Global Alkyd Resin Market - 2023-2030

Global Alkyd Resin Market - 2023-2030


Global alykd resin market reached US$ 22.5 billion in 2022 and is expected to reach US$ 38.4 billion by 2030, growing with a CAGR of 6.9% during the forecast period 2023-2030.

The growth of the maritime industry in recent years has been attributed to factors such as increased global marine trade, higher maritime navigation, increased need for security automation systems and increased maritime tourism. Due to these advantages, the maritime industry's need for alkyl coatings is anticipated to drive market growth throughout the forecast period.

Country like Germany is contributing to the growth of the European alkyd resin market as it is matured market in terms of the production and distribution of such chemicals. For instance, on January 24, 2023, The European Coatings Show (ECS), which took place from March 28 to March 30 in Nuremberg (Germany), featured the most recent innovations for environmentally friendly coating solutions from ASK Chemicals.

The company has unveiled Necowell FLE 55 R/LR, a subsequent-generation copolymer resin emulsion based on vegetable oils, for the following generation of water-based wood colors. The new alkyd resin is touted as the best choice for developing effective and eco-friendly interior paints because it is based on a significant amount of renewable raw ingredients and is a bio-based, VOC-free stain blocker binder. Hence, Germany holds nearly 1/3rd of the regional market share.

Market Dynamics

Growing Demand in Paints and Coatings Industry

The type of chemical reagents employed in the production process is primarily responsible for the unique qualities of the numerous types of alkyd resins for paints that are currently on the market. Early in the production process, a variety of additives (such as isocyanates or silicones) can be added to basic reagents.

Additionally, modified alkyd resin-based varnishes and enamels, as well as alkyd resins combined with urea- and melamine-formaldehyde, are useful for painting automobiles, airplanes, railroads and agricultural machinery. Enamels made from resins are appropriate for painting vehicles, bicycles and other equipment. Due to the increasing application, ongoing research & development by manufacturers and researchers is anticipated to boost market expansion.

Bio-based Sustainable Alkyd Resin

In light of concerns about environmental pollution, climate change, high oil prices, waste disposal and shortages of traditional raw materials, the concept of ""sustainability"" has emerged as one of the chemical industry's most important drivers and criteria in recent years. Therefore, manufacturers are launching new products in the global alkyd resin market.

For instance, in June 20, 2022, Allnex, a top provider of resins for environmentally friendly coatings, has announced that, as part of the Environmental Sustainability Governance Programme, all alkyds produced at our European facilities will begin to use partially mass balanced, biobased pentaerythritol in the second quarter of this year.

The industry-leading water-borne and solvent-borne alkyds sold under the allnex RESYDROL, SETAL and SETAQUA brand names will now have a 25% higher bio-content as a result of this conscious decision, which shows our company's constant commitment to sustainable development. The comparatively high bio-content of alkyds will be increased by this additional bio-content and the overall bio-content of some products will surpass 60%.

Growing Knowledge of Alkyd Resins' Negative Effects

Concerns about volatile organic compounds (VOCs) have led to a decline in the popularity of traditional solvent-based alkyd coatings. The number of health issues, such as asthma, allergies and other respiratory issues, as well as the environmental worries related to global warming, have increased as a result of the emission of potentially dangerous VOCs.

The use of solvent-based coatings has environmental drawbacks and the development of stronger film-forming agents is limiting industry expansion. Therefore, above mentioned reasoning hinders the growth of the global alkyd resin market.

COVID-19 Impact Analysis

The manufacturing of alkyd resin depends on feedstocks derived from oil. Due to decreased demand and market uncertainties during the epidemic, oil prices fluctuated considerably. These price swings affected the cost of making alkyd resins and might have had an impact on market pricing tactics.

As a result of the epidemic, there are now more consumers and industries interested in eco-friendly and sustainable products than before. This change in taste may have affected consumers' choice of water- or bio-based alkyd resins over conventional solvent-based ones.

Segment Analysis

The global alykd resin market is segmented based on resin, formulation, end-user and region.

Growing Demand in Industrial Coatings Drives the Segmental Growth

Due to their favourable economic effects and environmental performance, high solid coatings are attracting a lot of attention. High solid alkyd formulations can be made with the use of reactive diluents. The film will have biodegradable qualities if the reactive diluent is made from a renewable resource, such as vegetable oil.

The global market is expanding as a result of the increasing demand for high solid alkyds in industrial coating applications. For the coatings sector, OPC Polymers provides a broad and varied selection of high-solid alkyd resins. These high-solids alkyds are produced to meet a variety of performance standards & applications. Therefore, the high solid alkyds segment is expected to grow at a highest CAGR during the forecasted period.

Geographical Analysis

Growing Export in U.S. Drives the Regional Growth

U.S. dominates the global alkyd resin market. Alkyd resin demand is rising in a number of global markets and thus American producers take advantage of the chance to export their goods to meet this need. This increase in global demand stimulates the manufacture of alkyd resins in U.S., which benefits the entire North American market.

Alkyd resin export is made simple by the existence of advantageous trade agreements between U.S. and other nations. Increased export volumes result from lowered trade restrictions, taxes and simplified customs processes that make it easier for American companies to reach foreign markets. Therefore, U.S. contributes more than 3/4th to the regional alkyd resin market.

Competitive Landscape

The major global players include Polynt SpA, Nord Composites, Mancuso Chemicals Limited, D.S.V Chemicals Pvt Ltd., Macro Polymers, BASF SE, Spolchemi, DowDuPont Inc., Arkema SA and DSM.

Why Purchase the Report?
• To visualize the global alykd resin market segmentation based on resin, formulation, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of alykd resin market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global alykd resin market report would provide approximately 61 tables, 59 figures and 191 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies


1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Resin
3.2. Snippet by Formulation
3.3. Snippet by End-User
3.4. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Driver
4.1.1.1. Growing Demand in Paints and Coatings Industry
4.1.1.2. Bio-based Sustainable Alkyd Resin
4.1.2. Restraints
4.1.2.1. Growing Knowledge of Alkyd Resins' Negative Effects
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Resin
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
7.1.2. Market Attractiveness Index, By Resin
7.2. Non-drying Alyd Resin*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Drying Alkyd Resin
8. By Formulation
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
8.1.2. Market Attractiveness Index, By Formulation
8.2. Waterborne*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Solvent Borne Coatings
8.4. Powder Coatings
8.5. High Solid Alkyds
8.6. Others
9. By End-User
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
9.1.2. Market Attractiveness Index, By End-User
9.2. Building and Construction*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Automotive
9.4. Electricals and Electronics
9.5. Aerospace
9.6. Others
10. By Region
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
10.1.2. Market Attractiveness Index, By Region
10.2. North America
10.2.1. Introduction
10.2.2. Key Region-Specific Dynamics
10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.2.6.1. U.S.
10.2.6.2. Canada
10.2.6.3. Mexico
10.3. Europe
10.3.1. Introduction
10.3.2. Key Region-Specific Dynamics
10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.3.6.1. Germany
10.3.6.2. UK
10.3.6.3. France
10.3.6.4. Italy
10.3.6.5. Russia
10.3.6.6. Rest of Europe
10.4. South America
10.4.1. Introduction
10.4.2. Key Region-Specific Dynamics
10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.4.6.1. Brazil
10.4.6.2. Argentina
10.4.6.3. Rest of South America
10.5. Asia-Pacific
10.5.1. Introduction
10.5.2. Key Region-Specific Dynamics
10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.5.6.1. China
10.5.6.2. India
10.5.6.3. Japan
10.5.6.4. Australia
10.5.6.5. Rest of Asia-Pacific
10.6. Middle East and Africa
10.6.1. Introduction
10.6.2. Key Region-Specific Dynamics
10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Formulation
10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11. Competitive Landscape
11.1. Competitive Scenario
11.2. Market Positioning/Share Analysis
11.3. Mergers and Acquisitions Analysis
12. Company Profiles
12.1. Polynt SpA*
12.1.1. Company Overview
12.1.2. Product Portfolio and Description
12.1.3. Financial Overview
12.1.4. Recent Developments
12.2. Nord Composites
12.3. Mancuso Chemicals Limited
12.4. D.S.V Chemicals Pvt Ltd.
12.5. Macro Polymers
12.6. BASF SE.
12.7. Spolchemi
12.8. DowDuPont Inc.
12.9. Arkema SA
12.10. DSM
LIST NOT EXHAUSTIVE
13. Appendix
13.1. About Us and Services
13.2. Contact Us

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