According to MarketsandMarkets, the polyurethane segment is projected to account for the largest share of the coating resins market, by resin type, during the forecast period. This segment is projected to account for the largest share and witness the highest CAGR during the forecast period because of its use in varied applications. Meanwhile, the automotive coatings segment is projected to be the fastest-growing end-use industry of the coating resins market during the forecast period.
The coating resins market in APAC is projected to register the highest CAGR. The APAC coating resins market is segmented as China, Japan, India, South Korea, Thailand, Indonesia, Singapore, and the Rest of APAC. The APAC region is an emerging and lucrative market for coating resins. This region constitutes, approximately, 61 percent of the global population, resulting in the growth of the building & construction, manufacturing, and automotive sectors.