The global Coating Resins market is forecasted to grow at a rate of 5.12% from USD 36.68 Million in 2019 to USD 54.58 Million in 2027. Coating resins are polymer compounds that are mainly used in the manufacturing of coatings and paints. These Coating resins provide protection to 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 choice of technology is dependent on the base location, the purpose of coatings, which helps in enhancing properties such as viscosity, adhesion, and cohesion, depending on the end-use.
Top Companies Operating in the Global Coating Resins Market:
Dow Chemical, Royal DSM, Arkema, BASF, Allnex, Brenntag Specialties, Inc., COVESTRO, EVONIK INDUSTRIES AG, Momentive Specialty Chemicals, Inc., and Westlake Chemical Corporation.
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Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
The coating resins market is expected to grow with the opportunities presented for solvent-based technologies in less-regulated regions. The continuous focus on using recyclable bio-based coatings will result in high demand for products in the industrial sector with rising investment in emerging markets. The use of coatings in the furniture industry will also enable growth prospects for the Coating resins market.
The volatile price of raw material is a major factor that hinders the coating resins 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 variation in demand for the products is inhibiting the growth of the market. The stringent government regulations are a significant factor that is restricting the potential growth of the Coating Resins.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Coating Resins market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Coating Resins market size
2.2 Latest regional market trends
2.3 Emerging growth trends - Competitive Outlook
3.1 Global Coating Resins market key players
3.2 Global Coating Resins size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Coating Resins market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Coating Resins Market Segmentation
By Resin Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Vinyl
- Unsaturated Polyester Resin
- Saturated Polyester Resin
- Others
By Technology Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Water-borne coatings
- Solvent-borne coatings
- Powder coatings
- Others
By Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Architectural
- Industrial
- Protective Marine
- Automotive OEM
- Vehicle Refinish
- Others
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