The Paint Thinners Market is likely to rebound at a significant CAGR of 4.5% during the forecast period.
What is Paint Thinner?
A paint thinner can be defined as a solvent that is used to thin oil-based paints. Some of the commonly used paint thinners include acetone, turpentine, naphtha, toluene, and 2-butoxyethanol among others.
Key Players
Key players operating in the Paint Thinners Market are-
Akzo Nobel N.V. (Netherlands)
BASF SE (Germany)
PPG Industries, Inc. (US)
Sherwin-Williams Company (US)
Axalta Coating Systems, Ltd. (US)
Nippon Paint (Japan)
Jotun (Norway)
Henkel AG & Co. KGaA (Germany)
Kansai Paint (Japan)
Hempel A/S (Denmark)
KCC Corporation (South Korea)
3M (US)
Market Dynamics
The global growth of the paint thinners market size is primarily driven by:
Increasing use of paints in various applications including automobiles, buildings and aircrafts among others.
Growing demand for oil-based paints across applications is expected to substantially add to the market growth.
Rising demand for high-quality paint thinners is likely to create lucrative opportunities for the players operating in the global market during the review period.
Segment Analysis
Application Trends
The market has been divided into epoxy paint thinner, alkyd paint thinner, polyurethane paint thinner, acrylic paint thinner, and others. The epoxy paint thinner application accounted for the largest market share in 2020. The segment growth can be attributed to increasing product use across verticals.
Regional Trends
The market in Asia-Pacific accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The regional market growth can be attributed to the increasing product demand in numerous industries particularly automotive and building & construction. The market growth in the North American region is expected to grow at a considerable CAGR during the review on account of the presence of established end-use industries.
Want to know which region offers the best growth opportunities,Register Here.
Market Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By Product
Acetone
Turpentine
Naphtha
Toluene
Methyl Ethyl Ketone (MEK)
Dimethylformamide (DMF)
2-Butoxyethanol
Others
By Application
Epoxy Paint Thinner
Alkyd Paint Thinner
Polyurethane Paint Thinner
Acrylic Paint Thinner
Others
By Region
North America
Asia-Pacific
Europe
Rest of the World
COVID-19 Impact
The outbreak of COVID-19 significantly impacted the materials supply chains, international trade, and manufacturing operations across the world. The production of paint thinners declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the coronavirus.
Critical Questions Answered in the Report
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the paint thinners market. The following are the critical questions answered in the report.
What are the key trends in the market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the market?
What are the key strategies adopted by the major vendors to lead in the market?
What is the market share of the top vendors?
Target Audience
Here is the list of the group of customers that the paint thinners market hopes to have the greatest opportunity to convert-
Distributors
Suppliers
Manufacturers
Logistics organizations
Government bodies
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
Overview, industry life cycle analysis, supply chain analysis.
Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Trend and forecast analysis.
Segment trend and forecast.
Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factor.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s paint thinners market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
LOADING
LOADING
×
Please enter your contact details. It will allow our analysts to reach out to you.
The target audience of Paint Thinners Market includes Paint Thinners Vendors, Paint Thinners Manufacturers, Paint Thinners Distributors, Organizations, Government Bodies.
The global growth of paint thinners market size is primarily driven by increasing use of paints in various applications including automobiles, buildings and aircrafts among others. Growing demand for oil-based paints across applications is expected to add to the market growth substantially.
