Paint Remover Market - Forecast(2023 - 2028)

Paint Remover Market Overview

Paint Remover Market size is forecast to reach US$2.1 billion by 2027, after growing at a CAGR of 6.7% during the forecast period 2022-2027. Paint remover, also known as paint striper, is a liquid product made up of esters, ketones, chlorinated hydrocarbons, methylene chloride, acetone, N-methyl-pyrrolidone, sodium hydroxide benzene, and alcohols that are used to remove paint and other finishes while also effectively cleaning the underlying surfaces. The market is expected to grow due to the rising demand for paint remover in a variety of applications. The expansion of the Paint Remover Market is primarily driven by rising demand from a variety of verticals, including renovations, vehicle maintenance, aerospace, and others. Furthermore, rising research and development activities to manufacture or develop eco-friendly paint removers, as well as increasing efficacy of biochemical paint removers, are expected to drive market growth over the forecast period.

COVID-19 Impact

Due to the COVID-19 pandemic, the Paint Remover Market declined in the year 2020. The pandemic wreaked havoc on the building and construction industry. In 2020, COVID-19 had slowed the market's growth and disrupted due to reduced raw material availability, commodity sales disruptions, disrupted trade movements, and lower demand for remodeling projects. For instance, according to The Office for National Statistics (ONS), the decrease in repair and maintenance (38.1 percent) in April 2020 was due to record month-over-month drops in all repair and maintenance sectors, with private housing repair and maintenance contributing the most (54.3 percent). The drop-in repair and maintenance (28.9%) in the three months leading up to May 2020 was due to record drops in all repair and maintenance sectors; the largest contributor was private housing repair and maintenance, which dropped by 39.8%. Due to this decrease in remodeling project activities, the demand for paint removers significantly reduced, which impacted the market revenue in 2020.

Report Coverage

The report: “Paint Remover Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Paint Remover Market.

Key Takeaways

• North America dominates the Paint Remover Market, owing to the increasing renovations and remodeling activities in the region. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the renovations and remodeling activities in North America.
• The market is anticipated to show huge demand for biochemical paint removers compared to other removers over the forecast period as it causes no harm to human health as well as the environment, thereby acting as a market opportunity.
• Furthermore, significant investment in R&D activities to develop eco-friendly products is expected to drive demand and provide a large market opportunity for the Paint Remover Market's key players.
• The high cost of paint removal products, on the other hand, is expected to stifle the market's overall growth.

Figure: North America Paint Remover Market Revenue, 2021-2027 (US$ Billion)

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Paint Remover Market Segment Analysis – By Type

The solvent type segment held a significant share in the Paint Remover Market in 2021 and is forecasted to grow at a CAGR of 6.5% during the forecast period 2022-2027. Solvent-based paint removers operate by dissolving the paint's bond with the object. The ingredients work by causing the paint to swell and weaken its adhesion to the surface. Water-based technology is included in the solvent-based paint striper category because water is the' solvent' in these products. Paint removers based on solvents are generally better at removing multiple layers of thick paint. They usually leave a clean, respectable surface that is free of stains and damage. Additionally, caustic-based paint removers have the potential to stain or scorch wooden surfaces, whereas solvent-based removers do not stain or damage the surface. Thus, solvent-based paint removers are dominating the market during the forecast period, owing to their favorable properties when compared with other paint remover types.

Paint Remover Market Segment Analysis – By End-Use Industry

The building & construction segment held the largest share in the Paint Remover Market in 2021 and is forecasted to grow at a CAGR of 7.4% during the forecast period 2022-2027. Paint removals enable building and construction professionals to remove things like chipped surfaces and paint coats from structures. Paint removal is also important in the building and construction industry because it helps clean the surface. Stained surfaces are a major impediment to a flawless paint job. Paint removal is the best way to get rid of these stains. If there is debris and dirt on a surface before painting it, these stains can change the texture and color of the paint. Chemical paint stripping, sandblasting, hand sanding, pressure washing, and scraping with a hand scrape tool are all options for removing dirt and debris. Furthermore, since not all interior building paint jobs are done to perfection, these jobs frequently fade over time as a result of visible wear and tear. To fix these problems, a professional painter must first remove the old paint. Removing the old paint allows the painters to remove the old paint job and work with a much smoother surface, resulting in a more polished, uniform, and finished look for the interiors and exteriors of the building. As a result, demand for paint remover in the building & construction industry is increasing significantly, contributing to the segment's growth over the forecast period.

Paint Remover Market Segment Analysis – By Geography

North American region held the largest share in the Paint Remover Market in 2021 up to 34%, owing to the increasing demand for paint remover from the growing renovations and remodeling activities in North America. The renovations and remodeling activities of buildings are increasing in the North American countries, driven by various government initiatives taken by the North American government. For instance, the historic Bridge Replacement, Rehabilitation, Preservation, Protection, and Construction Program was launched by the US Department of Transportation in January 2022. (Bridge Formula Program). The Ontario government invested $18.5 million in December 2021 to support 198 community agencies that provide critical social and community programs across the province with building repairs and renovations. The Government of Canada invested US$1.8 million in April 2021 through the Investing in Canada plan's Community, Culture, and Recreation Infrastructure Stream. The Kanata Recreation Centre and splash pad will be renovated and expanded as part of the project. In April 2021, The Department of Health and Human Services announced that the American Rescue Plan will contribute US$1 billion to construction and renovation projects at health centers. Health centers that receive this money can use it to fund COVID-19-related capital needs, such as building new facilities, renovating and expanding existing ones, and purchasing new equipment. As a result, the growth of the Paint Remover Market in the region is being aided by the increasing investments in the renovations and remodeling activities of buildings, thereby dominating the market in the North American region.

Paint Remover Market Drivers

Increasing Retrofitting and Renovation of Buildings

Retrofitting and renovation of buildings is on the rise for a variety of reasons, the most important of which is to improve living comfort and the indoor environment. For example, the Chinese State Council signed an order in July 2020 aimed at speeding up work on renovating old urban residential areas as a major project affecting people's lives to meet the requirements for improving life quality. By 2020, the country aimed to renovate 39,000 aging urban residential neighborhoods, more than doubling the goal of 7 million households set the previous year. According to the Office for National Statistics, Non-housing and public housing repair and maintenance increased by 1.6 percent and 0.9 percent, respectively, in the fourth quarter of 2019. Furthermore, compared to February 2020, construction output increased by 0.6 percent in November 2020, with repair and maintenance work increasing by 7.4 percent. With the increasing retrofitting and renovation of the buildings, it is predicted that there will be an upsurge in the demand for re-paint applications, which will eventually drive the paint removers market growth in the various region during the forecast period. 

Flourishing Automotive and Aerospace Industry

Paint removers are often used in the automotive and aerospace industry to correct mistakes, remove old paint while restoring, remove varnish, change the color of the vehicles, and more. The automotive and aerospace industry is flourishing in various countries. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production in Malaysia and Vietnam increased to 5,71,632 and 2,50,000 units, respectively, in 2019, up 1.2 percent and 5.5 percent from the previous year. according to the International Organization of Motor Vehicle Manufacturers, passenger vehicle production in Brazil increased from 2,387,967 units in 2018 to 2,448,490 units in 2019, an increase of 2.5%. Boeing predicted that China's airlines would spend US$1.4 trillion on 8,600 new aircraft and US$1.7 trillion on commercial aviation services over the next 20 years in November 2020. According to Boeing Commercial Market Outlook 2021-2040, by the end of 2040 North America will require 9,160 new airplane deliveries and Latin America will require 2,530 new airplane deliveries. The airline fleet growth between 2019-2040 is estimated to be 1.7% in North America and 3.4% in South America. With the increasing production of automobiles and aircraft, the demand for aftermarket refinish paints will also exponentially increase, which will aid the Paint Remover Market growth, thereby acting as a market driver. 

Paint Remover Market Challenges

Health Hazards Related to Paint Removers

Paint stripers contain a variety of chemicals, and the potential dangers vary depending on the product. If these chemicals are not used properly, they can cause harm or death. Some paint stripping chemicals can irritate the skin and eyes or cause headaches, drowsiness, nausea, dizziness, or loss of coordination because they are easily absorbed through the skin or inhaled. Some chemicals have been linked to cancer, developmental and reproductive issues, and liver, kidney, and brain damage. Others are quick to catch fire. In the laboratory, adverse health effects on the developing fetus have been observed in animals exposed to paint stripers. As a result, women of childbearing age who regularly work with or use paint stripers should take extra precautions to reduce their risk of dermal/or inhalation exposure. Do-it-yourself (DIY) projects are becoming increasingly popular among consumers. When using paint stripers in confined spaces, such as when refinishing bathtubs, the user risks inhalation and dermal absorption of hazardous chemicals, thereby increasing health risks. Thus, such health hazards related to painting removers are restricting its market growth. 

Paint Remover Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Paint Remover Market. Paint Remover Market top 10 companies are:

1. 3M
2. Green Products
3. Henkelna
4. Franmar Chemical
5. PPG (PPG Aerospace)
6. United Gilsonite Labs
7. Formbys
8. Fiberlock Technologies
9. EZ Strip
10. AkzoNobel 

Recent Developments

• In April 2020, "Model Paint Striper" - a new product was launched by NDS Eco Solutions. The Model Paint Striper was created to remove acrylic and enamel paints from wargaming and other types of models without causing any damage to the model.
• In February 2019, Indestructible Paint, a specialist paint manufacturer, has released a new paint stripping product with several environmentally-friendly features. The IPStrip 500 is a gel-based paint striper that removes paint from a variety of surfaces, including metal and plastic.
• In January 2019, Distribution J. Des Serres Inc. has introduced New Generation Striper by Super Remover®, an advanced, safer substitute for conventional paint stripers. The methylene chloride-free formulation already outperforms upcoming standards aimed at reducing the toxicity of household chemicals.

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