Solvent Borne Coatings Market Outlook, 2028

The global solvent-borne coating industry stands as a testament to the timeless allure of craftsmanship and the pursuit of excellence in surface finishing. With its rich history and steadfast commitment to quality, this industry has captured the imagination of artisans, manufacturers, and visionaries worldwide. Solvent-borne coatings, known for their exceptional performance and enduring beauty, have earned their place as a hallmark of sophistication and refinement. From the sprawling skylines of metropolises to the meticulous restoration of historical landmarks, these coatings have left an indelible mark on the world's most iconic structures. With a harmonious blend of tradition and innovation, the global solvent-borne coating industry continues to evolve, adapting to emerging trends and technologies while staying true to its heritage of uncompromising artistry. By seamlessly fusing form and function, these coatings enhance the visual appeal, durability, and longevity of surfaces, whether in the realm of architecture, automotive, marine, or industrial applications. As a testament to its unwavering prominence, the global solvent-borne coating industry remains a beacon of inspiration for those who appreciate the interplay of aesthetics and functionality. Step into this world of boundless possibilities, where each stroke of a brush or spray of a gun unlocks a universe of transformative beauty, and discover the enduring allure of solvent-borne coatings. The industry has witnessed a gradual shift towards environmentally friendly alternatives such as waterborne coatings and high-solid coatings. This trend is driven by increasing regulations on volatile organic compounds (VOCs) and a growing emphasis on sustainability. Waterborne and high-solids coatings offer lower VOC emissions, reduced environmental impact, and improved health and safety profiles. The solvent-borne coating industry has seen continuous advancements in formulations and technologies to improve performance and address environmental concerns. This includes the development of low-odour coatings, coatings with enhanced durability and weather resistance, and improved application methods for better efficiency and reduced waste. Rapid industrialization, urbanisation, and infrastructure development in emerging markets such as China, India, and Southeast Asian countries have fueled the demand for solvent-borne coatings. These regions are witnessing increased construction activities, automotive production, and manufacturing sectors, driving the growth of solvent-borne coatings in these markets.

According to the research report, Global Solvent Born Coating Market Outlook, 2028, 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 properties, including high levels of durability, adhesion, and resistance to abrasion, chemicals, and weathering. These coatings provide long-lasting protection to various substrates, such as metals, plastics, and concrete, making them ideal for demanding applications in industries like automotive, aerospace, and industrial manufacturing. Solvent-borne coatings have a diverse range of applications across multiple industries. They are extensively used in architectural coatings for buildings, infrastructure, and decorative purposes. Additionally, they find applications in automotive coatings, marine coatings, industrial maintenance coatings, and protective coatings for metal substrates. The versatility and adaptability of solvent-borne coatings contribute to their high demand in various sectors. The main considerations that are supposed to support the development of the dissolvable-borne coatings market in the estimated period are the reasonable qualities of the item. Moreover, the ascent in demand from end-use ventures like framework, cars, and general modernity is additionally expected to move the development of the solvent-borne coatings market. Additionally, it is anticipated that the solvent-borne coatings market's expansion will be cushioned by the coating's reduced environmental sensitivity. On the other hand, solvent-borne coatings contain volatile organic compounds (VOCs), which are bad for the environment. This, in turn, is expected to stifle the solvent-borne coatings market's expansion over the coming years. Furthermore, the use of multipurpose additives to improve the effectiveness of solvent-borne coatings will create further opportunities for the solvent-borne coatings market to grow in the future. However, severe government regulations and standards may pose further challenges to the solvent-borne coatings market's growth in the near future. Solvent-borne coatings have been preferred in various industries due to their excellent performance characteristics, including superior adhesion, durability, and resistance to wear, weathering, and corrosion. These properties make them suitable for applications in the automotive, industrial, marine, and aerospace sectors. Furthermore, solvent-borne coatings are preferred over water-based coatings in situations where corrosion of the substrate due to the presence of water poses a significant difficulty for surface preparation. Spot rusting during coating applications may be completely prevented with solvent-based coatings, which has been driving the worldwide solvent-borne coatings market.

Multipurpose additives have recently been introduced to improve the end-use features of solvent-borne coatings. For example, increased wetting and dispersion, anti-settling, stability enhancement, anti-sagging, anti-corrosion characteristics, defoaming, and flow and levelling have all been achieved for solvent-based coating applications. Apart from these advantages, the anti-flocculation capabilities of such additives have recently driven the need for solvent-borne coatings. The increased effectiveness of solvent-borne coatings as a result of the use of such additives has resulted in cost reductions for end users. Furthermore, the development of water-borne coatings to reduce the environmental effect of solvent-based coating applications has proven to be an appealing option for solvent-borne coatings, stifling their market growth. Infrastructure development, particularly in Asia-Pacific developing countries, is boosting the global market for architectural and industrial coatings. Shifting customer interests and increased public awareness of VOC emissions from architectural coatings also have an impact on the market. Furthermore, the transition from solvent-borne to water-borne coating formulations is expected to promote the growth of the global architectural coatings market during the forecast period.

Based on the types of components, the segment includes the one-component system and the two-component system of solvent-borne coating. At the global level, both components play a crucial role in the market. One-component solvent-borne coatings are pre-mixed formulations that are ready to use directly from the container without the need for additional mixing or catalyzation. This simplicity makes them easier to handle and apply, reducing complexity and saving time during the coating process. They are particularly favoured in applications where convenience and ease of use are important factors. Both one-component and two-component solvent-borne coatings are compatible with a wide range of substrates, including metals, plastics, wood, and concrete. This versatility allows for their application in diverse industries and applications, such as automotive, aerospace, construction, and industrial maintenance. Based on the industrial vertical, this includes the utilities, oil and gas industries, manufacturing industries, hospitals, and other industry verticals. The manufacturing industry is a significant consumer of solvent-borne coatings. This sector includes automotive, aerospace, electronics, machinery, appliances, and other manufacturing segments. Solvent-borne coatings are used for applications such as metal coatings, protective coatings, finishes, and surface treatments. The durability, adhesion, and resistance properties of solvent-borne coatings make them suitable for various manufacturing processes and environments. Furthermore, the utilities sector, including power generation, water treatment, and wastewater management, may also utilise solvent-borne coatings for corrosion protection and maintenance of infrastructure and equipment. These coatings can provide protection against chemicals, UV radiation, and weathering, extending the lifespan of utility assets. One government initiative regarding the solvent-borne coating market promotes the transition towards more sustainable and environmentally friendly alternatives. This could include providing incentives and support for research and development of low-VOC (volatile organic compound) or water-based coating technologies. The government could also implement stricter regulations and standards for solvent-borne coatings to limit their environmental impact. This could involve setting maximum limits for VOC emissions, requiring manufacturers to label their products with their environmental impact, or establishing a certification system for environmentally friendly coatings. Additionally, the government could invest in education and awareness campaigns to promote the benefits of using sustainable coatings and encourage consumers and businesses to choose environmentally friendly options. This could include providing information on the harmful effects of solvent-borne coatings on human health and the environment, as well as showcasing the performance and cost benefits of alternative coatings.

Based on the application segment, this includes automotive solvent-borne coatings, industrial solvent-borne coatings, and printing inks. At the global level, the automotive industry is one of the major users of solvent-borne coatings. Automotive solvent-borne coatings are widely used for their excellent durability, corrosion resistance, and aesthetic appeal. They are commonly applied to the exterior and interior parts of vehicles, including the body, chassis, and trim. Furthermore, industrial solvent-borne coatings also have a significant application in various sectors such as aerospace, heavy machinery, appliances, and construction. These coatings are favoured for their ability to provide excellent protection against harsh environmental conditions, corrosion, and wear. While the automotive industry tends to be the largest consumer of solvent-borne coatings, the specific market share may vary depending on factors such as regional demand, industry growth, and regulatory requirements. High-solid solvent-borne coatings are gaining popularity in the automotive sector as they have reduced solvent content, resulting in lower VOC emissions. These coatings offer improved performance and durability while still meeting regulatory requirements. The automotive sector is witnessing the integration of smart coatings, such as self-healing coatings and anti-fingerprint coatings, to enhance the functionality and appearance of vehicles. These coatings can repair minor scratches and resist dirt, smudges, and fingerprints.

Recent development and News:

• PPG has a wide range of solvent-borne coating products for various industries, including automotive, industrial, and aerospace. They continuously innovate and introduce new products to meet evolving customer needs. For example, PPG's Envirobase High-Performance waterborne basecoat system for automotive refinishing offers a sustainable alternative to traditional solvent-borne coatings.
• Axalta offers solvent-borne coating solutions for various industries, including automotive, industrial, and architectural sectors. Their latest innovations include Cromax Pro, a range of high-productivity solvent-borne basecoats for automotive refinishing that provide superior color matching and efficiency.
• Sherwin-Williams provide solvent-borne coatings for a wide range of applications, including automotive, industrial, and marine sectors. They have introduced new products such as Sher-wood F3 Kemvar Plus conversion varnish, which offers excellent chemical resistance, durability, and color retention for wood coating applications.
• BASF offers a comprehensive range of solvent-borne coatings, including automotive OEM and refinish coatings, industrial coatings, and decorative coatings. They continue to develop innovative products, such as Glasurit 923-625 Eco Balance VOC-Compliant Clearcoat, which provides low VOC emissions while maintaining high-quality finishes..

Considered in this report

• 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

Regions & Countries covered in the report:

• 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

By Application:

• Automotive Solvent Borne Coatings,
• Industrial Solvent Borne Coatings,
• Printing Inks

By Industry Vertical:

• 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.