Alkyd resin market is projected to grow at a considerable CAGR of around 3% during the forecast period (2020-2026). The rising demand for aesthetic appearance, high-quality performance, along with low-cost product for coating purpose is the major factor appealing the demand for acrylic resin, which in turn is driving the growth of the global alkyd resin market. Alkyd resins belong to the family of thermosetting polyester and are formed by the condensation reaction of oil or fatty acid, acid and polyol. The advanced weathering capabilities of alkyd resin make them suitable to manufacture protective coating. In addition, the wide spectrum of acceptable properties in terms of surface coating usage and easy modification for specialist applications owing to their compatibility with most substances used in surface coating including polymeric materials make them an appropriate choice for painting and coating application. Polyamide alkyds, phenolic alkyds, silicone alkyds, urethane alkyds, and vinylated alkyds are the majorly available modification of the alkyd resin. The rising use of modified alkyd resin in different industrial applications is anticipated to drive the growth of the global alkyd resin market. 

Rising consumer preference for environment-friendly coating material along with stringent government regulations related to the use of inorganic chemical compounds play a critical role in the growth of the alkyd resin market across the globe. With the rising awareness related to the environment, protection is prompting manufacturers to increase the solid content in the coating material to reduce solvent vapor emission. The growing replacement of solvent-based acrylic resin with another waterborne resin to eliminate the solvent vapor emission for safety against fire hazards may restrain the growth of the alkyd resin market across the globe. 

Segmental Outlook  

The alkyd resin market is segmented on the basis of class and end-user industry. Based on the class the market is segmented into long alkyd resin, medium alkyd resin, and short alkyd resin. Long alkyd resins are durable and environmental friendly and are used in the building & construction industry. Medium alkyd resin exhibits drying property and gloss retention property making it suitable for use in the coating of industrial machinery. Short alkyd resins are pigment dispersible and are used for the coating of automobile lacquer. Based on the end-user industry, the alkyd resin market is segmented into building & construction, furniture, automotive, and others. 

Building & Construction Industry to be considerable segment based on End-User Industry

Building & construction industry is anticipated to hold major market share based on the end-user industry segment. The growing use of the alkyd resin in coating application in the building & construction industry due to its nature to perform specialty coating is a key factor contributing towards the high share of the market segment. The growing automotive industry across the globe along with the demand of alkyd resins in the coating of automotive parts to make them corrosion resistant is anticipated to drive the growth of the market segment.  

Global Alkyd Resin Market Share by End User Industry, 2019 (%)

Regional Outlook 

The global alkyd resin market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and Rest of the World. North America is anticipated to hold a major market share in the global alkyd resin market during the forecast period. The presence of key players and significant presence of end-user industries such as electronic, automobile, chemical, and cosmetic industries that make intensive use of alkyd resins is fuelling the demand of alkyd resins in the region, thereby making a huge contribution towards the high share of the market in the region. In addition, the presence of stringent regulation in the country related to the use of VOC compounds in the region may hamper the growth of the alkyd resin market in North America.

Global Alkyd Resin Market Growth, by Region 2020-2026

Asia-Pacific will augment with the significant growth rate in the alkyd resin market

The rapid industrialization, growing automobile industry, and growth of construction activities in the region owing to the rising investment from foreign direct investment in India and China is the major factor contributing towards the growth of the alkyd resin market in the Asia-Pacific region. The growth of the furniture industry in the region owing to the rising inclination of consumers towards the aesthetic appeal of their homes and offices is anticipated to drive the growth of the alkyd resins market in the Asia-Pacific region.  

Market Players Outlook

The key players of the alkyd resin market that include Wacker Chemie AG, Koninklijke DSM N.V., Solvay S.A., the Dow Chemical Co., Arkema S.A., Yuen Liang Industrial & Co., Ltd., Synthopol Chemie Dr. rer. pol. Koch GmbH & Co. KG, OPC Polymers, DSV Chemicals Pvt. Ltd., Macro Polymers P. Ltd., and so on. The key players of the market are involved in making innovations in their products offering to suit the industrial application to remain competitive in the market place. Moreover, some players are adopting different growth strategies such as merger & acquisition, and product launches to thrive in the global market.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global alkyd resin market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.