Coating Resins Market
REPORT DESCRIPTION
Coating Resins Market - Asia Pacific Industry Analysis , Size , Share , Growth , Trends and Forecast 2015 - 2023
The Asia Pacific coating resins market is characterized as highly fragmented and competitive in nature , owing to the presence of a large number of players operating in it , states a market intelligence report by Transparency Market Research . The leading players operating in the coating resins market in Asia Pacific , namely Allnex Belgium SA / NV , Arkema S . A ., Nuplex Industries Ltd ., BASF SE , Evonik Industries , Eternal Resin Co . Ltd ., DIC Corporation , and Royal DSM N . V ., collectively led the market and held a share of 50.5 % in 2014 . The Asia Pacific market for coating resins comprises of a large number of medium-scale and large-scale manufacturers . The rising importance of these players on advancements and innovations is estimated to encourage the growth of the overall market in the next few years . This will also allow players to gain a competitive edge in the Asia Pacific coating resins market .
As per the research study , in 2015 , the Asia Pacific market for coating resins was worth US $ 16.23 bn and is projected to reach a value of US $ 27.8 bn by the end of 2023 . The market is anticipated to register a healthy 7.0 % CAGR between 2015 and 2023 .
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Growing Focus on Innovations to Create Opportunities for India Coating Resins Market From a geographical viewpoint , China is expected to lead the coating resins market in Asia Pacific throughout the forecast period and account for a key share in terms of revenue . The high growth of this segment can be attributed to the rising focus on infrastructure development and the rising population . In addition , the booming construction industry is estimated to drive the demand for coating resins in China throughout the forecast period . On the other hand , India is expected to witness substantial growth in the coming few years . The growing focus on innovations and the development of environmentally sustainable technologies are some of the vital factors likely to fuel the growth of the coating resins market in India in the next few years .
In 2015 , the building and construction end use segment led the Asia Pacific coating resins market and is anticipated to continue with its leading position in the next few years . As per the research
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