The global coating resins market is significantly penetrating in their end-user industries. The characteristics of the end products differ as per the requirement of end- user industries and for different applications. The Asia-Pacific region is the fastest growing segment of the global coating resin market and is mainly attributed to high economic growth rate followed by heavy investment across industries such as automotive, consumer goods & appliances, building & construction, and furniture. The Asia-Pacific and RoW markets are estimated to show a rising growth in the next five years with the allied industries expected to stabilize the overall business need in the respective regions.
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R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of waterborne coating resins to replace other solvent borne coating resins and match the new demands coming from various types of applications.
Asia-Pacific is the largest market, both in terms of volume and value, followed by Western Europe. China, Japan, U.S., Germany, India, Brazil, and Russia are expected to persist as successful coating resin markets. The key players in the coating resins market are The Dow Chemical Company (U.S.), Momentive Specialty Chemicals Inc. (U.S.), and PCCR USA (U.S.). Some of the other companies operating in the global market include BASF SE (Germany), The Valspar Corporation (U.S.), Allnex (formerly Cytec) (U.S.), Evonik (Germany), Arkema S.A. (France), Royal DSM N.V. (The Netherlands), Nuplex Industries Ltd. (New Zealand), and Bayer AG (Germany).
The Eastern and Central European nations, emerging South-East Asian, and Latin American nations that will host the future global events would supplement the growth of coating resins in different applications. Governmental regulations and proposals for improvement of infrastructure, and the rising housing market in emerging economies will drive the coating resins market.
The coating resins demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies.
The current market value of the global coating resins market (2013) is about $27,065.21 million and is estimated to reach $38,715.35 million by 2019, at a CAGR of 6.25% between 2014 and 2019. The high demand across the industries, such as architectural coatings, automotive coatings, general industrial coatings, high performance coatings, wood coatings, packaging coatings, and others will increase the overall coating resins consumption.
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