Global Coating Resins Market Size:
The Global Coating Resins Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over next seven years 2019-2025 due to growing demand from end user industries
The Global Coating Resins Market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors responsible for the market growth include development of bio-based coatings, high growth in emerging economies, durable coatings with better performance and aesthetics and demand for coating resins from the automotive industry. Moreover, growth of the construction and manufacturing projects offer lucrative opportunities for the players operating in the market. However, factors such as volatility in raw material prices and growing price-cutting measures are hindering the market growth.
Global Coating Resins market segmented on the basis of type, formulation, application and region.
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Powder Based Formulations Dominate the Global Coating Resins Market
Based on the formulation, global Coating Resins market segmented into Hot Melt Based, Powder Based, Radiation Cured, Solvent Based, Water Based and Others. The powder coating technology is projected to register highest CAGR among the technology segments in the global coating resins market. This technology is mainly used in automotive, appliance finishing, outdoor furniture manufacturing, and architectural & building industries. The major factors driving this growth is the growth of the powder coatings market due to increasing stringent environmental regulations for zero or non-VOC coatings.
Asia Pacific Leads the Global Coating Resins market
PBI’s global Coating Resins market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global Coating Resins market with considerable CAGR. The factors that are responsible for the market growth include rapid and growing construction activity, huge and growing addressable population base and increase in the number of automobiles, and wooden furniture. Compared to mature markets, the market in APAC is projected to grow at a high rate.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global Coating Resins market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, Arkema S.A. is a multinational company in the coating resins business. It has a strong global position and is expected to maintain its market share in the near future because of its organic and inorganic strategies. The company is planning to launch new products to maintain its leadership in the coating resins business.
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Precision Business Insights (PBI) in its report titled “Global Coating Resins Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Amino Resins
Saturated Polyester Resins
Unsaturated Polyester Resin
• Alkyd Resins
• Vinyl Ester
• Acrylonitrile Butadiene Styrene (ABS)
• Alkyd Resins
• Cellulose acetate butyrate(CAB)
• Cellulose acetate propionate (CAP)
• Polyvinyl chloride
o Amino Resins
o Hot Melt Based
o Powder Based
o Radiation Cured
o Solvent Based
o Water Based
o Paper and Pulp
o Industrial Wood
o Industrial Plastics
o High End Flooring
o Graphic Arts
o Food Packaging
o Decorative Paints
o Consumer Electronics
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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Major Key Players Dominating the Market:
Key player’s profiles in the report are Aekyung Chemical Co. Ltd (South Korea), Allnex Group (Germany), Arkema SA (France), BASF SE (Germany), DIC Corporation (Japan), DowDuPont (US), Ferro Coating Resins (South Africa), Neville Chemical Company (US), Nippon Shokubai Co. Ltd (Japan), Royal DSM NV (Netherlands), Tosoh Corporation (Japan), Wacker Chemie AG (Germany) and Westlake Chemical Corporation (US).
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