Pune, India, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The global coating resins market is set to gain impetus from the increasing development of greener processes by producers of final coating formulations, additives, pigments, and resins. This information is given by Fortune Business Insights™ The study further mentions that the coating resins market size was USD 33,707.6 million in 2019 and is projected to reach USD 47,412.8 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.
How Did We Create This Report?
As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities. We have also conducted a techno-economic study.
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A list of the renowned coating resins manufacturers operating in the global market:
- BASF SE (Ludwigshafen, Germany)
- ALLNEX NETHERLANDS B.V. (Bergen Op Zoom, The Netherlands)
- Covestro AG (Leverkusen, Germany)
- Wacker Chemie AG (Munich, Germany)
- Dow (Michigan, U.S.)
- Sherwin-Williams (Ohio, U.S.)
- Evonik (Essen, Germany)
- Mitsubishi Chemical Corporation (Tokyo, Japan)
- TORAY INDUSTRIES, INC. (Tokyo, Japan)
- Solvay (Brussels, Belgium)
- Eastman Chemical Company (Tennessee, U.S.)
- DIC CORPORATION (Tokyo, Japan)
- Hexion (Ohio, U.S.)
- Perstorp (Malmö, Sweden)
- DSM (Heerlen, Netherlands)
- Arkema (Colombes, France)
- Other Key Players
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 4.7% |
| 2027 Value Projection | USD 47,412.8 Million |
| Base Year | 2019 |
| Coating Resins Market Size in 2019 | USD 33,707.6 Million |
| Historical Data | 2016-2018 |
| No. of Pages | 80 |
| Segments Covered | By Resins, By Formulating Technology and Regional |
| Coating Resins Market Growth Drivers | Architectural Coatings Segment to Grow Rapidly Owing to High Demand for Durable Coatings |
| Key Players Focus on Acquisitions and New Product Launches to Gain a Competitive Edge |
COVID-19 Pandemic to Affect Growth Backed by Low Demand from Automotive Industry
The outbreak of the COVID-19 pandemic is causing disruptions in the entire production and supply chain in the coatings industry. At the same time, renowned companies are facing a shortage of skilled laborers as most of them have traveled back to their hometowns because of stringent lockdown norms. It has also reduced the demand for coating resins from the automotive, white goods, electronics, and manufacturing industries. Our research reports will help you better understand the current situation to invest in significant zones.
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Drivers & Restraints-
Increasing Need to Develop Environmental-compatible Processes to Boost Growth
Nowadays, the availability of limited petrochemical resources and the rising environmental issues are resulting in the increasing research and development activities worldwide. These are meant for the development of bio-based polymers. Several manufacturers are striving to provide environmental-compatible goods and processes for a wide range of industries. Commercial epoxy resins can be easily epoxidized and they are cost-effective. These factors are expected to bolster the coating resins market growth in the coming years. However, the usage of alkyds in various coatings can be harmful for humans and the environment. It may hamper growth.
Segment-
Architectural Coatings Segment to Grow Rapidly Owing to High Demand for Durable Coatings
Based on the end-use industry, the architectural coatings segment is set to earn the largest coating resins market share throughout the forthcoming years. This growth is attributable to the surging demand for durable and high-performance coating resins for developing construction components. Besides, the increasing infrastructure spending would aid growth.
Regional Insights-
Asia Pacific to Dominate Stoked by Increasing Construction Activities
Geographically, Asia Pacific earned USD 14,158.9 million in terms of the coating resins market share in 2019. The region is anticipated to retain its dominant position in the coming years because of the rising production of automotive and increasing construction activities in the region. Besides, the high consumer spending and general industrial production would propel growth.
Europe, on the other hand, is likely to show considerable growth fueled by rising infrastructural investments and ongoing developments in the oil and gas sector. In North America, the increasing industrial manufacturing activities will lead to moderate demand for coating resins.
Competitive Landscape-
Key Players Focus on Acquisitions and New Product Launches to Gain a Competitive Edge
The market for coating resins contains several companies that are mainly aiming to elevate their positions by acquiring other local manufacturers. Some of the others are planning to develop state-of-the-art coating resins to attract more consumers. Below are the two latest industry developments:
- July 2020: Engineered Polymer Solutions (EPS) unveiled the EPS® 2400 series in North America. It contains six waterborne acrylic resins best suited for wood coating formulators. It can be used for developing high-performance solutions for flooring, furniture, cabinetry, and other industrial applications.
- May 2020: DIC Corporation acquired Ideal Chemi Plast Pvt. Ltd., a mid-tier Indian resins manufacturer. This new acquisition would help the company to strengthen its position in the Indian market and develop high-end resins.
The Study Objectives of this report are:
- To analyze the worldwide coating resins market size by product types, applications, and regions.
- To comprehend the design of coating resins market by recognizing its different sub-fragments.
- To study coating resins market by individual manufacturers' growth, and future trends.
- To study Product Overview and Scope of coating resins market segment, Revenue Sales Status, and Outlook
- To understand market Upstream and Downstream analysis
- To understand the Market Competitive Situation and Trends
- To understand market Drivers, Restraints, Opportunities, and Challenges faced by coating resins market
Browse Detailed Summary of Research Report with TOC:
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Resins Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Coating Resins Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Coating Resins Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Resins (Volume/Value)
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
- By Formulating Technology (Volume/Value)
- Water-based
- Solvent-based
- Powder
- Others
- By End-use Industry (Volume/Value)
- Architectural Coatings
- General Industrial Coatings
- Powder Coatings
- Wood Coatings
- Automotive OEM Coatings
- Automotive Refinish Coatings
- Protective Coatings
- Packaging Coatings
- Others
- By Resins (Volume/Value)
TOC Continued…!
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