Global Coating Resins Market: Key Highlights
Global Coating Resins Market: Key Market Dynamics
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Global Coating Resins Market: Regional Overview
The Asia-Pacific accounted for the largest market share in the global coating resin market. The growth of the region is mainly attributed to the high economic growth rate followed by heavy investment across industries, such as automotive, consumer goods & appliances, building & construction, and furniture. China is expected to account the largest market share by country and is also projected to grow at a high CAGR during the forecasted period, due to the growing construction sector, low labour cost, and easy availability of the raw material.
Europe is expected to hold the second-largest market share of the wood coating market. Germany has prominent shares in the Europe coating resin coating market followed by the UK and France. The growing renovation of houses and favourable government support for the construction industry has boosted the wood coating market in this region. Moreover, growing automotive, and defense sector has also boosting the coating resins market into the Europe region.
Global Coating Resins Market: Key Players Overview
Arkema SA engaged in the manufacturing of both industrial chemicals and performance products. Arkema SA is one of the world leaders in materials for the coatings industry. The company operates through four business segments namely, advanced material, coating solutions, adhesives, and intermediates. Through these business segments, Arkema SA offers market solutions such as 3D printing, adhesives & sealants, automotive & transportation, building & construction, coating, paints, inks, composite & advanced materials, electronics & electricals, oil & gas, cooling & refrigeration and many others. In February 2019, Arkema SA has opened new powder coating resins unit in Navi Mumbai, Maharashtra, India.
BASF SE is one of the leading chemical company across the globe. The company operates through six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. The Industrial Solutions segment consists of Dispersions & Pigments and Performance Chemicals divisions. In January 2020, BASF SE invested in the expansion of polyurethane dispersion business in Europe. The expansion will increase 30% production capacity for water-based polyurethane dispersions.
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