Coating Resins Market Share

APAC Market Forecast

Coating resins market in Asia Pacific is predicted to account for the largest share of 44% by 2037 impelled by the growing chemical industry. The Indian chemical sector is poised for rapid growth as a result of the government's attempts to boost bio-based chemical inputs, and robust demand across end-user industries. This has led to the development of several paints, and coatings which are made using coating resins as a primary component. The chemical sector in India, which is lately valued at over USD 210 billion, is predicted to reach to more than USD 290 billion by 2025.

European Market Statistics

The Europe coating resins market is estimated to hold the second largest share of 25%, during the forecast timeframe led by the presence of stringent environmental regulations. EU inhabitants enjoy some of the world's highest environmental standards as the government in the region has developed relatively rigorous restrictions to protect its residents from environmental pressures and health and well-being threats. As a result, the demand for coating resins may witness a huge demand in the region as these coatings are frequently regarded as a more environmentally friendly alternative to solvent-borne coatings which are capable of protecting people from potentially dangerous compounds such as VOCs to promote healthy living. According to European climate legislation, EU countries must reduce greenhouse gas emissions by over 50% by 2030 to meet the goal of being carbon neutral by 2050.

North American Market Analysis

Also, the coating resins market in the North America is poised to hold significant share of 19% by the end of 2037 driven by the presence of aging infrastructure. Aging infrastructure is prevalent throughout the United States since the offshore oil and gas infrastructure and many of the country's roads, bridges, airports, dams, levees, and water infrastructure are aging and becoming more vulnerable to accidents, natural disasters, and stronger hurricanes. Therefore, coating resins are more in demand in the region to provide a tried-and-true approach for extending asset life, and for the restoration and maintenance of the repair projects.