The Global Coating Resin Market Will Reach $37.9 Billion In 2023

- Mar 18, 2019-

According to the relevant market research report, the coating resin market in 2018-2023 is expected to grow at a compound annual growth rate of 5.1% annually, which will increase from $29.5 billion in 2018 to $37.9 billion in 2023.

The growth of terminal industries such as construction, packaging, general industry, automobile, ship, aerospace and furniture is a key factor driving the growth of the coating resin market.

1. Polyurethane resin is expected to take a large share of the coating resin market in the forecast period

Polyurethane resins are expected to occupy a * share of the paint resin market and have a high compound annual growth rate during the forecast period as they are used in various fields.

The main terminal industries of powder polyurethane are household appliances, such as refrigerators and dryers.

The high performance properties of polyurethane, such as its curing at lower baking temperatures, and the improved total coating solids component, provide the ability to reduce volatile organic compounds, offsetting the high cost of polyurethane.

2. Powder coating is expected to become the fastest growing application field of coating resin market

Powder coating technology is expected to achieve compound annual growth rate in the technical field of the global coatings resin market.

The technology is mainly used in the automobile, home appliances, outdoor furniture manufacturing and construction industries.

The main factor driving this growth is the requirement of regulations and standards. China occupies the global coating market, and environmental protection regulations and standards are frequent.

Such as quality supervision, inspection and quarantine, * standardization management committee approved the release of GB/T35602-2017 "green product evaluation - coating" * standards, implementation date for July 1, 2018, standard aims to establish a unified system of green products, developing green products, promote the consumption pattern change, is the * ecological strategy and significant step to promote the reform of the supply side.

This standard stipulates the terms and definitions, product classification, evaluation requirements and evaluation methods of green coating product evaluation.

It is suitable for green product evaluation of waterborne coating, powder coating, radiation curing coating, high solid coating, solvent-free coating and other coating products.

Issued by the state council "about winning the sky battle action plan of the three years notice" (guo fa (2018) 22 > asked "before the end of 2019, completed coating, printing ink, adhesive, detergent products such as VOCs concentration limit mandatory standards work" key area, a ban on the construction of the production and use of high content of VOCs solvent paint, printing ink, adhesive and so on project "and so on.

To accomplish this task, led by sarft, environmental protection environment, joint coating association, China petroleum and chemical industry federation, cnooc changzhou coating chemical industry research institute co., LTD and other units to declare the standard program "low voc content coating product technology requirements, the standard in the national standardization technical committee under centralized coatings and paint, will be completed by the end of 2019 and July 2020.

"Low voc content coating product technology requirements will definitely low voc content coating product concept consists of waterborne coatings, powder coatings and its varieties, radiation curing coatings, high solid coatings, solvent-free coatings, such as the standard, is bound to further promote the water-based resin, high solid resin, UV light curing resin, especially the powder resin such as the growth of the market.

3. During the forecast period, the application of building coatings accounted for a large share of the coating resin market

Resin for building coatings accounted for a large share of the overall paint resin market in 2017.

Global construction activity is booming, awareness of environmental protection products and green environmental protection laws and regulations is improved, per capita coating consumption is rising, will promote the growth of building coatings resin.

4. During the forecast period, the coating resin market in asia-pacific region will grow with a large compound annual growth rate

Asia Pacific coatings resin market is divided into China, Japan, India, South Korea, Thailand, Indonesia, Singapore and other parts of the Asia Pacific region.

In 2017, the asia-pacific region accounted for a large share of the global coating resin market.

Growth in the asia-pacific region has been driven by a large and growing population base, rapid growth in construction activity and an increase in the number of cars and wooden furniture.