In the Report “Coating Resins Market: By Type (Acrylic, Alkyd, Amino, Epoxy, Others); By Formulation (Water, Solvent, Hot Melt, Others); By Application (Architectural, Automotive, F&B, Industrial, Others); By Geography – (2018-2023)” published by IndustryARC, the market drivers identifiedare the development of green, environmental-friendly and healthier coatingsystems,more durable coatings with better performance and better aesthetics, and lower costs and efficiency in use that will continue in coming years.
America continues leading growth in the Coating Resins Market
America’s Coating Resins Market is predicted to expand rapidly as compared to other regions,to generate a revenue of $11.78million by 2023. Reason behind fastest growth is that the region has been the pioneer in coatings and related chemicals, mainly driven by innovation, scale of manufacturing and robust chemical industry. Americas host many major suppliers of coating resins including Dow Chemicals and Momentive Specialty Chemicals, Inc.
In recent years, Brazil and Mexico has attracted significant investments in the manufacturing and infrastructure sectors. This expands the scope of coating resins market in this region. Architectural industry has always been the visible end-use industry for coating resins in America. The industry is mainly driven by the strong infrastructural industry and the rise in reconstructiontrend.EU’s economy is largely influenced by the dynamics of developed countries of Western Europe. However, the development is changing with the increasing investments in Eastern Europe. Countries like Russia and Turkey are actively partnering with private companies to invest in the development of infrastructure which drives the use of high quality coating resins. The European market for coating resins is expected to grow at a CAGR of 4% and to reach a revenue of $9.19 billion by 2023.
Asia-Pacific with increased concentration of industrial clusters, accounted for 47% of theglobal market and is forecast to maintain itspowerover the coming years. The APAC region is forecast to be the second fastest growing market for coating resins globally. The region accounted for a revenue of $16.50 billion in 2017 and is estimated to grow with a CAGR of 4.4% through the forecast period to reach $20.22 billion by 2023.
Selected Type Analysis done in the full Report:
Acrylic resinholds the highest share for coating resins market revenue due to the increasing demand from the end user segments such as architecture and automotive applications. New developments in waterborne acrylic technology are pushing the limits of their performance.Acrylic resins generated the maximum share of 31% in 2017, which accounted for $10.7 billion in the overall coating resins market. It is anticipated to grow at a CAGR of 5.4% and to reach $14.55 billion by 2023. The market is followed by alkyd resin,which also holds a considerable share of 16% in the global coating resins market.The alkyd resin market is set to experience a shift from using solvent to water based coatings. The global market revenue of alkyds in coatingresins is estimated to reach $6.14 billionat a CAGR of 2.9% during the forecast period of 2018 to 2023. The market revenue of amino resin coatings in application is estimated to reach $3.25 billion at a CAGR of 7.9% during the forecast 2018 to 2023.
Epoxies are undoubtedly the most extensively used coatings in the wastewater field. The market revenue for epoxy resinsin coating application is estimated to grow at a CAGR of 6.0% and to reach a revenue of $3.70 billion by 2023.Ethylene was majorly seen in high demand, where the suppliers of North America polyvinyl chloride (PVC) had announced aprice increase of up to $100/ton. The rise in cost was caused by the increasing demand for resin from India and China. The market for vinyl resins is estimated to reach $4.7 billion at a CAGR of 2.6% during the forecast period 2018-2023. Polyurethane resinis a highly potential market which has displayed a robust growth over the past few years. Automotive and Appliances segments are the largest end-user segment for polyurethane. Some key drivers for growth in the global polyurethane market are cost effectiveness and adaptability of polyurethane foams in their application industries.The polyurethane coatingmarket is expected to reach $5 billion by 2023. Saturated Polyester Resinsis estimated to reach a CAGR of 6.9%,followed by UnsaturatedPolyester Resins.
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Excerpts on Market Growth Factors
• South-East countries are undergoing a transformational change in terms of both the economic and infrastructural developments. So, new investments mainly in China in the sectors of infrastructure, automotive and food &beverage sectors would present high opportunities for coating resinfillingmarket.
• New applications for the waterborne acrylic resins are the growth factors for this industry. Thermal insulation coatings and sound damp coatings are the acrylic resins which is trending and since resins find their applications here, the overall market will see an opportunity to grow.
• There has been a shift from solvent borne coatings to waterborne coatings in the architectural space owing to the latest advancements which favors the companies with innovative resin offerings.
• Residential construction and interior design is picking up pace with the rise in the middle class group.However,the infrastructure construction is expected to trigger in the coming years, subduing the demand for coatings and related resins.
Key players of the Coating Resins Market
The major manufacturers of coating resin are the Dow Chemical Company, BASF SE and many others. HELIOS Group, Reichhold LLC, Allnex Belgium SA/NV are some of the players that produce coating resins for architectural coatings application market. DSM Coating Resins, Allnex Belgium SA/NV are some of the players that produce coating resins for automotive coatings application market. OMNOVA Solutions Inc., Nuplex Industries Ltd., BASF SE are some of the players that produce coating resins for industrial coatings application market. Michelman, Inc., and AkzoNobel N.V. are some of the players that produce coating resins for paper and pulp coatings application market.
Coating Resins Market report is segmented as below
A. Coating Resins Market: By Type
1. Acrylic Resins
2. Alkyd Resins
3. Amino Resins
4. Epoxy Resins
5. Vinyl Resins
6. Polyurethane Resins
7. Saturated Polyester Resins
8. Unsaturated Polyester Resin
B. Coating Resins Market – By Formulation
1. Water Based
2. Solvent Based
3. Hot Melt Based
4. Radiation Cured
5. Powder Based
6. Hot Melt Based
C. Coating Resins Market – By Application
3. Food Packaging
5. Paper and Pulp
D. Cloud Billing Market by Geography (covers 10+ countries)
E. Cloud Billing Market Entropy
Companies Cited / Interviewed
1. Koninklijke Dsm N.V
2. Arkema Sa
3. Evonik Industries Ag
4. Ineos Capital Limited
5. Hexion Inc.
6. Nuplex Industries Ltd
7. Resiquimica – Resinas Quimicas, S.A.
8. Ring International Holding Ag
9. Bayer Ag (Covestro)
10. The Valspar Corporation
11. Lubrizol Corporation
What can you expect from the report?
The Coating Resins Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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