Global Solvent Borne Coatings Market Size Study, by Type (One Component, Two Component), by Application (Automotive, Industrial), and Regional Forecasts 2022-2032

Description

The Global Solvent Borne Coatings Market is currently valued at approximately USD 40.63 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.80% during the forecast period from 2024 to 2032. Solvent-borne coatings, with their superior adherence and durability, are widely adopted across various industrial and automotive applications. Their unique formulation, which allows effective curing in humid conditions and delivers a smooth, robust finish, makes them a preferred choice in environments where waterborne coatings fall short. The dynamic interplay of innovation and demand in the market ensures consistent growth for solvent-borne coatings, solidifying their essential role in modern industry.

This growth trajectory is primarily driven by the expanding automotive sector, where solvent-borne coatings are indispensable for delivering high-performance finishes that endure extreme conditions. Additionally, the industrial sector's demand for resilient and protective coatings further fuels the market's momentum. Despite environmental concerns over volatile organic compounds (VOCs) emissions, manufacturers are innovating by introducing low-VOC and eco-friendly formulations to align with stringent regulatory standards. This evolution ensures that solvent-borne coatings remain relevant and in demand even in increasingly regulated markets.

Regionally, North America and Europe hold significant shares of the market due to their advanced industrial infrastructures and strong automotive sectors. The regulatory push towards greener solutions in these regions has also spurred innovation, leading to the development of sustainable solvent-borne coatings. On the other hand, the Asia-Pacific region emerges as the fastest-growing market, fueled by rapid industrialization, urbanization, and the booming automotive industry in countries like China and India. The growth opportunities in these regions offer fertile ground for industry leaders to expand and diversify their portfolios.

Major market players included in this report are:

Akzo Nobel N.V.
PPG Industries, Inc.
The Sherwin-Williams Company
BASF SE
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
Axalta Coating Systems Ltd.
RPM International Inc.
Hempel A/S
Jotun A/S
Tikkurila OYJ
Asian Paints Limited
Berger Paints India Limited
Masco Corporation
Benjamin Moore & Co.

The detailed segments and sub-segments of the market are explained below:

By Type:

One Component
Two Component

By Application:

Automotive
Industrial

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Comprehensive market estimates and forecasts spanning a decade (2022-2032).
Detailed regional and country-level analyses to identify market dynamics and opportunities.
Strategic insights and recommendations for market stakeholders.
Competitive analysis highlighting strategies of key players.
An in-depth assessment of supply-demand dynamics and their implications for the market.

Chapter 1. Global Solvent Borne Coatings Market Executive Summary

1.1. Global Solvent Borne Coatings Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Solvent Borne Coatings Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Solvent Borne Coatings Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Adoption of Electric Vehicles (EVs)
- 3.1.2. Expansion of Renewable Energy Infrastructures
- 3.1.3. Rising Demand for Lightweight, High-Performance Materials
3.2. Market Challenges
- 3.2.1. Complexities in Material Formulation
- 3.2.2. High Production Costs
3.3. Market Opportunities
- 3.3.1. Advancements in Material Science
- 3.3.2. Innovations in Manufacturing Techniques
- 3.3.3. Expansion into Emerging Markets

Chapter 4. Global Solvent Borne Coatings Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Solvent Borne Coatings Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Solvent Borne Coatings Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. One Component
- 5.2.2. Two Component

Chapter 6. Global Solvent Borne Coatings Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Solvent Borne Coatings Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Automotive
- 6.2.2. Industrial

Chapter 7. Global Solvent Borne Coatings Market Size & Forecasts by Region 2022-2032

7.1. North America Solvent Borne Coatings Market
- 7.1.1. U.S. Solvent Borne Coatings Market
  - 7.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Solvent Borne Coatings Market
  - 7.1.2.1. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.2.2. Application Breakdown Size & Forecasts, 2022-2032
7.2. Europe Solvent Borne Coatings Market
- 7.2.1. UK Solvent Borne Coatings Market
- 7.2.2. Germany Solvent Borne Coatings Market
- 7.2.3. France Solvent Borne Coatings Market
- 7.2.4. Spain Solvent Borne Coatings Market
- 7.2.5. Italy Solvent Borne Coatings Market
- 7.2.6. Rest of Europe Solvent Borne Coatings Market
7.3. Asia-Pacific Solvent Borne Coatings Market
- 7.3.1. China Solvent Borne Coatings Market
- 7.3.2. India Solvent Borne Coatings Market
- 7.3.3. Japan Solvent Borne Coatings Market
- 7.3.4. Australia Solvent Borne Coatings Market
- 7.3.5. South Korea Solvent Borne Coatings Market
- 7.3.6. Rest of Asia-Pacific Solvent Borne Coatings Market
7.4. Latin America Solvent Borne Coatings Market
- 7.4.1. Brazil Solvent Borne Coatings Market
- 7.4.2. Mexico Solvent Borne Coatings Market
- 7.4.3. Rest of Latin America Solvent Borne Coatings Market
7.5. Middle East & Africa Solvent Borne Coatings Market
- 7.5.1. Saudi Arabia Solvent Borne Coatings Market
- 7.5.2. South Africa Solvent Borne Coatings Market
- 7.5.3. Rest of Middle East & Africa Solvent Borne Coatings Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Akzo Nobel N.V.
- 8.1.2. PPG Industries, Inc.
- 8.1.3. The Sherwin-Williams Company
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Akzo Nobel N.V.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. PPG Industries, Inc.
- 8.3.3. The Sherwin-Williams Company
- 8.3.4. BASF SE
- 8.3.5. Kansai Paint Co., Ltd.
- 8.3.6. Nippon Paint Holdings Co., Ltd.
- 8.3.7. Axalta Coating Systems Ltd.
- 8.3.8. RPM International Inc.
- 8.3.9. Hempel A/S
- 8.3.10. Jotun A/S
- 8.3.11. Tikkurila OYJ
- 8.3.12. Asian Paints Limited
- 8.3.13. Berger Paints India Limited
- 8.3.14. Masco Corporation
- 8.3.15. Benjamin Moore & Co.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes