Global Protective Coating Resins Market: Snapshot
The growing expectations of end users, coupled with the need for compliance with stringent regulatory frameworks, have resulted in the emergence of more sustainable solutions in the protective coating resins market. Currently, the demand for protective coatings resins with higher durability, anti-fouling properties, corrosion resistance, and cost-effectiveness is gaining traction. The development of advanced protective coating resins has not only been a key growth strategy of several manufacturers, but has also been fundamental to the growth of the market.
For instance, in April 2017, Momentive Performance Materials Inc. announced the launch of its new non-isocyanate silylated polyurethane resin, which eliminates the necessity of a primer for attaining adhesion. With exceptional impact resistance and flexibility, this new resin also offers superior gloss values and low yellowing properties, promising further expansion of the market.
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By type, the global market for protective coating resins can be segmented into epoxy, polyester, alkyd, polyurethane, and acrylics. Of these, epoxy protective coating resins might emerge as the leading segment of the global market, thanks to their exceptional customizable properties and convenient application and removal advantages.
By end user, energy and power, mining, oil and gas, automotive, infrastructure and construction, marine, petrochemical, electronics, aerospace, transportation, and pulp and paper can be the key segments of the global market for protective coating resins. The industrial application segment might register the highest growth during the forecast period 2017-2025. Increasing deployment of protective coating resins in industrial equipment and machinery due to their effective protective qualities that enable them to function in harsh environments has been ensuring the advancement of the market.
Global Protective Coating Resins Market: Overview
The global protective coating resins market has been gaining immense popularity, owing to its increasing use across diverse industries. The growing demand for volatile organic compounds-free and environmental friendly protective coating resins is anticipated to create promising opportunities in the next few years.
The global market for protective coating resins is anticipated to register a progressive growth rate throughout the forecast period. The research study offers a detailed overview of the market, emphasizing on the major factors that are likely to impact the growth of the market in the next few years. The key segmentation, technological developments, applications, and the geographical segmentation of the market have been included in the research study.
Global Protective Coating Resins Market: Drivers and Restraints
The tremendously rising demand for protective coating resins in the construction and infrastructure industries is considered as one of the key factors projected to encourage the growth of the global market in the forecast period. In addition, the growing need for longer life of devices and equipment and efficient processes are anticipated to accelerate the growth of the global protective coating resins market in the next few years.
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On the flip side, the development of new products that are cost-effective according to the stringent environmental regulations and the rising prices of energy and raw materials are some of the aspects expected to hamper the growth of the overall market in the coming years. Nonetheless, the emergence of new products to expand their application base of protective coating resins and the growing demand for the maintenance of existing substrates are predicted to supplement the growth of the market in the near future.
Global Protective Coating Resins Market: Region-wise Outlook
From a geographical lookout, the global market for protective coating resins has been categorized into North America, Asia Pacific, Europe, and the Rest of the World. As per the research study, the Asia Pacific market for protective coating resins is anticipated to lead the global market throughout the forecast period. The robust development of economic conditions in several emerging nations and the rising demand across diverse industries, such as oil and gas, construction and infrastructure, automotive, and marine are some of the factors encouraging the growth of the Asia Pacific market.
According to the research report, the Asia Pacific protective coating resins market is anticipated to account for a key share of the overall market, followed by North America. The high growth of this regional segment can be attributed to the increasing contribution from China, thanks to the presence of a large number of manufacturing units in this nation. Furthermore, the estimated growth rate and share of each segment have been mentioned in the scope of the research report to offer a clear picture of the global market.
Key Players Mentioned in the Research Report are:
Some of the prominent players operating in the protective coating resins market across the globe are Arkema SA, Hempel A/S, Sika AG, Wacker Chemie AG, Akzonobel N.V., Axalta Coating Systems, PPG Industries, The Sherwin-Williams Company, The Valspar Corporation, and RPM International Inc. These players are emphasizing on new product development, innovations, and mergers and acquisitions in order to expand their business prospects and achieve a leading position in the global market.
The research study further provides a thorough overview of the competitive landscape of the global protective coating resins market, including information related to the company profiles, product portfolio, SWOT analysis, financial status, and latest developments. Moreover, the business strategies and marketing tactics that are being used by the leading players in order to enhance their product and services have been included in the scope of the study.
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