Overview:

Coating resins are chemical covering applied on the surface/object so that objects achieve properties such as hardness, corrosion resistance, etc. There are different types of coating such as acrylic, epoxy, polyurethane, alkyd, coating, etc. that offer various advantages such as quick drying times, gloss retention, and superior weathering to coatings.

Market Dynamics:

Rapid urbanization and industrialization in developing countries, increasing construction and reconstruction activities across the globe, along with rising demand for advanced coating solutions are major factors expected to drive growth of the global coating resins market.

Rapid advancements in coating technology, stringent government regulation related to VOC emission from coating products and increasing demand for eco-friendly solution are other factors expected to support growth of the target market.

Flourishing automotive sector in emerging economies along with high demand for waterborne coating solutions from manufacturers is expected to boost growth of the target market during the forecast period.

Key Trends:

Major players approach towards strengthening its distribution channel through partnership and agreements is a key trend seen in the target market. In 2020, Arkema signed a contract with Brenntag Canada as a primary distributor in Canada for all Arkema¡¯s waterborne resins sold under the ENCOR, CELOCOR, SNAP, and NEOCAR trade names. This is expected to help the company to strengthen its position in Canada and increase the profit share.

Regional Analysis:

For detailed understanding of market dynamics, the global coating resins market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounted for the significant revenue share in 2018, owing to flourishing construction sector. In addition, high government spending development of residential sector is resulting in demand for paints and coating material which is expected to support the growth of target market.

Scope of the Report:

Detailed Segmentation:

Global Coating Resins Market, By Type:

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Vinyl
• Unsaturated Polyester Resin
• Saturated Polyester Resin

Global Coating Resins Market, By Technology:

• Waterborne
• Solvent Borne
• High Solid
• Powder Coating
• Radiation Cured

Global Coating Resins Market, By Application:

• Architectural
• Industrial
• Protective & Marine
• Automotive OEM
• Vehicle Refinish
• Others (coil, aerospace, graphic arts)

Key Players Covered:

Key players operating in the coating resins market includes, The Sherwin-Williams Company, Polynt SpA, Allnex Belgium SA/Nv, Arkema S.A., BASF SE, Momentive Specialty Chemicals, Inc., Bayer AG, Royal DSM, The DOW Chemical Company, and Evonik Industries AG.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Coating Resins Market by type, technology, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global coating resins market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.