Coating Resins Market | Key players operating in the market include Arkema, BASF, DSM, Allnex Netherlands B.V., Dow, and The Sherwin-Williams Company

According to recent market research "Coating Resins Market by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, Epoxy), Technology (Waterborne, Solvent-borne), Application (Architectural, General Industrial, Automotive, Wood, Packaging), and Region - Global Forecast to 2025", The market size for coating resins is projected to grow from USD 38.7 billion in 2020 to USD 48.8 billion by 2025, at a CAGR of 4.7%. Coating resins are largely used in the architectural as well as industrial applications. The acrylic resin segment is projected to register the largest share because of its usage in varied applications, such as architectural coatings, floor finishes, and automotive coatings. Polyurethane is the second most demanded resin type.

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The acrylic resin segment accounted for the largest market share in 2019. Acrylics are available in two types of composition: pure acrylics and complex acrylics (contain additional monomers). Pure acrylics contain only acrylic monomers. To obtain a resin with specific properties, or to reduce its cost, different monomers can be incorporated into the acrylic polymer. In the case of complex acrylics, styrene is the most used, and the resulting resin is known as styrene-acrylic. Styrene monomers are significantly less expensive than acrylic ones. They are known to increase water resistance and offer alkali resistance and improved hardness.

The general industrial coatings segment is projected to be the fastest-growing application of coating resins. The drivers for the market in this segment are population growth, improved standard of living, infrastructural development, global GDP growth, and growth of the construction sector. The demand for motors, generators, and transformers, agricultural equipment, and other industrial equipment is increasing globally, which is driving the demand for coating resins in the general industrial coatings application.

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Arkema (France) is a global player in the field of specialty chemicals and advanced materials. Arkema Coating Resins (ACR) is a global product line offering an extensive range of products to support customers in the coatings, adhesives, inks, and construction products markets. Arkema is expanding its business through new product launches, the establishment of new capacities, and making investments and expansions in the high-growth markets. As a part of the growth strategy, the company opened a new powder coating polyester resins manufacturing unit in Navi Mumbai, India. This new facility also includes a dedicated laboratory to provide both application development and technical support. The facility will help Arkema better serve customers in the fast-growing powder coatings market throughout India, as well as in the Gulf Region and neighboring countries.

BASF SE (Germany) is a diversified chemical company. The company has five business segments: Functional Materials & Solutions, Chemicals, Performance Products, Agricultural Solutions, and Others. It has a strong customer base and operates in many countries in Europe, North America, APAC, Africa, and the Middle East. In February 2016, BASF launched two new polymer dispersion products in the Indian market at Paint India 2016 in Mumbai. The two products - Acronal 7079 and AQAcell HIDE 6299, are designed for paints and coatings to help keep building exteriors clean and durable and improve carbon footprints through the reduction of titanium dioxide (TiO2).

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