Paint Stripper Market Forecast: Growth and Market Dynamics 2024-2033

The Business Research Company’s Paint Stripper Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The paint stripper market size has exhibited robust growth, expanding from $1.25 billion in 2023 to $1.33 billion in 2024, at a compound annual growth rate (CAGR) of 5.8%. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. This growth in the historic period can be attributed to factors such as increased manufacturing sector activities, rising demand for eco-friendly formulations, stringent government regulations, economic growth, and urbanization.

Expanding Construction Industry Drives Market Growth
The expanding construction industry is a key driver for the paint stripper market, utilizing these chemicals for surface preparation and maintenance purposes. For instance, construction activities in New Zealand saw a significant rise, with a 3.7% increase in March 2021 alone. Similarly, the US witnessed a notable growth in construction activities, with the value climbing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. This surge underscores the vital role of paint strippers in renovation and maintenance projects within the construction sector.

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Major Players and Market Trends
Key players such as 3M Company, Henkel AG & Co. KGaA, and Sherwin-Williams are actively engaged in product innovation aimed at enhancing effectiveness and safety. In 2023, Propspeed introduced Stripspeed, a solvent-based paint stripper designed to remove foul-release coatings efficiently. This innovation underscores the industry's focus on developing advanced solutions that meet environmental standards while improving application efficiency.

Paint Stripper Market Segments
• Type: Solvent Type, Caustic Type, Acidic Type
• Packaging Type: Bucket, Drum
• Grade: Industrial Grade, Technical Grade
• End User: Aerospace, Automotive, Marine, Oil & Gas, Packaging, Other End Users

Regional Insights: North America Leading the Market
North America dominated the paint stripper market in 2023, driven by robust industrial and automotive sectors. The region's strong regulatory framework and technological advancements contribute significantly to market growth.

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Paint Stripper Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Paint Stripper Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on paint stripper market size, paint stripper market drivers and trends, paint stripper market major players, competitors' revenues, market positioning, and market growth across geographies. The paint stripper market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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