Polyester Coatings, also known as alkyd resins are manufactured by the combination of purified terephthalic acid (PTA) or dimethyl ester dimethyl terephthalate (DMT) and monoethylene glycol (MEG). These coatings are extensively used in end-use industries to impart thermal stability, lightweight and durable nature to the final product. Moreover, they also provide reliability and versatility to the product.
The Global Polyester Coatings Market is driven by the scope of its application in various sectors such as automotive, construction, packaging, aviation, and others. Moreover, construction segment is set to grow at a higher CAGR owing to the endless use of polyester paint in the sector.
Market Segmentation:
The Global Polyester Coatings Market is classified by the application segment. The market by application is further bifurcated into automotive, construction, packaging, aviation, paints & coatings, and others.
Market Scenario:
Construction holds a major portion of the Polyester Coatings Market. The increasing demand for these polymers is the major factor behind their growth in the market due to unique outdoor durability, corrosion along with physical resistance and other features offered by them. The extensive consumption of these coatings has driven the manufacturers to adopt them in packaging, aviation, paints & coatings, and other sectors. Low cost, quick drying, long life, high standard performance, and others are the major factors behind the growth of polyester coatings in the market. Moreover, the implementation of stringent rules and regulation set by the regulatory bodies in developed and emerging economies is projected to drive the market on a higher scale over the assessment period.
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Competitive Analysis:
Some of the well-known players functioning in the Global Polyester Coatings Market AGC Chemicals Americas (U.S.), BASF SE (Germany), DuPont (U.S.), Momentive (U.S.), The Dow Chemical Company (U.S.), Huntsman International LLC(U.S.), 3M (U.S.), PPG Industries, Inc (U.S.), Axalta Coating Systems, LLC (U.S.) and Akzo Nobel N.V. (the Netherlands) among others.
Regional Analysis:
Geographically, Polyester Coatings Market is segmented across five regions in the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a majority of the market share due to advantages offered by the product and growing need for high-performance coatings in major industries. North America is set to grow at a higher rate owing to growing demand for the product in packaging, aviation, paints & coatings, and other sectors. In this region, the manufacturers and investors are shifting their focus to create an eco-friendly product in end-use applications. The enactment of new rules and regulations to use Polyester Coatings in major industries has driven the market in the European region. Due to boundless consumption of the product in automotive, aviation, construction, and others, Latin American region is estimated to witness a moderate growth in the market. The rising demand for superior performance coatings in the construction sector is projected to drive the market in the Middle East & African region during the forecast period.
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