Global Alkyd Resin Market Analysis, Trends and Opportunities -2020-2026
Summary -
A new market
study, titled “Global Alkyd Resin Market Analysis, Trends and
Opportunities -2020-2026” has been featured on WiseGuyReports.
According to MRFR analysis, the
report offers segmentation analysis based on type such as oil-based, modified,
water reducible, and others. Furthermore, the oil-based alkyd resin is
sub-segmented into short oil, medium oil, and long oil. Among all the alkyd
resins types, oil-based dominated the global market in 2016 with a significant
market shares of 41.8% at highest CAGR of 3.07%. The long oil is leading the
alkyd resin sub-segment owing to high durability, gloss retention, and
flexibility. With superior performance of alkyd resins, they are used in
numerous application such as building & construction, automotive,
industrial, furniture, and others. Building & construction is a fastest
growing segment and accounts for a market share of 36.0% by the end of 2016.
Increasing expenditure on residential as well as non-residential activities
across the globe is slated to drive the market growth. Nevertheless, shifting
preference towards water-borne resin technology due to less VOC content are
likely to provide a lucrative opportunity to market players.
FIGURE 1 Global Alkyd Resin Market,
by End-Use Industry 2016 (%)
Regional Analysis
Based on geography, the global alkyd
resin market is segmented into North America, Europe, Asia Pacific, Latin
America, and the Middle East & Africa.
Asia Pacific is leading the global
market by accounting for 36% market share and is projected to reach USD 1,213.5
million by 2023 owing to rapid urbanization and industrialization. Increasing
sales of a passenger car in China, South Korea, Japan, and India are likely to
propel the global alkyd resin market. Moreover, gaining importance of a digital
color solution along with rehabilitation of old paint shops are expected to
drive the product demand.
Europe is the second most promising
region, which is accounted for the global market shares of 28% and is projected
to grow at a CAGR of ~3.04% during the forecast period. Rising environment
concern regarding VOC emission and high usage of cobalt-based driers has led to
shifting trend towards waterborne alkyd resins. Moreover, huge automotive
production base along with growing purchasing power of the consumer is
projected to drive the regional market.
The Middle East & Africa is the
fastest growing region and it is estimated to grow at CAGR of ~3.44% during the
assessment period, 2017-2023. Rising sales of luxurious cars in the Middle East
& Africa are likely to boost the demand for automotive refinishes, which,
in turn, drive the alkyd resin market.
Segmentation
The alkyd resin market is fragmented
on the basis of type, end-use industry, and region. On the basis of the type,
the market is segmented into oil-based, modified, water reducible, and others.
Furthermore, types are sub-segmented into short oil, medium oil, and long oil.
According to the end-use industry,
the market is segmented into building & construction, automotive, industrial,
furniture, and others. The building & construction industry is leading the
global market followed by automotive industry.
Key Players
Some of the major players operating
in the global alkyd resin market are Polynt SpA, Nord Composites, Mancuso
Chemicals Limited, D.S.V Chemicals Pvt Ltd., Macro Polymers, BASF SE,
Spolchemie, DowDuPont Inc., DSM, Arkema SA, and Cytech Solvay Group.
Geographic Analysis
The report covers brief analysis of
geographical region such as:
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K
o Russia
o France
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East & Africa
o Turkey
o Israel
o G.C.C.
o North Africa
o Rest of Middle East & Africa
Key Findings
• Global alkyd resin market is
projected to reach USD 3,257.7 million by 2023 at a CAGR of 3.32%
• Asia Pacific emerged as the global
leader in this market accounting for 36% share of the global market and is
estimated to reach USD 1,213.5 million by 2023
• In 2016, China as an individual
country accounted for the largest revenue of USD 586.3 million and is projected
to grow at a CAGR of 3.83% over the forecast period
• U.S., China, India, Germany, and
Mexico are key countries to be observed in the global alkyd resin market.
Rising investments in the architectural coating and furniture segment are
expected to drive the product demand
• With the development of waterborne
latex resins, alkyd resin producers have gained significant importance in
numerous industries such as building & construction, automotive, and
furniture
Intended Audience
• Alkyd resin manufacturers
• Traders and distributors of Alkyd
resin manufacturers
• Production process industries
• Potential investors
• Raw material suppliers
DC –Description
• Alkyd paint
• Plastic resin
• Long oil alkyd resin
• Alkyd Resin properties
• Alkyd oil
• Alkyd medium for oil painting
• Medium oil alkyd
• Paint resin manufacturers
FOR MORE DETAILS:- https://www.wiseguyreports.com/reports/3517561-global-alkyd-resin-market-research-report-forecast-to-2023
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