Coating Resins Market to Observe Strong Development by 2024
The
global coating resins market has reported a healthy growth in recent
times. The rapid rise in the global automotive industry has fueled
this market significantly. Rapid expansion of building and
construction industries will also boost the global coating resins
market over the period of 2014-2020.
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Report Overview @
The
global coating resins market is analyzed on the basis of types of
coating resins, their application, the technologies employed, and the
end users. Based on types, the market is segmented into the acrylics,
vinyl, unsaturated polyesters, alkyds, urethanes, epoxies, and amino
coating resins markets.
By
technology, the worldwide coating resins market is classified into
the markets for radiation cures/high solids, solvent-borne,
water-borne, powder, and hybrid coating markets. Architectural
coatings, adhesives, traffic paints, leather coatings, and industrial
and proactive coatings are the key application segments and the
automotive, building and construction, marine, electronics, and
furniture industries are the key end users of the global coating
resins market.
The
global coating resins market is also evaluated on the basis of its
regional distribution. North America, Asia Pacific, Europe, and the
Rest of the World are the major regional markets for coating resins.
This
research report on the global coating resins market presents an
in-depth study of the current as well as the historical performance
of this market. In addition, the research report analyzes the
competitive landscape prevalent in the global coating resins market
by profiling leading companies, key strategies, and upcoming projects
of the major companies operating in this global market.
Overview
of the Coating Resins Market
The
demand for coating resins from the automotive industry is driving the
global coating resins market. The infrastructural development in the
emerging economies has also stimulated the demand for coating resins
significantly.
Based
on types, acrylics emerged as the leading segment in the global
market for coating resins and the alkyds market stood at the second
position in 2013. However, the market for urethanes is likely to
register the fastest growth in the global arena over the forecast
period.
The
market for architectural coatings led the global coating resins
application market in 2013, but analysts expect the industrial and
proactive coatings market to report the highest development between
2014 and 2020. In addition, the building and construction industry is
poised to emerge as the biggest end user for coating resins during
the forecast period.
The
coating resins markets in North America and Asia Pacific regions has
witnessed the highest growth in recent times among other regional
markets. The rising number of strategic initiatives taken by both
the markets to efficiently capitalize on the existing opportunities
have triggered the growth in these markets. The Asia Pacific coating
resins market leads the global market at present.
The
future of the global coating resins market looks thriving. However,
the volatility of the raw material prices, coupled with the
availability of substitutes in abundance, is likely to hamper the
growth of this market during the forecast period.
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Companies
mentioned in the research report
The
major participants in the global market for coating resins are
Momentive Specialty Chemicals, Inc., Royal DSM N.V., Bayer AG, The
Valspar Corp., Nuplex Industries Ltd., The Dow Chemical Co., BASF SE,
Arkema S.A., PCCR USA Inc., Allnex Belgium SA/NV, Worldwide Resins &
Chemicals Sdn Bhd, PT. Inawan Chemtex Sukses Abadi, DIC Corp., Royal
Chemie Indonesia Tbk, Akzo Nobel N.V., PT. Citra Resins Ind., PT.
Diachem Resins Indonesia, and Eternal Resin Co. Ltd.
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