LONDON--(BUSINESS WIRE)--The global coatings raw materials market is expected to post a CAGR of almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The market is supported by strong growth in the housing and construction market, notable automotive production, and greater consumption of printing inks in developing economies such as India, China, and Malaysia among others. 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. Thus, the increasing demand for waterborne coatings will boost the growth of the coatings raw materials market during the forecast period.
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As per Technavio, the increasing demand for alkyd resins in paints and coatings, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Coatings Raw Materials Market: Increasing Demand for Alkyd Resins in Paints and Coatings
Alkyd resins is one of the key raw materials that is used in the making of synthetic paints and coatings. 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 help in significantly improving weathering properties of protective coatings. The sustained and high-consumption of paints and coatings is expected to trigger the demand for alkyd resins, which in turn, will drive the growth of the global coatings materials market.
“Apart from the increasing demand for alkyd resins in paints and coatings, advancements in water-based ink technology are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Coatings Raw Materials Market: Segmentation Analysis
This market research report segments the global coatings raw materials market by type (resins, pigments and fillers, solvents, and additives) and by region (APAC, Europe, North America, and ROW).
The APAC region led the market in 2018, followed by Europe, North America, and ROW respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the rising industrialization in countries such as India, China, Malaysia, Vietnam, Japan, and South Korea.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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