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 roadways 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 fluctuation 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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Key participants 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.
Market Dynamics:
The materials and chemicals market revenue has expanded significantly over the years and is expected to register robust revenue growth over the forecast period. Technological advancements, rising investments in research and development activities, increasing demand for raw materials in various sectors such as manufacturing, agriculture, food and beverage, pharmaceutical and biotechnology is boosting market growth. In addition, changes in consumer preference, rising disposable income especially in the developing economics, rising funds by several public and private organizations, and increasing demand for biodegradable products are factors boosting market growth.
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 used mainly 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.
- Effective from March 1, 2024, Arkema announced Brenntag Canada as a primary distributor of Arkema water-borne resins in the region. The products will be sold under ENCOR, CELOCOE, SNAP, and NEOCAR names. The resins will help in applications of various manufacturing, industrial and architectural industries.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/coating-resins-market
For the purpose of this report, Reports and Data have segmented into the global Coating Resins market on the basis of Resin Type, Technology, Application, and region:
Resin Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Vinyl
- Unsaturated Polyester Resin
- Saturated 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
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Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Middle East & Africa
- Latin America
- Brazil
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