Alkyd Resin Market Forecasts to 2028 – Global Analysis By Process Type (Fatty Acid Process and Glyceride Process), Resin Type (Drying, Semi-Drying, and Non-Drying), Formulation Type, Application, End User and By Geography
According to Stratistics MRC, the Global Alkyd Resin Market is accounted for $23.28 billion in 2020 and is expected to reach $51.00 billion by 2028 growing at a CAGR of 10.3% during the forecast period. Rising demand for automotive repaints, increase in demand for alkyd resins in wood furniture as well as architectural coatings and growing maritime tourism are driving the market growth. However, environmental restrictions of using solvent based coatings are hampering the growth of the market.
Alkyd resin is a complex polyester which is oil-modified and behaves as a film-forming agent in paints and clear coatings. They are made by reaction of dibasic acid or its anhydrides with drying oil and polyols. They are primarily used to make protective coatings owing to their advanced weather resistance capabilities. Moreover, alkyd resins could be formulated with several coating polymers to enhance their application properties.
Based on the formulation type, the high-solids segment is going to have lucrative growth during the forecast period as they can be implemented with traditional spray equipment as well as mixed with conventional alkyds to reduce the emission of volatile organic compounds (VOC).
By geography, Asia Pacific is going to have high growth during the forecast period which could be attributed to the rapid industrialization and urbanization. Moreover, growing importance of digital color solution and rising passenger car sales are expected to influence the growth of the market in the region.
Some of the key players profiled in the Alkyd Resin Market include Aekyung Chemical, Arakawa Chemical Industries,Ltd, BASF SE, D.S.V Chemicals Pvt Ltd., DIC Corporation, DowDuPont Inc., Macro Polymers, Mancuso Chemicals Limited, Nord Composites, Polynt SpA, Qualipoly Chemical Corp, SANMU Group, Shanghai Yoo-Pont Chemical Industry Co., Ltd, Spolchemie and Yip's Chemical Holdings Limited.
Estimated Market Size in 2020:
USD 23.28 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 51.00 billion
Tables, Graphs & Figures
Process Type, Resin Type, Formulation Type, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Process Types Covered:
• Fatty Acid Process
• Glyceride Process
Resin Types Covered:
Formulation Types Covered:
• Dry/Powder Coatings
• Solvent Borne Coatings
• Water Reducable
• Aerosol Paints and Coatings
• Automotive Refinishing Primers Coil Coatings
• Baking Enamels
• Clear Wood Finishes
• Drum Coatings
• Electrical Insulating Enamels
• Exterior Trim Paints
• Fast-Dry Enamels
• Industrial Wood Primers
• Maintenance Paints
• Metal Primers
• Traffic Paint
End Users Covered:
• Building & Construction
• Food & Beverages
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Company Profiling
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o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Alkyd Resin Market is majorly driven by rising demand for automotive repaints, increase in demand for alkyd resins in wood furniture as well as architectural coatings and growing maritime tourism.
The architectural segment is growing at a highest CAGR owing to increased demand from construction industry.
Asia Pacific dominated with a significant market share due to the factors such as rapid industrialization and urbanization areas across the region.
Middle East & Africa market is growing at a highest CAGR owing to the surge in sales of luxury cars, which in turn boosts the growth of the market in the region.
Key players in Alkyd Resin Market include Aekyung Chemical, Arakawa Chemical Industries,Ltd, BASF SE, D.S.V Chemicals Pvt Ltd., DIC Corporation, DowDuPont Inc., Macro Polymers, Mancuso Chemicals Limited, Nord Composites, Polynt SpA, Qualipoly Chemical Corp, SANMU Group, Shanghai Yoo-Pont Chemical Industry Co., Ltd, Spolchemie and Yip's Chemical Holdings Limited.
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