The global coating resins Market is projected worth US$ 51.3 billion by 2026 and the market is projected to show case 5.0% CAGR during the forecast period. The coating resins market is driven by an increase in demand for paint & coatings in the automotive sector.
The rapid expansion in the automotive industry is driving the demand for paints and coatings that are durable; prevent corrosion; and improve the fuel efficiency of the vehicles. Growing population and development in economic conditions are the major factors that have resulted in an increase in expenditure on infrastructure development globally. This is projected to expand the demand for decorative coatings in the upcoming years. Also, the strict regulations are being levied on VOC emissions from paints and coatings. The solvent-based coating is the most extensively used coatings. However, the high VOC content in the coatings has led to the replacement by water-based formulations with VOC content. Amino resins and alkyd are the major segments expected to grow significantly in the global coating resins market.
The development of water-based technology is attributed to the surge in the adoption of low VOC emission coatings globally. Also, consumer awareness about the environmental impact of coating products is growing. The water-based coating is anticipated to hold the major share in the global coating resins market. Also, the development in the construction, and automotive industries and widespread adoption of innovative coating technologies are expected to create growth opportunities for the key manufacturers in the global coating resins market.
The global coating resins market is segmented into type, technology, application, and region. On the basis of type, the global coating resins market is segmented into Acrylic, Epoxy, Alkyd, Vinyl, Polyurethane, Amino, Polyester, and others. On the basis of technology, the global coating resins market is segmented into Solvent-based, UV Cured, and High Solids. On the basis of application, the global coating resins market is segmented into Industrial Coatings, Automotive Coatings, Wood Coatings, Protective Coatings, Architectural Coatings, and Marine Coatings. On the basis of the region, the global coating resins market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on the application, the global coating resins market can majorly be segmented into six sub-segments, which are industrial coatings, automotive coatings, wood coatings, protective coatings, architectural coatings, and marine coatings. The architectural coatings sub-segment is expected to dominate the global coating resins market. The segment is projected to expand at a significant pace during the forecast period owing to the growth in construction and infrastructure development and rise in consumption of paints and coatings in order to improve the aesthetic appearance of structures. The automotive coatings segment is expected to grow at a rapid pace during the forecast period. Also, the industrial coatings and marine coatings sub-segments are anticipated to create profitable opportunities for the coating resins market.
The Asia Pacific region is expected to dominate the global coating resins market followed by North America and Europe region. Asia Pacific region is the key manufacturer of the paints and coatings products that are produced from coating resins. The coating resins market in the region is expected to increase at a rapid pace in the coming years owing to the substantial surge in consumption of paints and coatings in the region.
The major players associated with the coating resins market are Royal DSM N.V., Allenex Netherlands B.V., Lanxess, DIC Corporation, BASF SE, Arkema S.A, DosswDuPont, and Celanese Corporation, etc.The coating resins market experiences competition from other industries such as adhesives and packaging, as coating resins are employed in these industries as well.The global coating resins market is ruled by large players. Also, the presence of huge numbers of small and medium players are highly competitive in the global coating resins market.
Key manufacturers in the global coating resins market are focused on investing heavily in research and development activities in order to manufacture innovative coating resins for effective applications. Additionally, the key players in the global coating resins market are focusing mainly on merger and acquisition and developing strategic partnerships with other players in order to expand their business geographically as well as by capturing huge market share.
Market By Type
Market By Technology
Market By Application
Market By Geography
Introduction According to Acumen Research and Consulting, the global Pharmaceutical Packaging market is expected to grow at noteworthy CAGR around 7.9 % throughout the forecast period and reach around US$ 112 billion by 2026. Pharmaceutical packaging means pharmaceutical process packaging, where several of the raw materials, lik
Introduction According to Acumen Research and Consulting, the global Chitosan market is expected to grow at noteworthy CAGR around 20.2 % throughout the forecast period and reach around US$ 22 billion by 2026. Chitosan is the form of the deacetylated chitin, a main component in the marine animal exoskeleton. The shell wastes, su
Introduction: Shape memory polymer is a polymeric shrewd material that can come back from a distorted transitory state to its unique lasting state when instigated by an outer upgrade, for example, temperature, power, attractive field, light, synthetics, and so on. The polymer is first fabricated into a perpetual shape by regular methodologies, after which it is disfigured into the
Introduction: The global seismic reinforcement materials market size is expected to reach 42.01 billion by the end of year 2026. The market is estimated to grow at a CAGR of 4.3% over the forecast period 2019 to 2026. Seismic reinforcement materials are a type of materials that are used for providing reinforcing or strengthening
Introduction: The global cast polypropylene (CPP) films market is expected to reach 1.89 billion by 2026 and market is estimated to grow at a CAGR of 5.95% over the forecast period. Cast polypropylene, usually known as CPP, is created through the casting procedure. It is famous for its high straightforwardness, high effect quali
Introduction According to Acumen Research and Consulting, the global recycled metal market size is expected to reach around US$ 950 billion by 2026 and will grow at noteworthy CAGR around 3.8 % throughout the forecast period. Raw materials used in metal recycling are scrap metals gathered from multiple sources. Scrap metals are