Exploring the Global Coating Resins Market: Opportunities, Key Trends and Growth Drivers

Coating resins are compounds that are used in the formulation of coatings and paints to provide crucial features such as adhesion, durability, gloss, and protection. These resins, which can be natural or synthetic, are often applied to surfaces such as metal, wood, or concrete to improve their appearance and function while also protecting against environmental elements such as moisture, UV radiation, and corrosion.

The global Coating Resins Market is projected to grow from USD 53.9 Billion in 2022 to USD 71.0 Billion by 2027, at a CAGR of 5.7% During Forecast Period.

The market's 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.

Download PDF Brochure:?https://bit.ly/3KITyvq ?

The coating resins market is categorized based on various resin types, including:

• Acrylic Resins: Acrylic coating resins are known for their versatility, excellent weather resistance, and adhesion properties. They are commonly used in applications requiring durability and UV resistance, such as automotive coatings and architectural paints.
• Alkyd Resins: Alkyd coating resins are synthetic resins made from the reaction of polyols and acids. They are valued for their fast drying times and versatility, making them suitable for a wide range of applications, including decorative paints and industrial coatings.
• Polyurethane Resins: Polyurethane coating resins are known for their exceptional durability, chemical resistance, and flexibility. They are commonly used in high-performance coatings for automotive, aerospace, and industrial applications.
• Vinyl Resins: Vinyl coating resins, such as polyvinyl chloride (PVC), are known for their cost-effectiveness and versatility. They find applications in a variety of coatings, including industrial finishes, architectural coatings, and marine coatings.
• Epoxy Resins: Epoxy coating resins are renowned for their excellent adhesion, chemical resistance, and durability. They are widely used in protective coatings for concrete, metal, and flooring, as well as in the marine and aerospace industries.

?"Architectural coatings is the largest application segment"

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.

"Polyurethane is the fastest-growing resin segment"

The polyurethane coating resins market is highly dependent on the growth of floors, boats, and metal objects markets. The high cost and requirement of special handling of the potentially hazardous isocyanates that are used as curing agents or in manufacturing are considered the disadvantages of these resins. However, various industry segments have been able to develop safe handling methods. The high-performance characteristics of polyurethanes, their ability to cure at lower baking temperatures, and decreased VOC content offset their high cost. For example, polyurethane is replacing polyvinyl chloride plastisols as undercoatings in the automotive and other transportation coatings markets.

"China is the largest coating resins market in the Asia Pacific"

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. North America and Europe are also prominent consumers of coating resins.

Share Your Requirements & Get Customized Reports: https://bit.ly/3Z8KPaf ?

The key players profiled in the coating resins market report are allnex Holdings S.à r.l., BASF SE, Covestro , Royal DSM N.V., DowDuPont Inc, DIC Corporation , Bayer , Celanese Corporation, Arkema S.A., INEOS Group Holdings S.A., Huntsman Corporation , Evonik Industries AG and others.

Recent Developments

• In May 2022, BASF expanded its Automotive Coatings Application Center at the Coatings Technology Center in Mangalore, India. The facility is meticulously designed to enable customer-oriented R&D activities coupled with accurate simulation of OEM paint shops.
• In November 2021, Covestro AG launches new Decovery resin for exterior coatings. It is a multi-purpose, bio-based, breathable resin to enable exterior coatings with improved outdoor durability and enhanced bio-based content.
• In July 2021, Allnex joined PTT Global Chemical Company Limited (GC