The market is divided into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and others.
PORTLAND, OREGON, UNITED STATES, July 28, 2022 /EINPresswire.com/ — Demand for green & environment-friendly coating systems, rise in the global automotive industry, and increasing architectural coatings demand drive the growth of the global coating resins market. Asia-Pacific and Europe collectively contributed the highest share in 2017, and will maintain its dominance throughout the forecast period. During the coronavirus pandemic, the revenue generated from coating resins will be reduced for few months due to the restrictions on the application industries.
According to a new report published by Allied Market Research, titled, Coating Resins Market by Type, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global coating resins market was valued at $35,101 million in 2017, and is projected to reach $52,901million by 2025, growing at a CAGR of 5.3% from 2018 to 2025. The acrylic segment accounted for more than 22% share of the global coating resins market in 2017.
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COVID-19 impact analysis:
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The coatings resins market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the coatings resins market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the coatings resins market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
Based on technology, the market is divided into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and others. The radiation cured coating resin segment is projected to be the most lucrative segment during the forecast owing to lower volume of VOCs content. Furthermore, radiation cured coating resins are used to manufacture scratch, impact, abrasion, chemical, and mechanical resistance coatings.
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The architectural segment accounted for the largest share in 2017, and is expected to maintain the largest share throughout the forecast period. Moreover, the same segment would register the highest CAGR during the forecast period.
The key players operating in the market include Bayer AG, Royal DSM, The Sherwin-Williams Company (The Valspar Corporation) and Polynt SpA. Other prominent players include Allnex Belgium SA/Nv, Arkema S.A., BASF SE, Momentive Specialty Chemicals, Inc., The DOW Chemical Company, and Evonik Industries AG.
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the coatings resins market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the coatings resins market
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