Coating Resins Market to Rise in Demand for Paints & Coatings Products | 2026

Posted by ROSHAN KHACHANE on June 13th, 2019

Coating resins, also known as binders, are polymer materials that hold a coating formulation together and provide adhesion to the substrate on which the coating is applied. Coating resins are polymers or polymer latex. A typical liquid coating formulation consists of several other components such as pigments, additives, and solvents. Coating resins bind the entire coating system together. Powder coating systems have similar composition, except for the presence of solvents. The coating resins market is estimated to expand at a moderate pace during the forecast period, led by the rise in consumption of paints and coatings across the globe due to the expansion in end-use industries.

Based on type, the global coating resins market has been segmented into epoxy, polyurethane, alkyd, acrylic, vinyl, amino, polyester and others (polyaspartics, silicones, and fluoropolymers). The acrylic segment dominated the global coating resins market in 2017. The segment is estimated to expand at a significant pace during the forecast period. Acrylic coatings are used in diverse forms. They can be formulated by water and solvent-based technology and are extensively employed in architectural coatings. Market share of the alkyd segment is estimated to decline during the forecast period owing to the high VOC content of coatings formulated using alkyd resins.

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Based on technology, the global coating resins market has been divided into solvent-based, water-based, high solids, UV cured, and others (including powder coatings). The solvent-based segment constituted the dominant share of the global coating resins market in 2017. The water-based segment is projected to expand most rapidly during the forecast period owing to their low VOC content and stringent regulations on VOC emissions in coating products across the globe.

Based on application, the global coating resins market has been segregated into architectural coatings, industrial coatings, automotive coatings, wood coatings, protective & marine coatings, and others (including can coatings and leather coatings). In terms of demand, the architectural coatings segment held the dominant share of the coating resins market in 2017. This can be ascribed to the prominent use of paints and coatings for decorative purposes. The architectural coatings segment is anticipated to expand at a steady pace during the forecast period due to the stable growth in global construction and infrastructure industries. Rise in demand for automotive coatings and increase in automotive sales are boosting the consumption of coating resins in the automotive coatings segment.

Based on region, the global coating resins market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of value and volume, Asia Pacific was the leading region of the coating resins market in 2017. Asia Pacific is also a key manufacturer of paints and coating products, which extensively utilize coating resins. The coating resins market in Asia Pacific is likely to expand at a rapid pace in the next few years due to the rapid increase in consumption of paints and coatings in the region. In terms of demand, North America and Europe were the other prominent consumers of coating resins in 2017. The paints and coatings industry in these regions is vast and mature. The coatings resins market in Europe and North America is estimated to expand at a sluggish pace due to the mature nature of end-user industries. The coating resins market in Latin America and Middle East & Africa is anticipated to expand at a considerable pace during the forecast period.

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