The growing demand of the coating resins in the automobile sector, along with the increased application in architecture, will boost the market growth.
The global coating resins market is forecast to reach USD 54.58 Million by 2027, according to a new report by Reports and Data. Coating resins are polymer compounds that are mainly used in the manufacturing of coatings and paints. These Coating resins protect objects and offer specific properties such as corrosion resistance, hardness, protection against unfavorable weather conditions, and stains. The technology used in the formulation of coating resins is generally water-based or solvent-based.
The growing use in the architectural sector is among the significant prospects of the growth of the coating resins market. The increasing construction of residential and non-residential buildings owing to the large economic expenditure for construction in emerging economies will result in large overall growth over the forecast period. Resins provide quick drying times, gloss, and superior weathering properties to the coating. The demand in roads making is significant driver growth of the coating resins market.
The volatile price of raw material is a major factor that hinders the market; the petroleum-based products are highly dependent on the prices of crude oil—the constant fluctuations in the crude-oil result in market restraints. The European market has seen a lack of demand; the fluctuations in demand for the products is inhibiting the growth of the coating resins market. The stringent government regulations are a major factor that is restricting the potential growth of the Coating Resins.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launch, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Dow Chemical, Royal DSM, Arkema, BASF SE, Allnex, Brenntag Specialties, Inc., Covestro, Evonik Industries AG, Momentive Specialty Chemicals, Inc., and Westlake Chemical Corporation., and The Chemical Company, among others.
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The Coating Resins market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Resin Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- vinyl
- Unsaturated Polyester Resin
- Saturation Polyester Resin
- Others
Technology Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Water-borne coatings
- Solvent-borne coatings
- Powder coatings
- Others
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Architectural
- Industrial
- Protective Marine
- Automotive OEM
- Vehicle Refinish
- Others
Key Regions Analyzed in the Report includes:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Furthermore, it consists of information about individual segment of the Coating Resins market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- Water-based coatings are expected to grow fastest in the technology segment; prevention of air pollution is a major concern of countries and organizations all over the world. The VOC emission standards control the coating resins market dynamics in major economies. Water-based coatings are now being applied in furniture and other industrial applications, and this shift in trend will be a major boost to the water-borne technology.
- The acrylic resins are expected to hold a major share of the coating resins market over the forecast period. They are mainly used in construction applications such as glazing light fixture, sanitary wares. The investment in major projects in the Asia Pacific will result in widespread use in the region.
- The automotive manufacturers use OEM coatings for passenger cars. The increasing use of electric vehicles is resulting in increasing demand for the coating resins, due to the impeccable protection provided by the resins. Vehicle refinishing sector is also contributing to the growth of the coating resins market, due to the vehicle aging or accidents.
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