Natural resins are oil based resins typically used in the paints and coatings industry. Natural resins are used in paints and coatings for a wide range of applications such as paints, varnishes and lacquers.
Copal, damar and mastic are the various types of natural resins used in a diverse range of paints and coatings applications. The growing demand for natural resin paints from different end-user industries, especially wood coatings industry, is projected to drive the global natural resin paints market in the coming years.
Natural resins are resins which are derived from plants unlike synthetic resins which are made through chemical synthesis. In the initial state, natural resins are in a sticky and gummy state and then they harden over time. Moreover, natural resins are soluble in alcohol and other related compounds while they are insoluble in water. The solubility of natural resins in alcohol makes them suitable for use in paints and coatings.
Natural resins can be heated or processed in alcohol for softening and then the softened natural resins can be used as paints, coatings, lacquers and varnishes. These various types of natural resin paints can then be applied on different types of surfaces and then allowed to dry, after which the resin does not allow water intrusion. This is the important reason behind the growing demand for natural resin paints from various industries such as wood coating industry.
Moreover, the natural resin paints are produced from bio-based raw material that is natural resin. Due to this, the demand for natural resin paints is expected to grow at a rapid pace in the future considering the growing restrictions on the use of paints produced from synthetic resins.
Asia Pacific is anticipated to be the fastest growing market for natural resin paints in the next few years. The major reason for this is the growing demand for natural resin paints market from emergent countries such as China and India. Furthermore, the countries in the regions such as Africa, South America and the Middle East are showing swift economic growth since the last few years.
Additionally, the U.S. and European countries are steadily recovering from the economic downfall. All such factors are ultimately creating a positive outlook for the global industrial scene. Considering this outlook, paints and coating related industries are expected to record an amazing growth in the future. There is a remarkable market potential for the paints and coatings industry, especially the natural resin paints industry in the emerging countries such as China, India and Brazil. The growing demand for natural resin paints in the wood coating industry is expected to drive the global natural resin paints market in the near future.
The major players in the natural resin paints market are principally focusing on these developing economies for tapping their gigantic market potential. The major players in the natural resin paints market are installing robust manufacturing facilities in these developing nations to fulfill the swiftly rising local demand. Therefore, the global natural resin paints market is projected to experience a considerable growth in the future.
Some of the major companies operating in the global natural resin paints market are Berger Paints India Limited, BASF SE, Asian Paints Limited, Masco Corporation, Akzonobel NV, Axalta Coating Systems LLC, Hempel A/S, Kansai Paint Company Limited, Nippon Paint Company Limited, The Valspar Corporation, DAW SE, Jotun A/S, The Sherwin-Williams Company, RPM International Inc. and PPG Industries Inc.