Coating Resins Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Coating Resins Market is segmented By Resin Type (Acrylic, Epoxy, Polyurethane, Vinyl, Others), By Formulation (Waterborne, Solvent-borne, Powder coatings, Others), By Application (Architectural, Automotive, Marine, Vehicle furnishes, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Coating Resins Market Overview

Report on Global Coating Resins by DataM Intelligence estimates the market to grow at a CAGR of 4.5% during the forecast period 2024-2031.

Coating resins are organic compounds. These are coverings applied on the object's surface with imparting properties such as hardness, corrosion resistance, weather resistance, and stain resistance. These coatings are extensively used in furniture, automotive, marine, and protective applications. In recent years, the market has been developing new industrial bio-based coatings in standalone facilities. With this trend, the global coating resin market is expected to grow with a high CAGR during the forecast period.

Coating Resins Market Summary

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Coating Resins Market Trends

Growth in the construction industry is boosting the growth of the market. These are environment-friendly coatings used in architectural designs. For instance, they are majorly used in roadway marking due to their weather resistance properties responsible for reducing the maintenance cost. Also, coating resins have huge demand in woodturners and furniture due to the growing need to protect wooden structures from pests and humid conditions.

Additionally, growth in the automobile sector is also propelling market growth. Automotive manufacturers majorly use these automotive refinish coatings for passenger cars, light and heavy-duty commercial vehicles to increase their lifespan. According to OICA, global automobile production between 2000 and 2017 was increased by approximately 25%.

Coating Resins Market Segmentation Analysis

Based on applications global coating resins market is segmented into automotive, construction, marine, wooden furniture and others. Of all these, automotive applications accounted for a major market share. The automotive manufacturers are trying to establish manufacturing facilities in emerging countries due to low labor costs, favorable government regulations, and easy accessibility to the raw material. These manufacturers are increasingly shifting toward low-cost and high-performance OEM coatings. All these factors are driving the global coating resins market.

In the forecast period, the application of the architectural coating is expected to grow at a higher CAGR. Booming construction activities, the rise in awareness about environmentally-friendly products, and green environmental regulations are expected to drive architectural coatings. For instance, according to the World Bank, the global expenditure from the construction industry is expected to reach USD 14 trillion by 2025.

Based on resin type, the global coating resins market is broadly segmented as vinyl, polyurethanes, epoxy, acrylic, polyester resins, and others. Among all these, polyurethanes occupied the major market share. The forecast period is expected to grow at a higher CAGR, owing to their usage in various applications sThe refrigerators, r drums, and range cabinets. Also, the high-performance characteristics of polyurethanes, such as their ability to cure at lower-baking temperatures, and improved total coating solids, the ability to obtain decreased volatile organic compound content, boost the market further.

Coating Resins Market Geographical Share

The global coating resins market is segmented into Northboostrope, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific occupies the dominant share in the coating resins market and is expected to grow at a CAGR of XX% in the forecast period, owing to industrial development and improving economic conditions. Rapid growth in construction activities and an increase in the number of automobiles, shipbuilding, and wooden furniture drive market growth in this region. For instance, according to the Korea shipbuilding association (KOSHIPA), the shipbuilding order volume in South Korea accounted for six million CGT in 2017, which is two million more than the previous year.

Coating Resins Market Comanies

Significant players in the global coatings resins market are Arkema S.A., BASF SE, Royal DSM N.V., Allnex Netherlands B.V., DowDuPont, Bayer AG, The Sherwin-Williams Company, Polynt SpA.  Momentive Specialty Chemicals, Inc., The Dow Chemical Company, Evonik Industries AG and others. Most of these companies plan to launch new products to maintain their share in the coating resins market. These companies are also aiming to invest in R&D for further market competitiveness.

Key Takeaways

In April 2016, Arkema increased its powder coating resins manufacturing facility in North Kansas City, US, by approximately 35%.

In July 2018, Royal DSM N.V. launched a new Coating Resins website to provide insight into various resins' performance and sustainability.

In January 2014, Arkema entered into a joint venture with Jurong Chemical (China), which led to Taixing Sunke Chemicals Co., Ltd., to accelerate the development of the Coating Solutions segment in China and Asia.

Why Purchase the Report?

• Visualize the composition of the Coating Resins market across each indication in terms of type and treatment options, highlighting the key commercial assets and players.

• Identify commercial opportunities in the Coating Resins market by analyzing trends and co-development deals.

• Excel data sheet with thousands of data points of the Coating Resins market-level 4/5 segmentation.

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

• Product mapping in excel for the key products of all major market players

Target Audience:

• Equipment Suppliers/ Buyers

• Service Providers/ Buyers

• Industry Investors/Investment Bankers

• Education & Research Institutes

• Research Professionals

• Emerging Companies

• Manufacturers