Resins are synthetic polymers which are put to use across a wide range of end-user verticals owing to their adhesive, reactive and film-forming properties. These are generally composed of a mixture of a variety of substances and are widely manufactured, especially for commercial purposes. Resins are a crucial part in the manufacture of many every-day products. These resins have revealed many promising applications over a broad range of industries. Features such as high strength, high performance, durability and unique design properties have propelled the use of these resins across a wide variety of industries.
The field of resins has undergone a lot of research and development in the previous years and vast extensive continuous innovations and research and significant improvements in the manufacture of eco-friendly products and processes have propelled the global resins market. The overall Global Resin market can be segmented based on types, applications, end user industries and geography.
The global Resin market revenue is expected to grow from $Xx billion in 2015, to $Xx billion in 2021, at an estimated CAGR of Xx% from 2015 to 2021. The Resin market is governed by the major players like Eastman Chemical Company, Royal DSM, SIKA Deutschland GmbH, among others. The European region is expected to rejuvenate the Resin market owing to the escalated demands of Resins from the Automotive, Civil engineering industries.
Europe is the leading market for Resin in 2015 followed by Americas. The APAC region is forecast to exhibit high growth of Xx% CAGR through 2021 to reach $Xxx billion. In ROW region the expansion of the automotive sector especially in the high end cars segment are likely to propel the market for Resin in the region. The market is projected to grow at CAGR of Xx% to expected reach $Xxx billion by 2021. The global demand for Resins is growing at good pace over the years, owing to the increasing demand from end user applications such as solvent based coatings, powder coatings, UV coatings and so on.
Companies such as United Resin Corporation and Plastics Color Corporation have fostered their Resin portfolio to cater a wide range of applications across all the industrial verticals. The report is segmented based on product types, applications, end use verticals and geographic regions. The market share analysis, strategies and future opportunities are also discussed in the report. The service market has been aiding the market in earning significant revenues apart from the hardware and software sales, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance.