Solvent Based Coatings Global Market To Reach Value Of $26 Billion In 2025

29 Sep, 2021

The solvent-based coatings market consists of sales of solvent-based coatings. Solvent based coatings contain organic compounds as solvents and constitute liquefying agents that evaporate through a chemical reaction with oxygen.

Global Solvent Based Coatings Market Size And Drivers:

The global solvent-based coatings market is expected to grow from $21.06 billion in 2020 to $22.7 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $26.27 billion in 2025 at a CAGR of 4%. The nature of quick-dry in solvent-based coatings benefits its application in humid environments and thereby contributes to the growth of the market.

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Trends In The Global Solvent Based Coatings Market

There adoption of PET technology is increasing as it enables homogenous distribution of mineral particles during painting. It is an acrylic polymer capable of encapsulating mineral pigments in 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 who adopted this technology are Vermont Photo Inkjet, AkzoNobel N.V, Sherwin-Williams Company and RPM International Inc.

Global Solvent Based Coatings Market Segments:
The global solvent-based coatings market is further segmented –
By Type: One Component System Solvent Borne Coating, Two Component System Solvent Borne Coating
By Application: Automotive Solvent Borne Coatings, Industrial Solvent Borne Coatings, Printing Inks
By Geography: The global solvent-based coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Solvent Based Coatings Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides solvent-based coatings market overviews, analyzes and forecasts market size and growth for the global solvent-based coatings market, solvent-based coatings market share, solvent-based coatings market players, solvent-based coatings market segments and geographies, solvent-based coatings market’s leading competitors’ revenues, profiles and market shares. The solvent-based coatings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.