Solvent Based Coatings Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | BASF SE, Akzo Nobel NV, PPG Industries Inc., Sherwin-Williams Company, Henkel AG & Co. KGaA, Valspar Corporation, 3M Company, H.B. Fuller Company

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Solvent Based Coatings Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The solvent based coatings market size has grown strongly in recent years. It will grow from $41.65 billion in 2023 to $45.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to industrial applications, architectural coatings, automotive and transportation, corrosion protection.

The solvent based coatings market size is expected to see strong growth in the next few years. It will grow to $65.29 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to sustainable formulations, high-performance coatings, wood coatings innovation, oil and gas industry. Major trends in the forecast period include green solvent-based coatings, nano coatings, specialty and customized formulations, digital transformation in coating application.

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Market Segmentation:
The main types of solvent-based coatings market are one-component system solvent-borne coatings and two-component system solvent-borne coatings. A two-component (2K) solvent-borne coating formulation consisting of dispersion as a first component and an acrylate binder with hydroxyl functionalities. The solvent-based coatings are applied in automotive solvent-borne coatings, industrial solvent-borne coatings, and printing inks that are used in utilities, oil and gas industries, manufacturing industries, hospitals, and other industry verticals.

Major Driver - Advantages Of Solvent-Based Coatings In Humid Environments
Solvent-based coatings are beneficial in humid environments. The time required to dry solvent-based coatings is very short when compared to water-based coatings, which are less efficient in humid environments. Solvent-based coatings are composed of liquefying agents that help speed up the drying process through a chemical reaction with the oxygen available in the environment. This nature of solvent-based coatings makes them easy to apply in a humid environment and at different temperatures. Moreover, many industries prefer solvent-based coatings to avoid chemical reactions owing to their quick-drying nature. For example, companies like Jamestown Coating Technologies produce industrial paints that are solvent-based and more durable when compared to water-based coatings. Thus, the nature of quick-dry in solvent-based coatings benefits their application in humid environments and thereby contributes to the growth of the solvent based coatings market.

Competitive Landscape:
Major companies operating in the solvent based coatings market include BASF SE, Akzo Nobel NV, PPG Industries Inc., Sherwin-Williams Company, Henkel AG & Co. KGaA, Valspar Corporation, 3M Company, H.B. Fuller Company, Eastman Chemical Company, Arkema SA, Clariant AG, Celanese Corporation, Dow Chemical Company, ExxonMobil Corporation, Ineos Group Limited, Shell plc, Solvay SA, Williams Hayward Protective Coatings Inc., Inver SPA, NEI Corporation, Laviosa Chimica Mineraria SpA, RPM International Inc., Axalta Coating Systems Ltd., Behr Paint Co., Benjamin Moore & Co., Kansai Paint Co. Ltd., Nippon Paint Holding Co. Ltd., Jotun Group, Evonik Industries AG, Huntsman Corporation, Mitsubishi Chemical Group Corporation, NOF Corporation, Saudi Arabia's Basic Industries Corporation, Shin-Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Chemours Company, Berger Paints Ltd., Asian Paints Ltd.

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Top Trend - Advancements In Pet Technology Transforming The Solvent Based Coatings Industry
The adoption of PET technology is increasing as it enables the homogenous distribution of mineral particles during painting. It is an acrylic polymer capable of encapsulating mineral pigments in the organic phase, which is a solvent phase. The main performance of the coatings comes from the bulk of the binder composition. However, additional polymer features such as crosslinking, oxidative or UV (Ultra Violet) curing, and specific morphology can boost overall performance, improving the dirt pick-up resistance in most cases. PET technology is being widely adopted by many customers and establishments to improve paint longevity and enhance resistance to climate variations and dirt from manmade and natural sources. Some of the major companies that have adopted this technology are Vermont Photo Inkjet, AkzoNobel N.V., Sherwin-Williams Company, and RPM International Inc.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Solvent Based Coatings Market Characteristics
3. Solvent Based Coatings Market Trends And Strategies
4. Solvent Based Coatings Market - Macro Economic Scenario
5. Solvent Based Coatings Market Size And Growth
…..
27. Solvent Based Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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