Global Coatings Raw Materials Market: Overview
According to a recent study, the rising demand for alkyd resins in coatings and paints is likely to drive the growth of the global Coatings Raw Materials Market. Raw materials, in the form of specific chemical elements that are incorporated into paints and coatings, are an extremely complicated and important subset of the wider specialty chemicals sector. They can be used in paint and coating formulations, as well as multi-component coating systems, throughout the production process.
Expanding construction and automotive sector expansion, rapid industrialization across the globe, and increased raw material consumption to produce protective coatings are all anticipated to bode well for the global coatings raw materials market. Raw ingredients can improve the weathering qualities of protective coatings dramatically. In addition to that, the presence of a wide range of coating polymers, increased printing ink output, and a rising number of technical advancements are all expected to increase demand for coating raw materials. The use of these basic ingredients in printing inks enhances gloss, improves the smoothness, and scratch resistance of the ink.
Transparency Market Research (TMR) has conducted a comprehensive analysis on the global coatings raw materials market. It offers well-researched data on a wide range of market situations in order to provide relevant business input for profit production.
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Global Coatings Raw Materials Market: Notable Developments
To enhance their market share and extend their geographic reach, industry participants are entering into acquisitions, mergers, agreements, joint ventures, and partnerships. Businesses are also concentrating on boosting customer knowledge of the uncertainty around the substances used, while complying with international regulatory norms.
The noted players that are operational in the global coatings raw materials market are Momentive Performance Materials Inc., Eastman Chemical Co., Akzo Nobel NV, PPG Industries Inc., Evonik Industries AG, Arkema SA, and Dow Inc., .
Global Coatings Raw Materials Market: Key Trends
Below-mentioned market trends and opportunities mark the global coatings raw materials market:
Increasing Use in Paints and Coatings to Drive Growth of the Market
The growing demand for alkyd resins in paints and coatings is likely to propel the global coatings raw materials market forward, while market expansion can be hampered by factors such as changing crude oil prices. The advent of innovative application techniques, together with rising demand for high-performance fluorine resin-based coatings, is further likely to offer enormous potential for development of the global Coatings Raw Materials Market in the forecast period.
Flexibility in crude oil prices, as well as growing public awareness about environmental concerns, are predicted to function as market restrictions for the expansion of coatings raw materials in the forecasted period. Stringent VOC restrictions will be one of the main and most significant impediment to the market's expansion.
This market study on coatings raw materials includes information on production analysis, current developments, trade restrictions, value chain optimization, import-export analysis, and the influence of domestic and localized market participants. It also examines potential in terms of new income streams, regulatory changes, strategic market growth assessments, and market size.
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Global Coatings Raw Materials Market: Geographical Analysis
Due to fast industrialization, an expanding automotive industry, a developing construction sector, as well as the presence of several market participants in the area, Asia-Pacific is likely to dominate the global Coatings Raw Materials Market. In Asia Pacific China is a major market for coatings raw materials.
Asia Pacific has been experiencing rapid expansion and is likely to provide market players with huge commercial prospects during the forecast period. The rising demand for coatings raw materials in the construction sector is one of the primary reasons driving growth in Asia Pacific.
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
- 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.