Resin Suppliers and Coating Formulators Partner to Overcome Performance and Environmental Challenges
MOUNTAIN VIEW, CA - Coating formulators are reducing solvent content to comply with more stringent environmental regulations on VOC emissions, constraining the performance of new protective and marine coatings. Leading participants believe novel coating solutions are required to overcome these challenges as scientists are beginning to encounter limitations with modifying the existing set of raw materials.
A new study by Frost & Sullivan's Chemicals, Materials & Food practice finds that the protective and marine coatings market earned revenue of $2.03 billion in North America and $2.40 billion in Europe in 2013, and estimates this to reach $2.40 billion and $2.72 billion in 2017, respectively. Additionally, resins for the protective and marine coatings market earned $684 million in North America and $756 million in Europe in 2013, and this revenue is expected to reach $781.5 million and $826.5 million, respectively, during the same forecast period.