The global coatings raw materials market size is expected to grow by 9.19 million tons during 2020-2024, progressing at a CAGR of almost 5% during the forecast period.
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Technavio has announced its latest market research report titled Global Coatings Raw Materials Market 2020-2024 (Graphic: Business Wire)
The use of alkyd resins in paints and coatings is one of the major factors propelling market growth. However, factors such as fluctuating crude oil prices will hamper market growth.
Alkyd resins are used to manufacture protective coatings as they can significantly enhance the weathering properties of protective coatings. These resins are among the key raw materials used to make various synthetic paints and coatings as they are exceptionally compatible with a wide range of coating polymers. They are also used to manufacture industrial coatings, concrete floors, and road paints. The volume of the global alkyd resin market stood at 1,413 thousand metric tons in 2018. With the increasing demand for alkyd resins in paints and coatings for various applications, the coatings raw materials market is expected to record significant growth during the forecast period.
More details: www.technavio.com/report/coatings-raw-materials-market-industry-analysis
Global Coatings Raw Materials Market: Type Landscape
Globally, acrylic resins are the most commonly used binders in paints and coatings applications. Acrylic resins are used in decorative paints, which include all acrylics (pure and modified) forms. Alkyds resins are the second-most common type of resin used in the formulation of coatings. In recent years, high solid and ultra-high solid-liquid epoxy resins have dominated the global market. Therefore, the coatings raw materials market growth by the resins segment will be significant during the forecast period.
Global Coatings Raw Materials Market: Geographic Landscape
APAC was the largest coatings raw materials market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as rapid industrialization, a growing construction industry, and burgeoning automotive industry in countries such as China, India, Malaysia, Indonesia, Vietnam, Japan, and South Korea will significantly drive coatings raw materials market growth in this region over the forecast period. 63% of the market's growth will originate from APAC during the forecast period. China, India, and South Korea (Republic of Korea) are the key markets for coatings raw materials in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- Akzo Nobel NV
- ALTANA AG
- Arkema SA
- BASF SE
- Dow Inc.
- Eastman Chemical Co.
- Evonik Industries AG
- Huntsman Corp.
- Momentive Performance Materials Inc.
- PPG Industries Inc.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Coatings Raw Materials Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in coatings raw materials market growth during the next five years
- Estimation of the coatings raw materials market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the coatings raw materials market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of coatings raw materials market, vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Resins Market size and forecast 2019-2024
- Pigments and fillers Market size and forecast 2019-2024
- Solvents Market size and forecast 2019-2024
- Additives Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver- Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Akzo Nobel NV
- ALTANA AG
- Arkema SA
- BASF SE
- Dow Inc.
- Eastman Chemical Co.
- Evonik Industries AG
- Huntsman Corp.
- Momentive Performance Materials Inc.
- PPG Industries Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
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