South America Special Boiling Point Solvents Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Solvent Base (Petroleum Ether, Rubber Solvent, and Others), Application (Paints and Coatings, Rubbers and Tires, Inks, Adhesives, Resins, Clean

South America Special Boiling Point Solvents Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Solvent Base (Petroleum Ether, Rubber Solvent, and Others), Application (Paints and Coatings, Rubbers and Tires, Inks, Adhesives, Resins, Cleaning Agents, and Others)

The South America special boiling point solvents market is expected to grow from US$ 71.43 million in 2019 to US$ 84.57 million by 2027; it is estimated to grow at a CAGR of 2.1% 2019-2027. Increase in population and continuous advancement in the end-use industries such as construction and paint & coatings have had a positive impact on the economy of Brazil and Argentina, which has advanced to a large extent. The rising potential for special boiling point solvents in the rubber industry is mainly contributing to the market growth in SAM. Further, SAM has a nascent share in the market, due to increasing research and development activities in order to expand the use of special boiling point solvents. The rise in investment in research and development activities, along with increase in use in various industries, is propelling the growth of the market in the region. Change in economic conditions in South America, development of new manufacturing industries, and increase in support from the government for increasing industrial application provide a huge developing potential for the special boiling point solvents market players in South and Central America. Furthermore, the surge in manufacturing industries is expected to lift up the demand for special boiling point solvents owing to their wide range of applications in the packaging industry. With industrial markets on the rise, the demand for special boiling point solvents in the region is expected to continue to grow over the forecast period. The key factors that drive the special boiling point solvents market in South America include the recovery of the industrial sector, a surge in public-private partnerships, rapid urbanization in developed and developing countries, and massive investment in infrastructure development.

In case of COVID-19, South America, especially Brazil, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of solvent manufacturing activities. Other chemicals & materials manufacturing has subsequently impacted the demand for special boiling point solvents during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of solvent manufacturing projects, thereby reducing the demand for special boiling point solvents. Similar trend was witnessed in other South American countries such as Argentina, Colombia, Peru, and Chile. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.

Based on application, the paints & coatings segment led the South America special boiling point solvents market in 2019. Special boiling point solvents are used in paint and coating formulations to dissolve other compounds such as pigments, binders, and additives. These solvents evaporate when the paint is applied to the surface, allowing the resin and pigment to form a film of paint on the surface and dry quickly. These solvents are essential for coating formulations since they control the viscosity of the paints and have a substantial effect on the film quality, which is mainly dependent on the evaporation rate of the solvents during the drying period. Solvent-borne paints, also known as oil-based paints, may contain a variety of solvent combinations, including aliphatic, aromatic, alcohol, ketone, and white spirit. These include organic solvents such as petroleum distillates, esters, and glycol ethers. Solvent-borne coatings are less susceptible to environmental conditions such as temperature and humidity, during the curing phase compared to water-based coatings. This is one of the reasons for the increasing preference for solvent-based coatings.

The overall South America special boiling point solvents market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the South America special boiling point solvents market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South America special boiling point solvents market. Major players operating in the market include Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Brenntag Holding GmbH, and KH Chemicals.

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