The Coating Solvent Market Is Projected To Reach USD 14,205 Million By 2032

The coating solvent market is estimated at USD 9,244 Million in 2022 and is projected to reach USD 14,205 Million by 2032, growing at a CAGR of 4.4% from 2022 to 2032.

The demand for coating solvent is mainly attributed to wide use case including aerospace, automotive, manufacturing etc. It has been analyzed that coating solvents accounts nearly 18% of the value share in overall solvents market. This in turn offers coatings solvent as prime ingredients in several other downstream coatings, providing significant momentum to global solvent market during the assessment period.

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Key Companies Profiled

BASF SE
Arkema S.A.
Celanese Corporation
Clariant AG
Eastman Chemical Co.
Exxon Mobil Corporation
Ineos Group Limited
LyondellBasell Industries N.V.
Royal Dutch Shell plc
Solvay SA
The Dow Chemical Company

Key Takeaways from the Market Study

By end use application, beverages to account for bulk of global demand, reaching US$ 1 Bn by 2022
Bakery and confectionery remains the second-largest end user application segment.

Aspartame-based Coating Solvent is anticipated to generate US$ 616 Mn opportunity by 2022-end.
U.K to account for 30% of global Coating Solvent demand by 2031

China to emerge as an opportunistic market, expanding at a CAGR of around 3%
India to present credible growth opportunities, given the high proportion of diabetic population

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Competitive Landscape

Characterized by the occupancy of well-established and diversified regional and international vendors, the global market for coating solvent is fragmented in nature. While international players in the market are concentrating on extending their footprint, regional players are facing challenges in competing them based on cost, technology, and product quality. Marketing strategies such as merger and acquisitions, expansions, new product launches and product innovation can be adopted by key players in the market in order to upswing their market presence and create a larger customer base.

Global Coating Solvent Market by Category

By Product Type, Global Coating Solvent Market is segmented as:
Crude based
Bio Based (Green)

By Source, Global Coating Solvent Market is segmented as:
Xylene and Toluene
Acetone
Ethylene Dichloride
Alcohols
Chloroethane
Ethyl Acetate

By Region, Global Coating Solvent Market is segmented as:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

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Readers of the report are expected to know of the following information:

Which opportunities can be expected to emerge in the global Coating Solvent market over the forecast period of the report?
Which factors are anticipated to hamper growth in the market, limiting its growth trajectory?
What are the factors that will positively impact growth in the global Coating Solvent market landscape?
Which regions would hold a notable share of the global Coating Solvent market and which will be a hotspot of growth opportunities?

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