Coating Resins Market Trends

  • Report ID: 4245
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Coating Resins Market Trends

Growth Drivers

  • Development of Paints & Adhesives– Coating resins are polymer intensifiers that are used in the manufacture of paints and coatings as they function as protective coatings and are solely utilized for corrosion, toughness, weather resistance, and stain resistance. Recent calculations revealed that the global paints and adhesives industry generated a revenue of approximately USD 160 billion in the year 2020.
  • Growing Automotive Industry- The recent high demand for automobiles is anticipated to increase the demand for coating resins as are employed as additives to provide extra protective layers and to create a sleek, glossy appearance to the vehicles. As per recent statistics, the global automotive industry is forecasted to reach approximately USD 9 trillion by 2030.

Challenges

  • Stringent Regulatory Policies by Government - The government is adopting new regulatory policies across the world and all the manufacturers must cope with the new policies periodically. The industry negotiators wish to see regulations on the air quality standards or emission limit values so they are left with the selection of control options. The products which do not meet the regulations of the government are not allowed into the European Market.
  • Fluctuation in Prices of Raw Materials Such as Petrochemicals and Natural Resources
  • Safety and Health Concerns of the Workers

Coating Resins Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 56 Billion

Forecast Year Market Size (2035)

~ USD 112 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Base Year

2024

Forecast Year

2025-2037

CAGR

5.1%

Base Year Market Size (2024)

USD 58.36 billion

Forecast Year Market Size (2037)

USD 111.42 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 4245
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of coating resins is evaluated at USD 60.74 billion.

The coating resins market size was valued at USD 58.36 billion in 2024 and is projected to exceed USD 111.42 billion by the end of 2037, registering over 5.1% CAGR during the forecast period i.e., between 2025-2037. Rising construction sector and the growing development of renewable energy projects will drive the market growth.

Asia Pacific industry is predicted to dominate majority revenue share 44% by 2037, impelled by growing chemical sector in the region.

The major players in the market are Allnex Netherlands BV, BASF SE, LANXESS, Koninklijke DSM N.V., The Dow Chemical Company, DIC Corporation, Bayer AG, Celanese Corporation, Eastman Chemical Company
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