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Coating resins, also known as binders, are polymer materials that hold a coating formulation together and provide adhesion to the substrate on which the coating is applied. Coating resins are polymers or polymer latex. A typical liquid coating formulation consists of several other components such as pigments, additives, and solvents. Coating resins bind the entire coating system together. Powder coating systems have a similar composition, except for the presence of solvents. The products of coating resins are used in an extensive range of applications:
• Architectural coating
• Powder coatings
• Construction products
• Marine & Protective Coatings
• Industrial and protective coatings
• Adhesives
• Packaging Coatings
Growing green, environmentally-friendly, and healthier coating systems, durable coatings with better performance and aesthetics and advancement in technology are some of the factors driving the coating resins market. Furthermore, lower price and efficiency in use is also the major factor driving the coating resins market. However, volatility in raw material prices is hampering the coating resins market globally.
Based on geography, the market is segmented into Asia-Pacific, North America, Europe and RoW. Asia Pacific region accounted for the largest market share in global coating resins market. Because the countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing remarkable surge in the usage of coating resins in the construction activity and rise in the number of automobiles, and wooden furniture are propelling the growth of the coating resins market.
The resin type studied in the report are acrylic resin, alkyd resin, amino resin, epoxy resin, polyurethane resin, saturated polyester resin, unsaturated polyester resin, vinyl resin and other coating resins. Acrylic is a low cost material which is used in diverse applications for water and chemical resistance, improved adhesion and blocking, and better blistering. It finds widespread usage in numerous industrial processes such as which include injection molding, compression molding, or extrusion.
The technologies used in producing coating resins are high solids coatings, powder coatings, radiation curable coatings, solvent-borne coatings, waterborne coatings and others. Among these, the powder coatings technology is mostly used in appliance finishing, automotive, architectural & building industries and outdoor furniture manufacturing. The major factors propelling the growth this segment is the rising stringent environmental regulations for zero or non-VOC coatings.
Various applications of coating resins are architectural coatings, automotive coatings, general industrial coatings, marine & protective coatings, packaging coatings, wood coatings and others. Coating resins are extensively used in architectural coatings, owing to the increase in consciousness about environmentally-friendly products and green environmental regulations, growing construction activities globally and rise in the popularity of tilt-up concrete in the architectural industry.
The global coating resins market is led by key companies such as Alberdingk Boley Gmbh, Allnex Netherlands B.V., Arkema S.A., BASF SE, Covestro, Dic Corporation, Dowdupont Inc., Eternal Chemical Co. Ltd., Evonik Industries AG, Huntsman International LLC., Jiangsu Sanmu Group Corporation, Nippon Gohsei, Perstorp Holding Ab, Polynt-Reichhold, Royal DSM N.V., The Sherwin-Williams Company and Wacker Chemie. Foremost companies have invested huge capital in mergers & acquisitions and research & development activities to develop advanced products in the market.
• February 2019: Arkema opens new powder coating resins unit in India. The Navi Mumbai facility significantly extends company’s global footprint for this product and allows to better meet local demand in India and Southeast Asia.
• April 2016, Arkema increased capacity of its powder coating resins manufacturing facility in North Kansas City, US by approximately 35 percent. This facility supplies polyester powder coating resins to the American market under its brand name REAFREE.
The coating resins market is categorised into resin type, technology, application and geography. The resin type studied in the report are acrylic resin, alkyd resin, amino resin, epoxy resin, polyurethane resin, saturated polyester resin, unsaturated polyester resin, vinyl resin and other coating resins. Furthermore, the technologies used in producing coating resins are high solids coatings, powder coatings, radiation curable coatings, solvent-borne coatings, waterborne coatings and others. Various applications of coating resins are architectural coatings, automotive coatings, general industrial coatings, marine & protective coatings, packaging coatings, wood coatings and others.
Based on geography, the market is segmented into Asia-Pacific, North America, Europe and RoW. Asia Pacific region accounted for the largest market share in global coating resins market. Because the countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing remarkable surge in the usage of coating resins in the construction activity and rise in the number of automobiles, and wooden furniture are propelling the growth of the coating resins market.
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