Global Coatings Raw Materials Market 2019-2023 | Increasing Demand for Alkyd Resins to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018-- analysts forecast the global coatings raw materials market to grow at a CAGR of almost 5% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005638/en/
Technavio has released a new market research report on the global coatings raw materials market for the period 2019-2023. (Graphic: Business Wire)
The increasing demand for waterborne coatings is one of the major trends being witnessed in the . Consumers are increasingly preferring the waterborne coatings that are available in the market as water-dispersible paints, water-soluble paints, water-based alkyds, and emulsions or latex paints. The market is also being supported by strong housing and construction activities, notable automotive production, and greater consumption of printing inks in developing economies such as India, China, and Malaysia among others.
According to Technavio analysts, one of the key factors contributing to the growth of the global coatings raw materials market is the increasing demand for alkyd resins in painting and coatings:
Global coatings raw materials market: Increasing demand for alkyd resins in painting and coatings
Alkyd resins are one of the key raw materials used to make synthetic paints and coatings as they are exceptionally compatible with a wide range of coating polymers. Alkyd resins are produced using chemicals such as polyhydric alcohols, polybasic acids, modifying agents, oils, and fatty assets that helps in significantly improving weathering properties of protective coatings. The sustained and high-consumption of paints and coatings are expected to trigger the demand for alkyd resins, which, in turn, will drive the growth of the global coatings materials market.
According to a senior analyst at Technavio for research on paints, coatings, and pigments, “Apart from the increasing demand for alkyd resins in painting and coatings, the growth of the coatings raw materials market is expected to be driven by the growing demand for coatings raw materials in the construction industry and the increasing demand of these products in APAC.”
Global coatings raw materials market: Segmentation analysis
The global coatings raw materials market research report provides market segmentation by type (resins, pigments and fillers, solvents, and additives), by region (APAC, Europe, North America, and ROW). It also provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC held the largest share of the market in 2017, accounting for about 51% share, followed by Europe, North America, and ROW respectively. The APAC region is expected to continue dominating the market during the forecast period owing to the rising industrialization in countries such as India, China, Malaysia, Vietnam, Japan, and South Korea.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181204005638/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/04/2018 09:13 AM/DISC: 12/04/2018 09:12 AM