Resins Market in Paints & Coatings: A Sustainable approach towards Environment Concerns

Category: Professional

Resins are used as binders to formulate the paints & coatings products and enhance the performance & functionality based on the resin types. The focus on sustainability and reducing emissions of hazardous organic solvents have motivated companies to produce resins that have low-VOC, waterborne, and VOC-compliant. According to AKI Research, the global resin market in paints and coatings is estimated to value USD 37,417.63 million in 2021, and is poised to grow at a CAGR of 4.72% over the forecast period 2021-2026. The key players in the global resins market in paints & coatings include Arkema, BASF SE, Dow Dupont, Covestro, Evonik Industries, Huntsman International, PTTGC International (Netherlands) B.V. (ALLNEX NETHERLANDS B.V.), Reichhold, Mitsubishi Chemical Corporation, Mitsui Chemicals, Wanhua Chemical Group, Helios Resin, Eastman Chemical Company, DIC Corporation, Perstorp, Solvay, Wacker Chemie, etc. among others. For example; on 20th Oct. 2021, Allnex GmbH has announced the investment of EUR 12 million on the construction of a new state-of-the-art R&D center in Werndorf, Austria which will have a focus on the development of new low-VOC, waterborne and VOC-compliant resins and additives for the global coatings markets. This construction is scheduled for completion in Q3 2022. 5th Oct. 2021, Helios Resins announced that they have ISCC Plus (International Sustainability and Carbon Certification)* certified a range of polyester resins in order to follow strict standards and requirements, which really contributes to environmental responsibility. To read more, check the link please.