Resins Market in Paints & Coatings: A Sustainable approach towards Environment Concerns
Resins are used as binders to formulate the paints & coatings products and enhance the performance & functionality based on the resin types. The focus on sustainability and reducing emissions of hazardous organic solvents have motivated companies to produce resins that have low-VOC, waterborne, and VOC-compliant.
For example; on 20th Oct. 2021, Allnex GmbH has announced the investment of EUR 12 million on the construction of a new state-of-the-art R&D center in Werndorf, Austria which will have a focus on the development of new low-VOC, waterborne and VOC-compliant resins and additives for the global coatings markets. This construction is scheduled for completion in Q3 2022.
5th Oct. 2021, Helios Resins announced that they have ISCC Plus (International Sustainability and Carbon Certification)* certified a range of polyester resins in order to follow strict standards and requirements, which really contributes to environmental responsibility.
On 24th Nov. 2021, Westlake Chemical Corporation has announced to have a definitive agreement to acquire the epoxy business of Hexion in USD 1.2 billion, which manufactures epoxy resins, modifiers, and curing agents for high-performance materials, coatings, and composites.
In July 2021, PTTGC International (Netherlands) B.V., a wholly-owned subsidiary of PTT Global Chemical Public Company Limited, has announced to acquire industrial coating resins producer Allnex Holding GmbH, advised by Advent International, and the acquisition is expected to close in Q4 2021.
On 1st April 2021, Covestro announced that it had successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Royal DSM. The integration of the RFM has expanded the Group’s revenues and also added more than 20 sites to their global production network. This acquisition added a complete range of water-based polyacrylate resins, Niaga® a sustainable brand, solutions for additive manufacturing, and an advanced solar coatings business.
According to AKI Research, the global resin market in paints and coatings is estimated to value USD 37,417.63 million in 2021, and is poised to grow at a CAGR of 4.72% over the forecast period 2021-2026.
The key players in the global resins market in paints & coatings include Arkema, BASF SE, Dow Dupont, Covestro, Evonik Industries, Huntsman International, PTTGC International (Netherlands) B.V. (ALLNEX NETHERLANDS B.V.), Reichhold, Mitsubishi Chemical Corporation, Mitsui Chemicals, Wanhua Chemical Group, Helios Resin, Eastman Chemical Company, DIC Corporation, Perstorp, Solvay, Wacker Chemie, etc. among others.
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Our Report on Global Resins Market in Paints & Coatings will include:
Market Segmentation: Resin Type, Technology Type, End-user Type, and Geography
Market Dynamics: Market Drivers, Restraints/Challenges, Opportunities
Region: Global. Includes 5 regions (North America, South America, Europe, Asia-Pacific, Middle-East & Africa)
Country: 18 Major Countries + Rest of Countries in Each Region
Company Profiles: 15+ Major Companies
Base Year: 2020, Forecast: 2021-26 (Y-o-Y)
Past Years: 2016-2019
Market Share for 2020(est.) & recent developments
Important Questions that our Report on Global Resins Market in Paints & Coatings will answer:
What is the total market size y-o-y basis (2016-2026) and CAGR for the forecast period (2021-2026)?
What are the key market dynamics i.e. market drivers, market restraints & challenges impacting the market?
What are the key opportunities in the market that will have a significant impact in the future?
How does Porter's Five Force Model make us understand the resins market scenario in paints and coatings?
What are the countries market covered in this market?
What are the key market segmentation of the market and how each sub-segment is performing year on year by region or country?
Which regional market segment accounted for the largest market share?
Who are the top key players in the market and how much market share (estimated or actual) do they account for?
What are the recent developments, new product development or technologies, mergers & acquisitions, collaboration, joint ventures, etc. in the market?
What are the key takeaways from the company profiles in the report?
What are the impacts of the covid-19 pandemic on the market in each country since 2020?