Market Overview:
The global lacquer thinner market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for lacquer thinners from various applications, such as temperature silicone paint, acrylic paint, lacquers and others. In addition, the growing demand for mineral spirits and oil of turpentine across different regions is also contributing to the growth of this market. However, volatility in prices of raw materials may restrain the growth of this market during the forecast period.
Product Definition:
Lacquer thinner is a solvent used to thin lacquer and remove any excess lacquer from the object being coated. It is also used to clean spray guns and other painting tools.
Mineral Spirits:
Mineral spirits or methanol are widely used as lacquer thinner in the wood finishing industry. It is a colorless and flammable organic liquid that has a strong smell similar to gasoline. Mineral spirits can be produced from natural gas, coal, shale oil, tight oil or bio-based materials such as corn syrup. The U.S.
Oil of Turpentine:
Oil of turpentine is a solvent obtained from pine trees by distillation and has been used as an essential ingredient in lacquers, paints, varnishes & insecticides. It is also used as a wood preservative. Turpentine oil finds application in various industries such as furniture laminates & veneers, printing ink (for flexographic and gravure printing), rubber processing (as a tire additive) and textile industry (as sizing agent).
Application Insights:
Temperature silicone paint was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. It has a wide range of applications in construction, automotive, electronics and electrical sectors. The product helps reduce drying time as well as increases efficiency of production thus increasing productivity. In addition, it also helps improve gloss retention property which further cements its position as one of the most preferred products across various industries globally.
The acrylic paint segment is also expected to witness significant growth during the forecast period owing to rising demand for water-based paints with high color consistency from various end-use industries such as construction and decorative painting among others globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing consumption of automotive products, coupled with growing industrialization across emerging economies such as China, India, Indonesia and Thailand. Moreover, rising disposable income levels are anticipated to fuel product demand further.
The Asia Pacific has been a major producer as well as consumer of lacquer thinners owing to availability of raw materials at low cost coupled with high production volume in countries such as China and India. Rapidly expanding manufacturing base in these countries along with availability of skilled labor is expected to drive regional growth over the next eight years.
Europe accounted for more than 20% share in terms of revenue due to presence several premium car manufacturers including Audi AG; BMW AG; Mercedes-Benz AMBENDS LLC; Jaguar Land Rover Limited; Porsche Cars GmbH & Co., Ltd.
Growth Factors:
- Increasing demand from the automotive and aerospace industries for lacquer thinners as a solvent for coatings and adhesives.
- Growing popularity of water-based lacquers, which require less use of solvents like lacquer thinners.
- Rising demand from the construction industry for coatings and sealants that require use of lacquer thinners as a solvent.
- Rapid growth in the Asia Pacific region, especially in China and India, due to rising income levels and increasing demand from end-use industries such as automotive, construction, and furniture manufacturing.
Scope Of The Report
Report Attributes
Report Details
Report Title
Lacquer Thinner Market Research Report
By Type
Mineral Spirits, Oil of Turpentine
By Application
Temperature Silicone Paint, Acrylic Paint, Lacquers, Others
By Companies
Sunnyside Corporation, W.M. Barr, Startex, Al Sanea, The NEUCE group, Produits Lubri-Delta inc., Recochem Inc., Tamiya America, Krylon, Sunnyside Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
216
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Lacquer Thinner Market Report Segments:
The global Lacquer Thinner market is segmented on the basis of:
Types
Mineral Spirits, Oil of Turpentine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Temperature Silicone Paint, Acrylic Paint, Lacquers, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sunnyside Corporation
- W.M. Barr
- Startex
- Al Sanea
- The NEUCE group
- Produits Lubri-Delta inc.
- Recochem Inc.
- Tamiya America
- Krylon
- Sunnyside Corporation
Highlights of The Lacquer Thinner Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Spirits
- Oil of Turpentine
- By Application:
- Temperature Silicone Paint
- Acrylic Paint
- Lacquers
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lacquer Thinner Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Lacquer thinner is a type of solvent that is used to thin lacquer. It can be used to remove lacquer from wood, metal, and other materials.
Some of the major players in the lacquer thinner market are Sunnyside Corporation, W.M. Barr, Startex, Al Sanea, The NEUCE group, Produits Lubri-Delta inc., Recochem Inc., Tamiya America, Krylon, Sunnyside Corporation.
The lacquer thinner market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lacquer Thinner Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Lacquer Thinner Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Lacquer Thinner Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Lacquer Thinner Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Lacquer Thinner Market Size & Forecast, 2020-2028
4.5.1 Lacquer Thinner Market Size and Y-o-Y Growth
4.5.2 Lacquer Thinner Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Mineral Spirits
5.2.2 Oil of Turpentine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Temperature Silicone Paint
6.2.2 Acrylic Paint
6.2.3 Lacquers
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Lacquer Thinner Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Lacquer Thinner Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Mineral Spirits
9.6.2 Oil of Turpentine
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Temperature Silicone Paint
9.10.2 Acrylic Paint
9.10.3 Lacquers
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Mineral Spirits
10.6.2 Oil of Turpentine
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Temperature Silicone Paint
10.10.2 Acrylic Paint
10.10.3 Lacquers
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Mineral Spirits
11.6.2 Oil of Turpentine
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Temperature Silicone Paint
11.10.2 Acrylic Paint
11.10.3 Lacquers
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Mineral Spirits
12.6.2 Oil of Turpentine
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Temperature Silicone Paint
12.10.2 Acrylic Paint
12.10.3 Lacquers
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Mineral Spirits
13.6.2 Oil of Turpentine
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Temperature Silicone Paint
13.10.2 Acrylic Paint
13.10.3 Lacquers
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Lacquer Thinner Market: Competitive Dashboard
14.2 Global Lacquer Thinner Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sunnyside Corporation
14.3.2 W.M. Barr
14.3.3 Startex
14.3.4 Al Sanea
14.3.5 The NEUCE group
14.3.6 Produits Lubri-Delta inc.
14.3.7 Recochem Inc.
14.3.8 Tamiya America
14.3.9 Krylon
14.3.10 Sunnyside Corporation
