Paint Thinners Market was valued at US$ 20.3 Bn.in 2021. Global Paint Thinners Market size is expected to grow at a CAGR of 6.2 % through the forecast period.
Paint Thinners Market Overview:
The research “Paint Thinners Market ” seeks to provide up-to-date market intelligence and aid decision-makers in making sound investment decisions. It also offers a comprehensive analysis of the global Paint Thinners Market by Product Type, Application, Key Manufacturers, and Several Key Regions.
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Market Scope:
The research focuses on the Paint Thinners market’s growth prospects, constraints, and market analyses. The research employs Porter’s five forces analysis of the Paint Thinners industry to assess the impact of several variables on Paint Thinners market trends, including supplier bargaining power etc
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Segmentation:
Paint Thinners Market by Type
• Alcohol
• Ketones
• Esters
• Others
The paint thinner market is divided into alcohols, ketones, esters, and other products based on product type. With a 34.8% market share in 2021, the alcohol segment was the market leader. The growth is a result of increased demand for ethanol, methanol, n-butanol, and isopropanol in a variety of applications. Methanol is mostly used in glue and ink applications, while ethanol balances its use in fragrances, vegetable essences, and pharmaceuticals. As a result, the growing popularity of these products will support market expansion.
Paint Thinners Market by Application
• Painting and coating
• Printing Ink
• Industrial cleaning
• Adhesives
The paint thinner market is divided into paints and coatings, printing ink, industrial cleaning, glues, and others based on the application. Because of its extensive use in the development industry, the paints and coatings segment is expected to grow at the highest CAGR. This application area is developing quickly due to the building industry’s expansion as well as improvements in paint technology that have made them more affordable.
Paint Thinners Market Key Player:
• Akzo Nobel N.V
• 3M
• PPG Industries, Inc.
• The Sherwin-Williams Co.
• BASF SE
• Chugoku Marine Paints, Ltd.
• Axalta Coating Systems, LLC
• Nippon Paint Holdings Co., Ltd.
• Jotun Corp.
• Kansai Paint Co. Ltd.
• Hempel A/S
• KCC CORPORATION.
• RPM International Inc.
• Eastman Chemical Company
• Beckers Group
• Henkel AG & Company
• Gandhar Oil
• ExxonMobil Corporation
• Honeywell International
• INEOS GROUP
Regional Analysis:
The report has assessed the global Paint Thinners market in the following regions:
- America, North (the United States, Canada)
- European Union (Germany, France, United Kingdom, Russia)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)
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COVID-19 Impact Analysis on Paint Thinners Market :
The global repercussions of the coronavirus disease 2019 (COVID-19) are already being seen, and they will have a significant impact on the Paint Thinners market in 2021. The COVID-19 outbreak has had a wide-ranging impact, including flight cancellations, travel bans and quarantines, restaurant closures, and restrictions on all indoor/outdoor events; the declaration of a state of emergency in over thirty countries; a massive slowdown in the supply chain; the stock market; falling businesses, growing panic among the people, and uncertainty about the future.
Key Questions answered in the Paint Thinners Market Report are:
- Which key trends are likely to emerge in the Paint Thinners market in the forecast period?
- What will be the Paint Thinners market size by 2027?
- Which company had the biggest share in the Paint Thinners market in 2020?
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