Powder Polyester Resins Market: Overview
Powder polyester resins have been extensively used for a range of coatings applications. Bereft of the need for organic solvents or water, they have surfaced as an increasingly environmentally friendly coating option. These resins largely function based on Triglycidyl Isicyanurate (TGIC) cross linking technology. Automakers have emerged as a vast consumer in the powder polyester resins, using them for coating lightweight vehicles, where they serve protection as well as aesthetics purposes. The increasing shift from solvent-borne coatings to powder coatings is a key growth dynamic of the powder polyester resins market. Changing regulatory landscape pertaining to the use of TGIC powder polyester resins has helped shape the contours of the powder polyester resins market. Further, TGIC and TGIC-free are both used in coating systems and shape the growth dynamics of the market.
Key end users in the powder polyester resins market are oil and gas, automotive and aerospace, electrical and electronics, and chemical sectors. These resins are also utilized in coating surfaces in the building and construction industry, especially for residential and commercial buildings.
Powder Polyester Resins Market: Key Trends
The advent of ultra-low curing systems has led to the development of technologically advanced products in the powder polyester resin market. Growing demand for durable powder coatings in exterior surface application is also boosting opportunities for coating formulators and other industry players. Formulators are focusing on improving the properties of these resins in terms of superior mechanical properties, such as remarkable flow and levelling.
The powder polyester resins market has also gathered some momentum from the demand for products that show a good cross-computability within the coating systems. Rising efforts of players in fabricating polyester-epoxy hybrids, and super durable polyester coatings is boosting the market.
Powder Polyester Resins Market: Competitive Analysis and Key Developments
Growing focus on improving the performance of formulated powder coating is a key driver for the product advances in the powder polyester resins market. Such efforts have also increased the versatility of these coating systems. The increasing trend of fine-tuning of formulations via the use of specialized additives is boosting the powder polyester resins market.
Most prominent players in the powder polyester resin market are leaning on reinforcing the efforts of powder coating formulators. They are ramping up investments in research and development centers, especially in markets of Europe and North America. Some are expanding their portfolio of curing agents and additives. Top players are keen on delivering innovative solutions and novel chemistries of polyester resins to end users to strengthen their position.
Some of the key players in the powder polyester resins market are Karna Paints Pvt. Ltd., DSM., Evonik Industries AG, Marpol Private Limited, and DIC Corporation.
A few aspiring players are resorting to vertical integration to have a better control of raw materials price fluctuations, and hence gain a steady stream of revenues over the forecast period. Regulations pertaining to minimizing the use of VOC-emissions from the paints and coatings industry in several developing and developed economies have boosted the demand for powder polyester resins.
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Powder Polyester Resins Market: Regional Assessment
Some of the key geographies in the powder polyester resins market are North America, Europe, and the Asia Pacific. Latin America has also been a promising regional market. Rising production of polyester-based powder coatings in Asian and European countries have made these as substantial revenue contributors for the global market. Europe in particular has been a lucrative market due to the fact that industry players have been for long engaged in research and development of better chemistries for curing. Focus on end users on value and performance of coating systems is one of the key growth drivers for the North America powder polyester resins market.
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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.
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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?
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