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The global coating resins was valued at USD 40.42 billion in 2020 and is expected to reach USD 54.7 billion by 2026, growing at a CAGR of 5.17% during the forecast period.
COATING RESINS MARKET OVERVIEW
The demand for coating resins is increasing at a rapid rate across all regions. The rise in living standards, growing disposable income, rapid urbanization, and government initiatives are significant factors driving the market for coating resins. The substantial investment by the government to create accessible accommodation for the growing population pool of urban dwellers is contributing to the rapid growth of the construction industry, which will positively impact the global industry. The significant change happening in the coating industry is the continuous adoption of coating technologies to offer better products every time. These new coating technologies include water-borne coatings, powder-borne coatings, high solids coating, two-component systems, and radiation-curable coatings. The water-borne coating is the most preferred formulation in the coatings resin market. Coating resins are also gaining high traction across the marine industry.
The following factors are likely to contribute to the growth of the medical glove market during the forecast period:
- High Growth Potential in Emerging Economies
- Increasing Use of Powder Coating in Automotive Industry
- Rising Demand from Construction Industry
- Soaring Demand from Automotive Industry
SNIPPETS
- APAC dominated the coating resins market in 2020 and is expected to grow in the coming years.
- The coating resins market in Europe is growing in line with the global market.
- The wood coating resin products market is growing due to growing urbanization in emerging economies across the Asia Pacific, Latin America, and European regions.
COATING RESINS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Formulation
- Coating Type
- End-Use
- Geography
COATING RESINS MARKET SEGMENTS
- Water-borne coatings are widely adopted due to low or no VOC emissions. Water-borne coatings account for the largest share in the coating resin market.
- The major trends accelerating the industry for coating resins are the continuous development and demand for higher performance to extend material life and reduce maintenance costs. Coating resins give the vehicle an aesthetic and glossy look and prevent it from dent, UV, scratch, and corrosion.
- Increasing disposable income, rising living standards, and growing population are the prime reasons for the rising demand for motor vehicles globally, which will fuel the growth of the coating resins industry.
Market Segmentation by Formulation
- Water-Borne
- Solvent-Borne
- UV-Cured
- Powder-Borne
Market Segmentation by Coating Type
- Acrylic
- Epoxy
- Alkyd
- Urethane
- Others
Market Segmentation by End-Use
- Architectural Coating
- Industrial Coating
- Marine Coating
- Automotive Coating
- Wood Coating
- Coil Coating
- Packaging Coating
- Others
GEOGRAPHIC ANALYSIS
In North America, the US is the biggest market for coating resins, followed by Canada. In North America, with the several projects under pipeline for residential & non-residential, the demand for greenhouse and government investment for the construction of non-residential projects is likely to boost the demand for coating resins industry in the future years. North America is expected to witness significant growth in the coating resins industry. The growing construction industry is driving the demand for acrylic resin, particularly in Asia-Pacific, North America, and Europe.
Market Segmentation by Geography
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Spain
- APAC
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
VENDOR LANDSCAPE
The coating resins market is highly competitive and is characterized by the presence of various key players. Companies are concentrating on delivering environment-friendly coating with low or no VOC content to intensify the competition. Mergers and acquisitions benefit the companies in purchasing raw materials, distribution, and R&D, driven mainly by amalgamation. To survive in the intensive competitive environment, the manufacturers need to introduce new or improved coating additives products and adapt to the constantly changing trend.
Key Vendors
- BASF SE
- The Lubrizol Corporation
- Evonik Industries
- Clariant
Other Prominent Vendors
- Arkema SA
- Eastman Chemical Company
- Angus Chemical Company
- Lonza
- Cabot Corporation
- Solvay
- Huntsman International LLC
- Univar Solutions Inc
- Daikin Industries Ltd
- Hexion
- Kukdo Chemical, Co. Ltd
- DIC Corporation
- Toray Industries, Inc
- Mitsui Chemicals, Inc
- Wacker Chemie AG
- Helios Resins
KEY QUESTIONS ANSWERED:
1. How big is the coating resins market?
2. Who are the end-users in the coatings resins industry?
3. Who are the key players in the coatings resins industry?
4. What are the key driving factors in the global coating resins market?
5. Which segment has the highest market share for coating resins?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Introduction
8 Growth Opportunity By Segment
9 Market Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Formulation
14 Coating Resin Type
15 End Use
16 Geography
17 North America
18 APAC
19 Europe
20 Latin America
21 Middle East & Africa
22 Competitive Landscape
23 Key Company Profiles
24 OTHER PROMINENT VENDORS
25 Report Summary
26 Quantitative Summary
27 GEOGRAPHY
28 Appendix
List of Exhibitis
List of Tables
Companies Mentioned
- BASF SE
- The Lubrizol Corporation
- Evonik Industries
- Clariant
- Arkema SA
- Eastman Chemical Company
- Angus Chemical Company
- Lonza
- Cabot Corporation
- Solvay
- Huntsman International LLC
- Univar Solutions Inc
- Daikin Industries Ltd
- Hexion
- Kukdo Chemical, Co. Ltd
- DIC Corporation
- Toray Industries, Inc
- Mitsui Chemicals, Inc
- Wacker Chemie AG
- Helios Resins
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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