San Francisco, California, New York, May 25, 2017: A new market research report by TMR Research, titled, “Protective Coating Resins Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” presents a thorough overview of the global market. Analyzing the market for developmental trends of the past, the report also presents a forecast of the state of the market from 2017 to 2025.
Some of the current prominent trends in the global protective coating resins market is the rise of more sustainable solutions on account of the varied need of end users and strict regulatory norms. For example, the demand for cost-effective protective coating resins having greater durability, anti-fouling properties, and resistance to corrosion has been soaring. Unveiling of similar cutting-edge protective coating resins has been stoking growth in the market by generating demand. Increasing thrust on volatile organic compounds-free and environmental friendly protective coating resins is slated to create new growth avenues in the next few years.
Majorly fuelling the market is the widespread use of protective coating resins across a range of industries. The booming construction industry and the ever-increasing pace of infrastructure building, for instance, are at the forefront of driving demand in the market. Demand for longer life of devices and equipment and effective processes are also predicted to catalyze growth in the market in the upcoming years.
Posing headwinds to the global protective coatings resins market is the emergence of alternative products that are relatively cheaper and also the increasing prices of raw materials.
The different types of protective coating resins available in the market are epoxy, acrylics, polyester, alkyd, and polyurethane. Among them, the epoxy protective coating resins are poised to see maximum uptake due to their excellent customizable properties and easy application and removal processes.
Some of the key end users in the global coatings resins market are automotive, energy and power, electronics, mining, pulp and paper, aerospace, oil and gas, marine, petrochemical, and transportation. Among them, the industrial application segment might clock considerable growth between 2017 and 2025 on account the rising use of protective coating resins in industrial equipment and machinery.
From a geographical perspective, emerging economies across Asia Pacific such as China will be key drivers of the market. The swift pace of industrialization, construction, and infrastructure building in China and elsewhere is generating significant demand for protective coating resins. The North America market is also a crucial one.
Some of the prominent names operating in the global protective coating resins market are Sika AG, Arkema SA, Wacker Chemie AG, Akzonobel N.V., the Valspar Corporation, Axalta Coating Systems, PPG Industries, and the Sherwin-Williams Company.