The coating resins market is projected to grow from USD 53.9 billion in 2022 to USD 70.9 billion by 2027, at a CAGR of 5.7% between 2022 and 2027. Asia Pacific is estimated to be the largest consumer of coating resins. The global coating resins major players have made several strategic developments across value chain to focus on changing customer preferences.
The key players operating in the market are Arkema (France), BASF SE (Germany), Covestro AG (Germany), Allnex (Germany), and Dow (US) are the key players in the global coating resins market.
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BASF SE has 11 divisions that are aggregated into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions, based on their business models. There are 50 global and regional business units, and 75 strategic business units. Coating resins are offered under the Industrial Solutions segment. The company has 232 production sites and 6 verbund sites in 90 countries across Europe, Asia Pacific, North America, South America, Africa, and the Middle East. The company has 10,000 employees engaged in R&D.
Covestro AG formerly Bayer MaterialScience, arose from the Bayer Group’s chemicals and plastics unit, and Covestro AG became an independent company. Covestro AG is a leading player in the field of supplying premium polymers. The company has 50 sites across Europe, Asia, and the US. All operations, right from the small technical centres to the large-scale production plants, are coordinated by the corporate headquarters at Leverkusen, Germany.
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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