Westford, USA, July 26, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Coating Resins market, increasing demand for eco-friendly and sustainable coating resins, driven by environmental regulations and consumer preferences, growing adoption of water-based coating resins due to their low VOC emissions and improved safety profiles, rising interest in high-performance and specialty coating resins for niche applications and advanced functionalities, the emergence of bio-based and renewable raw materials for coating resins, reducing the dependency on fossil-fuel-derived feedstocks, the shift towards digitalization and smart coatings, leading to the development of intelligent and functional coating resins, integration of nanotechnology in coating resins to enhance properties such as scratch resistance and UV protection, are the trends that aid in the market's growth.
Browse in-depth TOC on "Coating Resins Market"
- Pages - 157
- Tables - 100
- Figures – 76
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Coating resins are polymer compounds that are used in the manufacturing of coatings as primary components. They are used to provide adhesion, durability, and protection to the coated surface. Coating resins are made from a variety of materials, including acrylics, alkyds, epoxies, polyesters, and polyurethanes.
Prominent Players in Coating Resins Market
- Allnex Holdings
- BASF
- LANXESS
- Royal DSM
- DowDuPont
- DIC Corporation
- Bayer AG
- Celanese Corporation
- Arkema S.A.
- Solutia Inc.
- INEOS Group Holdings
- Huntsman International
- Evonik Industries
- Momentive Performance Materials
- Sumitomo Chemical
- Nippon Shokubai
- Wacker Chemie AG
- Rhodia
- Asahi Kasei
- Solvay
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Acrylic Resins Demand to Grow Substantially in the Forecast Period
Acrylic resins dominate the global online market as it is widely used in various coating applications due to their excellent weather ability, UV resistance, and durability. They offer good adhesion to different substrates, making them suitable for architectural coatings, automotive coatings, and wood coatings.
Architectural Coatings is the Leading Application Segment
In terms of application, architectural coatings are the leading segment due to the urbanization and infrastructure development continuing worldwide; there is a substantial need for paints and coatings for residential, commercial, and public buildings.
Asia-Pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia-Pacific is one of the largest growing markets with huge industrialization and urbanization, driving the demand for coating resins in various sectors, including automotive, construction, and general industries. The construction industry in the region is booming, with numerous infrastructure projects and real estate developments, creating substantial demand for architectural coatings.
A recent report thoroughly analyzes the major players operating within the Coating Resins market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Coating Resins.
Key Developments in Coating Resins Market
- In January 2023, Allnex Holdings acquired Hexion, a leading manufacturer of coating resins. This acquisition will help Allnex to become a leading player in the global coating resins market.
- In February 2023, LANXESS acquired Cytec Industries, a leading manufacturer of speciality chemicals. This acquisition will help LANXESS to expand its portfolio of coating resins and meet the growing demand for high-performance coatings.
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Key Questions Answered in Coating Resins Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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