Coating binder consumption value is expected to grow at a CAGR of around 3.1% during the period 2022-2032
With a CAGR
of 3.1% between 2022 and 2032, the global coating binders market is
expected to be worth USD 35,133 million in 2022 and USD 50,563 million by 2032.
Furthermore,
coating binders produced approximately 40.1 kt in 2021, accounting for 23.5
percent of total binder production, and are expected to grow at a CAGR of
approximately 2.8 % through 2032, with output reaching 48.7 kt.
Coating
binders play an important role in keeping pigments in place, which is essential
for the coating's protective properties. Furthermore, the optimal binder ratio
in coatings improves durability and appeal. As a result, coating binders have
been identified as the most important chemical in coating formulation.
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The highest
consumption of coating binder was seen in architectural coatings. This is
pr...