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Humid environments are expected to drive innovation in solvent based coatings manufacturing, thus driving the market during the forecast period.

The global solvent based coatings market is expected to grow from $38.09 billion in 2022 to $41.81 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The global solvent based coatings market size is expected to grow from $58.73 billion in 2027 at a CAGR of 8.9%.

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Global Solvent Based Coatings Market Segments Include:

• 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
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global solvent based coatings market in 2021.

Major Market Players in the solvent based coatings market include BASF, AkzoNobel, PPG, Sherwin-Williams, Henkel, Valspar, 3M, HB Fuller, Eastman Chemical Company, and Arkema SA.

The adoption of PET technology is increasing as it enables the homogenous distribution of mineral particles during painting. It is an acrylic polymer capable of encapsulating mineral pigments in the organic phase, which is a solvent phase. The main performance of the coatings comes from the bulk of the binder composition. However, additional polymer features such as crosslinking, oxidative or UV (Ultra Violet) curing, and specific morphology can boost overall performance, improving the dirt pick-up resistance in most cases. PET technology is being widely adopted by many customers and establishments to improve paint longevity and enhance resistance to climate variations and dirt from manmade and natural sources. Some of the major companies that have adopted this technology are Vermont Photo Inkjet, AkzoNobel N.V., Sherwin-Williams Company, and RPM International Inc.

The Solvent Based Coatings Global Market Report 2023 provides a solvent based coatings market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The solvent based coatings market forecast analyzes solvent based coatings market size, solvent based coatings market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Solvent-based coatings contain organic compounds like solvents and constitute liquefying agents that evaporate through a chemical reaction with oxygen. Solvent-based coatings include high levels of organic compounds than water-based coatings and offer a long durability.

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