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Paint Stripper Market

Paint Stripper Market

Paint Stripper Market Share & Trends Analysis, By Chemical Type (Caustic paint stripper, Solvent paint stripper, Biochemical paint stripper), By Packaging Type (Bucket, Drum, Others), By Grade (Industrial Grade, Technical Grade, Others), By End-use, By Region Forecast - Global Review 2022 to 2032

Paint Stripper Market
FACT4940MR

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 Products
  • Henkelna
  • Franmar Chemical
  • United Gilsonite Labs
  • Fiberlock Technologies
  • AkzoNobel
  • Formbys
  • Absolute Coatings
  • Savogran
  • PPG Aerospace
  • Packaging 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.

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.

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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.

The major demand for paint stripper is seen in America, Europe and Asia Pacific. Paint strippers are used across many industries such as aerospace, automotive, energy and construction, and growth in these industries has resulted in increase in the demand for paint removal products.

Region-based segmentation of the market shows how various paint removal solutions are used across various continents and geographical area. Solvent-based paint stripper and caustic based paint stripper are the two major type of paint strippers based on their chemical configuration and elements involved in producing them.

Solvent paint stripper contains active ingredients which are extremely flammable. Whereas caustic paint strippers contain ingredients with high pH-value usually sodium hydroxide which might cause skin burn so the care has to be taken while applying it. This disadvantages of solvent and caustic paint stripper has given rise to the new category of biochemical paint strippers which are derived from plants and are environmental friendly.

Further, the COVID-19 pandemic has adversely affected the demand supply equilibrium of paint stripper industry. Lockdown across all the major countries of the world has given a set back to the production of paint strippers and the consumption statistics of paint stripper have also experienced a dip in the first two quarters of 2020.

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.

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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.

Prominent players In Paint Stripper Market

The prominent key player in the market across the globe of paint stripper include Asian paints, Nippon paints, 3M, GSP, Henkelna, PPG Aerospace, AkzoNobel, Franmar Chemical, United Gasoline Labs and EZ Strip. In the verge of becoming best worldwide and providing better services to the customers and meeting their requirement as well as being abide by the rules, regulations and Governmental policies has been a challenge for all the players in the market of paint stripper. Increase in the number of competitors has resulted in providing a better and innovative product with minimal error and high precision.

Competitive Landscape: Top Companies in Paint Stripper Market

The global paint stripper market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the manufacturing of paint stripper.

Fact.MR has provided detailed information about price points of key manufacturers in paint stripper market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • AkzoNobel in 2021 announced to acquire Grupo Orbis, which is a paints and coatings company based in Columbia. This acquisition will help in the geographic expansion of the company in South and Central America and will align with the Grow & Deliver strategy of creating global positions and driving growth in emerging markets
  • Nippon Paints in 2021 announced to acquire Cromology, which is the 4th largest architectural paints manufacturer in Europe

Global Paint Stripper Market by Category

By Product Type, Global Paint Stripper Market is segmented as:

  • Caustic Paint Stripper
  • Solvent-based Paint Stripper
  • Biochemical Paint Stripper

By End-Users, Global Paint Stripper Market is segmented as:

  • Vehicle Maintenance
  • Aerospace
  • Renovations
  • Furniture Refinishing
  • Industrial Repairs
  • Others

By Region, Global Paint Stripper Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

- FAQs -

The global value of paint stripper market is estimated to be worth over USD 941.4 Million in 2022.
The demand is anticipated to surpass USD 1,454.9 Million by 2032 end.
During 2017-2021, global paint stripper market grew at 2.9% CAGR.
Some of the prominent players in paint stripper market are Green Products, Henkelna, Franmar Chemical, United Gilsonite Labs, Fiberlock Technologies, Akzonobel, etc.
North America tops the global paint stripper market accounting for 25.9% of global market share in 2022.
Caustic type paint stripper under the product type contributes 37.9% of market share in global sales of paint stripper.

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