1. Home
  2. > Chemical
  3. > Specialty Chemical
  4. > Paint and Coating Market Trends
Resins in Paints and Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Resins in Paints and Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • January 2022
  • 195 pages
  • ID: 6227787
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The resins in the paints and coatings market was valued at USD 32,331.26 million in 2021, and it is expected to witness a CAGR of more than 4.5% during the forecast period (2022-2027).

The outbreak of COVID-19 brought several short-term and long-term consequences in the construction industry, which may affect the paints and coatings market across the world. The consequences are due to the temporary shutdown of construction activities during the lockdown. Moreover, the construction sector’s performance is projected to be affected because of the negative impact on the liquidity of money due to the affected income of a relatively larger section of society. Besides, the disrupted supply of raw materials and labor is one of the major factors likely to affect the construction activities in the forecast period.

Key Highlights
Over the short term, the major factor driving the market studied is the increasing construction activities in Asia-Pacific.
On the flipside, fluctuation in demand due to competition from other industries using resin is likely to hinder the market.
The advent of eco-friendly resins is projected to offer numerous opportunities for the manufacturers through the forecast period.
Asia-Pacific dominated the market worldwide, with the largest consumption from countries like China and India.

Key Market Trends

Architectural Industry to Dominate the Market

The architectural segment holds the largest share in the market studied, with more than 35%. The growing construction sector worldwide is boosting the demand for various resins in the paints and coatings market.
Increasing paints and coatings production and consumption, owing to robust demand in new construction activities and refurbishments of various commercial and residential buildings in many nations, is driving the demand for resins in the architectural sector.
The commonly used resins for architectural coatings include vinyl acrylate, styrene acrylics, and pure acrylics, and these account for a significant share in the architectural coatings market.
The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby driving the consumption of resins in coatings in residential construction worldwide.
The construction sector in the Asia-Pacific region is the largest globally. It is growing at a healthy rate, owing to the rising population, increase in middle-class income, and urbanization.? In Asia-Pacific, China is one of the leading countries in shopping-center construction. China has almost 4,000 shopping centers, while 7,000 more are estimated to be open by 2025.?
The recovery of the European construction industry is quite rapid. The losses from the pandemic are expected to be recovered by 2022. EUROCUNSTRUCT’s analysis suggests that the industry grew by 3.8% in 2021, following a slump of 5.1% in 2020. The growth rates of the construction industry in 2022 and 2023 are expected to be 3.0% and 2.1%, respectively, and the economies of the EC-19 are likely to expand by 4.4% and 2.0%, respectively.?
The United Arab Emirates has an exceptionally well-connected residential plaza under construction in the heart of Dubai’s new growth corridor, Al Furjan. Azizi Developments includes 16 luxurious penthouses, 46 one-bedroom units, 86 two-bedroom residences, and 286 studios.
While all such planned investments and projects were delayed due to the adverse effects of COVID-19, the market is expected to recover with the resumed construction activities, which is anticipated to drive the demand for paint and coating resins during the forecast period.

Asia-Pacific Region to Dominate the Market

The construction sector of the Asia-Pacific region has been witnessing steady growth over the recent past, owing to the presence of fast-growing economies, rapid urbanization, and rising infrastructural spending. The increasing presence of foreign companies in the Asia-Pacific region has also created a demand for the construction of new offices, buildings, production houses, etc., thereby driving the growth of the construction sector.
China continues to dominate the demand for the market studied, powered by its huge production base for paints and coatings, with more than 1/3 of the global production share.
The Chinese government rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next 10 years. Thus, this may create a major scope for resins in paints and coatings used in various applications during building construction, enhancing the building properties.
As India is still a developing economy, the construction sector is one of the booming industries. The infrastructure sector is an important pillar for the growth of the Indian economy. The government is taking various initiatives to ensure the country’s time-bound creation of excellent infrastructure.
Japan also hosts various high-rise buildings (nearly 290), Tokyo being a major hub for such buildings. The planning and construction of such buildings are witnessing growth in Japan in the short term. The construction sector in Japan is expected to expand at a moderate pace over the next five years, owing to increasing investments in public and private infrastructure and commercial projects. Japan is a major area in the field of skyscrapers and high-rise buildings.
Southeast Asia is currently one of the most dynamic regions globally, with construction and building projects flourishing, owing to its healthy political environment and robust economic growth.
Hence, from the rapidly growing construction activities in the above countries, the demand for paints and coatings is projected to increase substantially during the forecast period, which may increase the consumption of resins used in the production of paints and coatings in the region.

Competitive Landscape

The global resins in paints and coatings market is fragmented in nature, with the presence of numerous players, each accounting for an insignificant market share. The major companies in the market include Arkema Group, BASF SE, Dow, Evonik Industries AG, and Covestro.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on