Coating Binders Market:  Film-forming Element of Coating

  • Coating binder is the film-forming element of a coating or adhesive. It provides adhesion to a substrate, binds pigments and extenders together, and determines important properties such as flexibility, durability, and gloss.
  • Coating binder is a polymer, often referred to as resin, forming a matrix to hold the pigment in place. This binder may be dissolved as a solution or carried as a dispersion of microscopically small particles in a liquid.
  • Coating binders are majorly used in infrastructure, automotive, and industrial coatings 

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Key Drivers of Coating Binders Market

  • Rapid urbanization and infrastructure growth in emerging economies are driving the demand for coating binders market. Epoxy resins as coating binders are finding large application in the construction and infrastructure sector. Asia Pacific offers immense growth opportunities for manufacturers of coating binders, with substantial expansion in the infrastructure sector in China and India.
  • Water-borne products are gaining popularity in the coatings industry. Acrylic polymers as binders are used widely in paints as water-borne emulsions. These water-borne emulsion paints are used on a large scale as decorative paints for outside and inside of buildings. According to the report by an expert team from Global Construction Perspectives and Oxford Economics, the volume of construction output is likely to rise by 85% worldwide by 2030, driven by India, China, and the U.S.
  • The move toward water-borne coatings can be seen across various regions with stringent regulations on VOC emissions. According to the Paint Quality Institute, water-based paints account for around 80% of household paints sales.
  • Led by the increase in usage of lithium-ion batteries in the automotive sector, manufacturers in the coating binders market are focusing on developing effective coating binder materials that can replace industry standard polyvinylidene fluoride binder, a toxic solvent, with water-based solvent 

Water-borne Coating Technology Segment to Offer Attractive Opportunities

  • Environmental compliance is emerging as a primary reason for various industries shifting toward water-borne coating technology. National, state, and local governments across the globe are regulating VOCs by limiting the amount companies are allowed to emit in a particular time period. Companies are also using water-based coating technology to lower VOC output, as it has no or considerably fewer solvents.
  • The usage of water-based coatings in interior house paint and heavy-duty protective coatings leads to fewer odors that can be uncomfortable and hazardous to the health. This is one of the major reasons for the increase in use of water-based coatings.
  • Demand for structural steel has increased in recent years. This is resulting in the development of water-based intumescent coatings that react under influence of fire. Also, the vast majority of the water-borne intumescent coatings are based on vinyl acetate due to the low-cost and self-charring capacity. 

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Strict Environmental Regulations regarding VOC Content Likely to Hamper Market

  • Strict environmental regulations and rising consumer awareness regarding health are driving the demand for water-based coatings instead of solvent-based coating binders. Governments and regulatory bodies across the globe are introducing strict regulations on the paints & coatings industry to limit the impact of VOC on the environment and human health.
  • Paint manufacturers worldwide are also shifting from solvent-based coating binders to water-based coating binders. China, Latin America, and other developing regions are also planning to introduce regulations on VOCs in paints. Despite existing regulations on VOC in the paints & coatings industry in the U.S. and Europe, these regions are planning to introduce additional regulations to limit VOC in the next five years.
  • Implementation of stringent regulations is adding pressure on solvent manufacturers to develop alternative technologies offering comparable performance. This is also opening new avenues for alternative solvents that boast lower toxicological and ecological profiles. 

Asia Pacific Expected to Hold Major Share of Global Coating Binders Market 

  • Asia Pacific is a leading consumer of coating binders, followed by North America and Europe. Rising demand for automotive coatings in China, Japan, and South Korea is expected to create high demand for coating binders market during the forecast period. Factors such as increasing addressable population base, growth in construction activities, and increase in the number of automobiles are driving the coating binders market in Asia Pacific.
  • Rise in FDI investment in automotive and construction industries in developing economies of Asia Pacific is a key factor likely to fuel the market in the region during the forecast period 

Key Players Operating in Market

Companies operating in the coating binders market are investing to expand their product portfolios and improve their distribution networks. They adopt strategies such as mergers & acquisitions, new product developments, joint ventures, and expansions to cater to the increasing demand for coating binders from different regions. For instance, in April 2016, Arkema S.A. increased capacity of its powder coating resins manufacturing facility in North Kansas City, the U.S., by approximately 35%. Key players operating in the coating binders market include:

  • Arkema S.A.
  • Royal DSM N.V.
  • Allnex Netherlands B.V.
  • DowDuPont
  • The Sherwin Williams Company
  • Evonik Industries AG
  • Polynt-Reichhold
  • Covestro
  • Huntsman International LLC 

Global Coating Binders Market: Research Scope 

Global Coating Binders Market, by Type

  • Acrylics
  • Alkyds
  • Polyesters
  • Polyurethanes
  • Epoxy
  • Vinyl
  • Others

Global Coating Binders Market, by Technology

  • Water-borne Coatings
  • Solvent-borne Coatings
  • Powder Coatings
  • High Solids Coatings
  • Radiation Curable Coatings
  • Others

 Global Coating Binders Market, by Application

  • Architectural Coatings
  • Marine & Protective Coatings
  • General Industrial Coatings
  • Automotive Coatings
  • Wood Coatings
  • Packaging Coatings
  • Others (including Marine and Special Purpose)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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