Coating Resins Market Revenue, Future Growth, Business Prospects and Forecast to 2027 {{ currentPage ? currentPage.title : "" }}

The global  coating resins market size is set to gain impetus from the increasing development of greener processesby producers of final coating formulations, additives, pigments, and resins. This information is given by Fortune Business Insights™ in a new study, titled, “Coating Resins Market Size, Share & Industry Analysis, By Resins (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), By Formulating Technology (Water-based, Solvent-based, Powder, and Others), By End-use Industry (Architectural Coatings, General Industrial Coatings, Powder Coatings, Wood Coatings, Automotive OEM Coatings, Automotive Refinish Coatings, Protective Coatings, Packaging Coatings, and Others), and Regional Forecast, 2020-2027.” 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.

How Did We Create This Report?

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.

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.

Regional Insights-

Asia Pacific to Dominate Stoked by Increasing Construction Activities

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.

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.

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:

Information Source:

https://www.fortunebusinessinsights.com/coating-resins-market-104535

{{{ content }}}