The coatings raw materials market share is expected to grow up to 9808.00 thousand tons, accelerating at a CAGR of 4.64% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects. View Free Sample Report
The coatings raw materials market is segmented by Type (Resin, Pigments and fillers, Solvents, and Additives) and Geography (APAC, Europe, North America, South America, and MEA). The growing automotive industry is one of the major coatings raw materials market trends impacting the coatings raw materials market growth.
Based on the market segmentation by type, coatings raw materials market growth in the resins will be significant during the forecast period.
Factors such as rapid industrialization, the growing construction industry, and the burgeoning automotive industry in countries such as China, India, Malaysia, Indonesia, Vietnam, Japan, and South Korea will facilitate the coatings raw materials market growth in APAC. 51% of the market growth will originate from APAC during the forecast period. The research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
The increasing demand for alkyd resins in paints and coatings is one of the primary factors driving the growth of the coatings raw materials market. However, the fluctuating crude oil prices is one of the key challenge negatively impacting the coatings raw materials market growth.
The market is fragmented. Akzo Nobel NV, ALTANA AG, Arkema SA, BASF SE, Dow Inc., Eastman Chemical Co., Evonik Industries AG, Huntsman Corp., Momentive Performance Materials Inc., and PPG Industries Inc. are some of the major coatings raw materials market vendors. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Three key vendors and their offerings are:
Akzo Nobel NV
Akzo Nobel NV operates its business under decorative paints and performance coatings segments. The company manufactures resins such as polyurethane resins, alkyd resins, and silicon-modified polyester resins.
ALTANA AG operates its business under various segments such as BYK, ECKART, ELANTAS, and ACTEGA. The company offers resins, pigments, and binders which are used as coatings raw materials in the paints and coatings industry.
Arkema SA operates its business under three segments, which include high-performance materials, industrial specialties, and coating solutions. The company manufactures resins, pigments and fillers, and solvents which are used in paints and coatings industries.
The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. Download the Free PDF Sample Report