Global solvent-borne coatings market is set to witness a substantial CAGR

Posted by Andre on October 14th, 2019

Solvent borne coatings are liquid protective layer which are applied on the surface of the material so that corrosion can be avoided. During the curing of the coatings they are tougher than the water borne coatings. They are mainly used in humid environment because water- borne doesn’t have the ability to cure properly. These coatings are of two types- one component system borne coatings and two component system solvent borne coatings. These coating are widely used in industries such as automotive, printing inks and others.

Global solvent-borne coatings market is set to witness a substantial CAGR in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing effectiveness of solvent- borne coatings as compared to the water- borne coatings and rising demand of solvent- borne coatings from various end users are the factor responsible for the growth of this market.

Top Manufacturers Covered in the Report:

Few of the major competitors currently working in the global solvent-borne coatings market are BASF SE, Williams-Hayward Protective, INDUSTRIA CHIMICA ADRIATICA SpA, NEI Corporation, Laviosa Mineral Solutions SpA, BYK Additives & Instruments, Croda International Plc, TOLSA GROUP, DSM, Covestro AG, Jamestown Coating Technologies, Dow, VALPAC, Inc., Glass Paint Technology, Endura Manufacturing Company Ltd., ALLNEX NETHERLANDS B.V., Prestige Coating Limited., Excalibur Paint, Ellis Paint Company, PRABHAT PAINT INDUSTRIES., The Lubrizol Corporation, and others.      

Key Developments in the Market:

•          In September 2018, Evonik announced the launch of their new dispersant TEGO Dispers 687 which is specially designed for the dispersing and wetting matting agent in solventborne coatings. This new solution has the ability to provide better consistency and anti- sedimentation values. It is very suitable for untreated matting agents that have good transparency but high sedimentation tendency
•          In January 2015. Dow Corning announced the launch of their new 700P Additive which is specially designed to improve gloss, eliminate flooding and floating, enhance pigment dispersion and prevent yellowing at high temperature. This new additive has high heat resistant and has the ability to decrease the millbase viscosity and improve the gloss and haze of solvent-borne paints and coatings based on TiO2 pigments. The main aim of the launch is to provide better solutions to the customers at cost- effective range

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Market Drivers:

•          Less vulnerability of solvent- borne coating to environmental conditions will drive the market growth
•          Ability of these coatings to avoid spot rusting during coating applications will also accelerate the demand of this market
•          Usage of multipurpose additives to increase the effectiveness of solvent borne coatings will also enhance the market growth
•          Faster drying time of the solvent- based coatings will also contribute as a factor for the growth of this market

Market Restraints:

•          Solvent borne coating release volatile organic compounds (VOCs) which is harmful for the environment; this factor will restrain the market growth
•          High flammability of solvent borne coatings will also hamper the growth of this market
•          Strict government rules and norms will also restrict its growth in the market

Competitive Analysis:

Global solvent-borne coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of solvent-borne coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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