The Business Research Company’s Solvent Based Coatings Global Market Report 2021 – COVID-19 Impact and Recovery
LONDON, GREATER LONDON , UK, October 27, 2021 /EINPresswire.com/ — 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 are helpful in speeding up the drying process through chemical reaction with oxygen available in the environment. This nature of solvent-based coatings makes it is easy to apply in humid environment and at different temperature zones. Moreover, many industries prefer solvent based coatings to avoid chemical reactions owing to its quick drying nature. For example, companies like Jamestown Coating Technologies produces 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.
The global solvent-based coatings market size is expected to grow from $21.06 billion in 2020 to $22.70 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%.
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The major players covered in the global solvent-based coatings market are BASF, AkzoNobel, PPG, Sherwin-Williams, Henkel, Valspar, 3M, HB Fuller, Eastman Chemical Company, Arkema SA, Clariant AG, Celanese Corporation, The Dow Chemical Company, Exxon Mobil, INEOS, LyondellBasell Industries Holdings B.V., Royal Dutch Shell, Solvay, Williams Hayward Protective Coatings Inc., Inver S.P.A., NEI Corporation, Laviosa Chemical Mineraria SpA, Croda International, TOLSA Group.
The global solvent-based coatings market is segmented by type into one component system solvent borne coating, two component system solvent borne coating, by application into automotive solvent borne coatings, industrial solvent borne coatings, printing inks.
Solvent Based Coatings Global Market Report 2021 – 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), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides solvent based coatings market overview, forecast solvent based coatings market size and growth for the whole market, solvent based coatings market share. solvent based coatings market players, solvent based coatings market segments, and geographies, solvent based coatings market trends, solvent based coatings market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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