Acrylics, alkyds, amino, epoxies, vinyl, polyurethane, etc. are the different types of polymers that are used for coating applications but the broad categories are thermosets and thermoplastics . Acrylic resins were the largest product segment in the coating resins market in Asia Pacific in 2017. The escalated demands from the end-user segments such as architecture and automotive industry further resulted in the increase of these types of resins.
Coating Resins market is dominated by Architectural coatings section of the market currently. In 2017, the market share for architectural coatings was 46% and is projected to grow at a CAGR of 3.8% during the forecast period. The main driving factor for the market is the sudden rise in construction of residential and non-residential buildings.
The global market for coating resins was $33.5 billion in 2017 and is projected to grow at CAGR of 4.4% in the period 2018-2023. The market is expected to reach to $ 44.9 billion by the forecast period end.
What are Coating Resins?
Coating Resins are polymer compounds which are used as primary components in the manufacture of coatings and paints. These advanced materials act as protective layers for a wide variety of objects and are exclusively used to provide resistance from corrosion, hardness, weather and stain. Coating resins are formulated using a variety of techniques. The formulation may be water based or solvent based. The method chosen to synthesize the coating resin for a particular application depends upon its specifications such as location, base material, purpose for coating, etc. so that properties such as resin viscosity, color, adhesion and cohesion can be adjusted for efficient application.
What are the major applications for Coating Resins?
Resin coatings are the most preferred techniques of deploying protective coating layers across a variety of applications such as architecture, automotive, construction, machinery, marine, wood, paper and pulp coatings, wood and other industrial applications. Water-based polyurethane, water-based alkyd, water-based epoxy and water-based acrylic resin are mainly used in automobiles, containers and other industrial and anti-corrosion coatings.
Coating Resins are popularly known as resin binders in the paint industry. The synthetic resins are applied over wooden floors, concrete porches, metal surfaces, garages and decks and help in developing durable, polished, tough and aesthetically beautiful surfaces. Traffic Paints, textiles, food packaging also use coating resins for making durable and high quality products. Coating resins are further used in applications that include consumer electronics, industrial plastics, and packaging coatings and inks.
Market Research and Market Trends of Coating Resins Ecosystem
- Global coatings market is expected to become complex as formulators and resin manufacturers continuously research for changing performance, environmental and economic needs worldwide. Arkema is one of the leading coating resin producers and operates through multiple business units within serve the global coatings market. Arkema Coating Resins prepares solutions based on aqueous polymer emulsions, opacifiers, aqueous or solvent-based alkyds and acrylics, oil free polyester resins, polyester polyols, powder polyester resins, and additives for solvent-based systems. Coatex Rheology Modifiers, Technical Polymers, Arkema Acrylic Monomers, Bostik and Sartomer Photocure Resins are among other units which produce coating resins.
- To prevent air pollution National environmental standards have been introduced, also the VOC emission standards for the coating industry have also become increasingly stringent in recent years. Water-based coatings that have been extensively used in the high-end automotive field are now being widely applied in the fields of furniture and industrial coatings because of being ecofriendly and their compliance. There has been a shift from oil-based to water-based coating as the general trend.
- Electrolube provides an alternate solution to coating manufacturers it offers electro-chemical solutions, which include thermal management products, encapsulation resins, conformal coatings, contact lubricants and cleaning solutions. Electrolube has specialist products electro-chemicals which are new conformal coatings and encapsulation resins. Two brand new products include the 2K350 and 2K550 polyurethane coatings. 2K350 is opaque blue for ease of inspection and is a solvent-free coating. The UL94V-0 compliant coating is highly flexible and effectively combines the protection and properties of an encapsulation resin, with the ease of a coating application. HFAC is an additional product resently launched from Electrolube.
Who are the Major Players in Coating Resins market?
The players profiled in the report include Dow Chemical, Momentive Speciality Chemicals (Hexion), Royal DSM, BASF, Arkema, allnex, Cytec Coating Resins, Electrolube, Alberdingk Boley, Inc., Brenntag Specialties, Inc.
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