Global Solvent Borne Coatings Market Overview, 2023-28
the global solvent-born coating market is anticipated to cross USD 54.03 Billion by 2028, due to Strong demand from various end-use industries like automotive.
The solvent-borne coatings market is expected to promise high growth owing to increasing demand due to their anti-corrosion properties. The demand for solvent-borne coatings has increased to coat metal parts and equipment in harsh environments in recent years. Increasing demand from applications including automotive solvent-borne coatings, industrial solvents, printing inks, transportation, and consumer products is expected to drive the growth of the market. In essence, solvent-borne coatings serve as liquid protective layers that are applied to a metal surface to stop corrosion. Their primary components are organic compounds, and solvent-borne coatings display curing properties, as a result of which they demonstrate greater strength than water-borne coatings. As a result, they make a good choice for a corrosion control method. The solvent-borne coating industry is a dynamic and thriving sector that plays a vital role in various applications and industries worldwide. Solvent-borne coatings find extensive usage in industries such as automotive, construction, aerospace, marine, and industrial manufacturing. With their excellent adhesion and resistance to corrosion, weathering, and chemical exposure, solvent-borne coatings ensure long-lasting and high-quality finishes. These coatings offer a wide array of colours, textures, and finishes, allowing for endless creative possibilities and customization. Moreover, advancements in technology have further enhanced the performance and sustainability of solvent-borne coatings, making them an indispensable solution for diverse applications. As the demand for reliable and efficient coatings continues to rise, the solvent-borne coating industry remains at the forefront, constantly innovating and delivering exceptional solutions to meet the evolving needs of various sectors. With regards to utility in sticky or tropical conditions, dissolvable-borne coatings are significantly more successful than water-borne coatings because of the distinction in base material utilised. The curing process of water-borne coatings is heavily dependent on the reaction between the chemical components of the coating and the surrounding air. Water vapour evaporation, on the other hand, is absolutely necessary for the curing process in solvent-borne coatings. Thus, dissolvable-borne coatings are seeing colossal development in tropical nations.
According to the research report, "Global Solvent Born Coating Market Overview, 2023–2028," published by Bonafide Research, the global solvent-born coating market is anticipated to cross USD 54.03 Billion, increasing from USD 39.98 Billion in 2022. The market is expected to grow at a CAGR of 5.21% by 2023–2028. Solvent-borne coatings are known for their excellent performance characteristics, such as high durability, adhesion, and resistance to wear, corrosion, and weathering. These coatings provide robust protection to surfaces, ensuring long-lasting finishes and an enhanced product lifespan. Solvent-borne coatings are highly versatile and can be used across various industries and applications. They are suitable for automotive, aerospace, construction, industrial equipment, and marine sectors, among others. This versatility makes them a preferred choice for manufacturers looking for a single coating solution for multiple needs. Due to its extensive range of colours, textures, and finishes, it allows for enhanced aesthetic appeal and customization. This is particularly important in industries such as automotive and consumer goods, where visual appeal plays a significant role in consumer preferences. Solvent-borne coatings exhibit excellent resistance to chemicals, solvents, and corrosive substances. This makes them ideal for applications where protection against chemical exposure is critical, such as in chemical processing plants, industrial facilities, and the oil and gas industries. The global solvent-borne coating market benefits from a well-established infrastructure and supply chain network. Manufacturers have access to a wide range of raw materials, additives, and equipment necessary for the production and distribution of solvent-borne coatings, ensuring a steady supply to meet market demand. The rapid urbanisation and industrialization in emerging economies, particularly in Asia-Pacific and Latin America, have led to increased demand for solvent-borne coatings. As these regions witness growth in the automotive, construction, and industrial sectors, the need for high-performance coatings to protect assets and infrastructure rises.
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Based on the report, the global market is segmented into five regions, including North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Among them, Asia Pacific will dominate the market in 2022. Asia-Pacific is home to some of the world's fastest-growing economies, such as China, India, and Southeast Asian countries. These economies have experienced significant industrialization, urbanisation, and infrastructure development, leading to increased demand for solvent-borne coatings across various sectors. The Asia-Pacific region has witnessed a substantial surge in the automotive industry, with countries like China, Japan, and South Korea being major automotive manufacturing hubs. Solvent-borne coatings are widely used in automotive production for their exceptional performance, durability, and aesthetic appeal, driving the demand for these coatings in the region. Furthermore, the construction industry in Asia Pacific is experiencing remarkable growth due to infrastructure development, urbanisation, and rising disposable incomes. Solvent-borne coatings find extensive usage in architectural coatings, protective coatings for buildings, and infrastructure projects, further fueling the demand in the region. Asia Pacific has become a global manufacturing hub, attracting investments from multinational companies. Industries such as electronics, machinery, consumer goods, and packaging require high-quality coatings for product finishing, protection, and aesthetics, leading to a significant demand for solvent-borne coatings. As well, the governments in the Asia-Pacific region have implemented supportive policies to encourage industrial growth, technological advancements, and sustainable development. Investments in research and development, infrastructure projects, and manufacturing facilities have created a conducive environment for the solvent-borne coating market to thrive.
Based on type, the segment includes the one-component system and the two-component system of solvent-borne coating. Generally, both types of component systems have their own important One- and two-component systems of solvent-borne coatings offer excellent performance and durability. They provide robust protection against corrosion, abrasion, weathering, and chemical exposure. These coatings are known for their long-lasting properties, making them ideal for demanding applications. One- and two-component systems of solvent-borne coatings exhibit excellent adhesion to various substrates, including metals, plastics, and concrete. This strong adhesion ensures long-term bonding and minimises the risk of coating delamination or failure. Based on the application segment, this includes automotive solvent-borne coatings, industrial solvent-borne coatings, and printing inks. Solvent-borne coatings are used more in the industrial sector; solvent-borne coatings are extensively used in the automotive industry for applications such as vehicle bodies, parts, and components. These coatings provide excellent corrosion resistance, durability, and aesthetic appeal to automotive finishes. The aerospace industry relies on solvent-borne coatings for aircraft exteriors, interiors, and components. These coatings offer protection against harsh environmental conditions, chemicals, and abrasion while also meeting stringent aerospace standards. Based on the industrial vertical segment, which includes utilities, oil and gas industries, manufacturing industries, hospitals, and other industry verticals, at the global level, the oil and gas industry is contributing to the growth of solvent-borne coatings.
Considered in this report
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Manmayi Raval
Research Consultant
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028
Aspects covered in this report
• Global Solvent Born Coating market with its value and forecast along with its segments
• Region-wise Solvent Born Coating market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
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Customise your report by selecting specific countries or regions
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)
By Type:
• One Component System Solvent Borne Coating
• Two Component System Solvent Borne Coating
• Utilities,
• Oil & Gas Industry,
• Manufacturing Industry,
• Hospitals,
• Other Industry Verticals
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Lighting industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Companies Mentioned
Sika AG
Basf SE
Wacker Chemie AG
Cabot Corporation
Akzo Nobel N.V
The Sherwin-Williams Company
Kansai Paint Co.,Ltd.
Nippon Paint Holdings Co., Ltd
Axalta Coating Systems Ltd.
Jotun Group
Table of Contents
Table of Contents
1. Executive Summary
2. Market Dynamics
2.1. Market Drivers & Opportunities
2.2. Market Restraints & Challenges
2.3. Market Trends
2.4. Covid-19 Effect
2.5. Supply chain Analysis
2.6. Policy & Regulatory Framework
2.7. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Global Solvent Borne Coatings Market Outlook
6.1. Market Size By Value
6.2. Market Share By Region
6.3. Market Size and Forecast, By Geography
6.4. Market Size and Forecast, By Type
6.5. Market Size and Forecast, By Application Type
7. North America Solvent Borne Coatings Market Outlook
7.1. Market Size By Value
7.2. Market Share By Country
7.3. Market Size and Forecast, By Type
7.4. Market Size and Forecast, By Application Type
8. Europe Solvent Borne Coatings Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast, By Type
8.4. Market Size and Forecast, By Application Type
9. Asia-Pacific Solvent Borne Coatings Market Outlook
9.1. Market Size By Value
9.2. Market Share By Country
9.3. Market Size and Forecast, By Type
9.4. Market Size and Forecast, By Application Type
10. South America Solvent Borne Coatings Market Outlook
10.1. Market Size By Value
10.2. Market Share By Country
10.3. Market Size and Forecast, By Type
10.4. Market Size and Forecast, By Application Type
11. Middle East & Africa Solvent Borne Coatings Market Outlook
11.1. Market Size By Value
11.2. Market Share By Country
11.3. Market Size and Forecast, By Type
11.4. Market Size and Forecast, By Application Type
12. Competitive Landscape
12.1. Competitive Dashboard
12.2. Business Strategies Adopted by Key Players
12.3. Key Players Market Share Insights and Analysis, 2022
12.4. Key Players Market Positioning Matrix
12.5. Porter's Five Forces
12.6. Company Profile
12.6.1. The Sherwin-Williams Company
12.6.1.1. Company Snapshot
12.6.1.2. Company Overview
12.6.1.3. Financial Highlights
12.6.1.4. Geographic Insights
12.6.1.5. Business Segment & Performance
12.6.1.6. Product Portfolio
12.6.1.7. Key Executives
12.6.1.8. Strategic Moves & Developments
12.6.2. Akzo Nobel N.V
12.6.3. Jotun Group
12.6.4. BASF SE
12.6.5. Sika AG
12.6.6. Cabot Corporation
12.6.7. Wacker Chemie AG
12.6.8. Kansai Paint Co.,Ltd.
12.6.9. Axalta Coating Systems Ltd.
12.6.10. Nippon Paint Holdings Co., Ltd
13. Strategic Recommendations
14. Annexure
14.1. FAQ`s
14.2. Notes
14.3. Related Reports
15. Disclaimer
List of Tables
Table 1: Global Solvent Borne Coatings Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global Solvent Borne Coatings Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Solvent Borne Coatings Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 8: Global Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 9: North America Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 10: North America Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 11: Europe Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 12: Europe Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 13: Asia-Pacific Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 14: Asia-Pacific Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 15: South America Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 16: South America Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 17: Middle East & Africa Solvent Borne Coatings Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 18: Middle East & Africa Solvent Borne Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
List of Figures
Figure 1: Global Solvent Borne Coatings Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Solvent Borne Coatings Market Share By Region (2022)
Figure 6: North America Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: North America Solvent Borne Coatings Market Share By Country (2022)
Figure 8: Europe Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Europe Solvent Borne Coatings Market Share By Country (2022)
Figure 10: Asia-Pacific Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Asia-Pacific Solvent Borne Coatings Market Share By Country (2022)
Figure 12: South America Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: South America Solvent Borne Coatings Market Share By Country (2022)
Figure 14: Middle East & Africa Solvent Borne Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: Middle East & Africa Solvent Borne Coatings Market Share By Country (2022)
Figure 16: Competitive Dashboard of top 5 players, 2022
Figure 17: Market Share insights of key players, 2022
Figure 18: Porter's Five Forces of Global Solvent Borne Coatings Market
Market Research FAQs
Solvent-borne coatings are liquid coatings that use organic solvents as the primary carrier. These solvents facilitate the application of the coating and evaporate during the curing process, leaving a protective film on the surface.
Solvent-borne coatings offer advantages such as excellent adhesion, durability, and resistance to harsh environmental conditions. They also provide good flow and leveling properties, allowing for a smooth and uniform coating.
Solvent-borne coatings are used in various industries, including automotive, aerospace, construction, furniture, and industrial manufacturing, for applications such as corrosion protection, decorative finishes, and surface enhancements.
The global solvent-borne coating market is growing due to the high demand from industries such as automotive, construction, and industrial applications. Emerging economies and infrastructure development also contribute to the market growth.
Regulatory bodies worldwide have imposed limits on VOC emissions from coatings to reduce environmental impact. Compliance with these regulations and the development of low VOC formulations are key considerations for the industry.
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