Albany, NY -- (SBWIRE) -- 09/27/2018 -- 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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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.