Polyester Coatings Market By Technology (Solvent based, Water based, & Powder based), By Type (Polyester-Melamine Coatings, Polyester-Urethane Coatings, Polyester-Acrylate Coatings, Polyester-Epoxy Coatings, & Others), By Product (Paraffinic & Non-paraffinic), By Application (Wooden Floor, Sport Equipment, Power Tools, Garden Equipment, Household Appliances, & Others), By End Use (Automotive (Passenger Cars, Light Commercial Vehicle, & Heavy Commercial Vehicle), Constructions (Residential, Commercial, & Industrial), Aerospace, Marine Industry, Furniture (Wooden Sofas, Wooden Table, Wooden Chairs, & Others), & Others) - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 31983 Report Format: PDF + Excel

Polyester Coatings Market Overview

Polyester Coatings Market size is estimated to reach US$17.5 billion by 2027 after growing at a CAGR of 5.5% during 2022-2027. Polyesters are acidic and hydroxyl functional resins. These polyester resins are prepared from condensation of polyhydric alcohols and dibasic or tribasic or anhydrides. It has wide variety of industrial applications ranging from aviation and construction to gardening and furniture. Majorly polyesters are used as the thermoplastic polymers in coatings providing adhesion and resistance to hydrolysis and weathering. It comes in different technologies like solvent based coating, water-based coating and powder based coating. Alkyd resins and organic polyesters are vegetable oil modified polyesters. It is mainly used in metal casting. A fluorocarbon based plastic resins are called Fluoropolymers. It has a high resistance to acidic and basic compounds. Epoxy polyester hybrid are commonly used in powder coatings. It provides high resistance to chemicals and corrosion.

COVID-19 Impact

Many of the industries across the globe have faced several challenges due to the COVID-19 pandemic. The industries such as automotive, constructions, and aerospace including many others have experienced pitfalls. Many projects in such industries have been halted due to an interrupted supply chain and employee shortages due to quarantines. Also, the production and demand in polyester coatings industry has declined due to an interrupted supply chain and cessation in transportation of raw materials. According to the article published by Business News Today, there was a sharp decrease in the production of household appliances due to complete factory shut down in 75 districts in India. Thus, the global pause in industrial production and distribution, the demand and consumption of polyester coatings has hampered to an extent in several industries. 

Report Coverage

The “Polyester Coatings Market Report – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the polyester coatings industry.

By Technology: Solvent based, Water based, and Powder based
By Type: Polyester-Melamine Coatings, Polyester-Urethane Coatings, Polyester-Acrylate Coatings, Polyester-Epoxy Coatings, and Others
By Product: Paraffinic and Non-paraffinic
By Application: Wooden Floor, Sport Equipment, Power Tools, Garden Equipment, Household Appliances, and Others
By End Use: Automotive (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), Constructions (Residential, Commercial, and Industrial), Aerospace, Marine Industry, Furniture (Wooden Sofas, Wooden Table, Wooden Chairs, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), and South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East and Africa)

Key Takeaways

  • Asia Pacific is the fastest growing region in the global Polyester Coatings Market. This growth is mainly attributed to the increased demand for sustainable products mainly in industrial coatings.
  • Polyester coating is expected to grow at a substantial rate owing to the surge in demand from construction industry. 
  • Polyester coatings play an important role in several industries especially in the household appliances which is expected to provide significant growth opportunity for the global market.

Figure: Asia Pacific Polyester Coatings Market Revenue, 2021-2027 (US$ Billion)

Polyester Coatings Market Revenue

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Polyester Coatings Market Segment Analysis – By Technology

The water based segment held the largest Polyester Coatings Market share in 2021 and it is expected to grow with a CAGR of around 6.0% during the forecast period. This is owing to an increase in the use of water-borne coatings by automobiles and residential construction. Water-based coatings are both cost-effective and high-quality. Water-based polyester have inherited the benefits of oily polyester, but also outperformed solvent-based polyester in some areas. In recent years, a rise in oil prices has caused the price of solvent-based paint to rise, to the point where some solvent-based paints are now more expensive than water-based paints. This type of situation has boosted the development of water-based paints and coatings, making some water-based coatings exciting best-selling situations; it is a lucrative opportunity for the development of water-based coatings.

Polyester Coatings Market Segment Analysis – By End-Use Industry

The construction segment held the largest Polyester Coatings Market share in 2021 and it is expected to grow with a CAGR of around 5.1% during the forecast period. The creation of households, which is a significant demand driver for the coatings sector, is favorable and growing. Overall, housing demand is high, but supply of affordable houses is restricted, implying the rise in housing prices. According to Invest India, infrastructure activities accounted for 13% share of the overall FDI inflows of US$81.72 billion for FY21. Throughout the COVID 2020 timeframe, fresh real estate construction was at halt but repairs, remodels, and maintenance experienced a significant increase, leading in a major increase for architectural coatings. Thus, surge in demand of paints and coatings in construction sector is boosting the global Polyester Coatings Market.

Polyester Coatings Market Segment Analysis – By Geography

The Asia Pacific is the leading region accounted for the largest share in the Polyester Coatings Market in 2021 and held nearly 32% of market share. Increase in construction projects in Asia Pacific is boosting the demand for paints and coatings. According to ECHEMI Technology Co., Ltd., Asia Pacific is the leading region in world accounting for around 50% of global coating market and sales of US$92 billion in 2020. After facing significant downturn due to pandemic construction industry in gaining pace. Both residential and commercial segments are witnessing increasing number of projects. As the Polyester resins are one of the major raw materials in paint manufacturing it has a direct impact on Polyester Coatings Market. Thus, the growth in construction industry and surge in demand for paints and coating, in turn boosts the market growth.

Polyester Coatings Market – Drivers

Surge in Building and Construction Activities

Polyesters resins are extensively used in the manufacturing of paints and coatings. Polyester coating enhances the overall characteristics of paint in terms of better physical and chemical qualities than acrylic paint. It is the perfect paint for dressing up high-end furniture. It has a durable, wear-resistant, water-resistant and heat-resistant. It also offers chemical-resistant quality to paint which provides resistance to dilute acids, alkalis, solvents, oils, and other chemicals, as well as good insulation. The film of paint made up of Ployester coating has a plump, thick appearance with an extraordinarily high shine. The varnish is highly decorative and has a light hue, great transparency, good gloss, and color retention. Such paint is mostly used for furniture, wood flooring, metal corrosion protection, and other applications. The increased construction activities across the globe boosting the demand for such paintsand, eventually Polyester coatings. For instance, as per European Union, in December 2021, construction of building increased by 4.6% and civil engineering by 3.3% compared to 2020. Thus, the growth in construction sector increases the demand for coatings, in turn, fueling the growth of global Polyester Coatings Market.

Growth in Home Appliances

Polyester based powder coating is used in home appliances for high quality finishing. It also provides resistance to corrosion. Due to rising demand from important nations such as China and India over the projection period, Asia-Pacific is expected to be the largest market in the coming years. In Asia-Pacific, the home appliance sector is booming, especially in large markets like China, India, and other ASEAN countries. The rise in disposable incomes and the increase in population are driving growth in the home appliance market. In recent years, rising refrigerator usage has fueled market expansion in various nations, including China and India. The demand for household appliances is increasing at a rapid pace in Asia-Pacific countries as a result of the region's constant economic expansion. For instance, as stated by China Daily, the home appliances industry in China is expected to grow by 3.8% in 2021. China is the largest manufacturer of home appliances accounting for 60 to 70 % global production. Thus, growth of home appliance industry is boosting the demand for polyester coatings.

Polyester Coatings Market – Challenges

Eco-friendly coatings

Eco-friendly products are gaining appeal in the global market, which is driving up demand for coatings resins. Volatile organic compounds are emitted in synthetic polyester coating and it hampers air quality. Exposure to such compounds also has an adverse impact on health. Smart coatings, such as aqueous alkyd, are also displacing traditional coatings. Green coating product, with low concentration of volatile organic compounds (VOC), is likely to be a leading trend in future. Thus, the emergence of eco-friendly coatings may hinder the market growth.

Polyester Coatings Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polyester Coatings Market. Polyester Coatings Market top 10 companies include -

1. 3M Company
2. Dupont
3. BASF SE
4. AGC Chemicals
5. Dow Chemical Company
6. AkzoNobel
7. PPG Industries
8. Momentive Chemicals
9. Arkema
10. ICA Group

Recent Developments

  • In October 2021, AkzoNobel launched new Anti-Viral coating, Dulux Wash & Wear Anti-Viral paint in Singapore. It is based on silver ion technology and it is effective against some viruses such as human NL-63 coronavirus.
  • In September 2021, Axalta Coating Systems, a leading brand in powder & liquid coating, completed the acquisition of the U-POL Holdings Limited. This has strengthened company’s position in global market.
  • In November 2020, the new Joncryl 953X range for water-based 1K systems was created by BASF to protect and enhance the beauty of wood while also meeting sustainability requirements. Five straight acrylic dispersions are included in the Joncryl 953X portfolio. These are all multipurpose providing chemical resistance, scratch resistance and hardness.

Relevant Reports

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1. Polyester Coatings Market- Market Overview
    1.1 Definitions and Scope
2. Polyester Coatings Market - Executive Summary
    2.1 Key Trends by Technology
    2.2 Key Trends by Type
    2.3 Key Trends by Product
    2.4 Key Trends by Application
    2.5 Key Trends by End Use Industry
    2.6 Key Trends by Geography
3. Polyester Coatings Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Polyester Coatings Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Polyester Coatings Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Polyester Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Polyester Coatings Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Polyester Coatings Market – By Technology (Market Size -$Million/Billion)
    8.1 Solvent Based
    8.2 Water Based
    8.3 Powder Based
9. Polyester Coatings Market – By Type (Market Size -$Million/Billion)
    9.1 Polyester-Melamine Coatings
    9.2 Polyester-Urethane Coatings
    9.3 Polyester-Acrylate Coatings 
    9.4 Polyester-Epoxy Coatings
    9.5 Others
10. Polyester Coatings Market – By Product (Market Size -$Million/Billion)
    10.1 Paraffinic
    10.2 Non-paraffinic
11. Polyester Coatings Market – By Application (Market Size -$Million/Billion)
    11.1 Wooden Floor
    11.2 Sport Equipment
    11.3 Power Tools
    11.4 Garden Equipment
    11.5 Household Appliances
    11.6 Others
12. Polyester Coatings Market – By End Use Industry (Market Size -$Million/Billion)
    12.1 Automotive
        12.1.1 Passenger Cars
        12.1.2 Light Commercial Vehicle
        12.1.3 Heavy Commercial Vehicle
    12.2 Construction
        12.2.1 Residential
        12.2.2 Commercial
        12.2.3 Industrial
    12.3 Aerospace 
    12.4 Marine Industry
    12.5 Furniture
        12.5.1 Wooden Sofas
        12.5.2 Wooden Table
        12.5.3 Wooden Chairs 
        12.5.4 Others
    12.6 Others
13. Polyester Coatings Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Netherlands
        13.2.6 Spain
        13.2.7 Russia
        13.2.8 Belgium
        13.2.9 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zeeland
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 Middle East
            13.5.1.1 Saudi Arabia
            13.5.1.2 UAE
            13.5.1.3 Israel
            13.5.1.4 Rest of the Middle East
        13.5.2 Africa
            13.5.2.1 South Africa
            13.5.2.2 Nigeria
            13.5.2.3 Rest of Africa
14. Polyester Coatings Market – Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. Polyester Coatings Market – Industry/Competition Segment Analysis Premium
    15.1 Company Benchmarking Matrix – Major Companies
    15.2 Market Share at Global Level - Major companies
    15.3 Market Share by Key Region - Major companies
    15.4 Market Share by Key Country - Major companies
    15.5 Market Share by Key Product Type/Product category - Major companies
16. Polyester Coatings Market – Key Company List by Country Premium Premium
17. Polyester Coatings Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies*"
LIST OF TABLES

1.Global Key Manufacturers Market 2019-2024 ($M)
1.1 3 M Company Market 2019-2024 ($M) - Global Industry Research
1.2 PPG Market 2019-2024 ($M) - Global Industry Research
1.3 DuPont Market 2019-2024 ($M) - Global Industry Research
1.4 AkzoNobel Market 2019-2024 ($M) - Global Industry Research
1.5 BASF Market 2019-2024 ($M) - Global Industry Research
1.6 Momentive Chemicals Market 2019-2024 ($M) - Global Industry Research
1.7 AGC Chemicals Market 2019-2024 ($M) - Global Industry Research
1.8 Dow Chemical Company Market 2019-2024 ($M) - Global Industry Research
1.9 ICA Group Market 2019-2024 ($M) - Global Industry Research
1.10 IVM Group Market 2019-2024 ($M) - Global Industry Research
1.11 Jotun Group Market 2019-2024 ($M) - Global Industry Research
2.Global Key Manufacturers Market 2019-2024 (Volume/Units)
2.1 3 M Company Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 PPG Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 DuPont Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 AkzoNobel Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 BASF Market 2019-2024 (Volume/Units) - Global Industry Research
2.6 Momentive Chemicals Market 2019-2024 (Volume/Units) - Global Industry Research
2.7 AGC Chemicals Market 2019-2024 (Volume/Units) - Global Industry Research
2.8 Dow Chemical Company Market 2019-2024 (Volume/Units) - Global Industry Research
2.9 ICA Group Market 2019-2024 (Volume/Units) - Global Industry Research
2.10 IVM Group Market 2019-2024 (Volume/Units) - Global Industry Research
2.11 Jotun Group Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Key Manufacturers Market 2019-2024 ($M)
3.1 3 M Company Market 2019-2024 ($M) - Regional Industry Research
3.2 PPG Market 2019-2024 ($M) - Regional Industry Research
3.3 DuPont Market 2019-2024 ($M) - Regional Industry Research
3.4 AkzoNobel Market 2019-2024 ($M) - Regional Industry Research
3.5 BASF Market 2019-2024 ($M) - Regional Industry Research
3.6 Momentive Chemicals Market 2019-2024 ($M) - Regional Industry Research
3.7 AGC Chemicals Market 2019-2024 ($M) - Regional Industry Research
3.8 Dow Chemical Company Market 2019-2024 ($M) - Regional Industry Research
3.9 ICA Group Market 2019-2024 ($M) - Regional Industry Research
3.10 IVM Group Market 2019-2024 ($M) - Regional Industry Research
3.11 Jotun Group Market 2019-2024 ($M) - Regional Industry Research
4.South America Key Manufacturers Market 2019-2024 ($M)
4.1 3 M Company Market 2019-2024 ($M) - Regional Industry Research
4.2 PPG Market 2019-2024 ($M) - Regional Industry Research
4.3 DuPont Market 2019-2024 ($M) - Regional Industry Research
4.4 AkzoNobel Market 2019-2024 ($M) - Regional Industry Research
4.5 BASF Market 2019-2024 ($M) - Regional Industry Research
4.6 Momentive Chemicals Market 2019-2024 ($M) - Regional Industry Research
4.7 AGC Chemicals Market 2019-2024 ($M) - Regional Industry Research
4.8 Dow Chemical Company Market 2019-2024 ($M) - Regional Industry Research
4.9 ICA Group Market 2019-2024 ($M) - Regional Industry Research
4.10 IVM Group Market 2019-2024 ($M) - Regional Industry Research
4.11 Jotun Group Market 2019-2024 ($M) - Regional Industry Research
5.Europe Key Manufacturers Market 2019-2024 ($M)
5.1 3 M Company Market 2019-2024 ($M) - Regional Industry Research
5.2 PPG Market 2019-2024 ($M) - Regional Industry Research
5.3 DuPont Market 2019-2024 ($M) - Regional Industry Research
5.4 AkzoNobel Market 2019-2024 ($M) - Regional Industry Research
5.5 BASF Market 2019-2024 ($M) - Regional Industry Research
5.6 Momentive Chemicals Market 2019-2024 ($M) - Regional Industry Research
5.7 AGC Chemicals Market 2019-2024 ($M) - Regional Industry Research
5.8 Dow Chemical Company Market 2019-2024 ($M) - Regional Industry Research
5.9 ICA Group Market 2019-2024 ($M) - Regional Industry Research
5.10 IVM Group Market 2019-2024 ($M) - Regional Industry Research
5.11 Jotun Group Market 2019-2024 ($M) - Regional Industry Research
6.APAC Key Manufacturers Market 2019-2024 ($M)
6.1 3 M Company Market 2019-2024 ($M) - Regional Industry Research
6.2 PPG Market 2019-2024 ($M) - Regional Industry Research
6.3 DuPont Market 2019-2024 ($M) - Regional Industry Research
6.4 AkzoNobel Market 2019-2024 ($M) - Regional Industry Research
6.5 BASF Market 2019-2024 ($M) - Regional Industry Research
6.6 Momentive Chemicals Market 2019-2024 ($M) - Regional Industry Research
6.7 AGC Chemicals Market 2019-2024 ($M) - Regional Industry Research
6.8 Dow Chemical Company Market 2019-2024 ($M) - Regional Industry Research
6.9 ICA Group Market 2019-2024 ($M) - Regional Industry Research
6.10 IVM Group Market 2019-2024 ($M) - Regional Industry Research
6.11 Jotun Group Market 2019-2024 ($M) - Regional Industry Research
7.MENA Key Manufacturers Market 2019-2024 ($M)
7.1 3 M Company Market 2019-2024 ($M) - Regional Industry Research
7.2 PPG Market 2019-2024 ($M) - Regional Industry Research
7.3 DuPont Market 2019-2024 ($M) - Regional Industry Research
7.4 AkzoNobel Market 2019-2024 ($M) - Regional Industry Research
7.5 BASF Market 2019-2024 ($M) - Regional Industry Research
7.6 Momentive Chemicals Market 2019-2024 ($M) - Regional Industry Research
7.7 AGC Chemicals Market 2019-2024 ($M) - Regional Industry Research
7.8 Dow Chemical Company Market 2019-2024 ($M) - Regional Industry Research
7.9 ICA Group Market 2019-2024 ($M) - Regional Industry Research
7.10 IVM Group Market 2019-2024 ($M) - Regional Industry Research
7.11 Jotun Group Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Polyester Coatings Market Revenue, 2019-2024 ($M)
2.Canada Polyester Coatings Market Revenue, 2019-2024 ($M)
3.Mexico Polyester Coatings Market Revenue, 2019-2024 ($M)
4.Brazil Polyester Coatings Market Revenue, 2019-2024 ($M)
5.Argentina Polyester Coatings Market Revenue, 2019-2024 ($M)
6.Peru Polyester Coatings Market Revenue, 2019-2024 ($M)
7.Colombia Polyester Coatings Market Revenue, 2019-2024 ($M)
8.Chile Polyester Coatings Market Revenue, 2019-2024 ($M)
9.Rest of South America Polyester Coatings Market Revenue, 2019-2024 ($M)
10.UK Polyester Coatings Market Revenue, 2019-2024 ($M)
11.Germany Polyester Coatings Market Revenue, 2019-2024 ($M)
12.France Polyester Coatings Market Revenue, 2019-2024 ($M)
13.Italy Polyester Coatings Market Revenue, 2019-2024 ($M)
14.Spain Polyester Coatings Market Revenue, 2019-2024 ($M)
15.Rest of Europe Polyester Coatings Market Revenue, 2019-2024 ($M)
16.China Polyester Coatings Market Revenue, 2019-2024 ($M)
17.India Polyester Coatings Market Revenue, 2019-2024 ($M)
18.Japan Polyester Coatings Market Revenue, 2019-2024 ($M)
19.South Korea Polyester Coatings Market Revenue, 2019-2024 ($M)
20.South Africa Polyester Coatings Market Revenue, 2019-2024 ($M)
21.North America Polyester Coatings By Application
22.South America Polyester Coatings By Application
23.Europe Polyester Coatings By Application
24.APAC Polyester Coatings By Application
25.MENA Polyester Coatings By Application