H1 2023: In h1 2023, C9 Solvent prices fluctuated in the Asia Pacific region. C9 Solvent prices in the APAC region notably reflected mixed market sentiments and continued to have an impact on prices. Additional factors that affected C9 Solvent pricing was a reduction in downstream operational rates and an overstock of inventory in the warehouse, which led to poor pricing. Market players destocked inventories at smaller margins as a result of the Asian economy's slow recovery. However, at the end of March 2023, C9 Solvent prices increased as a result of the decline in production rates and a sharp increase in upstream crude oil prices amid worries about the tightening of OPEC supplies in March. India's C9 solvent prices first increased in April and decreased for the remainder of H1 2023. The demand for most solvents, including the C9 Solvent, was moderate in India. Similarly in the western region, prices of C9 solvent fluctuated in the US. The demand for C9 solvents in the coatings industry remained stable, which helped to support prices in the United States till end of February 2023. However, new orders continued to decline and export inquiries were sluggish as demand was driven by higher interest rates and escalated inflationary pressures. However, lower production rates in response to high inflation in the US market in March 2023, which resulted in a slight price increase of C9 Solvent. Due to production cuts announced by oil producers, the price of crude oil (feedstock) increased in April 2023. However, the price of crude oil continued to decline till June 2023 resulting in poor prices of C9 solvent in the US.
The global C9 Solvent market stood at approximately 250 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.80% during the forecast period until 2032.
A group of chemical compounds known as aromatic hydrocarbons bind to one another in flat rings. Because the number of carbon monomers in a chemical determines its name, aromatic hydrocarbon C9 resins are commonly referred to as C9 solvent. In addition to having a typical Gardner color range of 6–10 (dark yellow to dark brown), C9 have a particular aromatic odour. It is soluble in aliphatic hydrocarbons and chlorinated hydrocarbon solvents but insoluble in water, low alcohols, and ketones.
Adhesives, printing inks, sealants, polychoroprene rubber, concrete curing compounds, anti-drying agents, and paints are the principal applications for aromatic hydrocarbons like C9 solvents. They work well with SBR, SIS, SEBS, and SEPS and can be utilized as synthetic rubber, pressure-sensitive adhesive, and hot-melt adhesive. They can also be used to enhance the shine, increase hardness, and improve the water resistance of coatings of applications on ships, automobiles, and bridges. Hot road markings are another application for C9 solvents. The paints, coatings, and rubber industries are the major consumer markets for this solvent. The global C9 Solvent market is anticipated to expand and reach roughly 400 thousand tonnes by 2032.
In developing countries in the Asia Pacific region, there is a high demand for C9 solvent, which is driven by the use of the solvent in chemical, automotive, paints and coatings, and other industries in the region In the upcoming years, the Asia Pacific region is predicted to account for a highest portion of the market for C9 solvents. The China C9 solvent market is expanding at a high rate and presents several chances for all of the concerned investors along the whole value chain.
Based on the end-user industry, the global C9 Solvent market is divided into Paints & Coatings, Printing Ink, Oil field Chemical, Agro Chemical, and Others. Among these, Paints & Coatings is the major segment and held about 35% of the global C9 Solvent market in 2022.
Major players in the Global C9 Solvent market are Chevron Phillips Chemicals Company, Arham Petrochem, Shell, Eastman Chemical Company, DEZA a. s., Exxon Mobil, Hanwha Group, Monument Chemical, Korea Petrochemical Ind, Reliance Industries, SK global chemical, Total Oil, and
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of C9 Solvent which covers production, demand and supply of C9 Solvent market in the globe.
• To analyse and forecast the market size of C9 Solvent
• To classify and forecast Global C9 Solvent market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of C9 Solvent market in the globe.
To extract data for Global C9 Solvent market, primary research surveys were conducted with C9 Solvent manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global C9 Solvent market over the coming years.
ChemAnalyst calculated C9 Solvent demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce C9 Solvent. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• C9 Solvent manufacturers and other stakeholders
• Organizations, forums and alliances related to C9 Solvent distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as C9 Solvent manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global C9 Solvent market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
250 thousand tonnes
Market size Volume in 2032
400 thousand tonnes
Growth Rate
CAGR of 4.80% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints & Coatings, Printing Ink, Oil field Chemical, Agro Chemical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of C9 Solvent market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for C9 Solvent.
3. Capacity By Location
To better understand the regional supply of C9 Solvent by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of C9 Solvent by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Paints & Coatings, Printing Ink, Oil field Chemical, Agro Chemical, and Others) are creating a market and the forecast for the growth of the C9 Solvent market.
7. Demand by Region
Analyzing the change in demand of C9 Solvent in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell C9 Solvent. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of C9 Solvent.
10. Company Share
Figure out what proportion of the market share of C9 Solvent is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of C9 Solvent.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of C9 Solvent in terms of volume in 2022?
Ans:
The global market size of C9 Solvent has reached approximately 250 thousand tonnes in 2022.
Q2.
Which region is the major consumer of C9 Solvent?
Ans:
Asia Pacific region is the leading consumer of C9 Solvent globally.
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