Coating Resins Market Growth Analysis, Predictions by Region, Type and Outlook to 2023

Major trend being witnessed in the global coating resins market is the shifting preference toward smart coatings. Materials that possess capabilities to change their properties according to external environmental stimuli, such as temperature and electric field are called smart coatings.

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Coating resins are organic compounds that are used to protect the surface of a material from extreme environmental conditions. Such resins are widely used in end-use industries including furniture, marine, and automotive.

Based on type, the coating resins market is categorized into acrylic, alkyd, vinyl, polyurethane, epoxy, amino, unsaturated polyester resins, and saturated polyester resins. Of these, acrylic category accounted for significant share in the market during the historical period, owing to their high solubility, elasticity, versatility, non-toxicity, and water-resistance properties.

Major factor driving the growth of the coating resins market is the growing construction industry in countries such as the U.S., China, India, and the U.K. Owing to the rise in population, these countries are witnessing rapid growth in construction industry resulting in large-scale investment in construction projects such as hotels, apartments, offices, retail centers, and civic infrastructures.

The coating resins market is characterized by the presence of multinational corporations, which have their presence in more than one country.

Some of the major companies operating in the global market are BASF SE, DowDupont Inc., The Valspar Corporation, Koninklijke DSM N.V., Nuplex Industries Limited, Hexion Inc., Bayer AG, Allnex Belgium SA/NV, and Arkema Group.

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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

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