Resins in Paints and Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Resins in Paints and Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for resins in paints and coatings is expected to grow at a CAGR of more than 4.5% during the forecast period. One of the major factors driving the market studied is the increasing construction activities in Asia-Pacific.

Key Highlights

• On the flipside, fluctuation in demand due to competition from other industries using Resin is likely to hinder the market.
• The advent of environment-friendly resins is projected to offer numerous opportunities for the manufacturers thourgh the forecast period.
• Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.

Key Market TrendsAcrylic-Based Resins to Dominate the Market

• Acrylic-based resins are thermoplastic resins produced by the polymerization of acrylate or methacrylate monomers.
• Various acrylic resins can also contain vinyl monomers, such as styrene or vinyl acetate, to reduce cost.
• These resins provide resistance to hydrolysis, good weather resistance, excellent gloss, and color retention, particularly for exterior applications. They also have certain other properties such as transparency, UV resistance, and the high color ability for coating solutions.
• Acrylic resins find application in solvent-borne paints. Products made by solution polymerization can also lead to the formulation of water-borne acrylic dispersions and powder coatings for architectural applications.
• The solvent-borne coatings made of acrylic resins are extensively used in paints that form films by crosslinking.
• These resins are used in water-borne systems to reduce VOC emission. High surface hardness can be achieved with the application of these acrylic resins.
• They are used in various applications, such as walls, roofs, and decks, where acrylic coatings are used to provide elastomeric finishes so as to improve the UV resistance of the surface.
• The main application of acrylic coatings is found in the construction industry, for high-finishing in rods, bridges, floors, decks, and others. Other applications of acrylic-based paints and coatings include marine vessels & structures, electrical products, machinery, and other metal products.
• The water-based coatings are likely to dominate the market based on acrylic resins, owing to fewer environmental concerns, such as VOC emission, which affect the air quality.

China to Dominate the Asia-Pacific Region

• China continues to dominate in demand for market studied globally powered with its huge production base for paints and coatings, which has more than 1/3 of global production share.
• The annual paint production of the country has rocketed from 17.6 million tons in 2018 to nearly 18.6 million tons in 2019.
• According to European coatings, there are nearly 10,000 coatings manufacturers located in China. The Chinese paints & coatings production has been showing steady growth in the recent years.
• While China is home to a great number of companies producing paints and coatings, foreign companies and joint ventures hold a fair share of the market. In addition, many of the international players are looking to further strengthen their position by new acquisitions.
• China’s real estate sector has been growing rapidly with increased investment by the government. The growth in construction is expected to positively affect the paints and coatings market in the country..
• China accounts for almost 40% of the global furniture production. The production is further increased at a rapid rate, owing to the rising domestic demand, coupled with increasing export to European countries.
• The number of packaged cans in China is likely to expand by more 6% in the next few years. Additionally, major beverage-can manufacturer, such as Crown Holdings is likely to expand the beverage can production capacity in the country to meet the rapidly growing demand.
• However, the COVID-19 has presented a problematic situation for resins in paints and coatings market in the country in the early 2020. However, the conditions got better now which concreted the probability of market recovery over the forecast period.

Competitive Landscape

The global resins in paints and coatings market is fully fragmented in nature with the presence of numerous players, each accounting for an insignificant share in the market. The major companies in the market include Arkema Group, BASF SE, Dow, Evonik Industries AG, and DSM, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Arkema Group
BASF SE
ALLNEX NETHERLANDS B.V.
Dow
Hexion
Evonik Industries AG
DSM
Mitsui Chemicals, Inc.
Mitsubishi Shoji Chemical Corporation
Uniform Synthetics
Vil Resins
HELIOS
Huntsman International LLC
Wanhua Chemical Group Co.,Ltd.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.