Coating Resins Market Size, Competitor Ranking Analysis, Market Trend Forecast Report 2024-2029 | Expert Review

The Coating Resins Market is witnessing steady growth driven by demand across construction, automotive, packaging, and industrial applications. Innovation in eco-friendly and high-performance resins is shaping the industry landscape. Key players such as BASF SE, Arkema, Allnex, Covestro, and DSM are investing in sustainable solutions to meet evolving customer and regulatory needs.
The global coating resins market size is projected to reach a market size of USD 57.34 billion by 2029 from USD 45.28 billion in 2024, at a CAGR of 4.8%. The report includes information on market trends and development, coating resins market growth [https://www.marketsandmarkets.com/Market-Reports/coating-resins-market-72316133.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coatingresins] drivers, emerging technologies, and the investment structure of the market. Asia Pacific accounted for the largest share of coating resins in 2023. Coating resins are largely used in architectural and industrial applications. The acrylic resin segment is projected to be the largest share due to its use in various applications, such as architectural coatings, floor finishes, and automotive coatings. Emerging nations, such as China, India, Indonesia, and Brazil, are expected to play a crucial role in driving the coating resins market forward.

Acrylic resins represent the largest segment of the coating resins market in terms of value.

The acrylic resin segment had the largest market share in 2023. It is a low-cost material that provides water resistance, better stain protection, and good water resistance. Acrylics are offered in two types of composition: pure acrylics and complex acrylics (containing additional monomers). Pure acrylics contain only acrylic monomers. The acrylic polymer can be incorporated into the acrylic polymer to obtain a resin with specific properties or decrease its cost. In the case of complex acrylics, styrene is the most popular, and the resulting resin is known as styrene-acrylic resin. Styrene monomers are significantly more expensive compared to acrylic ones. They are known to increase water resistance, provide alkali resistance, and improve hardness.

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Waterborne coating resins represent the largest technology in the coating resins market in terms of value.

Waterborne technology accounted for the largest share of the global market in 2023. The shift from solventborne to waterborne coatings has been a trend in the coatings industry, mostly witnessed in the architectural coatings segment. The recent advancement in the EU legislation regarding environmental and health concerns has pushed for a greater application of waterborne coatings in the industrial sector.

An important innovation developed here is that waterborne resins have gained popularity as a better variant since solventborne resins have many environmental challenges. These waterborne solutions have lower VOCs, are eco-friendly, and have better stability and faster drying than traditional products.

The general industrial coatings are the fastest-growing application of the overall coating resins market.

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

The general industrial coatings market has numerous end-uses linked to multiple industries. General industrial coatings encompass a broad category of specialized coatings designed to protect surfaces in industrial environments. These coatings are formulated to withstand harsh conditions such as corrosion, abrasion, chemical exposure, and extreme temperatures. By providing durable and reliable protection, these coatings contribute to the longevity and efficiency of industrial operations across various sectors. They are utilized across various industries, including manufacturing, automotive, aerospace, marine, oil & gas, and construction.

Asia Pacific is the largest coating resins market.

Asia Pacific is the leading market for coating resins. The booming economies such as China, India, Indonesia, and Vietnam fuel the growth in the region. Acrylic resin is an ideal choice for architectural coatings in Asia Pacific. It is in high demand, as it is a low-cost material that provides excellent chemical- and photochemical resistance, stain protection, and water resistance and has superior adhesion to surfaces than other resin types.

Asia Pacific is a rapidly developing region with opportunities for companies keen to invest in high-growth markets. The sustainable coatings (low-VOC) segment is estimated to be one of the leading technology trends in this region as well as globally. By 2030, China is projected to play a key role as the emerging superpower in shipping. The country is expected to see the highest growth in commercial fleet ownership, contrasting Greece and other European countries. Additionally, the economic development of India is expected to become a giant driver of global trade in order of magnitude similar to China. These developments are expected to drive the demand for coating resins in the marine & protective coatings application.

Coating Resins Companies [https://www.marketsandmarkets.com/ResearchInsight/coating-resins-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coatingresins]

Dow Inc. (US), Allnex GmbH (Germany) (PTT Global Chemical), Covestro AG (Germany), Arkema SA (France), BASF SE (Germany), Huntsman International (US), Synthomer plc (UK), Nan Ya Plastic Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), DIC Corporation (Japan), Eternal Materials Co., Ltd. (Taiwan), Jiangsu Sanmu Group (China), Chang Chun Group (Taiwan), Wanhua Chemical Group (China), Wacker Chemie (Germany), Olin Corporation (US), Momentive Performance Materials (US), Lubrizol Performance Coatings (US), Polynt-Reichhold (Italy), and Helios Resins (Slovenia) are the leading players in the coating resins market.

Dow Inc.: Dow Inc., headquartered in Michigan (US), is one of the largest chemical companies, globally, providing industries with innovative products. The company offers cutting-edge products to a variety of industries. The business operates in several major sectors, including consumer care, packaging, infrastructure, and transportation. Coating resins are offered under the Performance Materials and Coatings segment. Its coating resins division is essential to provide superior solutions for industrial, specialty, and architectural coatings. Dow employs various resin technologies, such as acrylics, polyurethane, and epoxies, utilizing sustainability and performance.

Allnex GmbH: Allnex is one of the world's largest manufacturers of coating resins, with a diverse range of products for many applications such as automotive, industrial, protective coating, and architectural applications. It supplies high-performance coating resins, such as alkyds, acrylics, polyesters, epoxy, and polyurethanes, to enhance durability, performance, and sustainability. Allnex innovations have contributed immensely to the coating industry, primarily through their constant advancement in UV/EB curing systems, powder coating resins, and waterborne resins, which are environmentally friendly, to raise global awareness of sustainable products.

Covestro AG: Covestro is a major supplier of polymer materials.Covestro serves key industries, such as electronics, healthcare, construction, and automotive. Its innovative materials for coatings, adhesives, and sealants, which serve various industries, are among its main products. The company is increasingly focusing its product portfolio on sustainable solutions, as demonstrated by the acquisition of DSM's Resins & Functional Materials (RFM) business. It complements innovation capabilities and sustainable product portfolios with complementary technologies. Additionally, it is becoming one of the leading suppliers of sustainable coating resins.

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