Coating Resins Market: Summary
The Global Coating Resins Market is projected to reach a value of over USD 52 billion by 2027 at a CAGR of around 4.5%.
Coating Resins are polymer or polymer latex materials that hold a coating formulation and provide adhesion to the substrate on which the coating is applied. It offers quick drying times, glosses retention, and superior weathering to coatings. Coating resins applied on the surface of the object to achieve hardness, corrosion resistance, weather resistance, and stain resistance. A liquid coating formulation consists of several other components such as pigments, additives, and solvents. Powder coating systems have a similar composition, except for the presence of solvents.
Coating Resins Market: Drivers & Challenges
- Increasing Demand from End-Use Industry
Coating resins offers various advantages to the coatings such as reduce drying time, gloss retention, corrosion resistance, weather resistance, stain resistance and many other advantages. Due to these advantages, it gets widely used in the number of end-use industry such as in Automotive industry coating resins are used for heavy or light-duty vehicles as well as passenger cars to achieve mechanical strength, adhesion to metals, and heat resistance. Moreover, a growing trend of manufacturing furniture that is appealing and resists humidity and pests. Therefore, the furniture industry is increasingly using coating resins for varnish wooden structure. Thus, the increase in demand for coating resins from the various end-use industries has expected to boost the global coating resin market during the assessment period.
- Fluctuating Cost of the Raw Materials
Several materials such as amino, polyester, cellulosic, silicone/polysiloxane, silicate and vinyl, and others can be used for the manufacturing of coating resins. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the assessment period. The price fluctuations are attributed to the mining and extraction of the raw materials, which are dependent on geological and geopolitical factors. These are petroleum-based products, which add up the cost on account of the supply-demand gap of crude oil. Thus, the fluctuating cost of the raw material is expected to hamper the coating resins market.
Coating Resins Market: Key Segments
- Segmentation based on Type: Acrylic, Epoxy, Polyurethane, Alkyd, Vinyl, Unsaturated Polyester Resins, Saturated Polyester Resins, and Others.
- Segmentation based on technology: Waterborne, High Solid, Powder Coating, and Radiation Cured
- Segmentation based on application: Architectural, Industrial, Protective & Marine, Automotive, Packaging, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Coating Resins Market: Report Scope
The report on the Coating Resins market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million) and Volume (Kiloton)
Type, Technology, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Arkema SA (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- BASF SE
- Allnex Netherlands B.V.
- The Sherwin©Williams Company
- Evonik Industries Ag
- Huntsman International LLC.
- Mitsubishi Chemical Corporation
- Toray Industries, Inc.
- Mitsui Chemicals, inc.
- Dic Corporation
- The Lubrizol Corporation
- Momentive performance materials inc.
- Celanese Corporation
- Olin Corporation
- Other Key Companies
Coating Resins Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Coating Resins Market, by Type
- Unsaturated polyester resins
- Saturated polyester resins
Coating Resins Market, by Technology
- High Solid
- Powder Coating
- Radiation Cured
Coating Resins Market, by Application
- Protective & marine
- Automotive OEM
- Vehicle furnishes
Coating Resins Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Coating Resins Market Providers
- Coating Resins Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Coating Resins Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE COATING RESINS MARKET STUDY