Dublin, Dec. 09, 2021 (GLOBE NEWSWIRE) -- The "Coatings Resins Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global coating resins was valued at USD 40.42 billion in 2020 and is expected to reach USD 54.7 billion by 2026, growing at a CAGR of 5.17% during the forecast period.
The demand for coating resins is increasing at a rapid rate across all regions. The rise in living standards, growing disposable income, rapid urbanization, and government initiatives are significant factors driving the market for coating resins. The substantial investment by the government to create accessible accommodation for the growing population pool of urban dwellers is contributing to the rapid growth of the construction industry, which will positively impact the global industry.
The significant change happening in the coating industry is the continuous adoption of coating technologies to offer better products every time. These new coating technologies include water-borne coatings, powder-borne coatings, high solids coating, two-component systems, and radiation-curable coatings. The water-borne coating is the most preferred formulation in the coatings resin market. Coating resins are also gaining high traction across the marine industry.
COATING RESINS MARKET SEGMENTS
Water-borne coatings are widely adopted due to low or no VOC emissions. Water-borne coatings account for the largest share in the coating resin market.
The major trends accelerating the industry for coating resins are the continuous development and demand for higher performance to extend material life and reduce maintenance costs. Coating resins give the vehicle an aesthetic and glossy look and prevent it from dent, UV, scratch, and corrosion.
Increasing disposable income, rising living standards, and growing population are the prime reasons for the rising demand for motor vehicles globally, which will fuel the growth of the coating resins industry.
GEOGRAPHIC ANALYSIS
In North America, the US is the biggest market for coating resins, followed by Canada. In North America, with the several projects under pipeline for residential & non-residential, the demand for greenhouse and government investment for the construction of non-residential projects is likely to boost the demand for coating resins industry in the future years.
North America is expected to witness significant growth in the coating resins industry. The growing construction industry is driving the demand for acrylic resin, particularly in Asia-Pacific, North America, and Europe.
VENDOR LANDSCAPE
The coating resins market is highly competitive and is characterized by the presence of various key players. Companies are concentrating on delivering environment-friendly coating with low or no VOC content to intensify the competition.
Mergers and acquisitions benefit the companies in purchasing raw materials, distribution, and R&D, driven mainly by amalgamation. To survive in the intensive competitive environment, the manufacturers need to introduce new or improved coating additives products and adapt to the constantly changing trend.
SNIPPETS
- APAC dominated the coating resins market in 2020 and is expected to grow in the coming years.
- The coating resins market in Europe is growing in line with the global market.
- The wood coating resin products market is growing due to growing urbanization in emerging economies across the Asia Pacific, Latin America, and European regions.
Key Vendors
- BASF SE
- The Lubrizol Corporation
- Evonik Industries
- Clariant
Other Prominent Vendors
- Arkema SA
- Eastman Chemical Company
- Angus Chemical Company
- Lonza
- Cabot Corporation
- Solvay
- Huntsman International LLC
- Univar Solutions Inc
- Daikin Industries Ltd
- Hexion
- Kukdo Chemical, Co. Ltd
- DIC Corporation
- Toray Industries, Inc
- Mitsui Chemicals, Inc
- Wacker Chemie AG
- Helios Resins
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Impact Of Covid-19
7.3 Industry FAQ
8 Growth Opportunity By Segment
8.1 Formulation Type
8.2 Coating Resin Type
8.3 End Use
9 Market Trends
9.1 High Growth Potential In Emerging Economies
9.2 Increasing Use Of Powder Coatings In Automotive Industry
10 Market Growth Enablers
10.1 Increasing Demand From Construction Industry
10.2 Increasing Use Of Bio-Based Epoxy Resins
10.3 Soaring Demand From Automotive Industry
11 Market Restraints
11.1 High Raw Material Costs
11.2 Increasing Environmental Regulation
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13 Formulation
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Solvent-Borne
13.4 Water-Borne
13.5 UV-Cured Coating
13.6 Powder-Borne
14 Coating Resin Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Acrylic Coating Resin
14.4 Epoxy Coating Resin
14.5 Alkyd Coating Resin
14.6 Urethane Coating Resin
14.7 Other Coating Resins
15 End Use
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Architectural Coating
15.4 Industrial Coating
15.5 Marine & Protective
15.6 Automotive Coating
15.7 Wood Coating
15.8 Coil Coating
15.9 Packaging Coating
15.10 Others
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/c4qtue
