07-Oct-2022 | Facts and Factors
According to Facts and Factors, the global protective coating resins market size was worth USD 16,283.4 million in 2021 and is estimated to grow to USD 18,445.89 million by 2028, with a compound annual growth rate (CAGR) of approximately 2.10% over the forecast period. The report analyzes the protective coating resins market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the protective coating resins market.
Protective coating resins are polymer compounds that are utilized in the manufacture of coatings as primary compounds. This coating provides a protective layer against corrosion, weather, and stains. The main application areas of coating resins are paints & coatings, wood coating resins, and powder coating resins. They are the most desired method of deploying protective coating layers in various applications, such as architectural, automotive, construction, machinery, marine, wood, paper & pulp coatings, and other industrial uses. Water-based polyurethane, alkyd, epoxy, and acrylic resin are most commonly developed in autos, containers, and other industrial and anti-corrosion coatings. In the paint industry, coating resins are commonly mentioned as resin binders. Synthetic resins are used on wooden floors, concrete porches, metal surfaces, garages, and decks to generate long-lasting, polished, tough, and visually pleasing surfaces. Protective coating resins are also utilized in traffic paints, fabrics, and food packaging to produce long-lasting products. Protective coating resins are also used in consumer electronics, industrial plastics, packaging coatings, and inks.
Browse the full “Protective Coating Resins Market Size, Share, Growth Analysis Report By Product Type (Acrylic, Epoxy, Polyurethane, Alkyd, Polyester, Others), By End-User (Infrastructure & Construction, Oil & Gas, Aerospace, Marine, Automotive, Power Generation, Mining, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/protective-coating-resins-market
Implementation of stringent environmental regulations towards utilizing eco-friendly coating is the factor that drives the demand for the global protective coating resins market. Protective and industrial coatings cover the huge surfaces that have been touched, leaned against, and walked past in our daily lives. Less awareness of this is that some of these coatings utilize solvents that release volatile organic compounds (VOCs), polluting the air humans breathe. Switching to eco-friendly waterborne coatings is, therefore, a major factor in the coatings market, and providing the products that can ease these alternative formulations – while providing better functionality and improved performance – is one of the many ways in which it is actively contributing to building a more environmentally friendly planet.
The global protective coating resins market is segregated based on product type, end-user, and region. Based on product type, the market is divided into acrylic, epoxy, polyurethane, alkyd, polyester, and others. Among these, the acrylic segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on end-user, the market is classified into infrastructure & construction, oil & gas, aerospace, marine, automotive, power generation, mining, and others. The infrastructure & construction segment dominated the market in 2021.
The global protective coating resins market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia-Pacific dominated the protective coating resin market, owing to high demand from China and India in 2021. China is the largest market for protective coating resins, with the highest demand coming from the marine industry. Additionally, the Indian government has launched numerous investment promotion initiatives to help infrastructure and construction projects, which is expected to assist further growth in the regional protective coating resin market. Improving the economy along with extended demand from infrastructure & construction, oil & gas, marine, and automotive industries are expected to increase the market for protective coating resin in Asia-Pacific.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 16,283.4 Million |
Projected Market Size in 2028 |
USD 18,445.89 Million |
CAGR Growth Rate |
2.10% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Akzo Nobel, Axalta Coatings systems, RPM International, Dow Chemical Company, Sherwin-Williams Company, Arkema Group, Allnex Group, Hempel, Jotun, Sika, PPG Industries, Wacker Chemie., and others. |
Key Segment |
By Product Type, End-User, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key global protective coating resins market players include Akzo Nobel, Axalta Coatings systems, RPM International, Dow Chemical Company, Sherwin-Williams Company, Arkema Group, Allnex Group, Hempel, Jotun, Sika, PPG Industries, and Wacker Chemie.
Recent Development:
- December 2019: Jotun has signed a joint venture with the leading shipment company of Hong Kong, i.e., COSCO shipping. This venture provides mutual value to both parties. The company ties up with Jotun's creative, high-performance coatings technology with the infrastructure, industry, and expertise. In contrast, Jotun will have the advantage of the COSCO valued reputation in China's key market.
Global Protective Coating Resins Market is segmented as follows:
By Product Type
- Acrylic
- Epoxy
- Polyurethane
- Alkyd
- Polyester
- Others
By End-User
- Infrastructure and Construction
- Oil and Gas
- Aerospace
- Marine
- Automotive
- Power Generation
- Mining
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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