San Francisco, California, August 30, 2018: The global protective coating resins market is envisaged to witness a surge in its demand during the forecast period due to the need for coating resins in the infrastructure and construction industries, notices TMR in their report titled, “Protective Coating Resins Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”. Requirement for protective coating resins with anti-fouling properties, corrosion resistance, cost-effectiveness, and higher durability is promoting the growth of the market.
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Rise in construction activities across the developing countries has portrayed the rise in demand for protective coating resins. Demand for longer life of devices and equipment and efficient techniques are predicted to gain momentum for the growth of the global protective coating resins market during the forecast period. Innovation of newer products which are cost-effective according the strict environmental regulation accompanied with the surging price of raw material and energy is likely to deter the growth of the market. However, protective coating resins finds its use in various industries such as oil and gas, energy and power, infrastructure and construction, automotive, aerospace, electronics, petrochemical, marine, pulp and paper, and transportation. Amongst these the industrial application can be seen to boost the growth of the market. Requirement for environmental friendly and volatile organic compounds-free protective coating resins is likely to boost the growth of the market in the years to come.
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Geographically, the global protective coating resins market is spread across Middle East and Africa, Asia Pacific, Europe, Latin America, and North America. Amongst the pack Asia Pacific market is likely to hold a lion’s share due to rapid development of some countries in the region accompanied with rise in need of protective coating resins market in various industries such as automotive, oil and gas, infrastructure, and marine. Major contributor in the region is China. Large number of manufacturing unit in this country is helping Asia-Pacific region to stay ahead.