Pune, India -- (SBWIRE) -- 03/20/2018 -- The Global Alkyd Resin Market is categorized into five regions based on geography, namely–North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, Asia Pacific accounts for around 30% market share as of 2016 and is predicted to grow at a healthy CAGR over the assessment period. Asia Pacific market is categorized into China, India, Japan, Thailand, and Indonesia. Aforementioned nations are predicted to drive the demand for Alkyd Resin in the upcoming years due to increased construction activities resulting in the higher consumption of alkyd resin. Moreover, the demand for alkyd resin is increasing for the production of traffic paints owing to expanding urban cities and towns in Asia Pacific countries. In North America, the Alkyd Resin Market is predicted to grow at the highest CAGR during the assessment period 2017-2023. Furniture coatings segment is the key area for alkyd resin consumption in the region.

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Manufacturers are shifting their focus to developing and producing more environment-friendly alkyd resin products, which contain harmful chemicals. Rising demand for green alkyd resin along with technological advancement is predicted to fuel the market growth over the forecast period. European Alkyd Resin Market is classified into Russia, Germany, Spain, Italy, and France. Comparatively, Russia and Germany are expected to be the dominant region on account of increasing automobile manufacturing coupled with increasing innovation. Moreover, the robust presence of automobile manufacturers along with the increasing consumption of Alkyd Resin is predicted to fuel the demand for alkyd resin over the assessment period. In Central and South America, countries such as Brazil and Mexico are expected to witness a significant growth owing to increasing demand for Alkyl-Based Industrial Coatings. The Middle East & Africa region is predicted to be the healthy and growing market due to proposed construction projects to position itself as a tourism hub.

Segmentation

The Global Alkyd Resin Market is segmented on the basis of type, application, and region. Based on the type, the market is categorized into oil soluble and water soluble. Based on the application, the Alkyd Resin Market is classified as crude oil, sludge oil treatment, oil-based power plants, petrol refineries, lubricant manufacturing, and others. Based on the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players

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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