Solvent Based Coatings Market Growth Rate, Latest Trends, Industry Insights And Forecast To 2033

"The new report published by The Business Research Company, titled Solvent Based Coatings Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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 solvent based coatings market covered in this report is segmented -

1) By Type: One Component System Solvent Borne Coating, Two Component System Solvent Borne Coating
2) By Application: Automotive Solvent Borne Coatings, Industrial Solvent Borne Coatings, Printing Inks
3) By Industry Vertical: Utilities, Oil & Gas Industry, Manufacturing Industry, Hospitals, Other Industry Verticals

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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.

Contents of the report:
1. Executive Summary
2. Solvent Based Coatings Market Report Structure
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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