Polyester coatings are also called as oil-free alkyds coatings and used can be used as substitute for alkyd resins. These are most widely used coatings due to low cost, high acceptance and versatility. Polyester coatings can be tailored with additives for specific end-use applications. These offers high flexibility, hardness, chemical resistance and high strength. The applications of polyester coatings include construction, automotive, OEM coatings, infrastructure, aviation, industrial coatings and packaging.
Growing demand for polyester coatings from construction industry is expected to drive the market growth. Demand for construction is due to growing population and rising disposable income of middle class. Owing to rising income in developing countries people are going for second home plans as investment option that is driving the construction industry. Further increasing investment in infrastructure building is expected to drive the polyester market. Governments bodies are investing heavily in improving overall infrastructure of own countries. These infrastructure projects include domestic as well as industrial and transportation infrastructure. In addition demand from OEM coating is expected to boost the market for polyester coatings.
OEM coatings include coil coatings, paper & paperboard coatings, powder coatings, radiation cured coatings, wood furniture & composition board finishing, appliances coatings. The demand for OEM coatings is rising with changing lifestyle and improving per capita income across the globe. Rising demand from special purpose customized coating is expected to boost the polyester coatings market growth. Special purpose coatings include marine coatings, industrial maintenance, aerosol coatings, automotive coatings, wind energy and aerospace coatings.
However, volatile raw materials and environmental regulations are expected to inhibit the market growth for polyester coatings market. Polyester coatings are manufactured from ethylene which is a petroleum derivative and is subjected to crude oil price volatility. Additionally, polyester coatings are required to have solvents for solubility and application on the surface. These solvents are environmentally hazardous and pose threat to human health as well. Therefore, environmental regulations by governments’ bodies are expected to hamper the polyester paintings market growth.
Customized coatings for specific applications and bio-based polyester coatings are expected to provide opportunities for the players in this market. Bio-based polyester coatings are manufactured from renewable raw materials and are biodegradable. Further, waterborne polyester coating is expected to be new opportunity, as they are environment friendly as compared to solvent based coatings.
Asia Pacific was largest market for polyester coatings in terms of consumption with China contributing highest to the demand. Few multi-functional producers of coatings and resins have established their manufacturing plants in China due to high demand. Construction industry and hybrid coatings are expected to drive the polyester coatings market in this region. Demand from Japan has declined significantly in last few years due to high performance, high cost alternatives available in this region. Due to enacted legislation in some part of North America and Europe, the demand for polyester coatings has declined. Players are developing new products those meet requirements of the regulations in these regions. Demand for waterborne polyester coatings is gaining momentum in this region due to low to no solvents. Market for polyester coatings in Europe is experiencing very slow growth rate due to strict environmental regulations.
Global polyesters coatings market is highly fragmented with few major international companies dominating the market. Some of the major players in the polyester coatings market are AGC Chemicals, The Dow Chemical Company, BASF SE, Huntsman Corporation, Du Pont, 3M Company, Momentive Chemicals among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments