Global Coatings Raw Materials Market 2019-2023
About this market
The increasing preference for water-based ink technology has been a major driving factor for the market’s growth. Coatings raw materials such as resins, solvents, pigment and fillers, and binders are used in the printing industry to make printing inks, especially black ink, which exhibits good dispersibility properties for plastic film and molding applications. The presence of these raw materials in printing inks improves smoothness, enhances gloss, and augments scratch resistance. Therefore, the growing production of printing inks will drive demand for coatings raw materials during the forecast period. Technavio’s market research analysts have predicted that the coatings raw materials market will register a CAGR of more than 4% by 2023.
Increasing demand for alkyd resins in paints and coatings
Alkyd resins are polyester- based materials that are usually modified with oil or fatty acids. Alkyd resins are used to manufacture protective coatings as they can significantly enhance the weathering properties to protective coating.
Stringent VOC regulations
VOC’s are chemicals that vaporize at room temperature to cause ground- level air pollution. In countries such as US, stringent regulations are in place on the use of paints and coatings that harm the environment. Such regulations in the use of VOC;’s will have a negative impact in the market.
For the detailed list of factors that will drive and challenge the growth of the coatings raw materials market during the 2019-2023, view our report.
The coatings raw materials market is fragmented owing to the presence of several established and regional vendors. Factors such as the advances in water-based ink technology are supporting the market’s growth. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies
Technavio Announces the Publication of its Research Report – Global Coatings Raw Materials Market 2019-2023
Technavio recognizes the following companies as the key players in the coatings raw materials market: Akzo Nobel, Arkema, BASF, DowDuPont, Eastman Chemical Company, Evonik Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing production of printing inks will drive demand for coatings raw materials during the period under review.”
According to the report, one of the major drivers for this market is the increasing demand for alkyd in paints and coatings.
Further, the report states that one of the major factors hindering the growth of this market is the fluctuating oil prices have compelled vendors to adopt various cost- cutting measures, which can negatively impact the global coatings raw material market.
Eastman Chemical Company
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