NEW YORK, July 20, 2021 / PRNewswire / – Technavio is monitoring the coatings raw material market and is poised to grow by 9,808.00 thousand tonnes during the period 2021-2025. The report predicts that the market will grow at a CAGR of 4.64%. Further, the report offers a detailed analysis of the current market scenario, the impact of COVID-19, the latest trends and drivers, and the overall market environment.
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Growing demand for alkyd resins in paints and coatings to drive the growth of the coatings raw materials market. According to Technavio, the increasing demand for coatings raw materials in the construction industry will also have a positive impact on the market and contribute significantly to its growth during the forecast period. This research report also analyzes other important trends and market drivers that will influence the growth of the market during the period 2021-2025.
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Coatings Raw Materials Market: Segmentation Analysis
This market research report segments the Coating Raw Materials market by Type (Resins, Pigments & Fillers, Solvents & Additives) and Geography (APAC, Europe, North America, South America, and MEA).
51% of the market growth will come from APAC during the forecast period. China is a key market for raw materials for APAC coatings. APAC has registered a significant growth rate and is expected to offer several business opportunities to the market vendors during the forecast period. One of the key factors for the growth in APAC is the increasing demand for raw materials for coatings in the construction industry.
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