Coating Resins Market

Dow Inc. (US) and Allnex GmbH (Germany) (PTT Global Chemical) are Leading Players in the Coating Resins Market

The global coating resins market size was USD 45.28 billion in 2024 and is projected to reach USD 57.34 billion by 2029; it is projected to register a CAGR of 4.8% between 2024 and 2029. The coating resins market growth is mainly driven by the increased demand from the construction, protective, and automotive sectors, a surge in investments in the infrastructure sector, increasing awareness for eco-friendly coating systems, and a rise in the purchasing power of consumers. Architectural coatings are expected to generate a continuous bulk demand for coating resins because of the developments in the construction and industrial sectors. The market restraints include low availability and high price of specialized raw materials needed for highly specialized coatings and economic slowdown in European economies.

Coating resins bind the coating ingredients together and enable them to stick to the surface to which the coating has been applied. They determine the performance of the coatings and appearance characteristics, such as water or scratch resistance, ability to protect against corrosion, and gloss or matt finish.

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Dow Inc. (US), Allnex GmbH (Germany) (PTT Global Chemical), Covestro AG (Germany), Arkema SA (France), BASF SE (Germany), Huntsman International (US), Synthomer plc (UK), Nan Ya Plastic Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), DIC Corporation (Japan), Eternal Materials Co., Ltd. (Taiwan), Jiangsu Sanmu Group (China), Chang Chun Group (Taiwan), Wanhua Chemical Group (China), Wacker Chemie (Germany), Olin Corporation (US), Momentive Performance Materials (US), Lubrizol Performance Coatings (US), Polynt-Reichhold (Italy), and Helios Resins (Slovenia) are the leading players in the coating resins market.

Dow Inc.: Dow Inc., headquartered in Michigan (US), is one of the largest chemical companies, globally, providing industries with innovative products. The company offers cutting-edge products to a variety of industries. The business operates in several major sectors, including consumer care, packaging, infrastructure, and transportation. Coating resins are offered under the Performance Materials and Coatings segment. Its coating resins division is essential to provide superior solutions for industrial, specialty, and architectural coatings. Dow employs various resin technologies, such as acrylics, polyurethane, and epoxies, utilizing sustainability and performance.

Dow is a multinational company with production and research facilities located throughout Europe, Asia-Pacific, Latin America, and North America. Dow continues to support producers and formulators with a wide range of coating resins that provide high-performance solutions for functional, and protective applications.

Allnex GmbH: Allnex is one of the world's largest manufacturers of coating resins, with a diverse range of products for many applications such as automotive, industrial, protective coating, and architectural applications. It supplies high-performance coating resins, such as alkyds, acrylics, polyesters, epoxy, and polyurethanes, to enhance durability, performance, and sustainability. Allnex innovations have contributed immensely to the coating industry, primarily through their constant advancement in UV/EB curing systems, powder coating resins, and waterborne resins, which are environmentally friendly, to raise global awareness of sustainable products.

In March 2022, Allnex acquired the D.R. Coats Ink & Resins' Mahad manufacturing location in Maharashtra, India. Allnex has expanded its resin production and strengthened its presence in the local market. With future intentions for wider chemistries, the website will primarily concentrate on liquid resins.

Covestro AG: Covestro is a major supplier of polymer materials. Covestro serves key industries, such as electronics, healthcare, construction, and automotive. Its innovative materials for coatings, adhesives, and sealants, which serve various industries, are among its main products. The company is increasingly focusing its product portfolio on sustainable solutions, as demonstrated by the acquisition of DSM's Resins & Functional Materials (RFM) business. It complements innovation capabilities and sustainable product portfolios with complementary technologies. Additionally, it is becoming one of the leading suppliers of sustainable coating resins.

In November 2021, Covestro AG introduced the new Decovery resin for exterior coatings. It is a multi-purpose, bio-based, breathable resin that facilitates exterior coatings with improved outdoor durability and enhanced bio-based content.

Arkema SA:

Arkema is one of the major players in the chemicals industry. It operates through three distinct and complementary segments devoted to specialty materials: Adhesive Solutions, Advanced Materials, and Coating Solutions, and a fourth segment called Intermediates. Arkema provides solutions to the construction, transportation, packaging, and electronics industries. The company has a significant worldwide presence, with industrial sites and research facilities spanning over 55 nations. Its initiatives in green chemistry, particularly in bio-based and low-VOC resins, demonstrate its commitment to innovation and are in line with global environmental trends. Arkema's focus on customer-driven solutions and technological advancements allows it to remain a prominent competitor in the global coating resins market.

In October 2023, Arkema expanded its production capacity for Sartomer UV/LED curing resins at its expanded Nansha, China facility, providing sustainable solutions in rapidly expanding Asian markets such as renewable energy and 5G devices.

BASF SE: BASF has six major divisions: Chemicals, Materials, Industrial Solutions, Nutrition & Care, Surface Technologies, and Agricultural Solutions. The company has invested in developing a strong brand portfolio, which can be extremely beneficial if the company plans to expand into new product categories. It has been successful in developing new products and innovations. One of its main areas of concentration is coating resins, where BASF creates innovative, environmentally friendly resin solutions for use in the packaging, industrial, automotive, and construction industries. These resins work exceptionally well, improving coated items' toughness, appeal, and environmental sustainability. BASF's coating resin products provide a range of technologies, including solventborne, powder, waterborne, and UV-curable coatings.

In April 2021, Azelis and BASF announced new distribution agreement, for the dispersions, additives, and resins in Australia and New Zealand (ANZ). The products are commonly used in coatings, adhesives, sealants, elastomers, and construction applications.

Related Reports:

Coating Resins Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Vinyl), Technology (Waterborne, Solventborne, Powder), Application (Architectural, Protective, General Industrial, Automotive, Wood, Packaging), & Region - Global Forecast to 2029

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Coating Resins Market Size,  Share & Growth Report
Report Code
CH 2772
RI Published ON
10/29/2024
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