The Global Paint Thinner Market was valued at approximately USD 10.8 Billion in 2023 and is projected to reach USD 14.3 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period (2023–2030). This steady growth is fueled by a robust expansion in the global construction and automotive industries, rising demand for maintenance and repair operations (MRO), and the ongoing development of low-VOC (Volatile Organic Compound) and eco-friendly solvent formulations.

As industries worldwide prioritize durability, aesthetics, and environmental compliance, the role of high-performance paint thinners is more critical than ever. They are essential for achieving the right viscosity, improving application, and ensuring a flawless finish across countless applications. In this analysis, we profile the Top 10 Companies in the Paint Thinner Industry—a group of chemical giants and specialty manufacturers that are shaping the future of surface coating and preparation.

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2023-2030 Global and Regional Paint Thinner Industry Status and Prospects Professional Market – View in Detailed Research Report

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🔟 1. Akzo Nobel N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Specialty Thinners for Industrial and Decorative Paints

Akzo Nobel, the parent company of iconic brands like Dulux and International Paint, is a global leader in paints and coatings. The company produces a wide array of high-performance thinners tailored for its vast product portfolio, serving the marine, automotive, consumer goods, and architectural sectors.

Sustainability and Innovation Initiatives:

• Commitment to developing water-based and low-VOC solvent solutions
• Pioneering bio-based and circular thinner formulations
• Targeting 100% carbon-neutral operations by 2050

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9️⃣ 2. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Solvents and Thinners for Automotive and Industrial Coatings

As one of the world’s largest chemical producers, BASF supplies essential solvents and thinners that are critical components in high-performance coating systems. Their products are engineered for optimal evaporation rates, solubility, and compatibility with complex resin systems.

Sustainability and Innovation Initiatives:

• Expansion of its “VerSus” portfolio of sustainable solvent solutions
• Investment in advanced recycling processes for solvent recovery
• Focus on reducing the carbon footprint of its solvent production

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8️⃣ 3. PPG Industries, Inc.

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Custom Thinners for Aerospace, Automotive, and Industrial Applications

PPG is a premier global supplier of paints, coatings, and specialty materials. The company’s thinner products are formulated to meet the stringent requirements of the aerospace and automotive OEM industries, ensuring perfect film formation and finish quality.

Sustainability and Innovation Initiatives:

• Development of compliant thinners for new low-VOC coating technologies
• Strong R&D focus on enhancing application efficiency and reducing waste
• Active participation in global sustainability partnerships

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2023-2030 Global and Regional Paint Thinner Industry Status and Prospects Professional Market – View in Detailed Research Report

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7️⃣ 4. The Sherwin-Williams Company

Headquarters: Cleveland, Ohio, USA
Key Offering: Thinners for Architectural, Industrial, and Protective Coatings

Sherwin-Williams operates one of the largest specialty coatings and thinner distribution networks globally. Its comprehensive range of solvents is designed to work seamlessly with its renowned paint brands, providing professionals with reliable performance and consistent results.

Sustainability and Innovation Initiatives:

• Leadership in formulating environmentally preferred thinner products
• Ongoing investment in green chemistry and sustainable sourcing
• Commitment to reducing VOC content across its entire product line

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6️⃣ 5. Axalta Coating Systems

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: High-Performance Thinners for Automotive Refinish and Industrial Markets

Axalta is a leading global supplier of liquid and powder coatings. The company’s thinner products are critical for the automotive refinish industry, where precise viscosity control is essential for color matching and achieving showroom-quality finishes.

Sustainability and Innovation Initiatives:

• Development of fast-evaporating, low-VOC thinners to improve shop efficiency
• Focus on creating safer chemical alternatives for users and the environment
• Global sustainability strategy aligned with UN Sustainable Development Goals

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5️⃣ 6. Nippon Paint Holdings Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Thinners for Automotive, Industrial, and Decorative Coatings

Nippon Paint is one of Asia’s largest coating manufacturers with a significant global footprint. The company produces a diverse range of thinners that support its extensive product lines, with a strong focus on innovation and technological advancement.

Sustainability and Innovation Initiatives:

• Heavy investment in R&D for next-generation, eco-friendly solvents
• Expansion of production capacity to serve growing Asian and global markets
• Commitment to developing products that contribute to a carbon-neutral society

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4️⃣ 7. Jotun A/S

Headquarters: Sandefjord, Norway
Key Offering: Specialty Thinners for Marine, Protective, and Decorative Coatings

Jotun is a major international producer of paints, coatings, and powder coatings. The company’s thinner products are engineered for extreme conditions, particularly in the marine and protective coatings sectors, where durability and performance are paramount.

Sustainability and Innovation Initiatives:

• Pioneer in developing biocidal-free and environmentally acceptable antifouling systems
• Strong focus on reducing the environmental impact of its solvent-based products
• Global initiatives for safe chemical handling and usage

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2023-2030 Global and Regional Paint Thinner Industry Status and Prospects Professional Market – View in Detailed Research Report

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3️⃣ 8. Henkel AG & Co. KGaA

Headquarters: Düsseldorf, Germany
Key Offering: Solvents and Thinners for Industrial Adhesives and Surface Technologies

While renowned for its adhesives, Henkel is also a significant player in surface treatment technologies. The company produces specialized thinners and solvents that are integral to its Loctite and Teroson brands, serving the automotive, electronics, and aerospace industries.

Sustainability and Innovation Initiatives:

• Ambitious targets to achieve 100% recyclable or reusable packaging
• Development of solvent-free and water-based alternatives
• Leadership in creating sustainable value chains

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2️⃣ 9. Hempel A/S

Headquarters: Kongens Lyngby, Denmark
Key Offering: Thinners for Marine, Protective, and Container Coatings

Hempel is a leading global supplier of decorative, protective, and marine coatings. The company’s comprehensive range of thinners is designed to optimize the performance of its coatings in some of the world’s most demanding environments, from offshore rigs to large infrastructure projects.

Sustainability and Innovation Initiatives:

• Doubling its sustainability efforts through its “Futureproof” strategy
• Investing heavily in R&D for more sustainable coating and solvent solutions
• Targeting a significant reduction in VOC emissions from its products

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1️⃣ 10. RPM International Inc.

Headquarters: Medina, Ohio, USA
Key Offering: Thinners for Consumer, Industrial, and Specialty Coatings

RPM is a multinational holding company with a vast portfolio of coating, sealant, and specialty chemical brands, including Rust-Oleum and Tremco. Its thinner products are essential components across its diverse brands, serving DIY, professional, and industrial markets.

Sustainability and Innovation Initiatives:

• Strategic focus on acquiring and developing eco-friendly product lines
• Investment in manufacturing processes that reduce waste and energy consumption
• Commitment to product stewardship and responsible sourcing

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2023-2030 Global and Regional Paint Thinner Industry Status and Prospects Professional Market – View in Detailed Research Report

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🌍 Outlook: The Future of Paint Thinner Is Smarter and More Sustainable

The paint thinner market is undergoing a significant transformation. While traditional mineral spirits and solvent-based formulations continue to hold substantial market share, the industry is aggressively investing in eco-friendly alternatives, advanced formulations, and digital solutions for supply chain optimization.

📈 Key Trends Shaping the Market:

• Accelerated shift towards bio-based, low-VOC, and green solvent formulations in North America and Europe
• Increasing regulatory pressure and stringent environmental norms driving product innovation
• Digitalization of inventory management and distribution channels for enhanced efficiency
• Strategic collaborations between chemical suppliers and coating manufacturers to develop integrated solutions

Read Full Report:
2023-2030 Global and Regional Paint Thinner Industry Status and Prospects Professional Market – View in Detailed Research Report

The companies listed above are not only supplying essential chemical solutions—they’re driving the sustainable transformation of the global coatings industry.