Solvent borne coatings are used primarily as protective layers in liquid form, which are applied to the surface of a material for corrosion prevention. They comprise of organic compounds, and as a result of the curing property of solvent borne coatings, they exhibit more toughness than water borne coatings, thereby proving to be a preferred choice as a corrosion control solution.
Solvent borne coatings also possess relative advantage over water borne coatings owing to the fact that they bring effective results when applied even in humid environments, where the latter do not cure effectively. This is due to the fact that the former cures effectively as a result of a chemical reaction between atmospheric oxygen and the chemical ingredients of the solvent-borne coating, unlike curing of water borne coatings, which relies on the evaporation of water for curing. This also helps in making the effective use of solvent borne coatings in humid environments.
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Considering the vital advantages and applications of solvent borne coatings pertaining to harsh environment conditions, the study of the solvent borne coatings market becomes an important read.
On the basis of product type, the global solvent borne coatings market is segmented as follows:
- One component system solvent borne coatings
- Two component system solvent borne coatings
On the basis of end-use, the global solvent borne coatings market is segmented as follows:
- Automotive solvent borne coatings
- Industrial solvent borne coatings
- Printing inks
Key Trends, Drivers
Solvent borne coatings offer a major advantage vis-à-vis water based coatings in the fact that they are less vulnerable to environmental conditions such as temperature during the curing phase. This has been driving the demand for solvent borne coatings in the recent past, and is expected to boost their market growth in the next few years as well.
Also, solvent borne coatings have a preferential use over water based coatings where corrosion of the substrate due to the presence of water poses a major challenge for surface preparation. Spot rusting during coating applications could be entirely avoided using solvent based coatings, and hence this advantage has been driving the global solvent borne coatings market.
In recent times, multipurpose additives have been introduced to impart higher end-use characteristics to solvent borne coatings. For instance, desired properties such as improved wetting and dispersion, anti-settling, stability enhancement, anti-sagging, anti-corrosion properties, defoaming, and flow & leveling have been achieved for applications of solvent borne coatings. Also, apart from these benefits, anti-flocculation properties achieved by such additives have been driving the demand for solvent borne coatings in recent times. The increase in effectiveness of solvent borne coatings due to usage of such additives has been translating into cost savings for end users.
However, it has been observed that solvent borne coatings comprise of volatile organic compounds (VOCs) as their constituent. The release of these VOCs has been found to environmentally detrimental, thereby restricting the demand growth of the solvent borne coatings at a global level in recent times. Also, federal, state and local governments worldwide have been regulating VOC emissions by setting emission limits for a unit time period, thereby discouraging end-users to prefer solvent borne coatings to an extent, thereby slowing their market growth. For instance, in the U.S., the Environmental Protection Agency (EPA) has set federal laws for VOC emissions, and some states have also tightened emission norms even further, making an impact on the market growth of solvent borne coatings.
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Also, development of water borne coatings to curb the environmental impact of application of solvent based coatings has been proving to be an attractive substitute for solvent borne coatings, thereby hampering their market growth.
Examples of some of the market participants in the global solvent borne coatings market are as follows:
- BASF SE
- Williams Hayward Protective Coatings Inc.
- INDUSTRIA CHIMICA ADRIATICA SPA
- Inver S.p.A. con unico socio p.IVA
- NEI Corporation
- Laviosa Chimica Mineraria SpA
- BYK-CHEMIE GMBH
- Axalta Coating Systems, LLC
- Croda International Plc
- TOLSA GROUP
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
The main aim of the report is to:
- Enable key stakeholder’s in the market bet right on it
- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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