Coating Resins Market size worth $ 47.77 Billion, Globally, by 2028 at 5.06% CAGR: Verified Market Research®

The market's growth is being driven primarily by some of the factors like rising demand from the construction and automotive industries, an increase in infrastructure investment, Increasing the usage of liquid and Bio-based Epoxy Resin, and Others.

JERSEY CITY, N.J., Aug. 3, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Coating Resins Market" By Resin Type (Acrylic, Alkyd, Vinyl, Epoxy), By Technology (Waterborne Coatings, Powder Coatings Solvent-borne Coatings), By Application (Architectural Coatings, Packaging Coatings, Packaging Coatings), and By Geography. According to Verified Market Research, the Global Coating Resins Market was valued at USD 18.01 Billion in 2020 and is projected to reach USD 47.77 Billion by 2028, growing at a CAGR of 5.06% from 2021 to 2028.

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Browse in-depth TOC on "Coating Resins Market"

202 - Pages
126 – Tables
37 – Figures

Global Coating Resins Market Overview

Increasing Usage of Liquid and Bio-based Epoxy Resin is one of the important growth drivers of the market. Various epoxy resins are widely utilized in electrodeposition (ED) coatings and industrial coatings, particularly in the transportation, industrial maintenance, and marine industries. Epoxy resins are also frequently utilized in powder coatings. The use of liquid epoxy resin in the development of high solids and ultra-high solids formulations is becoming increasingly common. Liquid epoxy resin is used to achieve 100% solid epoxy compositions for usage as concrete surfaces, tank linings, and other similar applications. It is frequently supplemented with phenoxy and novolac resins to increase performance and features.

Waterborne epoxy resin technology's performance has improved, allowing for greater application. Because of the extensive use of metal coatings, only a small fraction of technology was attained. In recent years, rising environmental and economic concerns, as well as the uncertainty that comes with limited petrochemical resources, have sparked a significant increase in research and development efforts to create bio-based polymers. Manufacturers are attempting to replace polymers derived from naturally occurring biofuels with petroleum-based products to meet the industrial demand for environmental protection. Furthermore, creating safer polymer production processes, such as the use of safer building blocks and additives, is of tremendous importance. DGEBA, cycloaliphatic epoxies or diglycidyl ethers of Novolac resins are extensively used to make commercial epoxy resins. Renewable natural resources have made it possible to act as building blocks for polymers due to their low cost, ecologically benign nature, and ability to be easily epoxidized.

Factors limiting the usage of coating resins include variable raw material prices and decreasing petrochemical stocks. These factors hinder the market growth. However, the worldwide coating resins industry has yet to realize its full potential.

Key Developments in Coating Resins Market

• In April 2021, Azelis announced a new distribution deal with BASF for dispersions, additives, and resins throughout Australia and New Zealand, starting immediately (ANZ). The goods covered by the agreement are widely utilized in coatings, adhesives, sealants, and elastomers (CASE), as well as building applications.
• In February 2021, Arkema announced ENCOR 2793 functionalized pure acrylic binder, a new formulation dedicated to multiple substrate primers and rehabilitation paints. It is free of alkylphenol ethoxylates and formaldehyde releasers.ENCOR 2793 pure acrylic has an excellent adhesion profile on a variety of surfaces, including wood, concrete, porcelain, plastics, and many others. It is simple to formulate. This opens the door to a wide range of applications, including multi-substrate primer, wall paints, wood lacquers, stain and tannin blocking primer, and two-coat repair paints.

The major players in the market are Arkema (France), BASF SE (Germany), Covestro (Germany), Allnex Netherlands B.V. (Germany), The Sherwin-Williams Company (US), Dow Inc. (US), Evonik Industries AG (Germany), Polynt-Reichhold (Italy), Huntsman International LLC. (US), and Mitsubishi Chemical Corporation (Japan).

Verified Market Research has segmented the Global Coating Resins Market On the basis of Resin Type, Technology, Applications, and Geography`.

• Coating Resins Market, By Resin Type:
• Acrylic
• Alkyd
• Vinyl
• Epoxy
• Unsaturated polyester
• Saturated polyester
• Amino
• Others
• Coating Resins Market, By Technology:
• Waterborne coatings
• Solvent-borne coatings
• Powder coatings
• Others
• Coating Resins Market, By Application:
• Architectural coatings
• Marine & protective coatings
• Packaging coatings
• Coil coatings
• Others
• Coating Resins Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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World's top 7 epoxy resin manufacturers building a stronger foundation for internationally operating industries

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