Demand for paint thinner solvent depends entirely on the performance of the end-use industry. Global lock-down has impacted the manufacturing and logistics sectors. The COVID-19 pandemic has had a severe impact on the paint thinner market.These factors act as key restraints for the paint thinner market. Consequently, industries is focusing on the development of bio-based solvents that can act as alternatives to traditional paint thinner. Paint thinners are highly flammable and hence, they need to be stored carefully in open ventilated spaces. Side-effects such as headache, nausea, and irritation can occur in case of inhalation. Paint thinner releases harmful fumes that can be absorbed by the body.This is estimated to augment the demand for paint thinner during the forecast period. The automobile industry is also expected to be a prominent end-user for paints and coatings. The pharmaceutical industry is projected to expand in the next few years due to continuous innovation in products and widening applications of existing products. Rise in geriatric population and lowering of birth rate across the globe has fueled the demand for pharmaceutical products. Paint thinner is also employed as a solvent in pharmaceutical and paints industries.It is utilized for cleaning, polishing, and purification in the manufacturing industry. Paint thinner is a key solvent used in oil-based paints. Furthermore, the manufacturing sector is also projected to expand at a rapid pace during the forecast period. The need of good water, power, and transportation infrastructure is increasing in developing countries. Developing countries are witnessing rapid urbanization. Spending on infrastructure projects is increasing among developing countries such as China, India, Indonesia, and Malaysia.Paint thinners are used in various end-use industries such as paints, manufacturing, industrial equipment, pharmaceuticals, coating & polishing, etc. Common paint thinners that are widely utilized in the industry are mineral spirits, acetone, toluene, ethyl ketone, glycol ethers, etc.It is also used to cleaning industrial equipment and tools by removing grease, tar buildup, and stains from the machine surface. The dissolving characteristic of paint thinner makes it preferable in case of oil paints. Paint thinner prevents the hardening of the paint when it is kept in the open. It is also employed to change the thickness of paints. It is primarily utilized to change the viscosity of paint. Paint thinner is a common solvent that is used in the paints industry.
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