The analysts forecast global coating resins market to grow at a CAGR of 5.79% during the period 2018-2022. One trend in the market is increase in R&D activities.
Major polyurethane players have amplified their expenditure in R&D activities to reduce the manufacturing cost and provide products with improved properties and use.
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The rising expenditure in R&D is a major trend being observed by the global polyurethane market in the recent years. Therefore, to maintain a competitive edge and market share, the manufacturers have been stressing on new inventions and developments.
Major key players in the global coating resins market: Arkema, BASF, DowDuPont, DSM, Hexion, and Nuplex Industries.
According to the coating resins market report, one driver in the market is increasing demand for protective coating due to corrosion. Corrosion is the process of degradation and breakdown of metal.
It is estimated that the total cost burden due to corrosion reached $2.51 trillion in 2016, which accounted for almost 3.5% of the global GDP. The increase in the demand for coating resins in the Americas owing to the corrosion effect experienced by machinery and materials is expected to drive the growth of the market.
Further, the coating resins market report states that one challenge in the market is increasing raw material prices of epoxy resin. The price of epoxy resins has been a concern for numerous industries over the last decade.
Alternatively, the production of Bisphenol A and novolac resins is still very low. These fibers are largely used as composites, coatings, and adhesives in various end-user industries such as construction, automotive, and marine.
Key questions answered in this report:
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
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Few Points from List of Exhibits:
Exhibit 1: Resin by types
Exhibit 2: Related market
Exhibit 3: Market characteristics
Exhibit 4: Market segments
Exhibit 5: Market definition - Inclusions and exclusions checklist
Exhibit 6: Market size 2017
Exhibit 7: Validation techniques employed for market sizing 2017
Exhibit 8: Global coating resins market Market size and forecast 2017-2022 ($ mn)
Exhibit 9: Global coating resins market Year-over-year growth 2018-2022 (%)
Exhibit 10: Five forces analysis 2017
Exhibit 11: Five forces analysis 2022
Exhibit 12: Bargaining power of buyers
Exhibit 13: Bargaining power of suppliers
Exhibit 14: Threat of new entrants
Exhibit 15: Threat of substitutes
Exhibit 16: Threat of rivalry
Exhibit 17: Market condition - Five forces 2017
Exhibit 18: Global coating resins market by application Market share 2017-2022 (%)
Exhibit 19: Comparison by application
Exhibit 20: Architectural coatings Market size and forecast 2017-2022 ($ mn)