Solvent-Based Paint Market Production, Company Growth and Business Overview Forecast By 2022

The global Solvent-Based Paint Market is estimated to show a greater CAGR in the upcoming years owing to rising applications and widening up of scope across the globe. Solvent-based paint comprises of a considerably higher level of organic solvents when compared with the water-based paint. It is extensively employed to safeguard and offer texture to the objects. It is also popularly known as oil-based or alkyd paint.

The solvents present in the paint are usually accountable for pungent smell that is clearly evident in numerous buildings that have been newly colored and painted. It is said that it can prove unsafe for both the human health as well as quite harmful for the surroundings. That is why; the manufacturers are taking up various efforts to lessen the amount of solvents in paint without affecting the working performance of the paint. The Solvent-Based Paint Market is attaining huge recognition across various applications.

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It has been noticed that Solvent-Based Paint market is expanding its base rapidly across the globe. The factors that are playing a significant role in boosting up the market demand may entail robust industrialization, urbanization, novel innovations, augmentation in the demands, emerging nations, rise in the disposable income, augmented awareness among the end users, technological advancements, rise in the utilization of solvent-based paints, and burgeoning applications.

Moreover, the manufacturers are siding with various strategies such as joint ventures, acquisitions, and partnerships that is in turn contributing in the inorganic growth of the Solvent-Based Paint industry. Solvent-Based Paint Market is segregated by product type as Non-benzene Solvent-Based Paint, Benzene Solvent-Based Paint, and others. This market is segmented by application as Automotive Paint, Marine Paint, Wood Paint, Architectural Paint, and others. The industry is divided by geography as North America, Europe, China, Japan, Southeast Asia, and India.

Geographically, the Solvent-Based Paint Market is witnessing a huge growth in the North American countries and it is likely that the region will go on progressing at a huge rate, the reason being existence of a wide range of manufacturing units, rise in the adoption rates, and mounting investments by the leading companies. In contrast, Europe and Asia Pacific are also gradually displaying a momentous growth in the market owing to the rise in the market growth opportunities.

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The key players contributing in the development of the Solvent-Based Paint Industry are recognized as DAW SE, Shawcor, PPG, AkzoNobel, Henkel, RPM International, Axalta, BASF, Kansai Paint, Sika, Masco, Jotun, Hempel, KCC Corporation, Cromology, SK KAKEN, Carpoly, Taiho Paint, Asian Paints, Nippon Paint, Sherwin-Williams, Valspar, 3M, and HB Fuller.