Coated Resins Market Outlook
According to the report by Expert Market Research (EMR), the Global Coated Resins Market Size is projected to grow at a CAGR of 4.20% between 2023 and 2028. Aided by rising demand for epoxy resins and the development of bio-based epoxy resins, the market is expected to grow significantly by 2028.
Coated resins are traditional dried grapes that have been given a new lease of life by being coated with a variety of substances, such as chocolate, yoghurt, and sugar. They are known for their rich content of vitamins, minerals, and antioxidants. Apart from their nutritional benefits, coated resins also boast an attractive taste profile, making them an ideal ingredient in a range of food products, including bakery items, dairy products, cereals, and confectionery.
The increasing consumer preference for nutritious snack products is driving the global coated resins market growth. With the growing awareness of the health benefits associated with the consumption of fruits, both fresh and dried, there has been a significant shift towards fruit-based snacks, leading to a surge in demand for coated raisin products. Additionally, the rising trend of on-the-go snacking has further contributed to the increasing popularity of coated resins.
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The expanding applications of coated resins in various industries also play a significant role in propelling the coated resins market demand. In the bakery industry, coated resins are used to enhance the flavour and nutritional profile of various products, such as cookies, cakes, and muffins. The confectionery industry utilises coated resins as a key ingredient in many candies and chocolates. Furthermore, coated resins are being increasingly used in breakfast cereals, granola bars, and other healthy snack items.
Moreover, the trend of clean labelling and the use of natural ingredients have led to increased attention towards coated resins as a viable ingredient in health-focused products. With the rise of health-conscious consumers and the increasing popularity of functional foods, coated resins have emerged as a critical component in the formulation of many food products, thereby boosting the coated resins market expansion.
Continuous product innovations also provide a strong thrust to the market growth. Companies are experimenting with a range of coatings, including exotic flavours and sugar-free alternatives, to cater to the evolving consumer preferences and dietary needs. Furthermore, the expansion of retail channels, particularly online platforms, has widened the coated resins market reach and made coated resins more accessible to consumers worldwide.
Coated Resins Market Segmentation
The market can be divided based on resin type, formulating technology, application, and region.
Market Breakup by Resin Type
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Market Breakup by Formulating Technology
- Water-Based
- Solvent-Based
- Powder
- Others
Market Breakup by Application
- Architectural Coatings
- General Industrial Coatings
- Marine and Protective Coatings
- Wood Coatings
- Automotive Coatings
- Coil Coatings
- Packaging Coatings
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global coated resins market companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Arkema
- Covestro AG
- DIC Corporation
- Neville Chemical Company
- Allnex GMBH
- Others
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