Market Size of Resins in Paints and Coatings Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 37.45 Billion |
| Market Size (2029) | USD 48.05 Billion |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Paint & Coating Resins Market Analysis
The Resins in Paints and Coatings Market size is estimated at USD 37.45 billion in 2024, and is expected to reach USD 48.05 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
The outbreak of COVID-19 brought several short-term and long-term consequences across various industries, which, in turn, affected the resins in paints and coatings market across the world. Restrictions on industrial activities, supply chain disruptions, and labor shortages negatively affected the market studied. However, the sector has been recovering since 2021 and witnessed growth in 2022 as well.
- Over the short term, the major factor driving the market studied is the increasing construction activities in the Asia-Pacific region.
- On the other hand, fluctuation in demand due to competition from other industries using resin is likely to hinder the market's growth.
- The advent of eco-friendly resins is projected to offer numerous opportunities for manufacturers during the forecast period.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
