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Coating Solvent Market: Bio-based Coating Solvents Gain Emphasis Abreast Sustainability

July 10, 2019 by Steve Blade  

 This report titled “Coating Solvents Market Forecast, Trend Analysis, and Competition Tracking – Global Market Insights 2018 to 2027,” is an exhaustive compilation of valuable insights and accurate forecast on the coating solvents market for the period between 2018 and 2027. A detailed assessment on key aspects that influence the coating solvents market growth has been provided in the report. The primary aim of the report is to provide authentic information on the coating solvents market, to enable readers in collecting and devising appropriate strategies. This will further help readers to align well with changing dynamics of the coating solvents market. Additionally, the report offers an overview of the coating solvents market, which offers better understanding on future prospects of the coating solvents market. The primary aim of the report is to provide authentic information on the coating solvents market, to enable readers in collecting and devising appropriate strategies. This will further help readers to align well with changing dynamics of the coating solvents market.

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The coating solvents market will record a modest growth, with global sales estimated at over 11,500 ‘000 units in 2018, according to a new report of Fact.MR. Tier 1 players are expected to hold nearly 50% share of the coating solvents market. Key expansion strategies of these coating solvents manufacturers include partnerships and collaborations with emerging players to leverage their innovative capabilities and enhance regional market footprint.

The size of the coating solvents system market has been evaluated and offered in terms of value (US$ Mn) and volume (‘000 units). Information on the coating solvents market has been transitioned via several validation funnels before their inclusion in the report. Scope of this report is to deliver precise forecast and actionable insights on the coating solvents market, to enable clients in making fact-based decisions for their businesses in the coating solvents market.

Bio-based Coating Solvents Gain Emphasis Abreast Sustainability

Prevailing trends, including environment-friendly, green, and sustainability have led to regulatory evolutions in the coatings industry. This in turnhas led to increase in content of bio-based raw materials such as solvents in coating formulations. Several paints and surface coatings currently available in the market bear labels such as “eco-friendly” and “environmental friendly”, alluding at rising demand for bio-based solvents. This niche form of solvents currently holds just over 10% of the coating solvents sales, however bio-based solvents are expected to witness rapid growth in demand, according to the European Solvents Industry Group (ESIG).

Market Segmentation

The report has identified key segments of the coating solvents market, and these have been systematically represented with the help of a taxonomy table. The coating solvents market has been split categorically into product type, source, and region. All the segments in the coating solvents market have been scrutinized in detail, and imperative numbers such as Y-o-Y, revenues, volume, and their share in coating solvents market have been delivered. Petrochemical-based coating solvents and bio-based/green coating solvents are key source type segments assessed in the coating solvents market report.

Shanghai Housing and Urban Development Management Commission has announced prohibition of coating solvents for woodware and exterior walls in the construction industry. In addition, Nanjing government has ordered over 800 vehicle maintenance enterprises for upgrading their solvent-based coatings to eco-friendly alternatives such as water-borne and bio-based variants.

Growing Momentum of Performance Coatings

Performance coatings have witnessed increased demand in the recent past, particularly to prevent damage to installations and transportation equipment. End-user demand for performance coatings has been set in context of various factors ranging from high pressure on efficiency and increased international trade to growing focus on environment conservation. Performance coatings being developed currently are associated with high-solid systems, owing to the introduction of pigments that feature high density. However, future development of performance coatings is expected to include water-borne coating solvents, as emphasis grows on endurance profiles and low-risk applications.

Competitive Landscape

Fact.MR’s study offers holistic insights on demand & supply trends of the coating solvents systems worldwide, coupled with a detailed assessment on the coating solvent market’s competition landscape. The report also offers an exhaustive assessment on established and emerging coating solvent market players. Information on company overview, key financials, and recent developments of these coating solvents manufacturers has also been included in the report.

Key developments of the market players

  • VarsolTM 30 is a recent development by Exxon Mobil Chemical, which is an aliphatic hydrocarbon coating solvent. This combustible liquid, which features high vapor pressure, can be employed as coating solvents across various applications including industrial maintenance coatings and traffic marking paints.
  • The Dow Chemical Company has recently unveils its slow evaporating coating solvent, called UCARTM ESTER EEP, which features excellent solvent properties. This coating solvent can be used in wide array of applications such as electrostatically sprayed coatings, acrylic polymerization, high solids coatings, and conventional lacquers and enamels. High electrical resistance, slow evaporation rate, and excellent solvent release are key benefits of this solvent coating.
  • BASF SE has recently developed a bio-based coating solvent, “Sovermol®,” which has been designed specifically for application in waterpipe coating, flooring coating, putty applications and adhesives. These solvent coatings are polyfunctional alcohols developed from renewable raw materials.

Key Questions Answered

The report also offers answers to other important queries apropos of the coating solvents market

  • Which region stands most lucrative for coating solvents market?
  • What is the revenue share of North America in coating solvents market?
  • By what percentage share does APEJ lead other coating solvents markets?
  • By what rate will demand for bio-based/green coating solvents grow in 2018?
  • Which product remains top-seller in coating solvents market?

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About Fact.MR

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