The report “Coating Resins Market by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy), Technology (Waterborne, Solventborne), Application (Architectural, General Industrial, Automotive, Wood, Packaging) and Region – Global Forecast to 2027”, is projected to grow from USD 53.9 Billion in 2022 to USD 71.0 Billion by 2027, at a CAGR of 5.7% between 2022 and 2027. The markets growth is primarily triggered by the increased demand from the construction and automotive industries, a surge in investments in the infrastructure sector, demand for eco-friendly coating systems, and a rise in the purchasing power of consumers.
Some of the prominent key players are:
· Arkema (France)
· BASF SE (Germany)
· Covestro AG (Germany)
· Allnex (Germany)
· Dow (US)
Opportunity: Growth potential in less regulated regions
North America and Europe are highly regulated markets. Major manufacturers of coating resins based in these regions have to comply with stringent government rules and policies. However, the developing regions have fewer or no rules for this market. The coatings and coating resins markets in Asia Pacific and other emerging economies are less regulated, opening opportunities for the manufacturers
Architectural coatings is the largest application segment of the overall coating resins market.
The architectural segment accounts for the largest share, in terms of value and volume, of the overall coating resins market. Architectural coatings include exterior and interior house paints, sealers, primers, stains, and varnishes. Consumers and contractors buy them through retail and wholesale outlets; large commercial organizations purchase directly from the manufacturers. The growth of the architectural coatings segment depends mainly on the performance of the construction industry. Residential construction is the main factor driving the architectural coatings market segment.
China is the largest coating resins market in Asia Pacific during the forecast period.
China has been the driving force behind the rapid expansion of the paints & coatings market, not only in the Asia Pacific region, but also across the world. Population growth, improved lifestyle, availability of low-cost labor, and restructured environmental regulations are expected to fuel the demand for coating resins in China. The country is expected to significantly increase its investments in real estate and non-residential construction and the export of construction services and building products to key global markets.
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