Coating Solvent Market Investigation Highpoints Contribution of Bio-based Coating Solvents Towards Future Growth, Reports Fact.MR
ROCKVILLE, Maryland, March 19, 2019 /PRNewswire/ -- Coating solvents are basically additives which are used for providing certain performance assets to coatings, thereby offering the coatings with preferred consistency. In addition, coating solvents hold relatively higher benefits than bio-based and water-borne coating solvents in the manufacturing of coatings. According to a fresh Fact.MR research report titled "Coating Solvent Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027", the coating solvents market would provide modest growth, since global sales surpassed 11,500 '000 units in 2018. Furthermore, Tier 1 players are likely to grab almost 50% share in the coating solvents market during the forecast period until 2027.
The primary aim of this assessment is to provide reliable information on the coating solvents market, to allow readers in acquiring and devising suitable strategies. Furthermore, the knowledge of changing dynamics pertaining in the coating solvents market can also be gathered from this smart Fact.MR study.
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Xylene & Toluene and Alcohols Emerge as the Top-Seller Varieties of Coating Solvents
Due to rising end-use applications of coating solvents, the manufacturers have actively introduced various products, such as xylene, toluene and even alcohols. It should be noted that, these top-seller variants of coating solvents have collectively acquired approximately 75% volume share. In addition, gains are also anticipated from acetone, which is predicted to highlight relatively quicker volume growth during the coming years.
APEJ Expected to Surpass 30% Volume Share
According to this research study, the Asia-Pacific excluding Japan (APEJ) is likely to lead the coating solvents market. Based on the researched statistics, the target region is expected to acquire more than 30% volume share as compared to other regional markets. Further, majority of APEJ's coating solvents market are projected to be focused in China, as global sales are likely to cross 2,300 units in 2018. Mainstream demand is motivated by end-use industries that focus on reducing the count of recoats, and increase lifespan of their products and structures.
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It is recorded that several Chinese cities are working to restrict the solvent-based coatings, which is likely to hamper future prospects in the APEJ coating solvents market. The establishments in Chinese cities have instructed the use of water-based coatings as a substitute to solvent-based coatings. Major cities that has implemented this step include, Zhongshan, Taizhou, Nanjing, Shanghai and Tianjin.
Bio-based Coating Solvents Receive Higher Traction
The prevailing trends comprising of environment-friendly and sustainable preferences have caused regulatory evolutions across the coatings industry. Hence, the increase in content of bio-based raw materials like solvents used in coating formulations has become prominent. It is important to know that several paints as well as surface coatings currently available bear labels like "eco-friendly" and "environmental friendly", referring at rising demand for bio-based solvents.
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Competitive Scenario
Finally, the report offers a comprehensive insights on demand & supply inclinations of the global coating solvents systems. Furthermore, readers can access a thorough assessment on the coating solvent market's competition scenario. Details related to company overview, recent developments and key financials, can be acquired from this section for drawing precise conclusions. The major players active in the global coating solvent market are Eastman Chemical Company, Celanese Corporation, Arkema SA, Clariant AG, The Dow Chemical Company, BASF SE, Exxon Mobil, LyondellBasell Industries Holdings B.V and INEOS.
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