Solvent Borne Coatings Market is Expected to Grow at a CAGR of 2.5% by the End of 2025

Global Industry Analysis

The solvent-borne coatings market is a segment of the global coatings industry that focuses on coatings that are solvent-based, meaning they are formulated with volatile organic compounds (VOCs) as a carrier or solvent. Solvent-borne coatings are used in a wide range of applications, including industrial coatings, automotive coatings, marine coatings, and decorative coatings. The market for solvent-borne coatings is driven by the demand for high-performance coatings that offer superior adhesion, durability, and corrosion resistance.

According to the report, the global solvent-borne coatings market was valued at US$ 35.2 billion in 2020 and is expected to reach US$ 43.0 billion by 2025, growing at a CAGR of 2.5% during the forecast period (2017-2025). The growth of the market is attributed to the increasing demand for solvent-borne coatings in the automotive, construction, and marine industries, especially in developing countries.

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Market Segmentation

On the basis of product type

• One component system solvent borne coatings
• Two component system solvent borne coatings

On the basis of end-use

• Automotive solvent borne coatings
• Industrial solvent borne coatings
• Printing inks

Key Trends, Drivers

Solvent borne coatings offer a major advantage vis-à-vis water based coatings in the fact that they are less vulnerable to environmental conditions such as temperature during the curing phase. This has been driving the demand for solvent borne coatings in the recent past, and is expected to boost their market growth in the next few years as well.

Also, solvent borne coatings have a preferential use over water based coatings where corrosion of the substrate due to the presence of water poses a major challenge for surface preparation. Spot rusting during coating applications could be entirely avoided using solvent based coatings, and hence this advantage has been driving the global solvent borne coatings market.

In recent times, multipurpose additives have been introduced to impart higher end-use characteristics to solvent borne coatings. For instance, desired properties such as improved wetting and dispersion, anti-settling, stability enhancement, anti-sagging, anti-corrosion properties, defoaming, and flow & leveling have been achieved for applications of solvent borne coatings. Also, apart from these benefits, anti-flocculation properties achieved by such additives have been driving the demand for solvent borne coatings in recent times. The increase in effectiveness of solvent borne coatings due to usage of such additives has been translating into cost savings for end users.

However, it has been observed that solvent borne coatings comprise of volatile organic compounds (VOCs) as their constituent. The release of these VOCs has been found to environmentally detrimental, thereby restricting the demand growth of the solvent borne coatings at a global level in recent times. Also, federal, state and local governments worldwide have been regulating VOC emissions by setting emission limits for a unit time period, thereby discouraging end-users to prefer solvent borne coatings to an extent, thereby slowing their market growth. For instance, in the U.S., the Environmental Protection Agency (EPA) has set federal laws for VOC emissions, and some states have also tightened emission norms even further, making an impact on the market growth of solvent borne coatings.

Also, development of water borne coatings to curb the environmental impact of application of solvent based coatings has been proving to be an attractive substitute for solvent borne coatings, thereby hampering their market growth.

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Market Participants

Examples of some of the market participants in the global solvent borne coatings market are as follows:

• BASF SE
• Williams Hayward Protective Coatings Inc.
• INDUSTRIA CHIMICA ADRIATICA SPA
• Inver S.p.A. con unico socio p.IVA
• NEI Corporation
• Laviosa Chimica Mineraria SpA
• BYK-CHEMIE GMBH
• Axalta Coating Systems, LLC
• Croda International Plc
• TOLSA GROUP

The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current, and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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