Report Code: A07674 | Nov 2023 | Pages: NA | ||
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Request Now !Solvent borne coatings are liquid coatings applied on a metal surface to prevent corrosion. The main constituent of these coatings are organic compounds, which exhibit better strength than water borne coatings. Therefore, the market is witnessing growth due to the favorable properties of the product. Solvent borne coating can maintain its property even in humid or tropical environment, which makes it an ideal option compared to water borne coatings. It is of majorly two types, one component and two components. The coating is used in the automotive industry, printing inks, etc. Companies, such as Nippon and AkzoNobel, are taking steps to improve technologies related to solvent borne coatings to avoid any harmful effects on the environment.Â
Asia-Pacific is the major contributor to the market due to increase in industrial, building, and construction sectors. The Asia Pacific region has the largest share in the market compared to other regions. Companies using these solvents are trying to reduce the number of recoats for better output. During the forecast period, it is estimated to witness exceptional rise in the use of solvent coatings as performance coatings in transportation to prevent damage in equipment. Increase in use of solvent coatings has led manufacturers to produce coatings with alcohol, xylene, and others.Â
Solvent borne coatings are preferred over water borne coatings due to their properties of curing even in high temperatures. This has eventually led to the growth of the market. Moreover, due to less presence of water in its preparation, it leads to less corrosion compared to water borne coatings. There is no presence of spot rusting in solvent borne coatings, which contributes to the global market value. Certain chemicals have been added to these solvents, which resulted in improved characteristics such as anti-clogging, anti-sagging, better settling, and improved anti-corrosion. Therefore, these features resulted in increase in its use and decreased the cost for users. The major contributing companies, such as BASF SE and the Dow Chemical Company, focus on a larger number of industries in using solvent borne coatings.
Solvent borne coatings consist of volatile organic compounds, which produce harmful effects on the environment, which is a major restraint for the market growth. As governments have formed stricter laws for environment safety, solvent borne coating can face a major loss in its market value. Moreover, its property of being highly flammable can also restrain the market growth. Â
In September 2018, Evonik launched its new chemical substance TEGO 687, which is used to improve the wetting property. This substance in coatings is expected to enhance its sedimentation and consistency property. In January 2015, Dow Corning introduced its new 700P chemical to improve gloss and anti-yellowing property at high temperature. This new addition to the coatings is expected to improve heat resistance, viscosity, and gloss. This would eventually provide cost-effective solutions and increase the product usage.Â
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Solvent Borne Coatings Market: Global Opportunity Analysis and Industry Forecast 2020- 2027 Report Highlights
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Key Market Players | Jotun, Nippon Paints Holdings., the Dow Chemical Company, PPG Industries, the Sherwin-Williams Company, BASF SE, NEI Corporation, Croda International PLC, AkzoNobel, Axalta Coating Systems |
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