The latest report by IMARC Group titled, “Coating Resins Market Report by Type (Acrylic, Epoxy, Polyurethane, Alkyd, Vinyl, Polyester, and Others), Technology (Water-based Coatings, Solvent-borne Coatings, Powder Coatings, and Others), Application (Architectural, Industrial, Protective and Marine, Automotive OEM, Vehicle Refinish, and Others), and Region 2024-2032”, finds that the global coating resins market size reached US$ 40.3 Billion in 2023. Coating resins refer to polymer compounds that are used as protective layers to provide resistance against toughness, weather, corrosion, and stain. They are used to achieve durability and abrasion, impact and chemical resistance. They possess water repellence, high ductility, a captivating and elegant aesthetic, and no strong odor. They are used to update vintage furniture and furnishing items, including fireplaces and pellet stoves. In recent years, coating resins have gained momentum due to their widespread utilization in various industry verticals, such as the construction, automotive, and aerospace industries.
Global Coating Resins Market Trends:
One of the primary factors driving the market is the growing infrastructure sector due to the growing utilization of coating resins in roadway markings, such as zebra crossing and lane changing, for the safety of the masses. Additionally, the increasing number of residential and commercial constructions is boosting the demand for coating resins to protect wooden structures from pests and humid conditions. Other than this, the rising usage of liquid and bio-based epoxy resin electrodeposition (ED) coatings in industrial maintenance, transportation, and marine industries, is propelling the market growth. Besides this, the expanding paints and coatings industry is creating a positive market outlook. In line with this, the growing automotive sector is also fuelling the market growth. Apart from this, coating resins are also used in passenger cars and light and heavy-duty commercial vehicles to achieve adhesion to metals, mechanical strength, and heat resistance. Other growth-inducing factors include extensive research and development (R&D) activities to launch green coating resins on account of the growing environmental concerns and the extensive usage of coating resins in electrical wires to provide electrical insulation. Looking forward, IMARC Group expects the market value to reach US$ 56.0 Billion by 2032, expanding at a CAGR of 3.6% during the forecast period (2024-2032).
Market Summary:
- Based on the type, the market has been segmented into acrylic, epoxy, polyurethane, alkyd, vinyl, polyester, and others.
- On the basis of technology the market has been divided into water-based, solvent-borne, powder, and other coatings.
- Based on the application, the market has been classified into architectural, industrial, protective and marine, automotive OEM, vehicle refinish, and others.
- Region-wise, the market has been categorized into North America (the United States, and Canada), Asia-Pacific (China, Japan, India, Indonesia, Australia, South Korea, and others), Europe (Germany, Spain, France, the United Kingdom, Italy, Russia, and others), Latin America (Mexico, Brazil, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some 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.
Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, Technology, Application, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800