Epoxy Paint Thinner Market Trends

Growth Drivers

Growing Construction Industry: The construction industry is a major end user of epoxy paints and epoxy paint thinners. With population growth and urbanization, the demand for new residential and commercial buildings increases, leading to the development of the construction industry. This in turn increases the demand for epoxy paints and associated thinners. The global construction industry has been one of the largest industries in the world. In the year 2019, the global construction industry was valued at approximately USD 11.4 trillion.
Rise in Pharmaceutical Sector: Paint thinners are also used as solvents in the pharmaceutical and dye industries. The increasing elderly population and declining birth rates around the world are increasing the demand for pharmaceutical products. The pharmaceutical industry is expected to grow in the coming years through continuous product innovation and expansion of existing product applications. The automotive industry is also expected to become an important end user of paints and coatings. This is estimated to increase the demand for paint thinners during the forecast period.
Growth in Demand: Epoxy coatings are particularly suitable for metals, floors and other surfaces that require a quick-drying protective coating. It is also used on concrete floors in industrial and commercial applications such as commercial and retail stores, aircraft hangars, aircraft hangars, industrial plants, aircraft hangars, hospitals, showrooms, manufacturing plants, workshops, and others.

Challenges

Environmental Regulations: Stricter environmental regulations and concerns about volatile organic compounds (VOCs) have posed a significant challenge to the epoxy paint thinner market. Many regions and countries have implemented regulations limiting VOC emissions from paint and coatings products. Manufacturers have had to reformulate their products to meet these regulations, which can be costly and require significant research and development efforts.
High Cost of Raw Materials
Competition in the Epoxy Paint Thinner Sector

Epoxy Paint Thinner: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	~7%
Base Year Market Size (2023)	~ USD 12 Billion
Forecast Year Market Size (2036)	~ USD 23 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Frequently Asked Questions (FAQ)

Increasing demand for construction sector is the major factor driving the market growth.

The market size of epoxy paint thinner is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems Ltd., Hempel A/S, and others.

The construction segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Epoxy Paint Thinner Market Trends