A new market study, titled “Discover Global Coating Resins Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Coating resins are vastly used in the market to provide a protective layer on top of any surface. It can come in various shades and help in decorating and protecting as well. Coating resins have become a standard practice in many industries because it helps in building durability to any product. The global coating resin market is growing due to the expansion of its usage in different industrial sectors. There are several types of coating resins. Some are waterborne coating, solvent-borne coating, powder coating, high solid coating, radiation-curable coating, and many others.
These resin coatings are used in several industries, such as marine – where the ships and containers are painted to protect them from saltwater. It is used in factories and structural frames, as a regular part of maintenance due to its protective nature from rusting. Automotive, transportation and architectural industries are also hugely benefitted from the coating resin market. The global market for coating resin is growing rapidly due to its acceptance as a protective medium worldwide. Different color shades of coating resin helps in building attractive architectural or interior products that have a growing market value.
The growth of the market for coating resin is hindered with presence of several organic compounds, which are used in making the products. It has an adverse effect on the environment. Hence, stringent governmental regulations are in place to restrict these products from being used in the industries. UV ray or electron beam cured coating resins are becoming a viable alternative, as it has lesser environmental effect.
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Key Players of Global Coating Resins Market =>
The global market for coating resin is diverse due to its application and technology behind it. Different application involves different technologies. Hence, in-depth knowledge is crucial in determining the correct product. Also, precise product knowledge helps in understanding the market and its opportunities. The market is segmented based on its resin type, technology and application. Acrylic, alkyd, vinyl, polyurethane, epoxy, amino and others are covered under resin type. Water-based, solvent-based, powder, high solids, radiation-curable and others are technologies covered under this segment. Architectural, Marine, General industrial, automotive, wood, packaging and other sectors are covered under application segment.
The global market report for coating resin can profit from analysis on the base of geographical locations. Hence, the regional analysis is very crucial in understanding market dynamics. North American and European market is growing due to the increasing use of coating resin in industrial, automotive, marine and architectural application. Asia Pacific (APAC) market is also contributing to the growth with booming industries. Marine and automotive industries are also showing growth rates. The Middle East and Africa (MEA) are also contributing to the advancement in industrial segments.
Rising industrial applications have forced manufacturers to invest in the coating resin market to roll out new and better products. Technical collaboration and merger are fast becoming synonymous with development in the product portfolio. For instance, in November 2019, Talga Resources announced the commercial-scale trial of their new product, a graphene-enhanced coating, applied on a 33,000-tonne container ship.
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