Request Discount

Coatings Resins Market (Resin Type - Acrylic, Alkyd, Epoxy, Polyurethane, Vinyl, and Others; Technology - Waterborne Coatings, Solvent-borne Coatings, Powder Coatings, and Others; Application - Architectural, Industrial, Automotive, Packaging, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : June, 2022

  • Rep Id : CM00791

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the coatings resins market provides an in-depth analysis of segments and sub-segments in the global as well as regional coatings resins market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional coatings resins market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global coatings resins market. According to the report, the global coatings resins market is projected to grow at a CAGR of 5.5% over the forecast period of 2022-2028.

 

Market Insight

The global was valued at around USD 41 billion in 2022 and is expected to reach USD 60 billion in 2028, with a CAGR of 5.5% during the forecast period. Resins have several enhanced characteristics of dry films, such as hardness, adhesion, chemical and solvent resistance, and durability, which make them suitable materials for coatings. The physical and chemical properties of the coatings are primarily dependent on the nature of the resins used in them. In general, resins used for coating are produced by combining monomers derived from refined sources of hydrocarbons such as coal, crude petroleum, and natural gas. Furthermore, coatings resins have found their application in several industries including paper, construction, glove dipping, carpets, nonwovens, textiles, and others. The development of innovative materials and advancements in the production processes has further driven the coatings resins market.

 

Coatings Resins Market


The increasing demand for paints and coatings from various end-use industries is majorly driving the market growth. The paints and coatings made of resins have several advantages over oil-based paints and coatings including convenient usage, quick-drying, low or near zero VOCs, and ease of clean-up and re-coat. These advantages of coatings resins are anticipated to boost their adoption in various industries. Moreover, the growing construction and automotive sectors are supporting the growth of the coatings resins market. Construction and automotive industries widely use coatings resins for various applications including paints, coatings, carpets, and nonwoven textiles. Thus, the growing construction and automotive industries augment the growth of the coatings resins market as they are the leading end-use industries. However, as coatings resins are produced by combining monomers derived from refined sources of hydrocarbons such as crude petroleum, and natural gas, the fluctuating prices of crude oil are expected to hamper the market growth for coatings resins. Nevertheless, the growing demand for industrial equipment from the developing regions is anticipated to boost the market growth in the future. The majority of industrial equipment use coating resin to protect its components from corrosion and wear. Thus, the growing production and sale of industrial equipment in developing economies are anticipated to augment the market growth in the future.

 

The outbreak of COVID-19 brought a negative impact on the coatings resins market share because of the imposition of lockdown. The spread of COVID-19 has severely affected the coatings resins market across the globe. COVID-19 pandemic affected the global coatings resins market by hindering production and demand, disrupting the supply chain, and by its impact on firms and the financial markets. The demand for coating resin has decreased from the end-users. The COVID19 pandemic has severely affected the revenue of end-user industries. Several end-users have stopped their production or closed their production unit. The shortage of raw materials is another major challenge faced by the industry during the pandemic.

 

Based on the region, the worldwide coatings resins market is segmented into the Asia Pacific, North America, Europe, and the Middle East & Africa. Among the regions, North America holds the biggest share of the global coatings resins market. The North American region accounted for the second-largest revenue in the global coatings resins market. The growing construction industry in North America is anticipated to boost the demand for coatings resins for paint, coating, construction, carpets, and nonwoven applications. Additionally, the increasing production and export of electronic goods in North America are further augmenting the growth of the market. The global coatings resins market is dominated by the Asia Pacific region. Moreover, the higher sale of automobiles and industrial goods in the region augments the demand for coatings resins in the Asia Pacific.

 

Segment Covered

The report on the global coatings resins market covers segments such as resin type, technology, and application. On the basis of resin type, the sub-markets include acrylic, alkyd, epoxy, polyurethane, vinyl, and others. On the basis of technology, the sub-markets include waterborne coatings, solvent-borne coatings, powder coatings, and others. On the basis of application, the sub-markets include architectural, industrial, automotive, packaging, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as BASF SE, Arkema SA, Covestro AG, Bayer AG, Dow Chemical Company, Evonik Industries AG, Koninklijke DSM N.V, Sherwin-Williams Co, PCCR USA Inc., and Polynt-Reichhold Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the coatings resins market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount