(MENAFN- PR Newswire) Asia Pacific is the leading market for coating resins. The booming economies such as China, India, Indonesia, and Vietnam fuel the growth in the region. Acrylic resin is an ideal choice for architectural coatings in Asia Pacific. It is in high demand, as it is a low-cost material that provides excellent chemical- and photochemical resistance, stain protection, and water resistance and has superior adhesion to surfaces than other resin types.
Asia Pacific is a rapidly developing region with opportunities for companies keen to invest in high-growth markets. The sustainable coatings (low-VOC) segment is estimated to be one of the leading technology trends in this region as well as globally. By 2030, China is projected to play a key role as the emerging superpower in shipping. The country is expected to see the highest growth in commercial fleet ownership, contrasting Greece and other European countries. Additionally, the economic development of India is expected to become a giant driver of global trade in order of magnitude like China. These developments are expected to drive the demand for coating resins in the marine & protective coatings application.
Key Players
The key players profiled in the coating resins market report are Dow Inc. (US), Allnex GmbH (Germany) (PTT Global Chemical), Covestro AG (Germany), Arkema SA (France), BASF SE (Germany), Huntsman International (US), Synthomer plc (UK), Nan Ya Plastic Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), DIC Corporation (Japan).
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