Brazil Paint Thinner Market

Synopsis
The above chart is Brazil Paint Thinner Market Outlook (2018 to 2032)

Market Dynamics

paint thinners are essential components to ensure the quality of paints during application. as a result, a high dependence on public and private construction and automotive sectors in brazil has created the demand for paint thinners. with the brazilian economy expected to experience revival in the coming years, analysts have predicted an increase demand for paint thinners in the country. over the past few years, the demand for paint thinners has been rapidly and consistently growing. paint thinners are in huge demand in vehicle manufacturing and automotive repair & maintenance sectors, drive their use. economic and industrial growth in the country has further resulted in burgeoning demand from the construction sector as well. furthermore, initiatives from the brazilian government to boost production activities in key industries have augmented the market’s growth. the primary type of paint thinner used in brazil is mineral spirits, which are derived from petroleum. this can be easily obtained in large quantities, making it a popular option. however, the high voc (volatile organic compounds) content of mineral spirits based thinners had lead to the introduction of water-based thinner as an eco-friendly alternative. the various advantages of water-based thinners, such as being voc-free and inherently safer to the environment have seen the product being preferred more over its mineral spirit counterpart. in the current market, the key players in the paint thinner market are ppg, sherwin-williams, akzonobel, rpm, henkel and 3m. other smaller players, such as hempel and kansai have also been rising as an unplanned-for threat that cannot be ignored. going forward, it can be expected that the paint thinner market in brazil will grow significantly over the next decade. as the country’s economy is likely to see immense growth during this time period, it is also likely that the demand for paint thinners will go up accordingly. in addition, the proposed intervention from the government to reduce the cost of raw materials and accelerate the cost of activities also bode well for the market’s outlook. the introduction of substitute products could further fuel the market’s growth. as such, the future outlook for the paint thinner market in brazil looks bright.