The global solvent based coatings market size is expected to grow from $34.29 billion in 2021 to $38 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global solvent based coatings market size is expected to grow to $55.52 billion in 2026 at a CAGR of 9.9%.
What is the Global Solvent Based Coatings Market?
The solvent based coatings market consists of sales of solvent-based coatings. Solvent based coatings contain organic compounds like solvents and constitute liquefying agents that evaporate through a chemical reaction with oxygen.
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What drives the Global Solvent Based Coatings Market?
Solvent based coatings are beneficial in humid environments. The time required to dry for solvent based coatings is very less when compared to the 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 oxygen available in the environment. This nature of solvent based coatings makes it is easy to apply in a humid environment and at different temperature zones. 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, which are solvent based and are more durable when compared to water based coatings. Thus, 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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Global Solvent Based Coatings Market Segments
The global solvent based coatings market is 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 Industry Vertical: Utilities, Oil & Gas Industry, Manufacturing Industry, Hospitals, Other Industry Verticals
By Geography: The regions covered in the solvent based coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global solvent based coatings market.
Solvent Based Coatings Global Market Report 2022provides market size and growth forecasts for the global solvent based coatings market, global solvent based coatings market share, solvent based coatings market segments and geographies, solvent based coatings market competitive landscape including 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.
Global Solvent Based Coatings Industry Playersinclude BASF, AkzoNobel, PPG, Sherwin-Williams, Henkel, Valspar, 3M, HB Fuller, Eastman Chemical Company, and Arkema SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
