Global Coating Resins Analysis by Adhesive Formulating Technology By Sealant Resin Type (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl), Application, Region - Global Forecast to 2027
Market Overview
Coating
resins provide specific protective attributes including resistance to alkali,
corrosion, fire, and chemicals. In addition, coating resins exhibit fast
drying, high gloss, color retention, good adhesion, stain resistance, and
pigment dispersion properties when used in architectural applications. The
increasing demand for coating resins in the building and construction industry
is expected to drive market growth during the forecast period. Furthermore, the
rising use of powder and water-based coating resins in the automotive industry
is projected to further drive market growth in the coming years.
Regional Analysis
Asia-Pacific,
North America, Europe, Latin America, and the Middle East & Africa are the
five key regions studied for the global coating resins market. In 2017,
Asia-Pacific dominated the global coating resins market owing to increasing
product demand in the automotive and building and construction industries.
Moreover, rapid industrialization coupled with the growing use of coating
resins in industrial coatings is further driving the growth of the regional
market.
The
other significant markets for coating resins are North America and Europe.
Increasing demand for the product in industrial and automotive applications is
expected to favor the growth of these regional markets.
Competitive Analysis
Some
of the prominent players in the global coating resins market are Arkema SA
(France), DowDuPont (US), BASF SE (Germany), Allnex Group (Germany), Wacker
Chemie AG (Germany), Royal DSM NV (Netherlands), Aekyung Chemical Co. Ltd
(South Korea), DIC Corporation (Japan), Tosoh Corporation (Japan), Westlake
Chemical Corporation (US), Nippon Shokubai Co. Ltd (Japan), Neville Chemical
Company (US), and Ferro Coating Resins (South Africa).
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Market Segmentation
The
global coating resins market has been segregated on the basis of type,
technology, application, and region.
By
type, the global coating resins market has been segmented into acrylic, alkyd,
epoxy, polyurethane, vinyl, and others. The acrylic segment is projected to
account for the largest share of the market during the forecast period due to
the excellent surface protection, dirt resistance, gloss retention, resistance
to chemicals, water and stains, and drying characteristics of acrylic coating
resins. These resins are used in primers, stains, sealers, and topcoats. The
increasing demand for acrylic resins in various industries is likely to drive
market growth during the forecast period.
On
the basis of technology, the global coating resins market has been segregated
into water-borne, solvent-borne, powder, UV-cured, and others. The water-borne
and powder coating technologies have been gaining significance in recent years
due to the increasing demand for low volatile organic compound (VOC) content
coatings. The powder coating segment is expected to dominate the market during
the review period owing to the high transfer efficiency, good exterior
durability, and largely recoverable overspray of these coatings. Also, it is
cost-effective and easy to use with minimal VOC content. The increasing use of
powder coatings in industrial and automotive applications is projected to favor
market growth during the review period.
Based
on application, the global coating resins market has been divided into
industrial, automotive, architectural, packaging, electronics, and others. The
architectural segment accounted for the majority share of the global coating
resins market in 2017. This can be attributed to the robust growth of the
building and construction industry where coating resins are used for roofs,
walls, and decks.
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