Acumen Research and Consulting recently published report titled “Coating Resins Market and Region Forecast, 2022 - 2030”
BEIJING, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The Global Coating Resins Market Size accounted for USD 41.7 Billion in 2021 and is estimated to achieve a market size of USD 64.3 Billion by 2030 growing at a CAGR of 5.1% from 2022 to 2030.
Resin coatings are the best way to position protective coating layers in a variety of applications, including automotive, architecture, construction, machinery, marine, paper & pulp coatings, wood, and other industrial applications. Water-based polyurethane, alkyd, epoxy, and acrylic resin are commonly found in automobiles as well as other industrial and anti-corrosion coatings. In the paint and coating industry, coating resins are also known as resin binders. Synthetic resins are applied to concrete porches, metal surfaces, wooden floors, and garages to create durable, tough, and beautiful surfaces. Coating resins are also used in textiles and food packaging to create long-lasting, high-quality products. Coating resins are also used in consumer electronics, industrial plastics, and packaging coatings.
Coating Resins Market Statistics
- Global coating resins market value was USD 41.7 Billion in 2021 and expected to grow at CAGR of 5.1% from 2022 to 2030
- Asia-Pacific coating resins market share will gather around USD 17.9 billion market share in coming years
- Europe coating resins market growth registered considerable CAGR of 5.5% over the projected years from 2022 to 2030
- Among types, acrylic segment sub-segment collected USD 11.68 billion in revenue in 2021
- Based on technology, waterborne coatings recorded USD 23.35 billion of the market revenue in 2021
- Development of bio-based coatings is a key coating resins market trend that fuels the industry growth
Coating Resins Market Growth Factors
- Rising need for eco-friendly coating solutions
- Growing demand for architectural coatings
- Surging trend for polyurethane resins
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Flow Chemistry Market Coverage:
| Market | Coating Resins Market | |
| Coating Resins Market Size 2021 | USD 41.7 Billion | |
| Coating Resins Market Forecast 2030 | USD 64.3 Billion | |
| Coating Resins Market CAGR During 2022 - 2030 | 5.1% | |
| Coating Resins Market Analysis Period | 2018 - 2030 | |
| Coating Resins Market Base Year | 2021 | |
| Coating Resins Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Type, By Technology, By Application, And By Geography | |
| Coating Resins Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Royal DSM N.V., Bayer AG, Allenex Netherlands B.V., INEOS Group Holdings S.A., Lanxess, BASF SE, DIC Corporation, DosswDuPont, Arkema S.A, and Celanese Corporation. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Coating Resins Market Dynamics
The growing demand for coating resins in the automotive and industrial sectors is expected to drive growth in the global coating resins market. Several factors, including rising disposable income and impact on the environment, are driving the whole coating industry. As a result, these factors are expected to boost the demand for coating resins in the future. Coating resins are polymer compounds used in the production of coatings and paints. These innovative materials act as shielding layers for a wide range of substances and are completely used to provide corrosion, stain, and hardness resistance. Various methods are used to create coating resins. Both water and solvent-based formulations are possible. The method used to manufacture coating resins for a specific application is determined by specifications such as coating purpose, base material, and location, among others, so that properties such as viscosity, color, and consistency can be used effectively.
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Coating Resins Market Segmentation
The global coating resins market is divided into four categories: type, technology, application, and region. The global coating resins market is classified into acrylic, alkyd, amino, epoxy, polyester, polyurethane, vinyl, and others. The global coating resins market is divided into four categories based on technology: powder coatings, solvent coatings, waterborne coatings, and others. The global coating resins market is divided into six applications: industrial coatings, automotive coatings, wood coatings, protective coatings, architectural coatings, and marine coatings. The global coating resins market is divided into five regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Coating Resins Market Share
An analysis of the coating resins market shows that in 2021, the acrylic-type segment had the largest market share. Waterborne coatings are anticipated to hold the largest market share in the foreseeable future and will likely dominate the global market in terms of technology. The architectural coatings sub-segment is anticipated to rule the global coating resins market, according to the market forecast for coating resins.
Coating Resins Market Regional Scenario
Over the forecast period, the Asia-Pacific region is anticipated to witness the fastest developing region segment. The government's increasing initiative to promote the use of Coating Resins drugs is expected to accelerate Coating Resins demand over the forecast period. In addition, the use of Coating Resins in key therapies such as replacement therapy, immunotolerance induction therapy, and gene therapy is fueling growth in this field. As a result of pharmaceutical advancements in this region, Europe is one of the largest consumers of Coating Resins. Furthermore, continuous research and development activities in developed countries present in this region such as the United Kingdom, Germany, and others are raising awareness and consumption of Coating Resins, thereby boosting market growth. In terms of revenue generated from the sale of Coating Resins, the North America region holds the lion's share of the global Coating Resins market. The North America region has the largest market share and is expected to maintain this trend by the end of the prediction period. Factors such as increased awareness of the Coating Resins disorder and the need for a cure are propelling market growth in this region.
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Coating Resins Market Players
Royal DSM N.V., Allenex Netherlands B.V., Lanxess, DIC Corporation, BASF SE, Arkema S.A, DowDuPont, and Celanese Corporation are a few of the well-known companies competing in the global coating resins market. Large market players are in charge of the global coating resins market. It is very competitive due to the large number of local players. Partnerships, the introduction of new products, acquisitions, and mergers are examples of strategic initiatives that multinational corporations have started. The key players in the worldwide coating resins market are predicted to benefit from innovative coatings and paint solutions that are expected to be provided by R&D investments combined with advanced coating technologies.
Questions Answered By This Report
- What was the market size of Coating Resins Market in 2021?
- What will be the CAGR of Coating Resins Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Coating Resins Market?
- Which region held the largest share Coating Resins Market in 2021?
- What are the key market drivers Coating Resins Market?
- Who is the largest end user Coating Resins Market?
- What will be the Coating Resins Market value in 2030?
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