PUBLISHER: IMARC | PRODUCT CODE: 1519787
PUBLISHER: IMARC | PRODUCT CODE: 1519787
The global coating resins market size reached US$ 40.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 56.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032.
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.
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.
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 2024-2032. Our report has categorized the market based on type, technology and application.
Acrylic
Epoxy
Polyurethane
Alkyd
Vinyl
Polyester
Others
Water-based Coatings
Solvent-borne Coatings
Powder Coatings
Others
Architectural
Industrial
Protective and Marine
Automotive OEM
Vehicle Refinish
Others
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
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.