BEIJING, Dec. 05, 2022 (GLOBE NEWSWIRE) — The global Coating Resins market size accounted for US$41.7 billion in 2021 and is expected to reach US$64.3 billion by 2030 and at a CAGR of 5 in 2022-2022 .1% will grow in 2030.
Resin coatings are the best way to position protective coatings in a variety of applications including automotive, architectural, construction, machine, marine, paper and pulp coatings, wood and other industrial applications. Waterborne polyurethane, alkyd, epoxy and acrylic resins are commonly found in automotive and other industrial and anti-corrosion coatings. In the paint and coatings industry, coating resins are also referred to as resin binders. Synthetic resins are applied to concrete porches, metal surfaces, hardwood floors, and garages to create durable, strong, and beautiful surfaces. Coating resins are also used in textiles and food packaging to create durable, high quality products. Coating resins are also used in consumer electronics, industrial plastics and packaging coatings.
Coating Resins Market Statistics
The global market value of coating resins was US$41.7 billion in 2021 and is expected to grow at a CAGR of 5.1% from 2022 to 2030. The market share of coating resins in Asia-Pacific in the coming years is set to reach around $17.9 billion% over the forecast years of 2022 to 2030. Among types, the sub-segment of acrylic segment achieved sales of 11 in 2021 $.68 billion trend driving industry growth
Coating Resins Market Growth Factors
Increasing demand for environmentally friendly coating solutionsIncreasing demand for architectural paintsIncreasing trend towards polyurethane resins
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Flow Chemistry Market Coverage:
Coating Resins MarketCoating Resins Market Size 2021USD 41.7 BillionCoating Resins Market Forecast 2030USD 64.3 BillionCoating Resins Market CAGR During 2022-20305.1%Coating Resins Market Analysis Period2018-2030Coating Resins Market Base2021Coating Resins Market Forecast Data2022-2030Covered SegmentsBy Type, Application, By Technology And By Geography : Coating Resins Market Regional Scope: North America, Europe, Asia Pacific, Latin America and Middle East and Africa SA and Celanese Corporation. reporting report
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis
Coating Resins Market Dynamics
The growing demand for coating resins in the automotive and industrial sectors is expected to drive the growth of the global coating resins market. Several factors, including increasing disposable income and environmental impact, are driving the entire coatings industry. As a result, these factors are expected to boost demand for coating resins in the future. Coating resins are polymer compounds used in the manufacture of coatings and paints. These innovative materials act as shielding layers for a wide variety of substances and are fully utilized to provide corrosion, stain and hardness resistance. Various methods are used to produce coating resins. Both water-based and solvent-based formulations are possible. The process for producing 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 segmented into four categories: Type, Technology, Application and Region. The global coating resins market is segmented into acrylic, alkyd, amino, epoxy, polyester, polyurethane, vinyl and others. The global coating resins market is segmented into four categories based on technology: powder coatings, solvent coatings, waterborne coatings, and others. The global market for coating resins is divided into six applications: industrial coatings, automotive coatings, wood coatings, conformal coatings, architectural coatings and marine coatings. The global coating resins market is segmented into five regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market share of coating resins
An analysis of the coating resins market shows that the acrylic resins segment had the largest market share in 2021. Water-based paints are expected to hold the largest market share in the foreseeable future and technologically dominate the world market. According to the Coating Resins market forecast, the Architectural Coatings sub-segment is expected to dominate the global Coating Resins market.
Coating Resins Market regional scenario
During the forecast period, the Asia Pacific region is expected to feature the fastest developing region segment. The increasing initiative by the government to promote the use of Coating Resins medicines is expected to accelerate the demand for Coating Resins during the forecast period. In addition, the use of coating resins in important therapies such as replacement therapy, immune tolerance induction therapy and gene therapy is fueling growth in this area. Due to pharmaceutical advances in this region, Europe is one of the largest consumers of coating resins. In addition, continuous R&D activities in developed countries in this region, such as UK, Germany, and others, are increasing the awareness and consumption of coating resins, thereby promoting the market growth. In terms of revenue 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 continue this trend to the end of the forecast period. Factors such as increased awareness of the Coating Resins disorder and the need for a cure are driving the market growth in this region.
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Coating Resins Market Players
Royal DSM NV, Allenex Netherlands BV, Lanxess, DIC Corporation, BASF SE, Arkema SA, DowDuPont and Celanese Corporation are some of the well-known companies competing in the global coating resin market. Large market players are responsible for the global Coating Resins Market. It is very competitive due to the large number of local players. Partnerships, new product launches, acquisitions and mergers are examples of strategic initiatives launched by multinational companies. The major players in the global coating resins market are expected to benefit from innovative coatings and paint solutions, which are expected to be provided through R&D investments combined with advanced coatings technologies.
Questions answered by this report
– What was the size of the coating resins market in 2021? What will be the CAGR of Coating Resins Market during the forecast period 2022 to 2030? Who are the major players in the Global Coating Resins Market? Which region held the largest share of the Coating Resins market? in 2021? What are the key market drivers in the Coating Resins market? Who is the largest end-user of the Coating Resins market? What will be the size of the coating resin market in 2030?
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