Global Demand for Coating Solvent Is Expected to Rise at A Rate of 4.4% From 2022 To 2032

Posted on 2022-10-18 by Fact.MR in Chemicals // 0 Comments

Globally, coating solvent market is now experiencing a solid growth with a collective CAGR of 4.4% surpassing a net valuation of USD 8,844 Million by 2021. The demand for coating solvent is mainly attributed to wide use case including aerospace, automotive, manufacturing etc. It has been analyzed that coating solvents accounts nearly 18% of the value share in overall solvents market. This in turn offers coatings solvent as prime ingredients in several other downstream coatings, providing significant momentum to global solvent market during the assessment period.

Paints & coating solvents are expected to witness confinements of regulations imposed by environment regulatory authorities such as EPA’s National Emission Standards for Hazardous Air Pollutants (NESHAPs), which has resulted in restrictions in application of hazardous coating solvents. Additionally, programs such as the Clean Air Act Amendments (CAAA) and Emergency Planning and Community Right-to-Know Act (EPCRA) for reducing air pollution further put constraints on use of solvents, which has become mandatory for coatings formulators and end-users to comply with. These regulations will continue to impact prospects of the coating solvents in the near future, in turn driving demand for alternatives such as water-borne coatings and bio-based coating solvents.

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Coating Solvent Market- Scope of Report

A recent study by Fact.MR on the coating solvent market offers a 10-year forecast for 2022 to 2032. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of coating solvent.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing coating solvent, along with their product portfolios, key strategies, SWOT Analysis, enhances the reliability of this comprehensive research study.

Which Source for Coating Solvents Remained most Lucrative?

Among all the sources available including xylene and toluene, acetone, ethylene dichloride, alcohols, chloromethane and ethyl acetate, alcohol as prominent source of coating solvent is expected to acquire largest value share of about ~39% of the coating solvent market by 2022 end. During the assessment period 2017-2021, alcohol gained 127 BPS maintain a strong demand for source in coating solvents. This is attributed ease of availability of industrial alcohol for synthesis of coating solvents. In addition, xylene and toluene are considered as another impressive source for the production of coating solvents accounting nearly ~37% of the total coating solvents sources by 2022 end.

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Competitive Landscape

Characterized by the occupancy of well-established and diversified regional and international vendors, the global market for coating solvent is fragmented in nature. While international players in the market are concentrating on extending their footprint, regional players are facing challenges in competing them based on cost, technology, and product quality. Marketing strategies such as merger and acquisitions, expansions, new product launches and product innovation can be adopted by key players in the market in order to upswing their market presence and create a larger customer base.

Key companies profiled:

BASF SE
Arkema S.A.
Celanese Corporation
Clariant AG
Eastman Chemical Co.
Exxon Mobil Corporation
Ineos Group Limited
LyondellBasell Industries N.V.
Royal Dutch Shell plc
Solvay SA
The Dow Chemical Company

Global Coating Solvent Market by Category

By Product Type, Global Coating Solvent Market is segmented as:

Crude based
Bio Based (Green)

By Source, Global Coating Solvent Market is segmented as:

Xylene and Toluene
Acetone
Ethylene Dichloride
Alcohols
Chloroethane
Ethyl Acetate

By Region, Global Coating Solvent Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

Report Summary

The study offers comprehensive analysis on diverse features, including speculative and current production capacity, capacity utilization rates, captive consumption rates, product-wise pricing, revenue growth and list of consumers with consumption quantity, trade analysis, product enhancements, and revenue generation from coating solvent across the globe.

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