Global Coatings Raw Materials Market 2019-2023 | Increasing Demand for Alkyd Resins to Boost Growth | Technavio
Technavio analysts forecast the global coatings raw materials market to grow at a CAGR of almost 5% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global coatings raw materials market for the period 2019-2023. (Graphic: Business Wire)
The increasing demand for waterborne coatings is one of the major trends being witnessed in the global coatings raw materials market 2019-2023. Consumers are increasingly preferring the waterborne coatings that are available in the market as water-dispersible paints, water-soluble paints, water-based alkyds, and emulsions or latex paints. The market is also being supported by strong housing and construction activities, notable automotive production, and greater consumption of printing inks in developing economies such as India, China, and Malaysia among others.
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According to Technavio analysts, one of the key factors contributing to the growth of the global coatings raw materials market is the increasing demand for alkyd resins in painting and coatings:
Global coatings raw materials market: Increasing demand for alkyd resins in painting and coatings
Alkyd resins are one of the key raw materials used to make synthetic paints and coatings as they are exceptionally compatible with a wide range of coating polymers. Alkyd resins are produced using chemicals such as polyhydric alcohols, polybasic acids, modifying agents, oils, and fatty assets that helps in significantly improving weathering properties of protective coatings. The sustained and high-consumption of paints and coatings are expected to trigger the demand for alkyd resins, which, in turn, will drive the growth of the global coatings materials market.
According to a senior analyst at Technavio for research on paints, coatings, and pigments, “Apart from the increasing demand for alkyd resins in painting and coatings, the growth of the coatings raw materials market is expected to be driven by the growing demand for coatings raw materials in the construction industry and the increasing demand of these products in APAC.”
Global coatings raw materials market: Segmentation analysis
The global coatings raw materials market research report provides market segmentation by type (resins, pigments and fillers, solvents, and additives), by region (APAC, Europe, North America, and ROW). It also provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC held the largest share of the market in 2017, accounting for about 51% share, followed by Europe, North America, and ROW respectively. The APAC region is expected to continue dominating the market during the forecast period owing to the rising industrialization in countries such as India, China, Malaysia, Vietnam, Japan, and South Korea.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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