The report "Coating Resins Market by Type (Acrylic, Alkyd, Vinyl, PU, Epoxy, Amino, UPR, SPR & Others), by Technology (Waterborne, Powder, High Solvents, High Solids, UV Cure), by Application (Architectural, Automotive, Wood, & Others) - Global Forecast to 2020", The coating resins market was valued at 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.

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The growth of the coating resins market is primarily triggered by the economic growth in developing countries, growth in end-use industries, increasing investment in infrastructure, stringent environmental regulations, and increasing purchasing power. The use of environment-friendly products has been one of the most important trends in the coatings industry since the last 10 years, largely influenced by tighter EU regulation regarding reduction of volatile organic compounds (VOC) emission in coating resins. The demand has shifted from solvent-based coatings to environment-friendly products, such as water-based, powder, high solid, and UV curable coatings (these products do not contain solvent that evaporates during the curing phase; they only need a special ultraviolet light to cure instantly). Resins are the key to innovation in coatings.

Green, environment-friendly & healthier coating systems to drive the coating resins market

The preference for environment-friendly product is one of the most important trends in the coatings industry since the last 10 years. This trend is largely influenced by tighter EU regulation regarding the reduction of volatile organic compounds (VOC) emission in coating resins. The demand has shifted from solvent-based coatings to environment-friendly products such as water-based, powder, high solid, and U.V. curable coatings (these products do not contain solvent that evaporates during the curing phase; they only need a special ultraviolet light to cure instantly). Resins are the key to innovation in coatings. Countries such as China, the U.S., and Brazil are the major markets of coating resins. The market in countries of Middle East and Africa are also growing. In developed countries such as the U.S., Spain, Germany, Japan, and Italy, the market is growing at a low-to-moderate rate.

Key Market Payers in Coating Resins Market

Asia-Pacific is the largest market for coating resins, both in terms of volume and value, followed by Western Europe and North America. The key players in this market are The Dow Chemical Company (U.S.), Momentive Specialty Chemicals (U.S.), Royal DSM NV (The Netherlands), BASF SE (Germany), The Valspar Corporation (U.S.), Arkema S.A. (France), PCCR USA (U.S.), and Nuplex Industries (Australia), among others.