The Solvent Based Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Solvent Based Coatings Global Market Report 2024, 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.
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.
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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
The solvent based coatings market report table of contents includes:
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. Global Solvent Based Coatings Market Size and Growth
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26. South America Solvent Based Coatings Market
27. Brazil Solvent Based Coatings Market
28. Middle East Solvent Based Coatings Market
29. Africa Solvent Based Coatings Market
30. Solvent Based Coatings Market Competitive Landscape And Company Profiles
Top Major Players:
- BASF SE
- Akzo Nobel NV
- PPG Industries Inc
- Sherwin-Williams Company
- Henkel AG & Co. KGaA
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