Alkyd Resin Market - Growth, Size, Trends, Insights and Forecast 2023

Global Alkyd Resin Market Size is growing rapidly, mainly due to the rising consumption of paints & coating materials worldwide. Massive growth in the end-user industries of paint & coatings, such as building & construction, automotive, industrial, and furniture, is the most significant driving force. Recent development of antivirus surface coating to support communities during Coronavirus crises has been benefitting the market growth, increasing the consumption of Alkyd Resins. Thus, the COVID 19 pandemic is expected to impact the Global Alkyd Resin Market Exponentially.

In addition to antimicrobial technology, another trend observed is the development of label-free and VOC-free paints & coating materials. These trends are estimated to remain viable for the market growth on the backdrop of the epidemic and deteriorating environment. Heading with such trends, the Alkyd Resin Market Size is projected to increase continually during and after the pandemic. Moreover, the rising consumption of Alkyd Resins across the industrial paint industries escalates the market growth to furthered height.

According to Market Research Future (MRFR), Global Alkyd Resin Market is estimated to reach USD 3,257.7 MN by 2023, registering3.32% CAGR during the forecast period (2017 – 2023).  Significant increase in the construction and automotive sectors also attributes to the rise in global economy. Simultaneously, the growing industrialization and urbanization worldwide, foster market growth, driving the paints & coating market. Furthermore, the increase in general industrial sectors across the globe accelerates the market growth.

Major Players:

Players Leading the Global Alkyd Resin Market include Nord Composites, Polynt SpA, Mancuso Chemicals Limited, Macro Polymers, DSV Chemicals Pvt. Ltd., BASF SE, DowDuPont Inc., Spolchemie, D.S.M., Cytech Solvay Group., and Arkema SA, among others.

Global Alkyd Resin Market – Competitive Landscape

Highly Competitive, the Alkyd Resin Market appears fragmented due to the presence of many well-established players. To gain a larger completive share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/ technology launch. Players aim to develop a uniquely designed product line that can offer high curability & finishing. Also, they make substantial investments to increase their global footprint and R&D required for the product launches.

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Global Alkyd Resin Market – Segmentation

The report is segmented into three dynamics.

By Type: Oil-based, Modified, Water Reducible, and others.

By End-Use Industry: Building & Construction, Automotive, Industrial, Furniture, and others.

By Regions: Americas, Europe, Asia Pacific, Middle East & Africa, and Rest-of-the-World. 

Industry/ Innovation/ Related News:

January 10, 2020 ---- Gabriel Performance Products, LLC (the US), a leading specialty chemicals company, announced the completion of the acquisition of a select portfolio of alkyd resins from Deltech Resins Company. Gabriel majorly serves the coatings, adhesives, and composite markets. Deltech Resins is a US-based manufacturer of para-Methylstyrene, Vinyl Toluene, and other specialty monomers.

Gabriel has also purchased the remainder of Deltech’s alkyd resin product line, including coconut, vinyl-toluene, and silicon modified specialty solutions. Gabriel will produce these products at its Harrison City, PA facility, home of its Ranbar alkyd resin technology. The transaction marks Gabriel’s sixth acquisition since 2014 and builds its focus on growing its proprietary product portfolio serving the CASE markets.

Alkyd Resin Market – Regional Analysis

Asia Pacific region dominates the Global Alkyd Resin Market. The largest market share attributes to the rapid architectural and industrial growth in the region. China, followed by India, has emerged as a global manufacturing hub for Alkyd Resins due to the raw material advantage and cost-competitive labor force. Besides, due to the rapid industrialization in these countries pushes the growth of the alkyd Resin Market, driving the paints & coatings market. Also, widely expanding the construction and automotive industry in the region drives the market growth consuming a vast amount of paint & coating materials.

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Also, the robust automotive manufacturing bases in China, South Korea, Japan, and India foster regional market growth, witnessing the rising sales of passenger cars. China dominated the regional market in 2016; however, the Indian Alkyd Resin Market is estimated to take the lead during the forecast period. Furthermore, advanced technology and government efforts to reduce VOC emissions are providing a lucrative opportunity to the Alkyd Resin manufacturers. The APAC Alkyd Resin Market is predicted to remain dominant throughout the forecast period, reaching USD 1213.5 MN by 2023 at 3.82%CAGR over the review period.

Europe stands second in the Global Alkyd Resin Market. The market is led by increasing R & D budgets and major Alkyd Resin manufacturers in the region. Besides, considerable advances in coating technologies impact the regional market growth positively. Moreover, regulatory bodies such as reach have specific norms on carbon emission driven by the rising awareness of the Alkyd Resin and its benefits on energy-saving operations. Russia, Germany, and the UK are the major markets for Alkyd Resins in the region. The European Alkyd Resin Market is expected to grow at a prominent CAGR during the forecast period.

The Alkyd Resin Market in North America is growing briskly. Factors such as the high consumption potential and increasing production capacities of paints & coating in the region drive market growth. Moreover, the increasing consumption of paint and coating materials in various sectors, including construction, automotive, and the aircraft sector, fosters regional market growth.  The US is the largest market in the region, accounting for one of the largest global markets in terms of value & volume. The North American Alkyd Resin Market is estimated to witness a tremendous rise over the anticipated period.

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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Alkyd Resin Market - Sales, Revenue, Gross Margin, Market Share by Top Companies 2023

Market Research Future Published a Half-Cooked Research Report on Global Alkyd Resin Market Research Report- Forecast to 2023

Market Insights:

Market Research Future (MRFR) has revealed in its latest study that the Global Alkyd Resin Market is set to expand at 3.32% CAGR, in terms of value, during the forecast period. The market valuation is expected to reach a valuation of USD 3,257.7 Mn by the end of 2023 up from USD 2,610 Mn in 2016. In terms of volume, the market is projected to register a CAGR of 3.07%. Although the market has entered a phase of maturity, the boom in the end-user industries is likely to generate demand for Alkyd Resins in the forthcoming years.

The increasing disposable income of the global population coupled with accelerated economic activities in the construction sector is projected to augur well for the Alkyd Resins Market Players. The rising demand for paints and coating from the construction sector is likely to guide the growth trajectory of the Alkyd Resins Market over the next few years.

The demand from the automotive industry for Alkyd Resins hold a significant share of the market. According to statistics released by OICA, 26% of the market share is owned by automotive refinishes. The increasing demand in the automotive industry is expected to drive the expansion of the Alkyd Resin Market over 2023.

The stringent regulations enforced by EPA and REACH regarding the VOC emissions in coatings industry is poised to hold the revenue creation of the alkyd resin market across the projection period. However, the shift witnessed towards water-based latex paints has opened new avenues of growth for the participants of the Alkyd Resin Market.

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Competitive Dashboard:

Some of the Key Players profiled in the report include Polynt SpA, Arkema SA, Mancuso Chemicals Limited, D.S.V Chemicals Pvt Ltd., Nord Composites, Macro Polymers, Spolchemie, DowDuPont Inc., BASF SE, DSM, and Cytech Solvay Group.

Market Segmentation:

By Type, Global Alkyd Resin Market is segmented into oil-based, modified, water reducible, and others. Among these, the oil-based segment is leading the global market and is estimated to reach a valuation of USD 1,062.4 Mn by the end of 2023.

By End-Use Industry, the Alkyd Resin Market has been segmented into building & construction, automotive, industrial, furniture, and others. The building & construction segment is likely to exhibit significant growth owing to the surge in demand for paints & coatings.

Industry Developments:

In June 2018, self-healing performance of an epoxy coating consisting of microencapsulated alkyd resin based on coconut oil has been investigated in a study by scientists for its healing properties.

In September 2018, an industrial coating resins producer, Allnex, signed a strategic cooperation agreement with Guangdong Bardese Chemical Group, one of the most valuable Chinese brands for centralized development of green coatings in China.

Browse Key Industry Insights spread across 145 pages with 157 market data tables & 10 figures & charts from the report, “Alkyd Resin Market Information: By Type (Oil Based, Modified, Water Reducible, Others) End-Use Industry (Building & Construction, Automotive, Industrial, Furniture, Others) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/alkyd-resin-market-4925

Regional Synopsis:

By Region, the Global Alkyd Resin Market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific accounts for the largest share of 36% in the global market. The thriving automotive sector in the region is likely to intensify the demand for Alkyd Resin in the forthcoming years. The strong value maintained by the construction sector is prognosticated to favor the market expansion. 

Additionally, the efforts undertaken by the governments for reducing carbon emissions has paved the way for Alkyd Resin Market proliferation in the region.

Europe is the second largest regional Alkyd Resin Market. The U.K., Germany, and Russia are primary revenue generators in the regional market. The presence of established automotive hubs and favorable government regulations is likely to drive the growth of the automotive coatings market in the region. This, in turn, is expected to drive the growth of the Alkyd Resin Market in the region. Meanwhile, the Middle East & Africa is expected to register the highest CAGR of 3.44% during the forecast period. The growth is attributable to the increasing demand in the automotive and construction sectors.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Alkyd Resin Market 2018: Trends, Size, Share, Growth and Forecast 2023

Market Research Future published a Half Cooked Research Report on “Global Alkyd Resin Market Research Report – Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

BASF SE (Germany), Arkema S.A. (France), Yuen Liang Industrial & Co., Ltd (Taiwan), Synthopol (Germany), Polynt Composites USA Inc. (U.S.), OPC Polymers (U.S.), Nuplex Industries Ltd. (U.S.), Emerald Performance Materials (U.S.), Regent (U.S.), and Brenntag Specialties, Inc. (U.S.) among others are some of the prominent players at the forefront of competition in the Global Alkyd Resin Market and are profiled in MRFR Analysis.

Alkyd Resin Market – Overview
The Global Alkyd Resin Market is expected to grow at moderate annual increment, driven by demand from application industries like printing ink, architectural coatings, furniture coatings, automotive paints, industrial coatings and others. The alkyd resin manufacturers are increasingly shifting towards Asia Pacific region in line with the shift of consumer demands in paints & coating sectors. As a result of this shift, China is the largest contributor and accounted for nearly half of the global production of alkyd resin. Significant refining and cracker capacity of the petrochemical has been added in China to address rapidly growing car fleet sales as well as the diverse needs of a growing Chinese middle class. Overall, the rate of Alkyd Resin capacity addition has been very high in Asia Pacific region while global consumption is expected to slow down, due to economic slowdown of many developing and developed countries. As a result of this, Alkyd Resin operating rates is expected to decline, leading to lower margins and pressure on the higher-cost producers.

Competitive Landscape
The report analyses the degree of competition among the industry players as well as industry growth and market scenario in India and the world. The Global Alkyd Resin Market is at a growing stage, which represents moderate stats in terms of market value and overall volume. Over the past few years, alkyd resin market has witnessed healthy demand from end use industries such as pharmaceuticals textiles automobiles, paints, papers, soaps, detergents. Globally market for Alkyd Resin is fragmented and it is moving towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies.

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Industry/ Innovation/ Related News:
December 2017 – BASF and SINOPEC planned to expand the production capacity of Neopentylglycol (NPG) at the state-ofthe-art Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China. The plant was established in 2015 with an annual capacity of 40,000 metric tons. Following the expansion, the annual capacity is expected to doubled to 80,000 metric tons. The expanded capacity is expected to come on stream in 2020. NPG is a unique polyalcohol offering superior performance in many end-use applications such as powder coatings, textiles and construction due to its high chemical and thermal stability. It is mainly used as a building block in polyester resins for coatings, unsaturated polyester and alkyd resins, lubricants and plasticizers.

November 2017 – Royal DSM, a global science company active in health, nutrition and materials, announced to invest euro15 million for the expansion of its Coating Resins plant in Meppen, Germany. The facility is specialized in the production of liquid polyesters and other specialty resins. With this expansion, DSM Coating Resins reinforces its position in the can and coil coatings segment and ensures it remains fit for growth in the BPA-free market.

October 2016 – French specialty chemicals major Arkema planned to invest USD 15 million (approximately Rs 100 crore) for setting up a new polyester powder resin manufacturing facility, the first of its kind in India, on its existing resin platform in Navi Mumbai, Maharashtra. Arkema’s manufacturing site in Navi Mumbai also produces alkyd, acrylic solutions and oil-free polyester resins, as well as reactive polyamide resins. The investment in upgrading the capabilities of its Indian production facility is part of the ongoing commitment of the group to remain a leading and global supplier to the coating industry while at the same time providing customers with all of the benefits of cutting edge technology, locally manufactured with strong technical support.

Alkyd Resin Market India
Indian Alkyd Resin Market is estimated to grow with healthy growth rate of the world market. Globally, India ranks at significant level in consumption of alkyd resin. Regionally, western India has been the dominant region contributing approx. 50% to the Gross Value Added (GVA) for the Alkyd Resin sector.

Several initiatives taken by Government of India will support the growth of chemical industry in India. One of such initiative is ‘Make in India’. This initiative is expected to foster growth in Indian Alkyd Resin market by allowing duty rationalization for skill development, feedstock, improving infrastructure and tax incentives for R&D investments. Approval of the GST bill is another key reform which is expected to lower logistics cost by 10-15% and create a unified market across the country. The launch of Single Window Interface for Facilitating Trade (SWIFT) by government would help importers or exporters to file a common integrated declaration, instead of 9 forms across 6 agencies.

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The R&D investment and facility of Indian companies have been limited traditionally, but the situation is changing slowly with more and more companies looking at R&D as a key source of staying in competitive environment of Alkyd Resin market in India. The investment in R&D for Indian companies is expected to grow above 2% of the total revenue, thereby help to innovate them the product in the market. The industry is also observing increasing tie-ups with academia which will facilitate the technology applied research further.  

Alkyd Resin Market 2017–Share, Growth, Key Players, Trends and Forecasts

Alkyd resins have excellent weathering properties and compatibility with many other polymer coatings. These properties have major applications in traffic paints, concrete floor protective coatings, and industrial coatings. The demand for the market is increasing demand for protective coatings, furniture coatings, and for protecting concrete floor due to increasing industrialization, residential renovations and purchasing power of consumers. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period 2017-2023. High adoption rate along with the increasing number of power plants to meet the need for energy of the ever-growing population. Moreover, continuous expansion of the automotive sector as well as shifting manufacturers focus towards protective paints made from Alkyd Resins are estimated to fuel the growth of the market during the review period, 2017-2023. However, growing environmental concern regarding the toxic effect of chemicals used in Alkyd Resin along with the implementation of the strict regulations is predicted to hinder the market growth over the assessment period 2017-2023.

Market Segmentation:
The Global Alkyd Resin Market is categorized on the basis of type, application, and region. On the basis of the type, the market is bifurcated into short oil, medium oil, long oil, and others. On the basis of the application, the alkyd resin market is categorized into printing ink, architectural coatings, furniture coatings, automotive paints, industrial coatings, and others. On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis:
Asia Pacific is estimated to be the largest Alkyd Resin Market majorly from architectural coatings segment followed by North America and Europe owing to increasing construction activities and expanding populace.

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Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for automotive paints made from alkyd resin, in Europe.

North America is the fastest growing market and is estimated to grow at the same pace over the forecast period. Improving living standards along with the flourishing growth of furniture manufacturing sector is predicted to contribute to the regional alkyd resin market growth. In the Middle East & Africa, the U.A.E and Saudi Arabia are among the major contributors to the regional market growth due to the expansion of offshore and onshore petrol refining activities In South America, Mexico is expected to register strong growth due to the strong presence of automobile manufacturers.

Competitive Analysis:
Some of the prominent players operating in the Global Alkyd Resin Market are BASF SE (Germany), Arkema S.A. (France), Yuen Liang Industrial & Co., Ltd (Taiwan), Synthopol (Germany), Polynt Composites USA Inc. (U.S.), OPC Polymers (U.S.), Nuplex Industries Ltd. (U.S.), Emerald Performance Materials (U.S.), Regent (U.S.), and Brenntag Specialties, Inc. (U.S.) among others.

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Key Points from Table of Contents:

1    Executive Summary

2    Scope of the Report

3    Market Research Methodology

4    Market Landscape

5    Industry Overview of Global Alkyd Resin Market

6    Market Trends

7. Global Alkyd Resin Market by Type

8. Global Alkyd Resin Market by Application

9. Global Alkyd Resin Market by Region

10. Company Landscape

11. Company Profiles

11.1       BASF SE
11.1.1    Company Overview
11.1.2    Type/Business Segment Overview
11.1.3    Financial Updates
11.1.4    Key Developments

11.2       Arkema S.A.
11.2.1    Company Overview
11.2.2    Type/Business Segment Overview
11.2.3    Financial Updates
11.2.4    Key Developments

11.3       Yuen Liang Industrial & Co., Ltd
11.3.1    Company Overview
11.3.2    Type/Business Segment Overview
11.3.3    Financial Updates
11.3.4    Key Developments

11.4       Synthopol
11.4.1    Company Overview
11.4.2    Type/Business Segment Overview
11.4.3    Financial Updates
11.4.4    Key Developments

11.5       Polynt Composites USA Inc.
11.5.1    Company Overview
11.5.2    Type/Business Segment Overview
11.5.3    Financial Updates
11.5.4    Key Developments

12. Conclusion

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