The study on the global coating solvent market provides granular assessments of key growth dynamics and opportunities in the market. These include a comprehensive analysis of the regulatory and strategic landscape during the historical period on the global level and across numerous regions. Fact.MR offers data-driven insights through the coating solvent market sizing and projections of various segments—shares and size—during the forecast period. The insights offered in the report are aimed at guiding companies and players to identify new growth avenues, winning imperatives, and untapped regional markets.
The coating solvents market will record a modest growth, with global sales estimated at over 11,500 ‘000 units in 2018, according to a new report of Fact.MR. Tier 1 players are expected to hold nearly 50% share of the coating solvents market. Key expansion strategies of these coating solvents manufacturers include partnerships and collaborations with emerging players to leverage their innovative capabilities and enhance regional market footprint.
Petrochemicals have traditionally reigned supreme as most-effective source for production of coating solvents, with sales in 2018 pegged at over 15,000 ‘000 units. However, bio-based coating solvents are expected to record a 1.5X volume growth than petrochemical-based variants in 2018, underpinned majorly by emphasis on environment protection and preference for low-risk applications.
However, worldwide sales of bio-based coating solvents currently account for just over 10% share of the market. In the EU alone, bio-based solvents hold less than 13% of overall coating solvents sales (630,000 tons/5 million tons). However, this niche coating solvents category is expected to gain significant traction in the near future, while permeating key applications such as architectural coatings and industrial equipment coatings.
Interested market participants and readers can peruse the global coating solvent market report to get insights into and evaluation of:
- Key growth drivers and restraints, trends and opportunities, and major challenges influencing the adoption rate of offerings by various players in the coating solvent market
- Major research and product development projects
- Promising technologies and favorable regulations in key regions
- Segments that will lose or gain shares in the next few years
- Value chain of key vendors and manufacturers
The coating solvent market report provides estimations and the market sizing and prospects of various regions. To this end, the study makes in-depth segmentation of the following key regions:
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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The study also takes a closer look at the prevailing regulatory and macroeconomic frameworks and in the key country markets.
Fact.MR has been closely tracking shares and size, and factors shaping the demand and consumption dynamics of various offering by key players in the coating solvent market over the past several years. To this end, the study segments the coating solvent market on the following product types:
- Xylene and Toluene
- Acetone
- Ethylene Dichloride
- Alcohols
- Chloroethane
- Ethyl Acetate
Xylene & Toluene and Alcohols – Top-Seller Variants of Coating Solvents
With evolving requirements of the end-users coating solvents manufacturers have introduced various products, ranging from xylene and toluene to alcohols. These two top-seller variants of coating solvents will collectively account for approximately 75% volume share. Gains are also expected from acetone, which is foreseen to record a relatively faster volume growth in 2018 and beyond.
Formulators are continuously putting efforts for the development of coating solvents with the aid of new and improved polymers. These developments are primarily aimed at utilization of suitable solvent combinations, however manufacturer efforts are being tugged by environmental regulations. Key regulations, such as the National Emission Standards for Hazardous Air Pollutants (NESHAPs) of EPA, Clean Air Act Amendments (CAAA), and Emergency Planning and Community Right-to-Know Act (EPCRA) have significantly confined prospects of the coating solvents, particular those formulated using petrochemicals.
The report, in order to offer a comprehensive assessment of the growth dynamics shaping the prospects of source, segments the overall coating solvent market into:
- Petrochemical
- Bio Based
Detailed profiling of the competitive landscape include following players:
- Eastman Chemical Company
- Arkema SA
- Clariant AG
- Celanese Corporation
- BASF SE
- The Dow Chemical Company
- Exxon Mobil
- INEOS
- LyondellBasell Industries Holdings B.V.
- Royal Dutch Shell
- Solvay
APEJ to Lead with Over 30% Volume Share than Other Regional Markets
Fact.MR report opines that Asia-Pacific excluding Japan (APEJ) is expected to spearhead the coating solvents market, accounting for over 30% volume share than all the other regional markets assessed in the report. Majority of APEJ’s coating solvents market is expected to be concentrated in China, with global sales estimated to exceed 2,300 units in 2018. Maj