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Coating Resins Market Analysis by Resin Type (Acrylic, Alkyd, Polyurethane, Vinyl, and Epoxy); by Technology (Water-based, Solvent-based, High Solids, UV-cured, and Others); and by Application (Architectural, Industrial, Automotive, Wood, Protective & Marine, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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  • June, 2022: Koninklijke DSM N.V. is acquiring Prodap, that is expected to combine technology offerings, consulting services, and customized nutritional solutions and drive efficiency and sustainability in animal farming.
  • February, 2022: Celanese Corporation acquiring Mobility & Materials (“M&M”) business of DuPont. The company has planned to buy the portfolio of engineered thermoplastics and elastomers, global production assets, and a world-class organization.

Global Coating Resins Market Size, Forecast, and Trend Highlights Over 2022 - 2031


The global coating resins market is estimated to garner a revenue of USD 70 Billion by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 50 Billion in the year 2021. The primary growth factor for the increment of utilization of coating resins is the growth in construction processes across the world. Recently, the high spending in construction sector is expected to propel the market growth in the assessment period. The total spending made in the construction sector of the United States was calculated to be USD 2 trillion in 2020.  Further, the U.S. construction industry accounted for 4.4% of the total GDP in 2021.


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Coating resins are polymer compounds that are used to applied to the surface of an object and provide hardness, corrosion resistance, weather resistance, and stain resistance. By using coatings resins, it will also provide quick drying periods, gloss retention, and excellent weathering. Coating resins are the most popular method of deploying protective coating layers in a wide range of applications, including architectural, automotive, paints & coatings, and other industrial uses. Aggressive investments by governments in the construction sector to cater the needs of the burgeoning population have pushed people towards infrastructure development and construction sector. This is a vital reason that is anticipated to increase the adoption rate of coating resins in the coming true. In the year 2020, the construction sector of the United States had 682,000 employers and approximately 8 million employees.

Global Coating Resins Market: Growth Drivers and Challenges

Growth Drivers

  • Development of Paints & Adhesives –Recent calculations revealed that the global paints and adhesives industry generated a revenue of approximately USD 160 billion in the year 2020. Further, in 2019, the global market volume of paints and coatings was valued to be 11 billion gallons.

  • Expansion of Manufacturing Industry –The revenue generated by the United States manufacturing industry stood at approximately USD 8 trillion. Moreover, the number of manufacturing enterprises was calculated to be 740,850 in 2018.
  • Augmentation in the Size of Construction Industry –According to recent estimations, the United States construction industry revenue generation stood up at USD 2 trillion. Additionally, it is forecasted that by 2030, the global construction industry expenditure would rise up to USD 17.5 trillion.
  • Blooming Chemical Industry –The revenue catered bythe global chemical industry in the year 2021, summed up to be approximately USD 5 trillion.
  • Increased Expenditure in Research & Development –The World Bank released the global expenditure made in Research & Development (R&D) sector which showed that in 2020 it was 2.63% of the total GDP. This is an increase from year 2.14% of total GDP in 2016.


  • Fluctuation in Prices of Raw Materials
  • Decreasing Petrochemical Stocks
  • Stringent Regulatory Policies

The coating resinsmarket is segmented and analyzed for demand and supply by application into architectural, industrial, automotive, wood, protective & marine, and others. Out of these, the automotive segment is expected to garner the highest revenue by 2031, owing to the blooming of the automotive industry. As per recent statistics, the global automotive industry is forecasted to reach approximately USD 9 trillion by 2030. Also, the recent high demand for automobiles is anticipated to increase the demand for coating resins to provide extra protective layers to the vehicles. As per the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of vehicles increased to 56,398,471 units in 2021 from 53,917,153 units in 2020. whereas the global production of vehicles is calculated to be 57,054,295 units in 2021, an increase from 55,908,989 units in 2020.

Major Macro-Economic Indicators Impacting the Market Growth


The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Coating Resins Market Regional Synopsis

Regionally, the global coating resins market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2031, owing to the high revenues generated by the region. As of 2020, the chemical industries of Asia Pacific region contributed to at least 60% of the revenues generated by the global chemical industry. Further, the expansion of the automotive industry in the region is another growth factor for the utilization of coating resins. As per recent estimates, India is set to become the world's 3rd largest automotive industry. Also, India’s automotive industry generated almost USD 220 billion in 2021, which is equivalent to 7% of total India’s GDP.


The global coating resins market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global coating resins market includes the following segments:

By Resin Type

  • Acrylic
  • Alkyd
  • Polyurethane
  • Vinyl
  • Epoxy

By Technology

  • Water-based
  • Solvent-based
  • High Solids
  • UV-cured
  • Others

By Application

  • Architectural
  • Industrial
  • Automotive
  • Wood
  • Protective & Marine
  • Others

Top Featured Companies Dominating the Global Coating Resins Market

  • Arkema group

    • Company Overview

    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Allnex Netherlands BV
  • Koninklijke DSM N.V.
  • The Dow Chemical Company
  • DIC Corporation
  • Bayer AG
  • Celanese Corporation
  • Eastman Chemical Company



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