A thinner is a solvent used to thin oil-based paints or clean up after their use. Commercially, solvents labeled "Paint Thinner" are usually mineral spirit shaving a flash point at about 40°C (104°F). Solvent is a chemical, which liquefies in a chemically diverse solute to make a solution. Solvent can be in liquid form but is also available in gaseous and solid form. Used in Printing inks, paints, and coatings, pharmaceuticals, adhesives & cosmetics etc.
Moderate growth is estimated for India solvents market during the forecast period 2016 to 2024, according to a report by Persistence Market Research (PMR). In terms of volume, sales of solvents in India reached 2,019,743.5 tons in 2016; by 2024 this number is expected to reach nearly 3,000,000 tons, expanding at 4.7% CAGR. India solvents market are projected to register highest CAGR through 2024. Which facilitates the development of new technologies and ensure a high quality product.
Few Indian major players are as under
· Asian Paints P P G Pvt. Ltd.
· Faaber Paints Pvt. Ltd.
· Mysore Paints & Varnish Ltd.
· Noroo Bee Chemical India Pvt. Ltd.