LONDON, April 27, 2016 /PRNewswire/ -- "Growth drivers for the coating resins market"
The market size, in terms of value, of coating resins is estimated to be about USD 29.03 billion in 2015 and is projected to reach USD 38.15 billion by 2020, at a CAGR of 5.61% between 2015 and 2020. The coating resins market, along with its applications, witnessed a moderate-to-high growth in the past few years and is likely to continue so in the coming years. The drivers identified for the coating resins market are development of green, environment-friendly & healthier coating systems; more durable coatings with better performance & better aesthetics; and lower costs and efficiency in use.
"High growth markets for coating resins"
Acrylic resin is the fastest-growing coating resin as it is used in a wide range of applications because of their chemical characteristics and unique aesthetic properties. Currently, the strongest demand for acrylic resins comes from the automotive, medical device, paints & coatings, adhesive & sealant, and construction & architecture industries. Besides acrylic, epoxy, and polyurethane are also high growth markets.
End-use markets with the best growth prospects
High performance coatings are estimated to have the best growth prospects for coating resins. The end-use for marine coatings are new-building, repair and maintenance of deep sea structures, and coastal and navy vessels. More than 85% of the new-building market is in Asia-Pacific and 50% of ship owners are Europe/Middle East based. There are growth opportunities in deep sea oil-rigs maintenance & repair, sea-stores, and coastal & navy sectors.
The end-use for yacht coatings is super yacht, general professional , and retail/DIY. The super yacht segment has grown rapidly in recent years. The increase of high wealth consumer in emerging markets will define the growth of the yacht coatings market.
The aerospace coatings market is strongly driven by commercial sector , both in new building and maintenance .
FIGURE 1 BREAKDOWN OF PRIMARY INTERVIEWS
Number of primaries: By Company Type
Tier 1 – 45%
Tier 2 – 35%
Tier 3: 20%
Number of primaries: By Designation Type
C Level – 35%
Director Level – 25%
Others – 40%
Number of Primaries: By Region
North America – 45%
Europe – 30%
Asia Pacific – 20%
RoW – 5%
*Others include sales, marketing, and product managers.
The tiers of the companies are defined on the basis of their total revenue, as of 2014: Tier 1 = >USD 7 billion, Tier 2 = USD 500 million to USD 7 billion, and Tier 3 =
Companies profiled in the report
- The Dow Chemical Company
- Momentive Specialty Chemicals
- Royal DSM NV
- BASF SE
- The Valspar Corporation
- Arkema S.A.
- Allnex Belgium SA/NV
- Bayer AG
- Nuplex Industries
- PCCR USA
Reasons to buy the report
- Scenario analysis of three possible price points of crude oil and its resulting impact on the coating resins market
- A comprehensive coverage and analysis of the coating resins market in North America, Western Europe, Asia-Pacific, and RoW
- Competitive landscape of the major players and their developments in the coating resins market
- Identify opportunities with high-potential for coating resins
- Identify and target high-growth application segments
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