Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Paint Remover Market By Type, By Application: Global Opportunity Analysis and Industry Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The global paint remover market, valued at $1.0 billion in 2022, is on a trajectory to reach $1.5 billion by 2032, with a projected Compound Annual Growth Rate (CAGR) of 4.6% from 2022 to 2032.
Paint removers find widespread use in various applications, including surface preparation, furniture and architectural restoration, automotive refinishing, industrial coating removal, graffiti removal, as well as in numerous DIY projects and home improvement tasks. The process typically involves applying the paint remover, allowing it to penetrate the paint or coating, and then removing it.
One notable trend driving market growth is the increased demand for biochemical paint removers, a choice aligned with growing environmental consciousness. These products, formulated with natural and bio-based ingredients, are preferred by eco-conscious consumers for their lower levels of volatile organic compounds (VOCs) and safety for both users and the environment. Government regulations, aimed at reducing environmental pollution and minimizing exposure to harmful chemicals, have spurred the development and demand for these eco-friendly alternatives.
Biochemical paint removers are gaining popularity for their safety attributes. They are non-toxic, non-flammable, and produce reduced fumes and odors, making them suitable for health-conscious individuals and those working in enclosed spaces. Furthermore, these products have made substantial advancements in their paint-stripping efficacy, capable of removing various paint coatings, including latex, oil-based, epoxy, and more. Their enhanced performance has led to increased demand across various applications.
Manufacturers have responded to this demand surge by introducing a wider range of bio-based paint removers with different formulations and application methods. This diversification has made biochemical paint removers more accessible and appealing to consumers. Industries such as automotive refinishing, construction, and furniture restoration are increasingly adopting these eco-friendly solutions in line with their environmental goals and corporate social responsibility initiatives.
The growing demand for biochemical paint removers can be attributed to several factors, including environmental awareness, regulatory requirements, safety considerations, improved performance, product variety, and industry adoption. As sustainability continues to be a priority for both consumers and industries, the demand for biochemical options is expected to keep rising.
Key Benefits For Stakeholders:
- Quantitative analysis of market segments, trends, estimations, and dynamics for identifying market opportunities from 2022 to 2032.
- Insights into key drivers, restraints, and opportunities.
- Porter's five forces analysis for understanding buyer and supplier potency.
- In-depth analysis of market segmentation to determine prevailing opportunities.
- Revenue contribution mapping of major countries in each region.
- Market player positioning for benchmarking and market player positions.
- Analysis of global and regional paint remover market trends, key players, market segments, application areas, and growth strategies.
Market Dynamics
Drivers
- Increase in the demand for paint remover in various applications.
- Increased demand for biochemical paint removers.
Restraints
- Health and safety risks associated with paint remover products.
Opportunities
- Increased investments in construction and infrastructure.
Key Market Segments:
By Type:
- Solvent
- Caustic
- Acidic
- Other
By Application:
- Vehicle Maintenance
- Industrial Repair
- Building Renovation
- Furniture Refinishing
- Others
By Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players:
- PPG Industries, Inc.
- Akzo Nobel N.V.
- sunnyside
- EZ Strip Inc.
- Henkel AG & Co. KGaA
- Franklin Sports, Inc.
- FIBERLOCK
- United Gilsonite Laboratories
- Asian Paints Limited.
- Nippon Paint Holdings Co., Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value (USD) in 2022 | $1 billion |
| Forecasted Market Value (USD) by 2032 | $1.5 billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/71e84f
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