Polyester Coatings Market size is estimated to reach US$17.5 billion by 2027 after growing at a CAGR of 5.5% during 2022-2027. Polyesters are acidic and hydroxyl functional resins. These polyester resins are prepared from condensation of polyhydric alcohols and dibasic or tribasic or anhydrides. It has wide variety of industrial applications ranging from aviation and construction to gardening and furniture. Majorly polyesters are used as the thermoplastic polymers in coatings providing adhesion and resistance to hydrolysis and weathering. It comes in different technologies like solvent based coating, water-based coating and powder based coating. Alkyd resins and organic polyesters are vegetable oil modified polyesters. It is mainly used in metal casting. A fluorocarbon based plastic resins are called Fluoropolymers.The Polyester Coatings Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape:
The top 5 players in the Polyester Coatings industry are –
1. 3M Company
2. Dupont
3. BASF SE
4. AGC Chemicals
5. Dow Chemical Company
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Segmental Analysis:
1. Water-based coatings are both cost-effective and high-quality. Water-based polyester have inherited the benefits of oily polyester, but also outperformed solvent-based polyester in some areas. In recent years, a rise in oil prices has caused the price of solvent-based paint to rise, to the point where some solvent-based paints are now more expensive than water-based paints.
2. Creation of households, which is a significant demand driver for the coatings sector, is favorable and growing. Overall, housing demand is high, but supply of affordable houses is restricted, implying the rise in housing prices. According to Invest India, infrastructure activities accounted for 13% share of the overall FDI inflows of US$81.72 billion for FY21.
3. According to ECHEMI Technology Co., Ltd., Asia Pacific is the leading region in world accounting for around 50% of global coating market and sales of US$92 billion in 2020. After facing significant downturn due to pandemic construction industry in gaining pace. Both residential and commercial segments are witnessing increasing number of projects.
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Report Coverage |
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Report Attributes |
Details |
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By Technology |
Solvent based, Water based, and Powder based
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By Type |
Polyester-Melamine Coatings, Polyester-Urethane Coatings, Polyester-Acrylate Coatings, Polyester-Epoxy Coatings
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By Product |
Paraffinic and Non-paraffinic |
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By Application |
Wooden Floor, Sport Equipment, Power Tools, Garden Equipment, Household Appliances |
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By End Use |
Automotive , Constructions , Aerospace, Marine Industry, Furniture |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges:
1. Surge in Building and Construction Activities: Polyesters resins are extensively used in the manufacturing of paints and coatings. Polyester coating enhances the overall characteristics of paint in terms of better physical and chemical qualities than acrylic paint. It is the perfect paint for dressing up high-end furniture. It has a durable, wear-resistant, water-resistant and heat-resistant.
2. Growth in Home Appliances: Polyester based powder coating is used in home appliances for high quality finishing. It also provides resistance to corrosion. The rise in disposable incomes and the increase in population are driving growth in the home appliance market. In recent years, rising refrigerator usage has fueled market expansion in various nations, including China and India. The demand for household appliances is increasing at a rapid pace in Asia-Pacific countries as a result of the region’s constant economic expansion.
3. Eco-friendly coatings: Eco-friendly products are gaining appeal in the global market, which is driving up demand for coatings resins. Volatile organic compounds are emitted in synthetic polyester coating and it hampers air quality. Exposure to such compounds also has an adverse impact on health. Smart coatings, such as aqueous alkyd, are also displacing traditional coatings.
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Website: https://www.industryarc.com/Research/Polyester-Coatings-Market-Research-511408