Pune, India, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The global coating resins market is set to gain impetus from the increasing development of greener processes by producers of final coating formulations, additives, pigments, and resins. This information is given by Fortune Business Insights™ The study further mentions that the coating resins market size was USD 33,707.6 million in 2019 and is projected to reach USD 47,412.8 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.

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As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities. We have also conducted a techno-economic study.

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A list of the renowned coating resins manufacturers operating in the global market:

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2020-2027
Forecast CAGR 4.7%
2027 Value Projection USD 47,412.8 Million
Base Year 2019
Coating Resins Market Size in 2019 USD 33,707.6 Million
Historical Data 2016-2018
No. of Pages 80
Segments Covered By Resins, By Formulating Technology and Regional
Coating Resins Market Growth Drivers Architectural Coatings Segment to Grow Rapidly Owing to High Demand for Durable Coatings

 
Key Players Focus on Acquisitions and New Product Launches to Gain a Competitive Edge

 

COVID-19 Pandemic to Affect Growth Backed by Low Demand from Automotive Industry

The outbreak of the COVID-19 pandemic is causing disruptions in the entire production and supply chain in the coatings industry. At the same time, renowned companies are facing a shortage of skilled laborers as most of them have traveled back to their hometowns because of stringent lockdown norms. It has also reduced the demand for coating resins from the automotive, white goods, electronics, and manufacturing industries. Our research reports will help you better understand the current situation to invest in significant zones.

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Drivers & Restraints-

Increasing Need to Develop Environmental-compatible Processes to Boost Growth

Nowadays, the availability of limited petrochemical resources and the rising environmental issues are resulting in the increasing research and development activities worldwide. These are meant for the development of bio-based polymers. Several manufacturers are striving to provide environmental-compatible goods and processes for a wide range of industries. Commercial epoxy resins can be easily epoxidized and they are cost-effective. These factors are expected to bolster the coating resins market growth in the coming years. However, the usage of alkyds in various coatings can be harmful for humans and the environment. It may hamper growth.

Segment-

Architectural Coatings Segment to Grow Rapidly Owing to High Demand for Durable Coatings

Based on the end-use industry, the architectural coatings segment is set to earn the largest coating resins market share throughout the forthcoming years. This growth is attributable to the surging demand for durable and high-performance coating resins for developing construction components. Besides, the increasing infrastructure spending would aid growth.

Regional Insights-

Asia Pacific to Dominate Stoked by Increasing Construction Activities

Geographically, Asia Pacific earned USD 14,158.9 million in terms of the coating resins market share in 2019. The region is anticipated to retain its dominant position in the coming years because of the rising production of automotive and increasing construction activities in the region. Besides, the high consumer spending and general industrial production would propel growth.

Europe, on the other hand, is likely to show considerable growth fueled by rising infrastructural investments and ongoing developments in the oil and gas sector. In North America, the increasing industrial manufacturing activities will lead to moderate demand for coating resins.

Competitive Landscape-

Key Players Focus on Acquisitions and New Product Launches to Gain a Competitive Edge

The market for coating resins contains several companies that are mainly aiming to elevate their positions by acquiring other local manufacturers. Some of the others are planning to develop state-of-the-art coating resins to attract more consumers. Below are the two latest industry developments:

The Study Objectives of this report are:

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Detailed Table of Content:

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