Synthetic Resin Coating Market

The global Synthetic Resin Coating market was valued at USD 42.4 Billion in 2020 and is projected to reach USD 58.03 Billion by 2028, growing at a CAGR of 4.00%% from 2021 to 2028.

A synthetic resin is a chemical substance that is artificially created to mimic the characteristics of its naturally occurring counterpart. Synthetic resins are noncrystalline or viscous liquids that are secreted from paints.

The global Synthetic Resin Coating market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

An increase in demand from construction and automotive industries to optimize the production, thereby creating an efficient product line is creating a lucrative driver for the market. 

An intense focus on Eco-friendly coating systems to reduce environmental hazards is set to create a lucrative scope for the market. 

Volatile raw material prices and fluctuations in demand due to competition from other industries using resins make it tough for the market to operate and function systematically.

Based on region, the global Synthetic Resin Coating market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Synthetic Resin Coating market are Chinapaint, Pretex, Xiangjiang, Maydos, PPG, Badese, Nipponpain, Shicaile, Axalta, RPM, Austre, Henkel, Carlyle, Jady, AkzoNobel, Basf, Huawang, Carpoly, Diamond, DSM, Levi, Valspar, SKShu. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

• Global Synthetic Resin Coating Market is projected to reach USD 58.03 Billion by 2028
• Asia Pacific held the highest share of the Synthetic Resin Coating market
• Acrylic held the largest share of the product segment in the Synthetic Resin Coating market
• Waterborne coatings held the major share of the application segment in the Synthetic Resin Coating market