Coating Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Coating Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global coating resins market size reached US$ 38.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

Coating resins are applied on the surface of different objects to achieve hardness and durability and abrasion, impact and chemical resistance. They have high ductility, water repellency, elegant and captivating aesthetic, quick cleaning capabilities, and no strong or unpleasant odors. They assist in updating vintage furniture and furnishing items, such as pellet stoves and fireplaces. At present, coating resins are used to extend the life of concrete floors in industrial facilities, warehouses, and logistic centers. They also find extensive applications in automotive, construction, and aerospace industries across the globe.

Coating Resins Market Trends:
At present, there is a rise in the demand for architectural coatings due to increasing residential and commercial constructions around the world. This, along with the growing utilization of roadway markings, such as zebra crossing and lane changing for the safety of the masses, represents one of the key factors driving the market. In addition, there is an increase in the employment of coating resins to protect wooden structures from pests and humid conditions. This, coupled with the escalating demand for these resins in passenger cars and light and heavy-duty commercial vehicles to achieve mechanical strength, adhesion to metals, and heat resistance, is propelling the growth of the market. Apart from this, the growing use of coating resins in electrical wires to provide electrical insulation is positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce green coating resins to develop environment-friendly products. They are also focusing on introducing water-based alkyd technologies. These innovations are projected to bolster the growth of the market in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global coating resins market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and application.

Breakup by Type:

Acrylic
Epoxy
Polyurethane
Alkyd
Vinyl
Polyester
Others

Breakup by Technology:

Water-based Coatings
Solvent-borne Coatings
Powder Coatings
Others

Breakup by Application:

Architectural
Industrial
Protective and Marine
Automotive OEM
Vehicle Refinish
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allnex (PTT Global Chemical Public Company Limited), Arkema S.A., BASF SE, Covestro AG, Dow Inc., Evonik Industries AG, Hexion Inc., Huntsman Corporation, Mitsubishi Chemical Holdings Corporation, Polynt S.p.A. and The Sherwin-Williams Company.

Key Questions Answered in This Report:
How has the global coating resins market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global coating resins market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global coating resins market and who are the key players?
What is the degree of competition in the industry?