Pune, India -- (SBWIRE) -- 07/21/2018 -- Alkyd Resin finds significant application in protective coating manufacturing, as it can greatly improve the weathering properties of protective coating. At the same time, Alkyd Resin is a key raw material used for manufacturing varied synthetic paints. This is because Alkyd Resin has exceptional compatibility with a wide range of coating polymers. The resin is also used in manufacturing industrial coatings, concrete floor and traffic paints. A recent study conducted by Market Research Future (MRFR) reveals that the global market for Alkyd Resin will witness a steady growth over the next couple of years.

Factors such as increased sales of concrete floor coatings, rising disposable income per capita and rapid industrialization are driving the global market for Alkyd Resin. Alkyd Resin also finds application in the oil & gas industry, which remains a key growth enabler for the market. In addition, the resin is used in production of automotive paint and hence considered an important raw material in the automotive industry. Over the years, sales of automobile has continued to increase by manifolds, which has augured well for the alkyd resin market. On the flip side, stringent environmental regulations on volatile organic compounds (VOC) emission are posing a sever threat to the market. Therefore, manufacturers are actively focusing on developing waterborne latex resins that meet the VOC emission standards.

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Global Market for Alkyd Resin – Segmental Analysis

Based on Type, the market has been segmented into long oil, medium oil, short oil and others. By application, the market has been segmented into architectural coatings, automotive paints, printing ink, industrial coatings, furniture coatings and others. By region, the market has been segmented into Europe, North America, Asia Pacific, Latin America and the Middle East & Africa (MEA).

Regional Overview

The market in Asia Pacific is projected witness a relatively higher CAGR during the assessment period (2017-2023). In recent years, demand for Alkyd Resin has continued to grow in the region owing to factors such as expansion of the manufacturing sector, robust industrialization and rising per capita income in countries such as India, Chia, and Indonesia. Adding to that, the growth of construction has also provided an impetus to the alkyd resin market in Asia Pacific. China remains one of the most important markets in the region, nearly 51% of the population in China lives in urban areas, entailing tremendous construction activities. Concurrently, the strong manufacturing sector in China continues to present opportunities for alkyd resin. North America is the other important region for the Global Alkyd Resin Market. Rebounding economy coupled with a high consumption potential makes North America an attractive market for Alkyd Resin. North America, led by the US, is expected to present lucrative growth opportunities for market during the forecast period. In terms of revenue, the US currently accounts for a largest share of the market in the region followed by Canada.

Global Market for Alkyd Resin – Competitive Dashboard

Some of the leading player operating in the global market for Alkyd Resin include Arkema S.A. (France), Synthopol (Germany), OPC Polymers (U.S.), Emerald Performance Materials (U.S.), Brenntag Specialties, Inc. (U.S.), BASF SE (Germany), Yuen Liang Industrial & Co., Ltd (Taiwan), Polynt Composites USA Inc. (U.S.), Nuplex Industries Ltd. (U.S.), and Regent (U.S.).

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