Press release
Coating Solution Gaining Significant Growth Owing to Extensively Utilized In Various Downstream Applications
The coating solvent market is anticipated to reach USD 14,205 Million by 2032, increasing at a CAGR of 4.4% from 2022 to 2032. It is currently predicted to be worth USD 9,244 Million in 2022. The widespread application cases, such as aerospace, automotive, and manufacturing, are primarily responsible for the demand for coating solvent.According to analysis, the value share of coating solvents in the market for all solvents is close to 18%. Due to the fact that many different downstream coatings now use coating solvent as a primary constituent, the worldwide solvent market experienced significant growth throughout the assessment period.
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Why Solvent based Coating Solution Gaining Significant Traction?
The downstream applications of end use sectors, such as automotive, aerospace, and architectural coatings, make substantial use of the solvent-based coating materials. Solvent-based coatings, as opposed to water-based coatings, are more resistant to abrasive circumstances like high temperatures and humidity, making them the preferred option among consumers.
In addition, the American Coatings Association reports that the market for industrial and architectural coatings has grown quickly in recent years due to the extensive use of solvent-based coatings in various industries. This expansion is excellently supported by increasing expenditures made by businesses to meet the need for coating services across various industries, including the automotive, aerospace, and defence sectors, among others.
Additionally, the car industry's quick adoption of solvent-based coatings for better wear resistance has resulted in a considerable increase in demand for coating solvents globally.
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
What insights this research provides to readers?
• Coating Solvent fragmentation on the basis of product type, end use, and region.
• Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
• Collaborations, R&D projects, acquisitions, and product launches of each Coating Solvent player.
• Various regulations imposed by the governments on the consumption of Coating Solvent in detail.
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Based on precise data trends and classification, we provide one of the most thorough and understandable regional breakdowns of the global Coating Solvent market. With regard to a variety of industries, from developing markets to regional markets, our specialists provided insightful analysis. Expect a thorough examination of the most significant economies in the globe, both internationally and globally.
The most recent market research report, which is being distributed to a global audience, offers business forecasts, growth trends in important regions, and development developments. The thorough market research helps customers navigate the data and understand the analysis. A deeper understanding of the industry, thorough predictions, product production, and overall market income can all be aided by geographic market research.
Coating Solvent Market: Segmentation
• By Product Type, Global Coating Solvent Market is segmented as:
o Crude based
o Bio Based (Green)
• By Source, Global Coating Solvent Market is segmented as:
o Xylene and Toluene
o Acetone
o Ethylene Dichloride
o Alcohols
o Chloroethane
o Ethyl Acetate
• By Region, Global Coating Solvent Market is segmented as:
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa
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The key perks of this report address the following questions-
• What are the key highlights of our Coating Solvent market research report?
• What are impelling reasons for buying this report?
• What makes this Coating Solvent market report distinct from others?
• What are the key benefits of this Coating Solvent market research report?
• What objectives are met under this market research report?
• What research methodology do we use at FactMR?
• What insights this research provides to readers?
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