Newark, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The coating Resins market was estimated at around 50.1 billion in 2021, growing at a CAGR of nearly 5.1% during 2022-2030. The market is projected to reach approximately USD 80.4 billion by 2030.
Coating resins are frequently employed to create hard, smooth, long-lasting, and aesthetically pleasing surfaces. Because coating resins like thermoset (saturated polyester, acrylic, polyurethane, and others) and thermoplastics are so long-lasting, environmentally friendly, have such low levels of volatile organic compounds, and have such excellent chemical resistance, they are frequently used for coating surfaces, floors, packaging, and other things. Additionally, due to their low emissions of dangerous air pollutants and volatile organic compounds, aqueous coatings are commonly used. It is widely utilised in ornamental coatings, floor coatings, coatings for automotive components, coatings for packaging, and other applications, all of which are anticipated to drive market growth over the course of the forecast period.
Request PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/13151
Growth Factors
A crucial component of the car-making process is auto OEM coatings, these coatings provide excellent quality and strength and have superior mechanical features that protect automobiles from dings, harsh weather, and substance permeability. Interior automobile coatings operate on a surface-level area of the car. The growth in consumers' discretionary financial flow in developing nations like China, for instance, has fueled demand for traveller automobiles. Because of their low labour costs, supportive informal regulations, and easy access to natural resources, emerging nations like China, India, Thailand, and Brazil are attracting auto manufacturers to build assembly lines. These manufacturers are gradually shifting toward OEM coatings with low cost and high performance. Additionally, the interest in coatings from OEMs is served by car restoration, which sparks interest in coating resins.
Segmental Overview
The most popular option for wall emulsion in architectural coating for home interiors is vinyl coating resin. Due to their affordable manufacturing costs, architectural coatings are available to the majority of consumers. Epoxy- and polyurethane-based coatings are now used in specialized applications, thus their consumption is rather low. Similar to polyester coatings, the use of which is rapidly declining is owing to the material's high solids content, which increases VOC emissions and endangers both the environment and those who live nearby.
APAC is the second-largest market for water-borne coating, behind Europe. Due to rising demand in the automotive and coil coating industries, water-based coating is in high demand in Europe. As water coating's performance increases, so does its applicability in end-use industries. Because of developments in resin chemistry and new additives created especially for waterborne formulations, water coating performance has improved. Direct-to-metal (DTM) coatings and applications needing specialised attributes, including high gloss, are examples of areas where formulators might improve performance thanks to recent breakthroughs in these materials.
If you have any questions, please feel free to contact our analyst at: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13151
Regional Overview
The biggest market share of the total market was held by the Asia-Pacific in the Coating Resins market.
Due to rising demand from numerous applications, including engine coating, marine, food packaging coatings, and others, in developing nations like India and China, the Asia Pacific region held a 35% share of the global coating resins market in 2020. Because of its numerous special qualities, including chemical resistance, weather resistance, and flexibility, coating resin is used more frequently. Potentially lucrative markets for coating resins include China and India. The demand for coating resins in these nations is anticipated to increase in the near future due to increases in household income, urbanisation, and FDI investments, particularly in the automobile industry.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Coating Resins Market CAGR | 5.1% |
| Segments Covered | By Product By Technology |
List of the prominent players in the Global Coating Resins market:
• Allnex Holdings S.à r.l.
• BASF SE
• LANXESS
• Royal DSM N.V.
• DowDuPont Inc
• DIC Corporation
• Bayer AG
• Celanese Corporation
• Arkema S.A.
• Solutia Inc.
• INEOS Group Holdings S.A.
• Huntsman International LLC.
• Evonik Industries AG
The global Coating Resins market is segmented as follows:
By Product Type
• Acrylic
• Polyurethane
• Alkyd
• Epoxy
• Polyester
• Others
By Technology
• Water-based Coatings
• Solvent-based Coatings
• Powder-based Coatings
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
Interested in Procuring This Report? Visit Here: https://www.thebrainyinsights.com/buy-now/13151/single
About the report:
The global Coating resins market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
