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.
Market Driver:
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.
Market Restraint:
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.
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.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) and Volume (Kiloton) |
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Segments Included |
Type, Technology, Application, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Coating Resins Market, by Type
Coating Resins Market, by Technology
Coating Resins Market, by Application
Coating Resins Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE COATING RESINS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
