The global Solvent Borne Coatings Market size is expected to reach USD 52.67 billion by 2030, expanding at a CAGR of 3.8% during the forecast period, as per a new report by Grand View Research, Inc. This is attributable to the superior product properties, its wide range of applications, and the increasing demand from various end-use industries. They are known for their excellent durability, protection against weathering, and resistance to corrosion. These coatings provide a durable, hard, and glossy finish, making them ideal for industrial applications where resistance to abrasion and chemical exposure is crucial.
Solvent-borne coatings have several benefits over other types. They quickly dry, can be applied to a range of substrates, and are highly durable and weather resistant. They also provide excellent color & gloss retention, making them ideal for interior and exterior applications where aesthetics is essential. The demand for solvent-based paints and coatings has been on the rise, particularly in developing economies, owing to their unique characteristics and advantages. These products are well-suited for use in offshore oil and gas applications in environments characterized by low heat and high humidity.
Additionally, they are capable of covering large surface areas with a substantial thickness. Moreover, they demonstrate enhanced adhesion and exceptional water resistance, making them highly suitable for decorative finishes on complex shapes and external surfaces across various industries, including offshore oil and gas. As a result, there is an anticipated continued growth in the demand for these products in the foreseeable future, driven by the increasing adoption of paint anodization processes.
However, the solvents utilized in these coatings contain volatile organic compounds (VOCs), which contribute to the formation of smog and air pollution. Moreover, prolonged exposure to these solvents can pose health hazards, such as headaches, dizziness, and nausea. Consequently, alternative technologies such as waterborne and powder coatings have emerged as more environment-friendly options in recent years.
List of Key Players in the Solvent Borne Coatings Market
- BASF SE
- PPG Industries
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- RPM International
- Axalta Coating Systems
- Glass Paint Technology
- The Lubrizol Corporation
- NEI Corporation
- DOW
Related Press Release@ Solvent Borne Coatings Market Report
Solvent Borne Coatings Market Report Highlights
- The market is estimated to advance at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. This is attributed to the advancing automotive and industrial manufacturing activities worldwide
- Two-component type emerged as the fastest growing segment with a CAGR of 4.0% from 2023 to 2030. This is attributed to their superior performance in terms of durability and resistance. Two-component systems typically have better chemical resistance and adhesion and are used for more demanding applications, such as industrial coatings
- Two-component systems have a longer pot life, allowing for more extended work time, which can be beneficial in certain applications. The growing demand for high-performance coatings in industries like automotive, aerospace, and marine is driving the demand for two-component system solvent-borne coatings
- The industrial application segment is expected to expand at the highest CAGR of 4.2% from 2023 to 2030. This is attributed to the durability, water & chemical resistance, and adhesion characteristics of solvent borne coatings, which makes them ideal for use in various industrial applications
- Asia Pacific is poised to emerge as the fastest-expanding region with a CAGR of 4.6% from 2023 to 2030. This is attributed to the fact that the region is a hub of large automotive companies such as Toyota, Honda, Hyundai, Suzuki, and Tata Motors, resulting in the growing product application in the regional automotive industry
Solvent Borne Coatings Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 40.34 billion
Revenue forecast in 2030
USD 52.67 billion
Growth rate
CAGR of 3.8% from 2023 to 2030
Base year for estimation
2022
Historical data
2018 - 2021
Forecast period
2023 - 2030
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Solvent Borne Coatings Market Segmentation
Grand View Research has segmented the global solvent-borne coatings market on the basis of type, application, and region:
Solvent Borne Coatings Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- One Component
- Two Component
Solvent Borne Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Automotive
- Industrial
- Printing Inks
- Other Applications
Solvent Borne Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Netherlands
- Russia
- Switzerland
- Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Indonesia
- Vietnam
- Australia
- New Zealand
- Central & South America
- Brazil
- Argentina
- Chile
- Colombia
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Oman
- UAE
- Qatar
- Kuwait
- Angola
- Nigeria
A new research study from “Data Bridge Market Research” with title Solvent-Borne Coatings Market Insights 2019, Global Analysis and Forecast to 2026 provides an in-depth assessment of the Solvent-Borne Coatings including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies.
Key players profiled in this report are: BASF SE, Williams-Hayward Protective, INDUSTRIA CHIMICA ADRIATICA SpA, NEI Corporation, Laviosa Mineral Solutions SpA, DSM, Covestro AG, Jamestown Coating Technologies, Dow, VALPACGlobal solvent-borne coatings market is set to witness a substantial CAGR in the forecast period of 2019- 2026.
The report contains data of the base year 2018 and historic year 2017.Get Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-solvent-borne-coatings-marketCompetitive Analysis:Global solvent-borne coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of solvent-borne coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.Key Developments in the Market:In September 2018, Evonik announced the launch of their new dispersant TEGO Dispers 687 which is specially designed for the dispersing and wetting matting agent in solventborne coatings.
Dow Corning announced the launch of their new 700P Additive which is specially designed to improve gloss, eliminate flooding and floating, enhance pigment dispersion and prevent yellowing at high temperature.
This new additive has high heat resistant and has the ability to decrease the millbase viscosity and improve the gloss and haze of solvent-borne paints and coatings based on TiO2 pigments.
The research report includes specific segments by region (country), by company, by Type and by Application.
This study provides information about the sales and revenue during the historic and forecasted period of 2015 to 2026.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/61513/global-solvent-borne-resins-2020-950Segment by Type, the Solvent Borne Resins market is segmented into:Acrylic ResinsAlkyd ResinsPolyester ResinsSegment by Application:Industrial CoatingArchitectural CoatingsOthersGlobal Solvent Borne Resins Market: Regional AnalysisThe Solvent Borne Resins market is analysed and market size information is provided by regions (countries).
The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type and by Application segment in terms of sales and revenue for the period 2015-2026.The key regions covered in the Solvent Borne Resins market report are:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGlobal Solvent Borne Resins Market: Competitive AnalysisThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
A recent report published by TheBusinessResearchCompany on Water Borne Coatings Market provides in-depth analysis of segments and sub-segments in the global as well as regional.The Water Borne Coatings Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global water borne coatings market.
The report covers the water borne coatings market’s segments- acrylic, epoxy, polyurethane, polyester, alkyd, polyvinylidene chloride (PVDC), polyvinylidene fluoride (PVDF), appliances, automotive, architectural, marine, packaging, wood, general industrial, and others.Water Borne Coatings Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Smart coatings and high performance coating technologies are being adopted by companies to enhance efficiencies of coating compounds.
