Paint Stripper Global Market Report 2024

The paint stripper market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to several factors, including the expansion of the manufacturing sector, increased demand for eco-friendly and biodegradable paint strippers, government regulations addressing environmental concerns, overall economic growth, and the ongoing process of urbanization. These factors collectively contributed to the demand for paint strippers, driven by the need for effective coatings removal in various industries and the growing emphasis on environmentally friendly solutions in response to regulatory initiatives.

The paint stripper market size is expected to see steady growth in the next few years. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for environmentally-friendly formulations in paint strippers. Additionally, the expanding construction industry, the rising popularity of do-it-yourself (DIY) projects and home renovations, increased investment in infrastructure and construction projects, and a growing demand for paint removal products are contributing to the overall growth of the paint stripper market. Major trends expected in the forecast period include continuous innovation and product development, technological advancements in the formulation of paint strippers, and an increase in mergers and acquisitions within the industry. These trends collectively indicate a dynamic and evolving market landscape for paint strippers.

The anticipated expansion of the construction industry is poised to drive the growth of the paint stripper market. Within construction activities, the utilization of paint strippers for surface preparation and maintenance, particularly in the removal of old and deteriorating paint or coatings, is commonplace. Notably, in June 2021, Stats NZ Tatauranga Aotearoa reported a 3.7% increase in construction activity in March 2021. Residential activity also experienced a 4.3% upswing in 2021 compared to 2020. The US Census Bureau further revealed a robust growth rate of 10.2% in the value of construction activities, reaching $1.79 trillion in 2022 from $1.62 trillion in 2021. This underscores the pivotal role played by the expanding construction sector in propelling the paint stripper market forward.

Leading companies in the paint stripper market are actively engaged in the development of innovative products, such as solvent-based paint strippers. These chemical solutions are designed to dissolve and remove paint coatings by disrupting their chemical bonds. An illustrative example is Propspeed, a New Zealand-based company that introduced Stripspeed in 2023, a novel solvent-based paint stripper. Leveraging this technology, Stripspeed simplifies and enhances the process of removing foul-release coatings without the need for grinding or generating dust. This innovation not only saves considerable preparation time, with efficiency gains of up to 33% for smooth surfaces and 50% for complex surfaces, but also ensures a safer working environment by producing no harmful dust or debris. Additionally, it is non-flammable, non-caustic, and does not contain DCM and NMP, providing a valuable solution for prop speed applicators in priming metal surfaces.

In September 2022, Henkel, a Germany-based chemical and consumer goods company, acquired NBD Nanotechnologies for an undisclosed amount. This acquisition is aimed at fortifying the position of Henkel's business unit, Adhesive Technologies, in the functional coatings market. NBD Nanotechnologies, a US-based chemical manufacturer specializing in creating innovative surface coatings, brings valuable expertise to Henkel's portfolio through its advanced technologies and solutions.

Major companies operating in the paint stripper market report are 3M Company, Henkel AG & Co. KGaA, Sherwin-Williams, The Sherwin-Williams Company, PPG Industries, AkzoNobel, Nippon Paint Holdings Co. Ltd., RPM International Inc., Asian Paints, United Gilsonite Laboratories, Jasco, Green Products, Fiberlock Technologies, Tri-State Fabricators, Inc., Franmar Chemical Inc., Sunnyside, EZ Strip Inc., Savogran, Vitex Corp., SRI Performance, Twin Specialties, Citristrip, CHEMEON, Dumond Chemicals, Motsenbocker's Lift Off, Blue Bear, Formby's, Klean-Strip.

North America was the largest region in the paint stripper market in 2023. The regions covered in the paint stripper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the paint stripper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The paint stripper market consists of sales of scrapers, wire brushes, heat guns, sanders, protective gear, and vinegar. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A paint stripper, also referred to as a paint remover, is a chemical substance or a mixture specifically formulated to remove paint, varnish, or other coatings from surfaces. The main objective of a paint stripper is to break down the bond between the paint and the underlying surface. By doing so, it facilitates the process of scraping or washing away the paint, effectively restoring the surface to its original state.

The primary types of paint strippers include solvent type, caustic type, and acidic type. Solvent-based paint strippers are chemical products specifically formulated to remove paint, finishes, and coatings from surfaces while simultaneously cleaning the underlying surface. These paint strippers are available in various packaging types such as buckets, drums, cans, plastic bottles, and jerry bottles. They come in different grades including industrial grade, technical grade, and commercial grade. Paint strippers find applications across various end-user industries, including aerospace, automotive, marine, oil & gas, packaging, and others.

The paint stripper market research report is one of a series of new reports that provides paint stripper market statistics, including the paint stripper industry global market size, regional shares, competitors with a paint stripper market share, detailed paint stripper market segments, market trends and opportunities, and any further data you may need to thrive in the paint stripper industry. This paint stripper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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