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Coating Resins Market

Coating Resins Market Size, Share & Industry Analysis, By Type (Acrylic, Alkyd, Vinyl, Polyurethane, Epoxy, Amino, Unsaturated Polyester, Others), By Technology (Waterborne, Solventborne, Powder, High Solids, UV/EB), By Application (Architectural, Industrial, Protective & Marine, Automotive OEM, Automotive Refinish, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Report Code: CHE00965
Report Format: PDF + PPT + Excel
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Report Description

Market Overview:

The Coating Resins Market is projected to grow at a CAGR of 5.8% from 2024 to 2031. The market value is expected to increase from YY USD in 2024 to YY USD by 2031, with Asia-Pacific emerging as the dominant region. Key metrics include increasing demand for eco-friendly coatings, growing construction industry, and rising automotive production.

The market is rapidly expanding as a result of technological breakthroughs in coating formulas, rigorous environmental regulations that promote low-VOC coatings, and an increase in applications across a wide range of end-use industries. The market is being altered by a trend towards environmentally friendly and high-performance coatings.

 

Market Dynamics:

Market Trend: Shift towards bio-based and sustainable coating resins

The coating resins market is rapidly transitioning towards bio-based and sustainable coating solutions. Rising environmental awareness, stricter VOC emission regulations, and increased customer demand for eco-friendly products are all driving this change forward. Manufacturers are investing in R&D to produce innovative bio-based resins generated from renewable resources such as plant oils, sugars, and natural polymers.

For example, many major corporations have produced bio-based coating resins that perform similarly, if not better, than old petroleum-based alternatives. These sustainable resins not only have lower carbon footprints, but they are also more durable and chemically resistant.

The trend is especially pronounced in areas with rigorous environmental legislation, such as Europe and North America. Furthermore, as a result of government initiatives and shifting consumer tastes, growing Asia-Pacific countries are increasingly interested in sustainable coating solutions.

Market Driver: Rapid urbanization and infrastructure development in emerging economies

Rapid urbanisation and infrastructural development in emerging nations are key drivers of the Coating Resins market. The growth of the building sector, particularly in China, India, and Southeast Asian countries, is raising demand for architectural coatings, which is driving the coating resins market.

The worldwide construction market will be worth $YY trillion by 2031, with emerging nations accounting for a sizable amount of that development. This increase is mostly due to increased demand for coating resins, which are used in a variety of applications such as interior and outdoor paints, floor coatings, and protective finishes.

Furthermore, government attempts to develop smart cities and improve existing infrastructure are opening up new potential for the coating resins industry. The demand for long-lasting, weather-resistant, and visually appealing coatings in these projects is propelling resin technology forward.

Market Restraint: Volatility in raw material prices affecting profit margins

The Coating Resins market confronts hurdles as raw material prices fluctuate. Petrochemicals are extensively used as monomers, solvents, and additives in resins, making them susceptible to swings in oil costs.

Crude oil prices have fluctuated drastically in recent years, with swings of up to 30% over short periods of time. These price changes have a direct impact on coating resin manufacturing costs, causing uncertainty in the supply chain and making it difficult for producers to maintain consistent pricing.

 

Segment Overview:

Acrylic resins dominate the type segment in the Coating Resins market.

Acrylic resins have the greatest market share in the Coating Resins market due to its versatility, strong weathering qualities, and diverse applications. These resins have exceptional durability, colour retention, and UV resistance, making them suitable for both indoor and outdoor coating applications.

Acrylic resins are very popular in the architectural coatings industry because of their superior adhesive characteristics and ease of application. Water-based acrylic resins are becoming increasingly popular in the car industry, as manufacturers seek more environmentally friendly coating alternatives.

A major chemical company recently introduced a new range of acrylic resins built exclusively for high-performance industrial coatings, with enhanced chemical resistance and shorter drying periods. This innovation addresses the growing demand for effective and long-lasting coating solutions in the industrial sector.

 

Regional Outlook:

Asia-Pacific dominates the Coating Resins market, driven by rapid industrialization, urbanization, and growing automotive and construction sectors.

Asia-Pacific currently dominates the Coating Resins market due to its big population, quick economic expansion, and rising manufacturing sector. The region, particularly China and India, has seen rapid growth in construction and automotive production, both of which are significant end users of coating resins.

Recent news emphasises the region's dedication to sustainable development. Several Asian countries have tightened their environmental standards, increasing demand for low-VOC and environmentally friendly coatings. This legislative initiative has offered opportunities for novel resin solutions that meet performance and sustainability standards.

Key figures show Asia Pacific's market supremacy:

  • The region represents around 40% of the worldwide coating resins market.

  • China's coatings industry is expanding at a CAGR of 7%, above the global average.

In terms of country-specific advancements, India is emerging as a major player in the coating resins market. The country's "Make in India" push, combined with increased foreign investment in industrial sectors, is fuelling demand for high-performance coatings in a variety of industries.

 

Competitive Intelligence:

The Coating Resins market is dominated by fierce competition from global and regional players. Major corporations employ product innovation, strategic alliances, and mergers and acquisitions to strengthen their market positions.

Leading multinational chemical companies dominate the industry because to their extensive R&D capabilities and global distribution networks. To satisfy shifting market needs, these companies are making significant investments in the development of sustainable and high-performance resin solutions.

Regional businesses, particularly those in Asia-Pacific, are gaining market share by providing cost-effective solutions that are suited to local market requirements. These enterprises typically have a greater awareness of local legislation and consumer preferences, allowing them to react more swiftly to market changes.

In terms of market share, the top five businesses generate approximately YY% of total revenue. The remaining market is divided into many small and medium-sized businesses, resulting in a vibrant and competitive environment.

Recent trends in the competitive landscape include:

  1. Included an emphasis on creating bio-based and low-VOC resin technologies.

  2. Expanding manufacturing capacity in emerging countries to meet rising demand.

  3. Strategic collaboration between resin manufacturers and coating formulators to create tailored solutions.

Companies are expected to invest in smart coating technologies with self-healing and antibacterial qualities in the future. The competitive landscape is expected to change further as sustainability becomes a significant market distinction.

 

Analyst Opinion:

The Coating Resins market is expected to expand significantly and transition in the approaching years. The combination of environmental changes, technical advancements, and rising demand from end-use sectors is propelling industrial innovation.

The development of multi-functional coating resins that combine properties such as durability, chemical resistance, and environmental friendliness is an exciting issue to follow. These novel resins have the potential to revolutionise coating applications across a variety of industries, including automotive and aerospace.

 

Major Players:

  1. BASF SE

  2. The Dow Chemical Company

  3. Arkema Group

  4. Allnex Netherlands B.V.

  5. Huntsman Corporation

  6. Evonik Industries AG

  7. Hexion Inc.

  8. Covestro AG

  9. DIC Corporation

  10. Koninklijke DSM N.V.

 

Key Developments:

  • September 2023: BASF SE introduces a new line of bio-based acrylic resins for architectural coatings that improves sustainability and performance.

  • Arkema Group purchased a speciality coating resins company in May 2023 to diversify its product portfolio and expand its presence in Asia-Pacific.

Table of Content

1. INTRODUCTION

   1.1. Market Definitions & Study Assumptions

   1.2. Market Research Scope & Segment

   1.3. Research Methodology

 

2. EXECUTIVE SUMMARY

   2.1. Market Overview & Insights

   2.2. Segment Outlook

   2.3. Region Outlook

 

3. COMPETITIVE INTELLIGENCE

   3.1. Companies Financial Position

   3.2. Company Benchmarking -- Key Players

   3.3. Market Share Analysis -- Key Companies

   3.4. Recent Companies Key Activities

   3.5. Pricing Analysis

   3.6. SWOT Analysis

 

4. COMPANY PROFILES (Key Companies list by Country) (Premium)

 

5. COMPANY PROFILES

   5.1. BASF SE

   5.2. The Dow Chemical Company

   5.3. Arkema Group

   5.4. Allnex Netherlands B.V.

   5.5. Huntsman Corporation

   5.6. Evonik Industries AG

   5.7. Hexion Inc.

   5.8. Covestro AG

   5.9. DIC Corporation

   5.10. Koninklijke DSM N.V. (LIST NOT EXHAUSTIVE)

 

6. MARKET DYNAMICS

   6.1. Market Trends

      6.1.1. Shift towards bio-based and sustainable coating resins

      6.1.2. Development of multi-functional coating resins

      6.1.3. Adoption of smart coating technologies

   6.2. Market Drivers

      6.2.1. Rapid urbanization and infrastructure development in emerging economies

      6.2.2. Increasing demand for eco-friendly coatings

      6.2.3. Technological advancements in coating formulations

   6.3. Market Restraints

      6.3.1. Volatility in raw material prices affecting profit margins

      6.3.2. Stringent environmental regulations

   6.4. Market Opportunities

   6.5. Porter's Five Forces Analysis

      6.5.1. Threat of New Entrants

      6.5.2. Bargaining Power of Buyers/Consumers

      6.5.3. Bargaining Power of Suppliers

      6.5.4. Threat of Substitute Products

      6.5.5. Intensity of Competitive Rivalry

   6.6. Supply Chain Analysis

   6.7. Value Chain Analysis

   6.8. Trade Analysis

   6.9. Pricing Analysis

   6.10. Regulatory Analysis

   6.11. Patent Analysis

   6.12. SWOT Analysis

   6.13. PESTLE Analysis

 

7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   7.1. Acrylic

   7.2. Alkyd

   7.3. Vinyl

   7.4. Polyurethane

   7.5. Epoxy

   7.6. Amino

   7.7. Unsaturated Polyester

   7.8. Others

 

8. BY TECHNOLOGY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   8.1. Waterborne

   8.2. Solventborne

   8.3. Powder

   8.4. High Solids

   8.5. UV/EB

 

9. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   9.1. Architectural

   9.2. Industrial

   9.3. Protective & Marine

   9.4. Automotive OEM

   9.5. Automotive Refinish

   9.6. Others

 

10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

    10.1. North America

        10.1.1. United States

        10.1.2. Canada

        10.1.3. Mexico

    10.2. Europe

        10.2.1. Germany

        10.2.2. United Kingdom

        10.2.3. France

        10.2.4. Italy

        10.2.5. Spain

        10.2.6. Rest of Europe

    10.3. Asia-Pacific

        10.3.1. China

        10.3.2. Japan

        10.3.3. India

        10.3.4. South Korea

        10.3.5. Australia

        10.3.6. Rest of Asia-Pacific

    10.4. Latin America

        10.4.1. Brazil

        10.4.2. Argentina

        10.4.3. Rest of Latin America

    10.5. Middle East & Africa

        10.5.1. UAE

        10.5.2. Saudi Arabia

        10.5.3. South Africa

        10.5.4. Rest of Middle East & Africa

 

*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

Scope of the Report

Coating Resins Market Segmentation:

By Type:

  • Acrylic

  • Alkyd

  • Vinyl

  • Polyurethane

  • Epoxy

  • Amino

  • Unsaturated Polyester

  • Others

By Technology:

  • Waterborne

  • Solventborne

  • Powder

  • High Solids

  • UV/EB

By Application:

  • Architectural

  • Industrial

  • Protective & Marine

  • Automotive OEM

  • Automotive Refinish

  • Others

By Region:

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

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