Coatings Resins Market, by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy, Others), Technology (Water-Borne, Solvent-Borne, High Solid, Powder Coatings, Radiation Cured), Application (Architectural, Industrial, Marine, Automotive, Vehicle Refinishes, Others), End-User (Building & Construction, Packaging, General Industrial, Automotive, Marine, Aerospace, Furniture): Global Opportunity Analysis and Industry Forecast, 2020–2027

The global coatings market will witness significant growth due to the growing usage of smart coatings. Developing markets and increasing buying power are some other drivers which are projected to boost market expansion.

Coatings Resins Market, Analysis:

Coatings resins are organic compounds that are mainly used in the production of coatings and paints. The utilization of coatings resins have been the highest for architectural coatings due to growing construction activities in the recent years.  Coatings resins are used to strengthen an object's structure against harsh environmental conditions. These resins are commonly used in the furniture, marine, and transportation sectors.

Increasing demand from end-users is expected to drive the global coatings resins market:

The need for fuel coatings resins for its benefits like fire-resistance and convenience of usability is expected to boost the demand for electrical wire used in automotive, residential, and commercial applications. Increasing usage of automotive refinish coatings in vehicle maintenance is projected to drive the coatings resins market. Moreover, growing demand for elegant architectural structures and stylish furnishings is also estimated to increase the demand for coatings resins over the projected period.

Rising cost of raw materials is anticipated to restrain the growth of the global coatings resin market:

The rising prices of raw materials are the major barrier to the growth of the coatings resin market. Some raw materials used in the manufacturing process of resins are pigments, solvents, and additives. The rising prices of raw materials add extra costs in the resins manufacturing process which eventually increases the price of end-products. This factor is foreseen to decline the growth of the coatings resins market.

Increasing demand for green coatings resins to create enormous opportunities for the global coatings resins market:

Eco-friendly products are increasingly gaining popularity in the worldwide market due to the enforcement of strict EU regulations, which is boosting the demand for coatings resins. Moreover, smart coatings technologies such as waterborne alkyd are replacing traditional ones. Also, the rising demand from the construction and manufacturing sectors is foreseen to provide lucrative opportunities for the growth of the global coatings resins market.

Coatings Resins Market, by Resin Types:

Acrylic resin type segment will be most lucrative till 2027

By resin type, the coatings resin market can be classified into acrylic, alkyd, polyurethane, vinyl, epoxy, and others. Amongst these, the acrylic coatings segment is most commonly used and is highly in-demand as it is waterproof, low in cost, and acts as a protection against stains. The acrylic coatings segment holds a dominating market share and is expected to continue dominating the market in the forecasting period.

Coatings Resins Market, by Technology:

Water-borne resins segment will register a significant growth till 2027

Based on technology, the coatings resins market is segmented into water-borne, solvent-borne, high solid, powder coatings, and radiation cured. Out of these, the water-borne resins segment holds a major market share and is estimated to continue dominating the market in the upcoming period. This is due to the increasing consumption of the water-borne resins by manufacturers of automobiles and décor. Water-borne resins are cost-effective and have superior quality.

Coatings Resins Market, by Applications:

Architectural application segment will be most lucrative till 2027

By applications, the coatings resins market is divided into architectural, industrial, marine, automotive, vehicle refinishes, and others. Out of these, the architectural application is anticipated to be the fastest-growing segment in the upcoming period. This is due to the rising demand for residential construction as a result of the growing population worldwide.

Coatings Resins Market, by End-Users:

Building & construction segment is estimated to dominate the coatings resins market 

Based on end-users, the coatings resins market is bifurcated into building & construction, packaging, general industrial, automotive, marine, aerospace, and furniture. Amongst these, the building & construction segment holds a dominating market share in the coatings resins market. This is due to growing construction activities in developing countries and increasing investments in the coatings resins market.

Coatings Resins Market, by Region:

Asia-Pacific region will have lucrative opportunities for market investors

The global coatings resins market is analyzed across North America, Europe, Asia-Pacific, LAMEA regions. The Asia-Pacific region dominates the market share and is expected to be at the forefront in the upcoming years. This is due to rapid growth in construction activities in emerging nations like India, China, Singapore, and Malaysia. Furthermore, rising government and foreign investments is another factor driving the market growth in these regions.

To explore more about Global Coatings Resins Market, get in touch with our analysts here.

https://www.researchdive.com/connect-to-analyst/318

Key Participants in the Global Coatings Resins Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Some of the major key players in the global coatings resins market are Dow Inc., Hexion Inc, Koninklijke DSM N.V., BASF SE, The Valspar Co., Arkema S.A, Nuplex Industries Ltd., Allnex, Evonik Industries AG, Bayer AG, and others.

Market Players prefer inorganic growth strategies to expand into local markets. Coatings resins market players are emphasizing more on mergers& acquisitions and advanced product developments. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the Porter’s five forces model is explained in the report.

Source: Research Dive Analysis

* Taxes/Fees, If applicable will be added during checkout. All prices in USD.