Skip to main content

Asia Pacific Coating Resins Market: Booming Automotive and Construction Industry to Encourage Growth, says TMR

The Asia Pacific coating resins market is characterized as highly fragmented and competitive in nature, owing to the presence of a large number of players operating in it, states a market intelligence report by Transparency Market Research. The leading players operating in the coating resins market in Asia Pacific, namely Allnex Belgium SA/NV, Arkema S.A., Nuplex Industries Ltd., BASF SE, Evonik Industries, Eternal Resin Co. Ltd., DIC Corporation, and Royal DSM N.V., collectively led the market and held a share of 50.5% in 2014. The Asia Pacific market for coating resins comprises of a large number of medium-scale and large-scale manufacturers. The rising importance of these players on advancements and innovations is estimated to encourage the growth of the overall market in the next few years. This will also allow players to gain a competitive edge in the Asia Pacific coating resins market.

As per the research study, in 2015, the Asia Pacific market for coating resins was worth US$16.23 bn and is projected to reach a value of US$27.8 bn by the end of 2023. The market is anticipated to register a healthy 7.0% CAGR between 2015 and 2023.
Growing Focus on Innovations to Create Opportunities for India Coating Resins Market
From a geographical viewpoint, China is expected to lead the coating resins market in Asia Pacific throughout the forecast period and account for a key share in terms of revenue. The high growth of this segment can be attributed to the rising focus on infrastructure development and the rising population. In addition, the booming construction industry is estimated to drive the demand for coating resins in China throughout the forecast period. On the other hand, India is expected to witness substantial growth in the coming few years. The growing focus on innovations and the development of environmentally sustainable technologies are some of the vital factors likely to fuel the growth of the coating resins market in India in the next few years.
In 2015, the building and construction end use segment led the Asia Pacific coating resins market and is anticipated to continue with its leading position in the next few years. As per the research study, this segment is projected to account for a share of 38.1% of the Asia Pacific coating resins market by the end of 2023. The rising construction activities in most of the emerging nations of Asia Pacific is one of the important factors anticipated to encourage the growth of this segment in the coming few years.
Developing Automotive Industry in Asia Pacific to Encourage Growth
The growing demand for coating resins from the building and construction industry is one of the key factors anticipated to fuel the growth of the Asia Pacific coating resins market in the next few years, states a TMR analyst. In addition, the expansion of the automotive industry in this region is projected to accelerate the growth of the overall market. The rising focus of key players on expansion of the application base is another factor likely to supplement the growth of the coating resins market in Asia Pacific in the coming years.
Fluctuating Raw Material Prices to Hamper Market Growth
The Asia Pacific market for coating resins is expected to face several challenges in the next few years, which will restrict the growth of the market. The volatility in prices of raw materials and crude oil is anticipated to curb the growth of the Asia Pacific coating resins market in the coming few years. In addition, stringent government regulations regarding volatile organic compounds are likely to hamper the market’ growth, says a TMR analyst. Nevertheless, the high growth of coating resins market in Vietnam is likely to generate potential opportunities for the leading players.
The Asia Pacific Coating Resins market has been segmented as below:
Asia Pacific Coating Resins Market, by Product Type
  • Acrylics
  • Alkyds
  • Epoxies
  • Unsaturated polyesters
  • Urethanes
  • Others (Including amino coating resins, etc.)
Asia Pacific Coating Resins Market, by Technology
  • Solventborne
  • Waterborne
  • High solids/radiation cures
  • Powder
  • Others (Including hybrid technology, etc.)
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Coating Resins Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Physical Vapor Deposition Market: Knowledge Regarding Benefits over Conventional Coating Methods to Fuel Demand, says TMR

The  global physical vapor deposition (PVD) market  is currently led by manufacturers such as IHI Ionbond AG and Oerlikon Balzers (Oerlikon Group). Together these companies account for the dominant market share in the market, clearly due to the superfluous coasts of PVD devices. As the patent protected nature of the PVD technology has restricted the scope for entry of new players, the existing ones enjoy stronghold in determining the price points. A majority of these companies are domiciled in North America, Europe, and Asia Pacific, finds Transparency Market Research (TMR) in a new study. As a result, only strategic collaborations with PVD companies across these regions can help new vendors establish their foothold in the global physical vapor deposition market.  As per TMR, the global PVD market, which in 2015 stood at US$13.6 bn is expected to reach US$21.8 bn by the end of 2024. If the figures hold true, the global physical vapor deposition market will exhibit...
Post a Comment
Read more

LiDAR Services Market by GIS Services, Asset Management, Aerial Surveying, Ground-Based Surveying Services - Comparative Analysis 2025.

Research N Reports offers latest published report “ LiDAR Services Market – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025”. The author of the report analyzed that the Global LiDAR Services Market accounted for US$  784.8  million  in 2016. LiDAR is a term that stands for Light Detection and Ranging. It is a remote sensing strategy that measures ranges using light as a pulsed laser. LiDAR is additionally a surveying method that measures target distance by illuminating it. LiDAR is the apex of the mapping technology. It is additionally the most recent advancement in the surveying technology. The LiDAR Services Market, which was esteemed at US$ 784.8 million in 2016, is relied upon to achieve an estimation of US$ 2926.3 million by 2025, developing at a CAGR of 15.9% amid the forecast time frame 2017-2025. Increasing utility of direct visualization and automated door modeling are some of the major drivers driving the market. Inc...
Post a Comment
Read more

Glass Fiber Reinforced Gypsum Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025

Glass Fiber Reinforced Gypsum (GFRG) is a composite application utilizing naturally occurring mineral gypsum combined with reinforcing fibers. It may also contain polymers to increase product strength. The molding process can be either hand lay-up or a chopped strand spray method. Stereotypically, the end product is used for indoor applications with negligible exposure to moisture or other environmental elements. Completed composites are in the form of ornamental or decorative columns, pillars and facades. With the slowdown in world economic growth, the global market has also suffered a certain impact, but still maintained a relatively optimistic growth. In terms of revenue, the Global Glass Fiber Reinforced Gypsum Market was valued at US$ 458.49 Mn in 2016 and is expected to reach US$ 888.35 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025. The Global Glass Fiber Reinforced Gypsum Market is boosted by factors such as: ·       ...
3 comments
Read more