Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The "Coating Resins Market by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy), Technology (Waterborne, Solventborne), Application (Architectural, General Industrial, Automotive, Wood, Packaging) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The coating resins market is projected to grow from USD 53.9 Billion in 2022 to USD 70.9 Billion by 2027, at a CAGR of 5.7% between 2022 and 2027. The restraints related to the use of coating resins market is reduced export demand from European economies.
General Industrial segment is estimated to be the fastest growing segment of the coating resins market between 2022 and 2027.
The powder-coated products used in daily life include lighting fixtures, antennas, and electrical components. General industrial coatings are used to coat bleachers, soccer goals, basketball backstops, lockers, and cafeteria tables in schools and offices. Farmers use powder-coated agricultural equipment and garden tools. Sports enthusiasts use powder-coated bicycles, camping equipment, golf clubs, golf carts, ski poles, exercise equipment, and other sports equipment.
Office workers use powder-coated file drawers, computer cabinets, metal shelving, and display racks. Homeowners use electronic components, gutters and downspouts, bathroom scales, mailboxes, satellite dishes, toolboxes, and fire extinguishers that benefit from the powder-coated finish.
Asia Pacific is forecasted to be the fastest-growing coating resins market during the forecast period.
Asia Pacific is the largest coating resins market, in terms of both value and volume, and is projected to be the fastest-growing coating resins market during the forecast period. The region has witnessed economic growth over the last decade.
According to the IMF and World Economic Outlook, China and Japan were the world's second-and third-largest economies, respectively, in 2021. The United Nations Population Fund states that Asia Pacific accounts for 60% of the world's population, which is 4.3 billion people. The region includes the world's most populous countries, China and India. This is projected to become an increasingly important driver for the global construction industry over the next two decades.
Asia Pacific encompasses a diverse range of economies with different levels of economic development. The growth of the region is mainly attributed to the high economic growth rate coupled with heavy investments across industries, such as automotive, consumer goods & appliances, building & construction, and furniture. The key players in the coating resins market are expanding their production capacities in Asia Pacific, especially in China and India. The advantages of shifting production to Asia Pacific are the low cost of production, availability of skilled and cost-effective labor, and the ability to serve the local emerging markets in a better manner.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Coating Resins Market
4.2 Coating Resins Market, by Resin Type
4.3 Coating Resins Market, by Application
4.4 Asia-Pacific Coating Resins Market, by Application and Country
4.5 Coating Resins Market, by Major Countries
4.6 Coating Resins Market, Developed vs. Developing Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Demand from Construction and Automotive Industries
5.2.1.2 Eco-Friendly Coating Systems
5.2.1.3 Availability of Durable Coatings with Better Performance and Aesthetics
5.2.1.4 Lower Price and Higher Efficiency
5.2.1.5 Technological Advancements in Powder Coating Technology
5.2.2 Restraints
5.2.2.1 Volatile Raw Material Prices and Fluctuations in Demand due to Competition from Other Industries Using Resins
5.2.2.2 Reduced Export Demand from European Economies
5.2.3 Opportunities
5.2.3.1 Growth Potential in Less Regulated Regions
5.2.3.2 Investments in Emerging Markets
5.2.3.3 Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Industries
5.2.3.4 Increase in Use of Powder Coatings in the Automotive Industry
5.2.4 Challenges
5.2.4.1 Pressure of Cutting Prices
5.2.4.2 Stringent Regulatory Policies
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Degree of Competition
5.4 Macroindicator Analysis
5.5 Value Chain Analysis
5.5.1 Value Chain Analysis (Coating Resins): Cost Points in Different Segments
5.6 Average Selling Price Analysis
5.7 Key Stakeholders & Buying Criteria
5.7.1 Key Stakeholders in Buying Process
5.7.2 Buying Criteria
5.8 Ecosystem/Market Map
5.9 Revenue Shift and New Revenue Pockets for Coating Resin Manufacturers
5.10 Export-Import Trade Statistics
5.11 Regulations
5.12 Patents Analysis
5.13 Case Study Analysis
5.14 Technology Analysis
5.15 Key Conferences & Events in 2022-2023
5.16 Tariff and Regulatory Landscape
5.16.1 Regulatory Bodies, Government Agencies, and Other Organizations
6 Coating Resins Market, by Resin Type
6.1 Introduction
6.1.1 Thermoplastic Coatings
6.1.2 Thermoset Coatings
6.2 Acrylic
6.2.1 Largest Category of Binder Resins Used for Coating Applications
6.3 Alkyd
6.3.1 Distinguished for Rapid Drying, Good Adhesion, Elasticity, and Resistance to Marring
6.4 Vinyl
6.4.1 Development of Dispersion Type of Vinyl Resins to Boost this Segment
6.5 Polyurethane
6.5.1 High-Performance Characteristics to Increase Demand for this Resin Type
6.6 Epoxy
6.6.1 Offers a Unique Combination of Adhesion, Chemical Resistance, and Physical Properties
6.7 Unsaturated Polyester
6.7.1 Ease of Manufacturing and Cost-Effectiveness to Propel Demand for this Resin
6.8 Saturated Polyester
6.8.1 Multi-Characteristic Resins with Superior Properties
6.9 Amino
6.9.1 Excellent Tensile Strength, Hardness, and Impact Resistance to Drive Market
6.10 Others
7 Coating Resins Market, by Technology
7.1 Introduction
7.2 Waterborne Coatings
7.2.1 Type
7.2.2 Resin Types Used in Formulation of Waterborne Coatings
7.2.3 Applications of Waterborne Coatings
7.2.4 Advantages and Disadvantages of Waterborne Coatings
7.3 Solventborne Coatings
7.3.1 Advantages and Disadvantages of Solventborne Coatings
7.4 Powder Coatings
7.4.1 Type
7.5 Others
7.5.1 High-Solids Coatings
7.5.1.1 Type
7.5.1.2 Application
7.5.1.2.1 Product Finishing
7.5.1.2.2 Automotive Applications
7.5.1.3 Advantages and Disadvantages
7.5.2 Radiation-Curable Coatings
7.5.2.1 Type
7.5.2.2 Resin Systems
7.5.2.3 Applications
7.5.2.4 Advantages
7.5.2.5 Disadvantages
8 Coating Resins Market, by Application
8.1 Introduction
8.2 Architectural Coatings
8.2.1 Offer Decorative and Protective Features for Interior and Exterior Surfaces
8.3 Marine & Protective Coatings
8.3.1 Increasing Use of Epoxy Resins in Marine & Protective Coatings to Boost Market
8.4 General Industrial Coatings
8.4.1 Increasing Per Capita Income to Support Market Growth for General Industrial Coatings
8.5 Automotive Coatings
8.5.1 Passenger Car Sales in Developing Countries to Drive Automotive Coatings Segment
8.6 Wood Coatings
8.6.1 New Home-Building Activities to Propel Demand for Wood Coatings
8.7 Packaging Coatings
8.7.1 Food & Beverage Industry to Positively Influence Packaging Coatings Segment
8.8 Coil Coatings
8.8.1 Corrosion Resistance and Durability Properties of Coil Coatings to Drive Market
8.9 Others
8.9.1 Aerospace
8.9.2 Graphic Arts
9 Coating Resins Market, by Region
10 Competitive Landscape
10.1 Overview
10.1.1 Overview of Strategies Adopted by Key Coating Resins Players
10.2 Company Evaluation Quadrant Matrix (Key Players)
10.2.1 Stars
10.2.2 Emerging Leaders
10.2.3 Pervasive Players
10.2.4 Participants
10.3 Strength of Product Portfolio
10.4 SME Matrix (2021)
10.4.1 Responsive Companies
10.4.2 Progressive Companies
10.4.3 Starting Blocks
10.4.4 Dynamic Companies
10.5 Market Share Analysis
10.6 Revenue Analysis
10.6.1 Arkema
10.6.2 BASF SE
10.6.3 Covestro
10.6.4 Allnex
10.6.5 Dow
10.7 Competitive Benchmarking
10.8 Market Ranking Analysis
10.8.1 Competitive Situation and Trends
11 Company Profiles
11.1 Major Players
11.1.1 Arkema
11.1.2 BASF SE
11.1.3 Covestro AG
11.1.4 Allnex
11.1.5 Dow
11.1.6 The Sherwin-Williams Company
11.1.7 Evonik Industries AG
11.1.8 Polynt-Reichhold
11.1.9 Huntsman International LLC
11.1.10 Mitsubishi Chemical Corporation
11.2 Other Companies
11.2.1 Toray Industries, Inc.
11.2.2 Mitsui Chemicals, Inc.
11.2.3 Solvay
11.2.4 Eastman Chemical Company
11.2.5 Dic Corporation
11.2.6 The Lubrizol Corporation
11.2.7 Momentive Performance Materials Inc.
11.2.8 Celanese Corporation
11.2.9 Olin Corporation
11.2.10 Wacker Chemie AG
11.2.11 Hexion
11.2.12 Kraton Corporation
11.2.13 Perstorp Ab
11.2.14 Wanhua Chemical Group Co. Ltd.
11.2.15 Kukdo Chemical Co. Ltd.
11.2.16 Helios Resins
11.2.17 Synthopol
11.2.18 Synthomer PLC
11.2.19 Nama Chemicals
11.2.20 Saudi Industrial Resins Limited
11.2.21 Atul Ltd.
11.2.22 Gulf Chemical & Industrial Oils Co.
11.2.23 Industrial Chemicals & Resins Co.
11.2.24 Hitech Industries Fze
11.2.25 Esterpol
11.2.26 Other Related Companies
12 Appendix
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