Coating Resins Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 40.06 Billion
CAGR (2026-2031)	6.61%
Fastest Growing Segment	Epoxy
Largest Market	Asia Pacific
Market Size (2031)	USD 58.82 Billion

Market Overview

The Global Coating Resins Market will grow from USD 40.06 Billion in 2025 to USD 58.82 Billion by 2031 at a 6.61% CAGR. Coating resins are polymer compounds that serve as the primary binder in coating formulations, essential for providing adhesion, durability, and chemical resistance to various substrates. The market is fundamentally supported by the expansion of the construction sector, where these resins are critical for protective architectural finishes, and the automotive industry, which demands high-performance coatings for corrosion protection and aesthetic appeal. Distinct from temporary trends, the core drivers of this market remain the fundamental industrial necessity for substrate preservation and the increasing global requirement for long-lasting infrastructure and transportation assets.

However, the industry faces a significant challenge regarding the volatility of raw material prices, particularly those derived from crude oil, which can unpredictably impact production costs and profit margins. This economic uncertainty creates difficulties for manufacturers in maintaining stable pricing structures for their clients. In terms of market scale, the downstream demand remains robust; according to the American Coatings Association, in 2025, the global paint and coatings industry, which directly dictates resin consumption, is valued at $202 billion. This substantial valuation underscores the critical role resins play within the broader manufacturing and construction value chains.

Key Market Drivers

The implementation of stringent environmental regulations and the subsequent rise in demand for waterborne and bio-based green coating technologies constitute a primary catalyst for market evolution. Regulatory bodies globally are enforcing tighter limits on volatile organic compounds, compelling resin manufacturers to transition from traditional solvent-based systems to sustainable alternatives like waterborne epoxies and bio-based polyurethanes. This structural shift is no longer merely compliance-driven but is increasingly tied to commercial performance and corporate sustainability goals. According to PPG, April 2024, in the '2023 ESG Report', sales of sustainably advantaged products comprised 44% of the company's total portfolio, illustrating the substantial revenue reliance on eco-efficient formulations. Consequently, producers are prioritizing research and development investments into low-carbon chemistries to secure long-term contracts with environmentally conscious automotive and architectural clients.

Simultaneously, the expansion of global construction and infrastructure development projects acts as a critical volume driver for coating resins. Rapid urbanization in emerging economies necessitates vast quantities of protective coatings for steel, concrete, and residential structures, thereby fueling the consumption of acrylic, alkyd, and epoxy binders to ensure structural longevity. According to the Press Information Bureau, February 2024, in the 'Interim Budget 2024-25', the Government of India increased the capital expenditure outlay for infrastructure development by 11.1%, signaling a massive intake of construction chemicals in key growth regions. To support such broad industrial demand, the upstream chemical supply chain must maintain immense throughput. According to BASF, in 2024, the group generated sales of €68.9 billion for the preceding fiscal year, reflecting the substantial economic magnitude of the chemical sectors that underpin global coating applications.

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Key Market Challenges

The volatility of raw material prices, particularly those derived from crude oil, constitutes a substantial impediment to the growth of the coating resins market. Since resins are chemically engineered from feedstocks like epoxies and acrylics, their production costs are intrinsically linked to the fluctuating global oil market. This instability creates an unpredictable financial environment where manufacturers struggle to maintain consistent pricing, forcing them to either absorb cost spikes, which erodes profit margins, or pass them downstream, which can stifle market demand.

This dynamic of cost uncertainty directly impacts production volumes and industry turnover. When raw material costs surge or fluctuate wildly, the downstream paint and coatings sector—the primary consumer of these resins—often contracts due to pricing pressures. Evidence of this strain is visible in key manufacturing hubs which reflect the broader market sentiment. According to the Verband der deutschen Lack- und Druckfarbenindustrie (VdL), in 2024, the sales volume of the paint and printing ink industry decreased by 4% to 1.4 million tonnes. This decline underscores how raw material instability disrupts the value chain, ultimately restricting the resin market’s potential for expansion.

Key Market Trends

The proliferation of UV-curable and radiation-cured systems is reshaping the market by enabling rapid processing speeds and reduced energy intensity. Unlike traditional thermal curing, these resins polymerize instantly upon exposure to ultraviolet light or electron beams, significantly boosting throughput for high-volume applications such as packaging and industrial electronics. This shift is technically driven by the need to eliminate long drying times and minimize the operational footprint of curing ovens, offering a distinct advantage over solvent-borne alternatives. According to RadTech, June 2024, in the 'RadTech 2024 Exceeds Expectations' press release, the use of UV and electron beam formulated products in North America is projected to grow by over 5% per year over the next three years, reflecting the accelerating industrial reliance on these fast-curing technologies.

The expansion of powder coating resins onto heat-sensitive substrates represents a technological breakthrough extending the market beyond traditional metals to materials like wood and medium-density fiberboard (MDF). Manufacturers are developing low-cure resin formulations that polymerize at significantly lower temperatures, preventing thermal damage to the substrate while maintaining the durability and finish quality of standard powder coatings. This innovation opens new revenue streams in the furniture and architectural joinery sectors, creating market opportunities distinct from heavy infrastructure applications. According to AkzoNobel, September 2024, in the 'AkzoNobel Launches Revolutionary Ultra-Durable Low-Temperature Powder Coating' announcement, the company’s new Interpon D2525 Low-E range enables curing at temperatures as low as 150°C, which reduces energy consumption by up to 20% compared to conventional curing processes.

Segmental Insights

The Epoxy segment is projected to witness the fastest growth in the Global Coating Resins Market due to its extensive utilization in industrial paints and heavy-duty protective coatings. This expansion is largely fueled by the material's robust mechanical properties, including high corrosion resistance and strong adhesion to metal substrates. Additionally, innovation in water-based epoxy technologies enables manufacturers to adhere to strict emission regulations set by the Environmental Protection Agency. Consequently, the rising need for long-lasting infrastructure maintenance and automotive durability continues to accelerate the adoption of epoxy-based solutions globally.

Regional Insights

Based on data from trusted market research, Asia Pacific commands the leading position in the Global Coating Resins Market due to robust industrial expansion and rapid urbanization, particularly in China and India. The region’s dominance is anchored by a thriving construction sector that creates consistent demand for architectural coatings. Additionally, Asia Pacific serves as a massive global manufacturing hub for the automotive and electronics industries, necessitating extensive supplies of protective resin formulations. Continuous government support for infrastructure development further sustains this momentum, establishing the region as the primary consumer and producer within the global supply chain.

Recent Developments

In October 2024, Allnex announced a strategic investment in its East St. Louis facility to establish it as the primary United States location for solvent-borne resin production. This decision followed a comprehensive assessment aimed at optimizing operations and ensuring reliable supply for local and regional customers. As part of this realignment, the company disclosed plans to cease solvent-borne reactor operations at its Louisville, Kentucky, site by the end of 2025, while retaining that facility for other specific research and blending activities. The move was intended to enhance operational efficiency and support sustainable growth in the coating resins sector.
In June 2024, Arkema announced a breakthrough in its manufacturing processes by launching a new range of powder coating resins containing up to 40 percent post-consumer recycled PET from end-of-life packaging. This innovation was designed to significantly reduce the product carbon footprint by up to 20 percent while maintaining high performance standards. The company positioned this development as a key step in supporting the circular economy and enabling end markets to increase the percentage of recycled content in their finished products. The initiative reflected the company's broader strategy to provide sustainable material solutions for the coatings industry.
In April 2024, Westlake Epoxy introduced a range of new lower yellowing epoxy products at a major industry trade show in Indianapolis. The launch featured a deep pour lower yellowing epoxy system, which combined a specific epoxy research resin with a curing agent to extend set time and lower exotherm temperature. Additionally, the company presented a new curing agent designed to provide superior yellowing resistance and improved gloss retention when used with standard epoxy resins. These innovations were developed to meet the evolving performance and aesthetic requirements of the global coating resins market.
In February 2024, Covestro announced the development of a new family of waterborne and waterborne UV resins tailored for industrial coating applications. These high-performing resins were designed to address the growing regulatory and public demand for sustainable, water-based solutions in sectors such as wood furniture, cabinetry, and building products. The company highlighted that these innovative resins offer fast-drying efficiency, excellent stability, and improved chemical resistance, allowing manufacturers to improve factory efficiency and reduce rework. This launch underscored the organization's commitment to driving the industrial coatings market toward circularity and sustainability.

Key Market Players

BASF SE
Covestro AG
Arkema S.A.
Dow Chemical Company
Allnex USA Inc.
Evonik Industries AG
The Sherwin-Williams Company
Huntsman International LLC
Mitsubishi Chemicals Corporation
Toray Industries, Inc.

By Type	By Technology	By Application	By Region
Acrylic Alkyd Vinyl Polyurethane Epoxy Others	Waterborne Coatings Solvent-borne Coatings Powder Coatings	Architectural Coatings Marine & Protective Coatings General Industrial Coatings Automotive Coatings Wood Coatings Packaging Coatings Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Coating Resins Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Coating Resins Market, By Type:

Acrylic
Alkyd
Vinyl
Polyurethane
Epoxy
Others

Coating Resins Market, By Technology:

Waterborne Coatings
Solvent-borne Coatings
Powder Coatings

Coating Resins Market, By Application:

Architectural Coatings
Marine & Protective Coatings
General Industrial Coatings
Automotive Coatings
Wood Coatings
Packaging Coatings
Others

Coating Resins Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Coating Resins Market.

Available Customizations:

Global Coating Resins Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Coating Resins Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Coating Resins Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Acrylic, Alkyd, Vinyl, Polyurethane, Epoxy, Others)

5.2.2. By Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings)

5.2.3. By Application (Architectural Coatings, Marine & Protective Coatings, General Industrial Coatings, Automotive Coatings, Wood Coatings, Packaging Coatings, Others)

5.2.4. By Region

5.2.5. By Company (2025)

5.3. Market Map

6. North America Coating Resins Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Technology

6.2.3. By Application

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States Coating Resins Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Technology

6.3.1.2.3. By Application

6.3.2. Canada Coating Resins Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Technology

6.3.2.2.3. By Application

6.3.3. Mexico Coating Resins Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Technology

6.3.3.2.3. By Application

7. Europe Coating Resins Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Technology

7.2.3. By Application

7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Coating Resins Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Technology

7.3.1.2.3. By Application

7.3.2. France Coating Resins Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Technology

7.3.2.2.3. By Application

7.3.3. United Kingdom Coating Resins Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Technology

7.3.3.2.3. By Application

7.3.4. Italy Coating Resins Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Technology

7.3.4.2.3. By Application

7.3.5. Spain Coating Resins Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Technology

7.3.5.2.3. By Application

8. Asia Pacific Coating Resins Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Technology

8.2.3. By Application

8.2.4. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Coating Resins Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Technology

8.3.1.2.3. By Application

8.3.2. India Coating Resins Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Technology

8.3.2.2.3. By Application

8.3.3. Japan Coating Resins Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Technology

8.3.3.2.3. By Application

8.3.4. South Korea Coating Resins Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Technology

8.3.4.2.3. By Application

8.3.5. Australia Coating Resins Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Technology

8.3.5.2.3. By Application

9. Middle East & Africa Coating Resins Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Technology

9.2.3. By Application

9.2.4. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Coating Resins Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Technology

9.3.1.2.3. By Application

9.3.2. UAE Coating Resins Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Technology

9.3.2.2.3. By Application

9.3.3. South Africa Coating Resins Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type

9.3.3.2.2. By Technology

9.3.3.2.3. By Application

10. South America Coating Resins Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Technology

10.2.3. By Application

10.2.4. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Coating Resins Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Technology

10.3.1.2.3. By Application

10.3.2. Colombia Coating Resins Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Technology

10.3.2.2.3. By Application

10.3.3. Argentina Coating Resins Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Technology

10.3.3.2.3. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Coating Resins Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. BASF SE

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Covestro AG

15.3. Arkema S.A.

15.4. Dow Chemical Company

15.5. Allnex USA Inc.

15.6. Evonik Industries AG

15.7. The Sherwin-Williams Company

15.8. Huntsman International LLC

15.9. Mitsubishi Chemicals Corporation

15.10. Toray Industries, Inc.

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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