Product ID: SQSG15B2003
Global Coating Resins Market Size, Share, Growth Analysis, By Resins(Acrylic, Alkyd), By Formulating Technology(Water-based, Solvent-based), By End-Use Industry(Architectural Coatings, General Industrial Coatings) - Industry Forecast 2024-2031
Report ID:
SQSG15B2003 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
100 |
Figures:
76
Global Coating Resins Market Dynamics
Coating Resins Market Driver
Increasing Use of Liquid and Bio-based Epoxy Resin
- Epoxy resins are also extensively utilized in powder coatings. Nowadays, the creation of formulations with high and ultra-high solid contents utilizing liquid epoxy resin is becoming more and more common. Waterborne epoxy resin technology's performance has improved, permitting more utilization. Due to the heavy reliance on metal coatings, only a small portion of technology was really attained. Recent years have seen a sharp increase in research and development efforts to create bio-based polymers as a result of rising environmental, economic, and resource-related concerns as well as the uncertainty that comes with a finite supply of petrochemicals. Manufacturers are attempting to replace petroleum-based materials with polymers made from naturally occurring feedstocks in order to meet the industry's need for environmentally friendly processes and products that support sustainable growth.
Coating Resins Market Restraint
Increasing Number of Stringent Regulations on VOC
- Globally, almost every type of end-use coating uses alkyds in some capacity. However, as VOC restrictions continue to decrease, the usage of alkyd resins is rapidly declining, especially in North America and Europe. For formulations that are water-based and include larger solids, the market has shifted to different resin types. The market is seeing the introduction of innovative water-based alkyd systems, in part because of the growing demand for resins made with a larger percentage of renewable resources. The earliest alkyds made were solvent-based, but the excessive amounts of solvents in these coatings proved to be bad for both the environment and human health. The coatings industry is under a lot of pressure to lower the VOC content of solvent-based coatings as a result of tougher VOC restrictions. Due to their high VOC content, solvent-based alkyd coatings have seen a decline in market share in favor of rival technologies including water-borne, powder, and UV-curable coatings. In order to meet the strict VOC requirements and maintain outstanding efficiency for these coatings to regain market share, it is crucial to reduce their VOC levels.
Global Coating Resins Market Report Snapshots
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