USD 50.99 billion
Coating Resins Market Size, Share, Growth Analysis, By Resins(Acrylic, Alkyd, Polyurethane, Epoxy), By Formulating Technology(Water-based, Solvent-based, Powder, Others), By End-Use Industry(Architectural Coatings, General Industrial Coatings, Powder Coatings, Wood Coatings), By Region - Industry Forecast 2024-2031
Report ID:
SQSG15B2003 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
100
|Figures:
76
Coating Resins Market Insights
Global Coating Resins Market size was valued at USD 50.99 billion in 2019 and is poised to grow from USD 53.9 billion in 2023 to USD 88.76 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
Polymer compounds known as coating resins serve as the main building blocks in the production of coatings. These cutting-edge materials are only utilized for corrosion, toughness, weather, and stain resistance and act as protective layers.
The coating resins market is expanding rapidly as a result of evolving technology and growing end-use industries. Additionally, the market is expected to be driven by environmental restrictions and the economic expansion of developing nations. The market is expected to be majorly driven over the forecast period by the expanding automobile production. Growth would also be aided by factors such as the rapid economic development of developing nations, growing infrastructure spending, tight environmental regulations, rising purchasing power, and expanding demand for eco-friendly coatings.
US Coating Resins Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Water-based
Fastest Growth
Water-based
Growth Rate
5.7% CAGR
Global Coating Resins Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Coating Resins Market Segmental Analysis
The Global Coating Resins Market is segmented based on the Resins, Formulating Technology, End-Use Industry, and Region. Based on the Resins, the Global Coating Resins Market is segmented as Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others. Based on the Formulating Technology, the Global Coating Resins Market is segmented as Water-based, Solvent-based, Powder, and Others. Based on the End-Use Industry, the Global Coating Resins Market is segmented as Architectural Coatings, General Industrial Coatings, Powder Coatings, Wood Coatings, Automotive OEM Coatings, Automotive Refinish Coatings, Protective Coatings, Packaging Coatings, and Others. Based on Region Coating Resins Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Coating Resins Market Analysis by Resins
Due to the expanding usage of ceramic in the biomedical sector, the acrylic category maintained a commanding market dominance. All of the coating's components are held together by resins or binders. The polymers that makeup coating resins are selected based on the physical and chemical characteristics that the final product should have. Alkyds are regarded as a "general purpose" coating because of their adaptability and comparatively inexpensive cost. They are widely utilized in several solvent-based coating processes. Epoxies offer great chemical resistance, abrasion resistance, and excellent water resistance. However, they may lose their shine if exposed to UV radiation. High gloss, flexibility, stain resistance to chemicals, and great water resistance are all characteristics of polyurethanes.
Global Coating Resins Market Share By Type, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Coating Resins Market Regional Insights
In 2021, the Asia Pacific region led the coating resins market, and it is anticipated that it would continue to do so over the projected period. Government subsidies, car manufacturing, building projects, interest rates, and consumer spending—all significant contributors to GDP—have a significant impact on the region's demand.
It is anticipated that North America's industrial sector would revive gradually. Due to the expansion of the industrial industry, the area is in great demand. The coating resins market in this area is expected to develop as a result of growing automobile sales, accident rates, and building activity.
Global Coating Resins Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Coating Resins Market Dynamics
Coating Resins Market Driver
Increasing Use of Liquid and Bio-based Epoxy Resin
- Epoxy resins are also extensively utilized in powder coatings. Nowadays, the creation of formulations with high and ultra-high solid contents utilizing liquid epoxy resin is becoming more and more common. Waterborne epoxy resin technology's performance has improved, permitting more utilization. Due to the heavy reliance on metal coatings, only a small portion of technology was really attained. Recent years have seen a sharp increase in research and development efforts to create bio-based polymers as a result of rising environmental, economic, and resource-related concerns as well as the uncertainty that comes with a finite supply of petrochemicals. Manufacturers are attempting to replace petroleum-based materials with polymers made from naturally occurring feedstocks in order to meet the industry's need for environmentally friendly processes and products that support sustainable growth.
Coating Resins Market Restraint
Increasing Number of Stringent Regulations on VOC
- Globally, almost every type of end-use coating uses alkyds in some capacity. However, as VOC restrictions continue to decrease, the usage of alkyd resins is rapidly declining, especially in North America and Europe. For formulations that are water-based and include larger solids, the market has shifted to different resin types. The market is seeing the introduction of innovative water-based alkyd systems, in part because of the growing demand for resins made with a larger percentage of renewable resources. The earliest alkyds made were solvent-based, but the excessive amounts of solvents in these coatings proved to be bad for both the environment and human health. The coatings industry is under a lot of pressure to lower the VOC content of solvent-based coatings as a result of tougher VOC restrictions. Due to their high VOC content, solvent-based alkyd coatings have seen a decline in market share in favor of rival technologies including water-borne, powder, and UV-curable coatings. In order to meet the strict VOC requirements and maintain outstanding efficiency for these coatings to regain market share, it is crucial to reduce their VOC levels.
Request Free Customization of this report to help us to meet your business objectives.
Coating Resins Market Competitive Landscape
The Global Coating Resins market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase coating resins market share and profitability.
Coating Resins Market Top Player's Company Profiles
- Covestro AG
- Akzo Nobel N.V.
- Allnex Belgium SA/NV
- Arkema S.A.
- BASF SE
- DIC Corporation
- Dow Inc.
- Eastman Chemical Company
- Evonik Industries AG
- Huntsman Corporation
- Kansai Paint Co., Ltd.
- Momentive Performance Materials Inc.
- Nippon Paint Holdings Co., Ltd.
- PPG Industries, Inc.
- Royal DSM N.V.
- Solvay
- Sherwin-Williams
- Wacker Chemie AG
- Yung Chi Paint & Varnish Mfg. Co., Ltd.
- KCC Corporation
Coating Resins Market Recent Developments
- In February 2021, ENCOR 2793 functionalized pure acrylic binder, a novel formulation intended for multiple substrate primers and rehabilitation paints, was released by Arkema. It is prepared without formaldehyde releasers and alkylphenol ethoxylates. On a variety of surfaces, including wood, concrete, ceramic, plastic, and others, ENCOR 2793 pure acrylic has a great adhesion profile. It is simple to put together. This enables a wide range of applications, including two-coat rehabilitation paints, wall paints, wood lacquers, stain and tannin blocking primers, and multi-substrate primers.
- In April 2021, Azelis announced its new, immediately effective distribution deal with BASF for the dispersions, additives, and resins line in Australia and New Zealand. (ANZ). The goods covered by the agreement are frequently employed in construction, coatings, adhesives, sealants, and elastomers (CASE) applications.
Coating Resins Key Market Trends
- Within the coatings industry, sustainability keeps expanding. The development of greener techniques that use less energy, produce less waste and emit less pollution has become a greater emphasis for manufacturers of resin, pigments, additives, and final coating formulations. The most effective organizations created formal programs to raise awareness, encourage creativity, and support the continual growth and improvement of sustainable operations.
Coating Resins Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Coating Resins Market Analysis, Market expansion is anticipated to be aided by ongoing activities such as new product introductions, collaborations, agreements, expansions, mergers, and acquisitions. The main methods employed by businesses operating in this industry are expansion and the introduction of new products. The fastest-growing market for coating resins worldwide is APAC. The market is expected to increase as a result of rising residential building activity and rising demand from various sectors for coating resins. The region's market is expected to be driven by a sizable and growing population base, a quick increase in building activity, and a rise in the manufacturing of cars and wooden furniture.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 50.99 billion |
| Market size value in 2031 | USD 88.76 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Coating Resins Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Coating Resins Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Coating Resins Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coating Resins Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coating Resins Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coating Resins Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
