Resins Market - Forecast(2021 - 2026)
As per the American Coatings Association, total shipment of products by U.S. paint and coatings manufacturers was estimated to be valued at $28.4 billion in 2017. An extensive array of industries from automotive and civil engineering to coatings and packaging employ resins as an imperative and fundamental constituent across countless industrial and manufacturing processes. This abundant potential has driven the global resin market size towards a staggering $666.5 million in 2018. Resins are synthetic polymers or chemically modified natural resins employed by a wide range of end-user verticals owing to their lucrative traits such as adhesiveness, reactiveness, film-forming properties, high strength, high performance, durability, and unique design properties. Properties such as this are facilitating their usage across multiple industries and leading the resins market to grow at a CAGR of 5.10% during the forecast period of 2019-2025. Resins Market Outlook: Resins market is gr...