China is Expected to Hold Around 32% of the Global Coating Binders Market
Application of Coating Binders in Architectural Coatings to Lead the Market Share
In its latest study, Fact.MR provides the supply chain and industry life cycle analysis of the global coating binders market from the period of 2022 to 2032. Besides, it also highlights various growth opportunities associated with the leading segments in terms of product type, nature, technology and application across six major regions.
NEW YORK, Jan. 11, 2022 /PRNewswire/ -- The global coating binders market is expected to be worth USD 35,133 million in 2022 and USD 50,563 million by 2032, with a CAGR of 3.1% between 2022 and 2032.
Furthermore, coating binders produced roughly 40.1 kt in 2021, accounting for 23.5% of total binder production, and are expected to expand at a CAGR of around 2.8% through 2032, with output expected to reach 48.7 kt.
Coating binders serve a crucial function in keeping pigments in place, which is critical for the coating's protective properties. Furthermore, the optimum binder ratio in coatings improves durability and attractiveness. As a result, coating binders have been identified as the most critical chemical in the formulation of coatings.
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Application in architectural coatings witnessed highest consumption of coating binder. This is mostly due to rising urbanization, as well as a growing desire among homeowners to provide durability and protection to their outside walls.
Furthermore, sports surfaces necessitate coatings with high adherence, therefore the binder is critical in providing a high build for tennis courts and other sports surfaces. As a result, the usage of coating binders will skyrocket during the next decade as worldwide athletic activities expand.
According to the UN's most recent report, roughly 60% of the world's population, or 4.9 billion people, is expected to reside in urban areas by 2030. This represents a 13 percent increase since 1999. In addition, Asia will account for almost 60% of the overall rise in urban population, with China and India playing a prominent role.
This increase in urban population will increase demand for housing activities, which will drive the paints and coatings industry in Asia. As coating binders are necessary for assuring great adhesion and delivering a glossing effect to the exterior and interior of walls, an increase in housing activity will have a direct impact on binder consumption increases.
Key Takeaways:
- Europe coating binders market to account for nearly 60% of global market share.
- Alkyd based coating binders to dominate the product type with growing at a 3.2% CAGR by 2032.
- Application of coating binders in architectural coatings held around 43.1% of the total market share in 2021.
Growth Drivers:
- Rising demand for chemicals which can provide gloss retention, tint retention, and resistance to blistering, cracking and flaking to drive the coating binder production
- R&D on production of environmental friendly binders to propel the coating binder market growth.
- Increasing trend of decorative coatings to amp up the demand for coating binders.
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Competitive Landscape
The global coating binders market is partially consolidated, with a few major players controlling the majority of the market's value. Furthermore, players have used a combination of organic and inorganic growth tactics such as product creation, innovation, and partnership to gain market share.
Key Players in the Coating Binders Market Include:
- Arkema sa
- ASHLAND GLOBAL HOLDINGS, INC
- BASF SE
- Evonik Industries AG
- H.B. Fuller company
- Koninklijke DSM N.V.
- Shin-Etsu Chemical Co., Ltd.
- Stephan company
- Synthomer plc
- The Dow chemical company
- THE Lubrizol corporation
More Valuable Insights on Coating Binders Market
Fact.MR provides an unbiased analysis of the coating binders market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global coating binders market with a detailed segmentation on the basis of:
- By Product Type
- Alkyds
- Acrylics
- Epoxy
- Polyesters
- Vinyl-Acrylics
- Polyurethanes
- Others
- By Nature
- Synthetic
- Natural
- By Technology
- Waterborne Coating
- Solvent Based Coating
- Powder Coating
- High Solids
- UV Cure
- By Application
- Architectural Coating
- Automotive Coating
- Wood Coating
- Industrial Coatings
- Others
- By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Covered in Coating Binders Market Report
- The report offers insight into the coating binders market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for coating binders market between 2022 and 2032.
- Coating binders market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Coating binders market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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Architectural Coatings Market Forecast - The building sector is responding to the increase in people migrating to metropolitan areas by developing cheap housing and infrastructure. As a result, demand for diverse equipment and architectural coatings materials is increasing. The need for exterior architectural coatings to protect a structure from moisture, UV rays, and bacteria is growing.
Glass Coatings Market Insights - Due to increased demand for glass coatings from various industries such as automotive, aerospace, marine, aviation, building and construction, the worldwide glass coatings market is expected to develop significantly over the forecast period.
Hydrophobic Solvents Market Scope - Hydrophobic solvents are projected to gain substantial traction across the globe, thanks to the rising building industry and industrial expansion. The use of hydrophobic solvents over traditional protective coatings to shield materials from chemicals is expected to drive the market for hydrophobic solvents.
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