COATING RESINS MARKET TO REACH USD 52 BILLION BY 2027 | CAGR 4.5% – FORENCIS RESEARCH

Coating Resins Market - Global Industry Analysis and Forecast 2020 to 2027

Global Coating Resins Market: Key Highlights

  • According to the new market research report Coating Resins Market by Type (Acrylic, Epoxy, Polyurethane, Alkyd, Vinyl), by Technology (Waterborne, High Solid, Powder Coating, Radiation Cured), by Application (Architectural, Industrial, Protective & Marine, Automotive, Packaging), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global coating resins market is estimated to reach USD 52 Billion by 2027 at a CAGR of around 4.5% during the review period.
  • Coating resins offers quick drying times, glosses retention, and superior weathering to coatings
  • 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
  • A liquid coating formulation consists of several other components such as pigments, additives, and solvents.

Coating Resins Market

Global Coating Resins Market: Key Market Dynamics

  • 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
  • Rise in demand for green and environment-friendly coating systems in architectural designs is expected to boost the market growth
  • Development of bio-based coating has expected to create the new market opportunities for the coating resin manufacturers
  • However, fluctuations in raw material prices remain a major restraining factor for the growth of the coating resins market

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Global Coating Resins Market: Regional Overview

  • Asia-Pacific

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

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:

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:

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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Rep Id : CM 0126

Published : 2020-08-04

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