The paint stripper global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Paint Stripper Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The paint stripper market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growth in the manufacturing sector, demand for eco-friendly and biodegradable paint strippers, government regulations, economic growth, urbanization.
The paint stripper market size is expected to see steady growth in the next few years. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing demand for environmentally-friendly formulations, expanding construction industry, rising popularity of diy projects and home renovations, increase in investment in infrastructure and construction projects, increase in the demand for paint removal products. Major trends in the forecast period include innovation and product development, technological advancements, develop paint stripper formulations, increase in mergers and acquisitions, .
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The expanding construction industry is expected to propel the growth of the paint stripper market. Construction combines various elements to create a structure for a specific location, using a detailed design and plan. Paint strippers are used in the construction industry for surface preparation and maintenance, as they can be used to remove old and decaying paint or coatings. For instance, in June 2021, according to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, construction activity saw a 3.7% rise in March 2021. Further, in 2021, residential activity increased by 4.3% in 2021 over 2020. Additionally, according to the US Census Bureau, with a growth rate of 10.2%, the value of construction activities climbed from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Therefore, the expanding construction industry is driving the growth of the paint stripper market.
Market Trends –
Major companies operating in the paint stripper market are developing innovative products such as solvent-based paint strippers, a chemical solution designed to dissolve and remove paint coatings by breaking down their chemical bonds. For instance, in 2023, Propspeed, a New Zealand-based company, launched Stripspeed, a new solvent-based stripper. The stripspeed method of removing foul-release coatings without grinding or dusting is simple and effective because of its solvent-based paint-stripping technology. Stripspeed can save up to 33% of the preparation time for smooth surfaces like propellers and shafts and up to 50% for more complicated surfaces like swim platform armatures. It produces no harmful dust or debris and is non-flammable, non-caustic, and devoid of DCM and NMP. They were designed to assist prop speed applicators in priming metal surfaces for subsequent application.
The paint stripper market covered in this report is segmented –
1) By Type: Solvent Type, Caustic Type, Acidic Type
2) By Packaging Type: Bucket, Drum
3) By Grade: Industrial Grade, Technical Grade
4) By End User: Aerospace, Automotive, Marine, Oil & Gas, Packaging , Other End Users
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Regional Insights –
North America was the largest region in the paint stripper market in 2023. The regions covered in the paint stripper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the paint stripper market report are 3M Company, Henkel AG & Co. KGaA, Sherwin-Williams, The Sherwin-Williams Company, PPG Industries, AkzoNobel, Nippon Paint Holdings Co. Ltd., RPM International Inc., Asian Paints, United Gilsonite Laboratories, Jasco, Green Products, Fiberlock Technologies, Tri-State Fabricators, Inc., Franmar Chemical Inc., Sunnyside, EZ Strip Inc., Savogran, Vitex Corp., SRI Performance, Twin Specialties, Citristrip, CHEMEON, Dumond Chemicals, Motsenbocker’s Lift Off, Blue Bear, Formby’s, Klean-Strip
Table of Contents
1. Executive Summary
2. Paint Stripper Market Report Structure
3. Paint Stripper Market Trends And Strategies
4. Paint Stripper Market – Macro Economic Scenario
5. Paint Stripper Market Size And Growth
…..
27. Paint Stripper Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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