Global Paint Thinners Market 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) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
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:
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:
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:
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:
Toluene is a solvent that dries the paint faster than other solvents, and it also reduces its thickness.
Methyl Ethyl Ketone (MEK):
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.
Dimethylformamide (DMF):
DMF is a solvent that dissolves the paint into droplets. It can also be used as an adhesive and in plastics manufacturing.
2-Butoxyethanol:
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:
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:
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 Thinner:
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 Thinner:
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 Factors For The Global Paint Thinners Market:
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 Scope
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 |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
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.
Global Paint Thinners Market Report Segments:
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.
Some of the companies that are profiled in this report are:
- Akzo Nobel
- BASF
- PPG
- Sherwin-Williams
- CMP
- Axalta
- Nippon
- Jotun
- Henkel
- Kansai
- Hempel
- KCC
- RPM
- 3M
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.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Paint Thinners Market
Overview of the regional outlook of the Paint Thinners Market:
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.
Highlights of The Paint Thinners Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Paint Thinners Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Acetone
2. Turpentine
3. Naphtha
4. Toluene
5. Methyl Ethyl Ketone (MEK)
6. Dimethylformamide (DMF)
7. 2-Butoxyethanol
8. Others
7. By Application:1. Epoxy Paint Thinner
2. Alkyd Paint Thinner
3. Polyurethane Paint Thinner
4. Acrylic Paint Thinner
5. Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Paint Thinners Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Paint Thinners Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Paint Thinners Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Paint Thinners Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Paint Thinners Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Paint Thinners Market Size & Forecast, 2018-2028
4.5.1 Paint Thinners Market Size and Y-o-Y Growth
4.5.2 Paint Thinners Market Absolute $ Opportunity
Chapter 5 Global Paint Thinners Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Paint Thinners Market Size Forecast by Type
5.2.1 Acetone
5.2.2 Turpentine
5.2.3 Naphtha
5.2.4 Toluene
5.2.5 Methyl Ethyl Ketone (MEK)
5.2.6 Dimethylformamide (DMF)
5.2.7 2-Butoxyethanol
5.2.8 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Paint Thinners Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Paint Thinners Market Size Forecast by Applications
6.2.1 Epoxy Paint Thinner
6.2.2 Alkyd Paint Thinner
6.2.3 Polyurethane Paint Thinner
6.2.4 Acrylic Paint Thinner
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Paint Thinners Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Paint Thinners Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Paint Thinners Analysis and Forecast
9.1 Introduction
9.2 North America Paint Thinners Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Paint Thinners Market Size Forecast by Type
9.6.1 Acetone
9.6.2 Turpentine
9.6.3 Naphtha
9.6.4 Toluene
9.6.5 Methyl Ethyl Ketone (MEK)
9.6.6 Dimethylformamide (DMF)
9.6.7 2-Butoxyethanol
9.6.8 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Paint Thinners Market Size Forecast by Applications
9.10.1 Epoxy Paint Thinner
9.10.2 Alkyd Paint Thinner
9.10.3 Polyurethane Paint Thinner
9.10.4 Acrylic Paint Thinner
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Paint Thinners Analysis and Forecast
10.1 Introduction
10.2 Europe Paint Thinners Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Paint Thinners Market Size Forecast by Type
10.6.1 Acetone
10.6.2 Turpentine
10.6.3 Naphtha
10.6.4 Toluene
10.6.5 Methyl Ethyl Ketone (MEK)
10.6.6 Dimethylformamide (DMF)
10.6.7 2-Butoxyethanol
10.6.8 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Paint Thinners Market Size Forecast by Applications
10.10.1 Epoxy Paint Thinner
10.10.2 Alkyd Paint Thinner
10.10.3 Polyurethane Paint Thinner
10.10.4 Acrylic Paint Thinner
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Paint Thinners Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Paint Thinners Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Paint Thinners Market Size Forecast by Type
11.6.1 Acetone
11.6.2 Turpentine
11.6.3 Naphtha
11.6.4 Toluene
11.6.5 Methyl Ethyl Ketone (MEK)
11.6.6 Dimethylformamide (DMF)
11.6.7 2-Butoxyethanol
11.6.8 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Paint Thinners Market Size Forecast by Applications
11.10.1 Epoxy Paint Thinner
11.10.2 Alkyd Paint Thinner
11.10.3 Polyurethane Paint Thinner
11.10.4 Acrylic Paint Thinner
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Paint Thinners Analysis and Forecast
12.1 Introduction
12.2 Latin America Paint Thinners Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Paint Thinners Market Size Forecast by Type
12.6.1 Acetone
12.6.2 Turpentine
12.6.3 Naphtha
12.6.4 Toluene
12.6.5 Methyl Ethyl Ketone (MEK)
12.6.6 Dimethylformamide (DMF)
12.6.7 2-Butoxyethanol
12.6.8 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Paint Thinners Market Size Forecast by Applications
12.10.1 Epoxy Paint Thinner
12.10.2 Alkyd Paint Thinner
12.10.3 Polyurethane Paint Thinner
12.10.4 Acrylic Paint Thinner
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Paint Thinners Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Paint Thinners Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Paint Thinners Market Size Forecast by Type
13.6.1 Acetone
13.6.2 Turpentine
13.6.3 Naphtha
13.6.4 Toluene
13.6.5 Methyl Ethyl Ketone (MEK)
13.6.6 Dimethylformamide (DMF)
13.6.7 2-Butoxyethanol
13.6.8 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Paint Thinners Market Size Forecast by Applications
13.10.1 Epoxy Paint Thinner
13.10.2 Alkyd Paint Thinner
13.10.3 Polyurethane Paint Thinner
13.10.4 Acrylic Paint Thinner
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Paint Thinners Market: Competitive Dashboard
14.2 Global Paint Thinners Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Akzo Nobel
14.3.2 BASF
14.3.3 PPG
14.3.4 Sherwin-Williams
14.3.5 CMP
14.3.6 Axalta
14.3.7 Nippon
14.3.8 Jotun
14.3.9 Henkel
14.3.10 Kansai
14.3.11 Hempel
14.3.12 KCC
14.3.13 RPM
14.3.14 3M