Paint Stripper Market is to Observe Strong Development by 2031
Global Paint Stripper Market Outlook
The global paint stripper market is estimated at USD 941.4 Million in 2022 and is forecast to surpass USD 1,454.9 Million by 2032, growing at a CAGR of 4.4% from 2022 to 2032.
| Report Attributes | Details |
| Base Year Value (2021A) | USD 906.2 Million |
| Estimated Year Value (2022E) | USD 941.4 Million |
| Projected Year Value (2032F) | USD 1,454.9 Million |
| Global Growth Rate (2022-2032) | CAGR 4.4% |
| North America Market Share in 2021 | ~26% |
| North America Growth Rate (2022-2032) | CAGR ~4.6% |
| Collective Value Share (US, China, India) 2022: Top 3 Countries | ~42% |
| Top 5 Companies Market Share in 2021 | ~24% |
| Key Companies Profiled | Green ProductsHenkelnaFranmar ChemicalUnited Gilsonite LabsFiberlock TechnologiesAkzoNobelFormbysAbsolute CoatingsSavogranPPG AerospacePackaging Service Co.Other Market Players |
The global paint stripper market is likely to create an absolute dollar opportunity of USD 513.5 Million by the end of 2032. The global paint stripper market holds <1% of the global paints and coatings market.
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2017-2021 Global Paint Stripper Market Outlook in Comparison to 2022-2032 Growth Forecast
Paint stripper is a paint remover containing chemicals which is used to remove paints, coatings and finishes to clean surfaces, doors, or parts of furniture. Paint stripper comes for different applications such as for metals, walls, wood, cars, plastic, concrete, and aluminium etc.
The inappropriate usage of paint stripper can lead to harm to the user. The increase in investment in infrastructure and construction projects and the rising urbanization leading to increase in manufacturing output is likely to support paint stripper market growth and is to provide a gain of 210 BPS to the paint stripper market in coming years.
Fact.MR projects the paint stripper market is expected to witness exhibiting growth at 4.4% CAGR during 2022 and 2032 in comparison to a CAGR of 2.9% with which it grew from 2017 and 2021.
Multiple Applications Supporting Market Demand
Getting rid of old paint is the most troublesome thing while renovating home, refurnishing commercial and residential buildings. Failing to a proper-paint stripping technique could result in bubble and chip formation that leads to peel off. Paint Stripper is a synonym for paint remover, is a product containing chemicals such as Methylene Chloride, Dichloromethane which helps in removing types of paint, coating and varnish as well as cleans the underlying area.
With increasing awareness and the prominence given to the environmental safety, now paint strippers products has been launched in the market over last half decade. These include products with ingredients like hydrogen peroxide, alkaline, acidic and other organic products. With numerous applications across industrial, laboratory and commercial sector, paint stripper market is expected to grow at a CAGR of 4.4% over the assessment period.
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Recent Trends Supporting Market Growth
The paint stripper market is growing rapidly with the increase in the demand for its number of applications in industries such as automotive, furniture / flooring, construction, marine, mining, packaging, energy and others. As various health issues are associated with the usage of these paint strippers/removers, it has resulted in strengthening the regulation policies by Government, which might hamper the growth of the market.
The market has shown huge demand for biochemical paint stripper compared to other stripers in recent decade as it causes no harm to human health as well as environment. This has given rise to innovation in the product category and has resulted in more number of market competitors with environment-friendly paint stripper. All the above listed factors are likely to support market growth by 1/5th of current levels over the assessment period of 2022-2032.
Paint Stripper: Market Regional Outlook
On the basis of geographical locations, the paint stripper market is segmented into different areas as per the usage of the application industry and market of other associated products. As the aerospace industry is one among the key factor which is driving the growth of global paint stripper market, North America dominates the market with a well-established aerospace industry followed by Europe, Latin America, East Asia, South Asia and Oceania, and Middle East and Africa (MEA). One of the largest portion of the market is covered by Mature Europe including Austria. China is seen as one of the key emerging markets for paint stripper in the East Asian region.
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Published Sun, 10 Apr 2022 04:02:42 -0500
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