The report "Coating Resins Market by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy), Technology (Waterborne, Solventborne), Application (Architectural, General Industrial, Automotive, Wood, Packaging) and Region - Global Forecast to 2027", is projected to grow from USD 53.9 Billion in 2022 to USD 71.0 Billion by 2027, at a CAGR of 5.7% between 2022 and 2027. The markets growth is primarily triggered by the increased demand from the construction and automotive industries, a surge in investments in the infrastructure sector, demand for eco-friendly coating systems, and a rise in the purchasing power of consumers.
Browse 427 market data Tables and 64 Figures spread through 434 Pages and in-depth TOC on "Coating Resins Market by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy), Technology (Waterborne, Solventborne), Application (Architectural, General Industrial, Automotive, Wood, Packaging) and Region - Global Forecast to 2027"
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Architectural coatings is the largest application segment of the overall coating resins market.
The architectural segment accounts for the largest share, in terms of value and volume, of the overall coating resins market. Architectural coatings include exterior and interior house paints, sealers, primers, stains, and varnishes. Consumers and contractors buy them through retail and wholesale outlets; large commercial organizations purchase directly from the manufacturers. The growth of the architectural coatings segment depends mainly on the performance of the construction industry. Residential construction is the main factor driving the architectural coatings market segment.
Polyurethane is the fastest-growing resin segment of the overall coating resins market.
The polyurethane coating resins market is highly dependent on the growth of floors, boats, and metal objects markets. The high cost and requirement of special handling of the potentially hazardous isocyanates that are used as curing agents or in manufacturing are considered the disadvantages of these resins. However, various industry segments have been able to develop safe handling methods. The high-performance characteristics of polyurethanes, their ability to cure at lower baking temperatures, and decreased VOC content offset their high cost. For example, polyurethane is replacing polyvinyl chloride plastisols as undercoatings in the automotive and other transportation coatings markets.
China is the largest coating resins market in Asia Pacific during the forecast period.
China has been the driving force behind the rapid expansion of the paints & coatings market, not only in the Asia Pacific region, but also across the world. Population growth, improved lifestyle, availability of low-cost labor, and restructured environmental regulations are expected to fuel the demand for coating resins in China. The country is expected to significantly increase its investments in real estate and non-residential construction and the export of construction services and building products to key global markets.
The key players profiled in the coating resins market report are Arkema (France), BASF SE (Germany), Covestro AG (Germany), Allnex (Germany), and Dow (US).
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