LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global protective coating resins market report. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
The global protective coating resins market is growing at a fast pace owing to the demand from major end-user segments such as the construction, automotive, oil and gas, marine, industrial, power generation, mining, and other industries. The increasing corrosion costs and demand from emerging countries are the major drivers of the market.
Competitive vendor landscape
The global protective coating resins market is highly fragmented yet dominated by key vendors such as Akzo Nobel, Axalta Coatings systems, The Dow Chemical Company, The Sherwin-Williams Company, and RPM International. This is leading to intense market rivalry and is posing barriers to the entry of unpracticed players. The industry requires local production as transportation costs account for a sizable portion of the total costs and customers prefer shorter delivery times.
“The production process in the industry is highly automated, which reduces the competition from outsourcing. The market is characterized by differences in building different regulations in different regions across the globe. Customers in this market seek products and materials that are long lasting with excellent quality and expertise,” says Kshama Upadhyay, a lead chemical engineering equipment research analyst from Technavio.
The intense price competition among smaller manufacturers, gaining the expertise, and raising the capital necessary for the investment in new production plants are difficult for the manufacturers. The competition in the market is likely to intensify due to increasing R&D investments, advances in technology, and new product development.
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Top five protective coating resins market vendors
Akzo Nobel is offering a wide range of acrylic resins that comprise polymerization initiators, antifouling agents, curing agents, polymer additives, and functional methacrylates. It is involved in synthetic resin and polymer chemistry for high-performance coatings.
Axalta Coating Systems
Axalta is offering protective coating resins under the brand Voltaprem for high and medium voltage motors, Voltaprem 5000 for the electrical motor, generator and transformer applications, and XT series polyester resin, which are used in the trim coil, lighting fixture, ceiling grid, and entry door.
The Dow Chemical Company
The Dow Chemical company is providing protective coating resins under the brands AVANSE, PARALOID, and MAINCOTE. AVANSE is an acrylic-binder technology, which has low VOC capability and is used in various applications such as metal finishing, masonry, and maintenance and protective coatings.
The Sherwin-Williams Company
The Sherwin-Williams Company is offering protective coating resins with product names such as 3561 epoxy resin glaze, 3554 epo-flex matrix, 3561C conductive/spark proof epoxy resin glaze, 4700 instant patch resin, 4080 FasTop patch resin, 4080 FasTop 12S binder resin, and 4090 FasTop 12M binder resin.
RPM International is offering protective coating resins through Prime Resins that is operating as a subsidiary of RPM International. It is offering a wide range of polyurethane, epoxy, polyureas, acrylates, and acrylates under product names such as AR 870, AR 800, Prime coat 4000, Prime coat CTL, and Prime coat 4300 Novolac.
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