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Coating Resins Market is projected to expand at a steady CAGR over the forecast by 2031 | Key Players : Bayer AG, Royal DSM, The Sherwin-Williams Company
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Coating resins are a type of synthetic resin that are typically used as a protective or decorative coating. They are often applied to surfaces in order to improve the appearance or durability of the material. There are many different types of coating resins available on the market, each with its own unique set of properties. Some common examples include acrylics, polyurethanes, and epoxies.
Key Players
The Coatings Resins Market includes players such as Bayer AG, Royal DSM, The Sherwin-Williams Company, Polynt SpA, Allnex group, Arkema Group, BASF SE, Hexion Inc, The Dow Chemical Company and Evonik Industries AG.
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Key Trends
There are several key trends in coating resin technology.
One is the development of more environmentally-friendly resins. This is being driven by regulations in many countries that are becoming more stringent with respect to the VOCs (Volatile Organic Compounds) emitted by coatings. Water-based resins are one type of resin that is becoming more popular for this reason.
Another key trend is the development of resins that have better performance properties, such as improved durability, scratch resistance, and UV resistance. This is being driven by the need for coatings that can withstand more demanding conditions, such as those found in the automotive and aerospace industries.
Key Drivers
The key drivers of the coating resins market are the growing construction and automotive industries, the increasing demand for eco-friendly products, and the need for high-performance coatings.
The construction industry is the largest user of coating resins, and the automotive industry is the second-largest user.
The demand for eco-friendly products is increasing due to the growing awareness of the environmental impact of coatings.
The need for high-performance coatings is driven by the increasing demand for durable and corrosion-resistant products.
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Market Segments
The Coatings Resins Market is segmented by type, technology, application and region. Based on resin type, the market is categorized into acrylic, epoxy, polyurethane, alkyd, vinyl, and others. Based on technology, the market is divided into waterborne, conventional solvent borne, high solid solvent borne, and others. Based on application, the market is classified into architectural, industrial, protective & marine, and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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