NEW YORK, Oct. 16, 2014 /PRNewswire/ -- The report covers the global coating resins market and further divides the market on the basis of resin type, technology, application, and region. The market data for these types is given with respect to volume (thousand tons) and value ($million). The global market value of coating resins was estimated to be $28,592 million in 2014 and is projected to grow at a CAGR of about 6.25% between 2014 and 2019. The data mentioned in the report are based on the global demand for coating resins.
The total market for coating resins has been analyzed based on the Porter's five forces model. This gives an idea about the current proceedings in the industry at commercial level. The study provides the value chain analysis with respect to coating resin raw materials, manufacturers, and end-user industries. The value chain describes the key contributors to the coating resins market at different stages from product development to end use. It represents the top players which are contributing to the global coating resins industry.
The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as government regulatory support, public awareness, application growth for coating resins in Asia-Pacific especially in China where there is growth in the furniture industry. The economic slowdown in Europe and the U.S. also affected the economy of other developed countries and the price volatility in the past made the market more strained for the end-user industries.
The global coating resins market is also classified based on different applications. The important applications include architectural coatings, automotive coatings, general industrial coatings, high performance coatings, wood coatings, packaging coatings, and others. The architectural and automotive coatings industries are expected to show rapid growth in the future.
The key companies in this market are The Dow Chemical Company (U.S.), Momentive Specialty Chemicals Inc. (U.S.), and PCCR USA (U.S.). Some of the other companies operating in the global market include BASF SE (Germany), The Valspar Corporation (U.S.), Allnex (formerly Cytec) (U.S.), Evonik (Germany), Arkema S.A. (France), Royal DSM N.V. (The Netherlands), Nuplex Industries Ltd. (New Zealand), and Bayer AG (Germany). These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments and expansions were the most preferred strategies by the top players in 2013 that were driving the demand of coating resins. Their strategy to capture the market in developing economies includes expansions and investments.
The Asia-Pacific region emerged to be the driving factor for this market, contributing for more than 50% of the global demand in terms of consumption in 2013. China is the leading country in the consumption of coating resins, due to the increased demand from the furniture trade industries. The important emerging economies such as Brazil, India, Russia, and others are further lined up for a brighter future in this market.
The report also presents a competitive landscape covering different strategies and developments such as mergers & acquisitions, expansions, and agreements undertaken by the leading coating resin companies in the past few years. Furthermore, different coating resins market participants are also profiled in the report.
Scope of the report
The report segments the global coating resins market as:
The global coating resins market has been covered in detail in this report. In order to provide an all-round picture, the current market demand and forecasts have also been included.
On the basis of resin type:
• Unsaturated Polyester
• Saturated Polyester
On the basis of application:
• Architectural Coatings
• Automotive Coatings
• General Industrial Coatings
• High Performance Coatings
• Wood Coatings
• Packaging Coatings
On the basis of region:
• North America
• Western Europe
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