Coatings resins market expected to surpass US$97.5bn by 2035

17 April 2024

The coatings resins market size is expected to grow from its current value US$53.7bn to over US$97.3bn by 2035, growing at a CAGR of around 5.9% till 2035, according to research done by Market Research 365.

The coatings resins market plays a vital role in the global coatings and paints industry, encompassing a diverse range of materials that form the backbone of protective and decorative coatings. Coating resins are essential for enhancing the durability, adhesion and overall performance of coatings across various end-use sectors, including automotive, construction and industrial applications. As industries emphasise the need for high-quality, sustainable, and innovative coating solutions, the demand for coatings resins has been on the rise. Manufacturers within this market continually innovate to develop advanced resins that cater to specific coating requirements, reflecting the crucial role these materials play in enhancing the aesthetics, protection and longevity of coated surfaces.

Challenges and opportunities

The growth of urbanisation and infrastructure development drives the demand for protective coatings that withstand environmental and weathering challenges. Consumer preferences for aesthetically appealing and long-lasting products boost the adoption of high-performance coatings. Technological advancements in resin formulation, such as waterborne and eco-friendly options, align with sustainability goals and drive market growth.

Despite its positive trajectory, the coatings resins market faces certain challenges. Fluctuations in raw material prices and availability can impact production costs and pricing strategies. Meeting regulatory requirements and emissions standards for coatings resins may require additional research and development efforts. Economic downturns and reduced construction and automotive activities may influence market demand.

The evolving coatings industry landscape presents numerous opportunities for the coatings resins market. Collaborations with coatings manufacturers and end-users can lead to the development of customised resins that meet specific performance and application needs. Technological advancements in resin chemistry, such as UV-curable and powder coatings, create opportunities for innovative and sustainable coating solutions. Additionally, addressing emerging trends such as 3D printing and smart coatings opens avenues for market expansion.

The coatings resins market can be segmented based on resin type, technology and application. Resin types include acrylics, polyesters, epoxies, polyurethanes and alkyds, among others. Technology segments encompass solventborne, waterborne and powder coatings. Application divisions encompass automotive, architectural, industrial and decorative coatings.


Focus on resins: a leading offering for more sustainable coatings

Regulations and legislation

Government regulations and environmental standards significantly influence the coatings resins market. Regulations related to volatile organic compound (VOC) emissions, chemical safety and labeling impact the formulation and usage of coatings resins. Adherence to these regulations is essential for market entry and ensuring product compliance. Manufacturers must also consider regulations related to hazardous materials handling and waste disposal.

Competitive landscape

Competition within the coatings resins market arises from established chemical manufacturers and specialised coatings suppliers. Leading players often emphasise their expertise in resin performance, durability and compatibility with various coating formulations. Partnerships with coatings manufacturers, research institutions and industry associations are common strategies to gain market visibility. Continuous investment in research and development to enhance resin properties, application versatility and environmental compatibility remains pivotal for maintaining a competitive edge.

Strategic investments play a significant role in shaping the coatings resins market trajectory. Manufacturers invest in research and development to create advanced resins that offer improved durability, adhesion, and weather resistance. Investments in eco-friendly formulations and sustainable sourcing practices align with industry trends towards greener coatings solutions. Collaboration with coatings experts and end-users contributes to product validation and performance testing. Marketing efforts to educate the industry about the benefits of high-quality coatings resins for enhanced protection, aesthetics, and sustainability are essential for expanding market reach.

In conclusion, the coatings resins market stands as a linchpin of the coatings industry, enhancing the performance and aesthetics of various coated surfaces. As industries strive for protective and sustainable coating solutions, manufacturers’ strategic investments in resin innovation, formulation expertise and sustainability are driving the growth of coatings resins that align with evolving market demands. The market’s ability to adapt to changing regulations, technological advancements, and industry needs positions it as an indispensable contributor to enhancing durability, protection, and visual appeal in coatings applications.

Key operating players in the coatings resins market are Royal DSM, Hexion Inc, Allnex group, Bayer AG, BASF SE, Evonik Industries AG, The Dow Chemical Company, Polynt SpA, Arkema Group, The Sherwin-Williams Company (The Valspar Corporation).


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