Dec 9, 2021   SOURCE: BusinessWire

Global Coatings Resins Market Outlook & Forecasts, 2021-2026 - Increasing Demand from Construction Industry / Increasing Use of Bio-Based Epoxy Resins / Soaring Demand from Automotive Industry - ResearchAndMarkets.com

The "Coatings Resins Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global coating resins was valued at USD 40.42 billion in 2020 and is expected to reach USD 54.7 billion by 2026, growing at a CAGR of 5.17% during the forecast period.

The demand for coating resins is increasing at a rapid rate across all regions. The rise in living standards, growing disposable income, rapid urbanization, and government initiatives are significant factors driving the market for coating resins. The substantial investment by the government to create accessible accommodation for the growing population pool of urban dwellers is contributing to the rapid growth of the construction industry, which will positively impact the global industry.

The significant change happening in the coating industry is the continuous adoption of coating technologies to offer better products every time. These new coating technologies include water-borne coatings, powder-borne coatings, high solids coating, two-component systems, and radiation-curable coatings. The water-borne coating is the most preferred formulation in the coatings resin market. Coating resins are also gaining high traction across the marine industry.

COATING RESINS MARKET SEGMENTS

Water-borne coatings are widely adopted due to low or no VOC emissions. Water-borne coatings account for the largest share in the coating resin market.

The major trends accelerating the industry for coating resins are the continuous development and demand for higher performance to extend material life and reduce maintenance costs. Coating resins give the vehicle an aesthetic and glossy look and prevent it from dent, UV, scratch, and corrosion.

Increasing disposable income, rising living standards, and growing population are the prime reasons for the rising demand for motor vehicles globally, which will fuel the growth of the coating resins industry.

GEOGRAPHIC ANALYSIS

In North America, the US is the biggest market for coating resins, followed by Canada. In North America, with the several projects under pipeline for residential & non-residential, the demand for greenhouse and government investment for the construction of non-residential projects is likely to boost the demand for coating resins industry in the future years.

North America is expected to witness significant growth in the coating resins industry. The growing construction industry is driving the demand for acrylic resin, particularly in Asia-Pacific, North America, and Europe.

VENDOR LANDSCAPE

The coating resins market is highly competitive and is characterized by the presence of various key players. Companies are concentrating on delivering environment-friendly coating with low or no VOC content to intensify the competition.

Mergers and acquisitions benefit the companies in purchasing raw materials, distribution, and R&D, driven mainly by amalgamation. To survive in the intensive competitive environment, the manufacturers need to introduce new or improved coating additives products and adapt to the constantly changing trend.

SNIPPETS

  • APAC dominated the coating resins market in 2020 and is expected to grow in the coming years.
  • The coating resins market in Europe is growing in line with the global market.
  • The wood coating resin products market is growing due to growing urbanization in emerging economies across the Asia Pacific, Latin America, and European regions.

Key Vendors

  • BASF SE
  • The Lubrizol Corporation
  • Evonik Industries
  • Clariant

Other Prominent Vendors

  • Arkema SA
  • Eastman Chemical Company
  • Angus Chemical Company
  • Lonza
  • Cabot Corporation
  • Solvay
  • Huntsman International LLC
  • Univar Solutions Inc
  • Daikin Industries Ltd
  • Hexion
  • Kukdo Chemical, Co. Ltd
  • DIC Corporation
  • Toray Industries, Inc
  • Mitsui Chemicals, Inc
  • Wacker Chemie AG
  • Helios Resins

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope Of The Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Impact Of Covid-19

7.3 Industry FAQ

8 Growth Opportunity By Segment

8.1 Formulation Type

8.2 Coating Resin Type

8.3 End Use

9 Market Trends

9.1 High Growth Potential In Emerging Economies

9.2 Increasing Use Of Powder Coatings In Automotive Industry

10 Market Growth Enablers

10.1 Increasing Demand From Construction Industry

10.2 Increasing Use Of Bio-Based Epoxy Resins

10.3 Soaring Demand From Automotive Industry

11 Market Restraints

11.1 High Raw Material Costs

11.2 Increasing Environmental Regulation

12 Market Landscape

12.1 Market Overview

12.2 Market Size & Forecast

12.3 Five Forces Analysis

13 Formulation

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Solvent-Borne

13.4 Water-Borne

13.5 UV-Cured Coating

13.6 Powder-Borne

14 Coating Resin Type

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Acrylic Coating Resin

14.4 Epoxy Coating Resin

14.5 Alkyd Coating Resin

14.6 Urethane Coating Resin

14.7 Other Coating Resins

15 End Use

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Architectural Coating

15.4 Industrial Coating

15.5 Marine & Protective

15.6 Automotive Coating

15.7 Wood Coating

15.8 Coil Coating

15.9 Packaging Coating

15.10 Others

16 Geography

16.1 Market Snapshot & Growth Engine

16.2 Geographic Overview

For more information about this report visit https://www.researchandmarkets.com/r/ri09hv