The Global Paint Thinner Market size is expected to grow at a CAGR of 4.0% from 2021 to 2028. The global paint thinner market has been witnessing increased demand in the Asia Pacific region due to growing construction activities and industrialization of countries such as India and China. Furthermore, other factors contributing towards growth are increasing disposable income in developing economies coupled with rising consumer spending on paints and coatings products.
Paint thinner is a solvent that is used to thin paints. A paint thinner can also be used as an ingredient in paint to make it easier to apply and remove from the surface being painted. The most common types of paint thinner are acetone, turpentine, naphtha, MEK, DMF, and others like xylene or benzene. Nontoxic solvents such as aromatic hydrocarbons (such as alkylbenzenes) may also serve this purpose for some applications.
On the basis of Types, the market is segmented into Acetone, Turpentine, Naphtha, Toluene, Methyl Ethyl Ketone (MEK), Dimethylformamide (DMF), 2-Butoxyethanol, and Others.
Acetone is a solvent with two functions in paint thinners. It acts as an anti-freeze and also helps the paint stick to surfaces more easily, especially when applied before painting.
Turpentine is a solvent that changes the paint's consistency, making it more fluid and easier to apply. It also causes paints to dry faster than they would with other solvents.
Naphtha is a solvent that dissolves the paint into droplets. It can also be used to clean equipment or as a degreaser because it evaporates quickly and leaves behind a little residue.
Toluene is a solvent that dries the paint faster than other solvents, and it also reduces its thickness.
MEK is a solvent that's commonly used in paints because it evaporates more quickly than other solvents. It can also be found as an ingredient in some foods and drinks, including soy sauce and salad dressings.
DMF is a solvent that dissolves the paint into droplets. It can also be used as an adhesive and in plastics manufacturing.
2-butoxyethanol is a primary alcohol that is ethanol in which one of the methyl hydrogens is replaced by a butoxy group. A high-boiling (171℃) colorless liquid, it is used as a solvent for paints and inks, as well as in some dry cleaning solutions. It has a role as an aprotic solvent. It is a primary alcohol and an ether.
On the basis of Application, the market is segmented into Epoxy Paint Thinner, Alkyd Paint Thinner, Polyurethane Paint Thinner, Acrylic Paint Thinners, and Others.
Epoxy paint thinner is the most widely used type of paint thinners and it is also a common chemical in many other industries. It's one of the cheapest types to produce, meaning that any company can make this product without having to use too many resources. They are often sold as pure liquids or dissolved in solvents, such as acetone or benzene.
Alkyd paint thinner is used to thin alkyd or oil-based paints. The solvent will dissolve the binder (or base) in a diluted form for easy application with brushes or rollers.
These types of paints also work well with no solvents but are much thicker than any other type which can lead to clogging up spray guns and airbrushes. They're good at resisting wear and tear as they resist water permeation, so they'll last a lot longer than most paints that you will buy in stores.
Polyurethane paint is a type of paint that has an elastic quality to it. It's used on items such as furniture, cars, or walls and the base for this is usually polyester resin.
This is one of the best options for durability because it's very strong when applied over top coatings, stains, or primers that have polyester resins in them (or Urethanes). The only downside is that this type of thinner takes a while to dry on the surface, which can cause it to look streaky if not applied properly.
Acrylic paint is a type of paint that has become very popular lately. It's usually used on things such as furniture, cars, or walls and the base for this is acrylic resins (or Acrylates).
Acrylics are best for indoor use, such as on the walls of a living room or kitchen. They don't have to be sealed with the same kind of oil-based varnish that other types of paint do and they're easier to clean up when you make a mess because they dry more quickly than other types of paint. Acrylics also cost less than polyurethane or alkyd paints because acrylic-paint thinners can usually be mixed using water instead which reduces material costs by about one-third.
On the basis of Region, the market is segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. On a global scale, North America commanded the largest market share in terms of value for paint thinners followed by Europe.
In terms of volume, Latin America dominated with its large population base coupled with cheap labor which led to it being one of the key manufacturers on the planet.
The global paint thinner market has been witnessing increased demand in the Asia Pacific region due to growing construction activities and industrialization of countries such as India and China. Furthermore, other factors contributing towards growth are increasing disposable income in countries such as China and India, increase in the population of countries like China, which also leads to increased construction activities.
Growth is anticipated across all regions with a large number of drivers that have led to an increase in demand for paint thinners worldwide, especially from emerging markets. In addition, there is a greater focus on environmental conservation efforts by governments around the world resulting in more stringent emission regulations limiting air pollution caused by traditional painting methods. All these factors lead to various innovations within this industry space paving way for sustainable business opportunities.
Up Market Research published a new report titled “Paint Thinners Market research report which is segmented by Types (Acetone, Turpentine, Naphtha, Toluene, Methyl Ethyl Ketone (MEK), Dimethylformamide (DMF), 2-Butoxyethanol, Others), By Applications (Epoxy Paint Thinner, Alkyd Paint Thinner, Polyurethane Paint Thinner, Acrylic Paint Thinner, Others), By Players/Companies Akzo Nobel, BASF, PPG, Sherwin-Williams, CMP, Axalta, Nippon, Jotun, Henkel, Kansai, Hempel, KCC, RPM, 3M”.
|Report Attributes||Report Details|
|Report Title||Paint Thinners Market Research Report|
|By Type||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 Companies||Akzo Nobel, BASF, PPG, Sherwin-Williams, CMP, Axalta, Nippon, Jotun, Henkel, Kansai, Hempel, KCC, RPM, 3M|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||209|
|Number of Tables & Figures||147|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Acetone, Turpentine, Naphtha, Toluene, Methyl Ethyl Ketone (MEK), Dimethylformamide (DMF), 2-Butoxyethanol, Others and By Application Epoxy Paint Thinner, Alkyd Paint Thinner, Polyurethane Paint Thinner, Acrylic Paint Thinner, Others.
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Paint Thinners Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Paint Thinners Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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