Pune, India, Jan. 12, 2021 (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™ in a new study, titled, “Coating Resins Market Size, Share & Covid-19 Impact Analysis, By Resins (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), By Formulating Technology (Water-based, Solvent-based, Powder, and Others), By End-use Industry (Architectural Coatings, General Industrial Coatings, Powder Coatings, Wood Coatings, Automotive OEM Coatings, Automotive Refinish Coatings, Protective Coatings, Packaging Coatings, and Others), and Regional Forecast, 2020-2027.” 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.
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.
List of Top Manufacturers Operating in the Global Renowned Coating Resins 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
Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/covid19-impact/coating-resins-market-104535
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.
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 increasing research and development activities worldwide. These are meant for the development of bio-based polymers. Several manufacturers are striving to provide environmentally-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 to 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, increasing infrastructure spending would aid growth.
Order a Complete Research Report:
https://www.fortunebusinessinsights.com/checkout-page/104535
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.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/coating-resins-market-104535
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
- Gerneral Industrial Coatings
- Powder Coatings
- Wood Coatings
- Automotive OEM Coatings
- Automotive Refinish Coatings
- Protective Coatings
- Packaging Coatings
- Others
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Resins (Volume/Value)
TOC Continued…!
Speak to Our Expert:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/coating-resins-market-104535
Have a Look at Related Research Insights:
Wood Coating Market Size, Share & Covid-19 Impact Analysis, By Resins (Polyurethane, Nitrocellulose, Acid-curing, Polyester, and Others), By Formulating Technology (Solvent-borne, Water-borne, UV-cured, and Others), By Application (Furniture, Cabinets, Siding, Flooring, and Others), and Regional Forecast, 2020-2027
Thermoplastic Elastomer Market Size, Share & COVID-19 Impact Analysis, By Type (Styrenic Block Copolymers, Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Copolyester Elastomers, and Others), By Application (Automotive, Building & Construction, Footwear, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2020-2027
Medical Coatings Market Size, Share & COVID-19 Impact Analysis, By Type (Hydrophilic Coatings, Antimicrobial Coatings, Antithrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-coating-resins-market-10391