Protective Coating Resins Market

Protective Coating Resins Market Size (2023-2028)

The protective coating resins market was around USD 21.62 Billion by revenue, at the end of 2022 and is expected to grow at a CAGR of 6.42 % to reach close to USD 25.24 Billion in the forecast period between 2023-2028

Protective Coating Resins Market Drivers and Restraints:

The global market is mainly driven by the demand for epoxy resin in various applications and from numerous end-user industries.

Market Segmentation:

Protective Coating Resins Market By Type

•  Epoxy

• Alkyd

• Acrylic

• Polyurethane

Among the mentioned types of resins, epoxy resin is estimated to be the largest segment in the global market and is expected to have the fastest growth rate in the forecast period. The growth is mainly attributed to the demand for an epoxy resin over other kinds of resins from many end-user industries for various applications.

Protective Coating Resins Market By Formulation

• Solvent-borne

• Water-borne

• Powder

solvent-based resin is the largest and is expected to have the fastest growth rate in the proposed forecast period. The growth is mainly attributed to the hydrophobic nature of these kinds of resins, which makes them widely acceptable in numerous applications.

Protective Coating Resins Market By End-Use Industry

• Industrial, Oil & Gas

• Marine

• Automotive

• Mining

PROTECTIVE COATING RESINS MARKET REPORT COVERAGE:

Protective Coating Resins Market Regional Analysis:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• The Middle East and Africa 

The Asia Pacific region holds the largest share of the Global Market in the year 2018, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the global market. 

North America is next in the lead of the Global Protective Coating Resins Market by both value and bulk, as of 2018. The situation of most of the key players in the global market in North America is the main reason for its market position. This region has the second-fastest growth rate on a global scale. This region is the third fastest-growing region in the global market in the projected forecast period. 

Recent Developments:

Wessex, a major resin & adhesives-based company, has announced to launch of their new online store for ordering a unique range of bio-based epoxy, in Europe. This is expected to bring some dynamic shift to the protective coating resins market in this region.

Protective Coating Resins Market Key Market Players:

1. Dow Chemical Company (US)
2. The Valspar Corporation (US)
3. Royal DSM (Netherlands)
4. Allnex Belgium SA/Nv (Belgium)
5. Bayer AG (Germany)
6. BASF SE (Germany)
7. Evonik Industries AG. (Germany)
8. Arkema S.A. (France)
9. Hexion Inc. (US)
10. Polynt SpA. (Italy)