Strippable coatings also known as peelable coatings. It is a non-flammable, water based coatings which is easily detached from surfaces and discards the use of paint strippers and cleaners. These coatings comprises of water-based acrylic polymers, vapor phase corrosion inhibitors as well as a thixotropic thickener which aids in enhancing barrier, and surface protection properties. These coatings are majorly applied by brush, spray, dip and rolls up where coat layers varies up to a thickness of 2-mils. Strippable coatings find extensive usage on bare metal, painted surfaces, where surface protection and corrosion inhibition are obligatory. Apart from this, strippable coatings witness high demand as compared to conventional coatings owing to strong cohesive feature which eases its removal from the substrate without breaking.

The market is witnessing significant growth owing to growing applications of strippable coatings in protection of metal surfaces at times of shipping and storage. Zero VOC content, ease of application and easy disposability are some of the other significant factors for the market growth. Strippable coating being a specially formulated spray able coatings provides a tough as well as impervious dry film on the surfaces requiring protection from dirt and scratches. Strippable coatings exhibit a cost-effective method of removing particle contaminants from the surface of high quality parts as well as protecting the clean parts from surface damage. Therefore, these coatings witness extensive applications in end-user industries. Rising applications of peelable/strippable coatings in removal of debris and dust from coated lenses, mirrors and other optical surfaces acts as one of the emerging factor for the market growth. Additionally, surging demand of peelable coatings in the decontamination of hazardous and radioactive materials from the optical surfaces further augments the market growth.

However, presence of contaminants (such as grease and oil) in large concentration leads to poor adhesion of coatings to surface, which affects the release of film from surface. Thus, coatings cling to the irregular surfaces after losing its coherence and breaks into pieces on peeling. The aforementioned factor is exhibited to restrain the market growth during the forecast period.

Geographically, Asia-Pacific dominated the market and is also projected to grow rapidly during the forecast period due to rapid industrialization as well as flourishing automotive industry, majorly in countries such as Japan, China, Korea and Indonesia. Moreover, this region is also marked by the presence of multiple international and regional vendors, thus leading to the increased production and availability of these coatings. Tax subsidies, incentives and other governmental regulations have diverted original equipment manufacturers (OEMs) focus on countries such as Indonesia, Malaysia, and Thailand for production. However, Europe is expected to be the second largest market for strippable coatings and North America holding the third position majorly due to rising demand for peelable coating in automotive and aerospace industries.

Major key players present in this market include Wacker GmBH, Bemis Company, General Chemical Corporation, DuPont, Cal-West Specialty Coatings, Spraylat International, PPG Industries, Sherwin-Williams, Covestro, Evans Coatings, Kraton Corporation and Holman Paints.

In 2020, vinyl strippable coatings accounted for the maximum market share and is expected to witness significant growth during the forecast period owing to its rising utilization in protection of precision tools, bright steel, aluminum, enamel surfaces, mirrors, and lenses, etc. The coatings are sprayed in the thickness of 30-40 mils and then dried to form a rubbery film/protective coating. Benefit of using these coatings over its other counterparts is that it requires less drying and curing time and therefore, enhanced as a fast protection method at times of shipment and storage. Other factors such as long life, easy removal and ability to coat at irregular surfaces also drives the market growth. Apart from this, these coatings are also strippable even after years of protective service which also stimulates its application such as in spray booths, aircraft protection, tanks, and ships which in turn further drives the market growth.

Cellulosic strippable coatings is another segment which is projected to exhibit major growth potential during the forecast years. These coatings are designed for hot dip applications to withstand temperature of 177˚C and above and thickness of coating varies from 100 to 200 mils. Rising applications of these coatings in automotive industry for the protection of steel and aluminum parts from corrosion enhances the market growth. Moreover, the presence of mineral oil in these coatings increases its tensile strength and thus, protects the surface from corrosion and keeps the coating strippable for a long period.

In 2020, water-based strippable coatings accounted for the maximum market share and projected to remain dominant throughout the forecast period. Strippable coatings constitute 75% of water with slight presence of other solvents such as pentaerythritol ethoxylate, castor oil and glycol ethers. Water borne strippable coatings are progressively used as environment friendly coatings due to presence of zero volatile organic (VOC) content stated by U.S. and European regulatory agencies. High gloss, better pigmentation, excellent elasticity, resistance of coating film to certain temperature changes are some of the advantages offered by water based strippable coatings which enhance its demand in multiple end-use applications.  Currently, these coatings find extensive usage in applications such as in floors and countertops, as they are highly susceptible to grease, oil and dirt. Waterborne strippable coatings is therefore applied in liquid form where coating gets contaminated with the dirt and removal of these temporary coatings eliminates the contamination, thus, cleaning the surface.

Hot melt coatings are also poised to exhibit significant growth potential in the near future owing to its rising demand for strong, moisture resistant, rust prevention of cutting tools such as gages, blades, and gears during storage. These coatings save time and space and easily removable after 1 to 2 minutes. These coatings are increasingly used for identification of product, enhance product appearance, as well as inventory control which is projected to stimulate the market.

In 2020, aerospace and defense application dominated the market and is projected to maintain its dominance during the forecast period. This growth is majorly attributed to the rising use of peel able coatings as windshields in helicopter windows, to inhibit the formation of layer of rust and dust during shipping, transit and storage. Industry players such as General Chemical Corporation have designed line of eco-friendly strippable coatings to be utilized in the paint removal of aircraft parts and surfaces. These coatings form a skin-tight protective film around the substrates required during the fabrication, assembly and shipment. Furthermore, rising applications of strippable coatings to protect the metal from harsh chemical milling solutions is another significant factor for market growth.

Automotive and construction application segments exhibit huge market potential over the forecast period. Rising use of strippable coatings to protect automobiles from rock chips, adverse weather conditions and salted roadways is poised to be a significant factor for market growth. Additionally, there is increased use of peel able coatings in construction industry for the protection of glass, aluminum, steel and PVC. Certain new building laws directs the use of low emissivity (low-e glass) glass. Therefore, rising adoption of peel able coatings for the protection of expensive low emissivity glass is a significant factor fueling the market growth.

Asia-Pacific dominated the market in 2020 and is expected to maintain its dominance in the years to come. Asia-Pacific being a hub of multiple end-user industries such as construction, electronics and automotive and the use of strippable coatings among the aforementioned industries is expected to surge the market growth. Growing trend of partnerships of coating manufacturers with material suppliers, such as with companies manufacturing flooring, glass, and ceramic tiles in order to provide the customers with ready coated product, also boost the product demand. Additionally, rising demand for environment friendly coatings especially, in China, comprising of zero VOC content such as strippable coatings drive the market to a greater extent. Moreover, these coatings improves the life span of end-user products with consumption of less material and energy, acts as another factor driving the market growth. Apart from this, stringent environment regulations over the emission of VOC’s led to implementation of tax on low-solids solvent borne coatings which in turn drive the use of strippable coatings in this region.

Europe and North America are projected to witness moderate growth in the near future. Regulatory scenario among these regions have prompted coating manufacturers to develop sustainable, multi-functional coatings specifically for architectural, furniture, marine, woods and furniture industries.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Strippable Coatings market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Strippable Coatings market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Strippable Coatings market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Strippable Coatings market?
• Which is the largest regional market for Strippable Coatings market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Strippable Coatings market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Strippable Coatings market worldwide?