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Alkyd Resin Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR41319
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The alkyd resin market share is expected to increase by 280.16 thousand MT from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 3.57%.

This alkyd resin market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers alkyd resin market segmentation by application (architectural, industrial, automotive, and others) and geography (APAC, North America, Europe, and South America). The alkyd resin market report also offers information on several market vendors, including Akzo Nobel NV, Arakawa Chemical Industries Ltd., Arkema Group, BASF SE, Eternal Materials Co. Ltd. , Evonik Industries AG, Mitsui Chemicals Inc., Polynt Spa, Solvay SA, and Synthomer Plc among others.

What will the Alkyd Resin Market Size be During the Forecast Period?

Alkyd Resin Market Size

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Alkyd Resin Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The superior properties of alkyd resins is notably driving the alkyd resin market growth, although factors such as fluctuating crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the alkyd resin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Alkyd Resin Market Driver

The superior properties of alkyd resins are one of the key factors driving the growth of the global alkyd resin market. Alkyd resins are thermoplastic polyester resins produced by heating polyhydric alcohols with polybasic acids or their anhydrides. Alkyd resins are used in manufacturing protective coatings given their good weathering properties. These resins are the most important ingredients that go into manufacturing synthetic paints due to their versatility and low cost. An important attribute of alkyd resins is their compatibility with many other coating polymers. For instance, vinyl resins, i.e., copolymers of vinyl chloride and vinyl acetate, which contain hydroxyl groups, can be formulated with alkyd resins to enhance their application properties, including adhesion. Vinyl resins are often used for making marine top-coat paints. However, due to the superior properties of alkyd resins, their demand is expected to increase during the forecast period. Major paint and coating manufacturers rely heavily on alkyd resins for use as raw materials in paint and coating applications. Growing paint and coating applications will drive the use of alkyd resins during the forecast period.

Key Alkyd Resin Market Trend

The fluctuating crude oil prices will fuel the global alkyd resin market. Alkyd resin is a polyester that is modified by adding fatty acids. Alkyd resins are derived from polyols and a dicarboxylic acid or carboxylic acid anhydride. Polyols are made from crude oil, one of the raw materials used in the production of alkyd resins. Fluctuations in crude oil prices have adversely affected raw material prices, which, in turn, have affected alkyd resin costs in the global market. For instance,  in 2020, crude oil prices dropped to negative territory owing to the pandemic and OPEC- Russia price wars. Such fluctuations in crude oil prices can negatively impact alkyd resin prices and their applications. Moreover, fluctuations in crude oil prices lead to variations in the manufacturing costs of alkyd resin to significantly impact prices for end-users. Such developments have compelled market vendors to adopt various cost-cutting measures, which can affect the quality of alkyd resins and, consequently the market negatively. Such factors will increase the demand for the market in focus during the forecast period.

Key Alkyd Resin Market Challenge

The superior properties of alkyd resins are a major challenge for the global alkyd resin market growth. Alkyd resins are thermoplastic polyester resins produced by heating polyhydric alcohols with polybasic acids or their anhydrides. Alkyd resins are used in manufacturing protective coatings given their good weathering properties. These resins are the most important ingredients that go into manufacturing synthetic paints due to their versatility and low cost. An important attribute of alkyd resins is their compatibility with many other coating polymers. For instance, vinyl resins, i.e., copolymers of vinyl chloride and vinyl acetate, which contain hydroxyl groups, can be formulated with alkyd resins to enhance their application properties, including adhesion. Vinyl resins are often used for making marine top-coat paints. However, due to the superior properties of alkyd resins, their demand is expected to increase during the forecast period. Major paint and coating manufacturers rely heavily on alkyd resins for use as raw materials in paint and coating applications. Growing paint and coating applications will drive the use of alkyd resins during the forecast period.

This alkyd resin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global alkyd resin market is a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the alkyd resin market during the forecast period.

Who are the Major Alkyd Resin Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Akzo Nobel NV
  • Arakawa Chemical Industries Ltd.
  • Arkema Group
  • BASF SE
  • Eternal Materials Co. Ltd. 
  • Evonik Industries AG
  • Mitsui Chemicals Inc.
  • Polynt Spa
  • Solvay SA
  • Synthomer Plc

 

This statistical study of the alkyd resin market encompasses successful business strategies deployed by the key vendors. The alkyd resin market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Akzo Nobel NV - The company manufactures alkyd resins, which are used in manufacturing paints and coatings.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The alkyd resin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Alkyd Resin Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the alkyd resin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Alkyd Resin Market?

Alkyd Resin Market Size

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67% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for alkyd resin in APAC. Market growth in this region will be faster than the growth of the market in regions.

The superior properties of alkyd resins will facilitate the alkyd resin market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

COVID-19 pandemic has negatively affected some of the application sectors, such as the architectural, industrial, and automotive sectors. The COVID-19 pandemic has led to a reduction in the available workforce in the construction sector. Temporary factory closures and layoffs have already begun to hit low-wage workers across the region, as quarantines and travel restrictions due to the COVID-19 pandemic have disrupted the supply chains linked to other countries. However, many countries in the region have started rolling out vaccines against COVID-19, which has resulted in the normalization of the regional economy. This will propel the growth of the regional market during the forecast period.

What are the Revenue-generating Application Segments in the Alkyd Resin Market?

Alkyd Resin Market Market segmentation by region

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The alkyd resin market share growth by the architectural segment will be significant during the forecast period. For architectural applications, alkyd resins are used in architectural coatings that are used in commercial and residential buildings. They protect buildings from elements such as moisture, UV radiation, and microbes. Paints, primers, lacquers, varnishes, and stains are some of the major types of architectural coating products that are formulated using alkyd resins.

This report provides an accurate prediction of the contribution of all the segments to the growth of the alkyd resin market size and actionable market insights on post COVID-19 impact on each segment.

 

Alkyd Resin Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3.57%

Market growth 2020-2024

280.16 th MT

Market structure

Fragmented

YoY growth (%)

3.31

Regional analysis

APAC, North America, Europe, and South America

Performing market contribution

APAC at 67%

Key consumer countries

China, US, Japan, Germany, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Akzo Nobel NV, Arakawa Chemical Industries Ltd., Arkema Group, BASF SE, Eternal Materials Co. Ltd. , Evonik Industries AG, Mitsui Chemicals Inc., Polynt Spa, Solvay SA, and Synthomer Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Alkyd Resin Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive alkyd resin market growth during the next five years
  • Precise estimation of the alkyd resin market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the alkyd resin industry across APAC, North America, Europe, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of alkyd resin market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value chain analysis: Specialty chemicals market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 (thousand MT)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five force summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Architectural - Market size and forecast 2020-2025
      • Exhibit 17: Architectural - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 18: Architectural - Year-over-year growth 2020-2025 (%)
    • 5.4 Industrial - Market size and forecast 2020-2025
      • Exhibit 19: Industrial - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 20: Industrial - Year-over-year growth 2020-2025 (%)
    • 5.5 Automotive - Market size and forecast 2020-2025
      • Exhibit 21: Automotive - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 22: Automotive - Year-over-year growth 2020-2025 (%)
    • 5.6 Others - Market size and forecast 2020-2025
      • Exhibit 23: Others - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 25: Market opportunity by Application

    6 Customer Landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 27: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 28: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 33: Europe - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 37: MEA - Market size and forecast 2020-2025 (thousand MT)
      • Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 39: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 40: Market opportunity by geography (thousand MT)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 41: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 42: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 43: Landscape disruption
          • Exhibit 44: Industry risks
        • 9.3 Competitive scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 46: Market positioning of vendors
            • 10.3 Akzo Nobel NV
              • Exhibit 47: Akzo Nobel NV - Overview
              • Exhibit 48: Akzo Nobel NV - Business segments
              • Exhibit 49: Akzo Nobel NV - Key news
              • Exhibit 50: Akzo Nobel NV - Key offerings
              • Exhibit 51: Akzo Nobel NV - Segment focus
            • 10.4 Arakawa Chemical Industries Co. Ltd.
              • Exhibit 52: Arakawa Chemical Industries Co. Ltd. - Overview
              • Exhibit 53: Arakawa Chemical Industries Co. Ltd. - Business segments
              • Exhibit 54: Arakawa Chemical Industries Co. Ltd. - Key offerings
              • Exhibit 55: Arakawa Chemical Industries Co. Ltd. - Segment focus
            • 10.5 Arkema SA
              • Exhibit 56: Arkema SA - Overview
              • Exhibit 57: Arkema SA - Business segments
              • Exhibit 58: Arkema SA - Key news
              • Exhibit 59: Arkema SA - Key offerings
              • Exhibit 60: Arkema SA - Segment focus
            • 10.6 BASF SE
              • Exhibit 61: BASF SE - Overview
              • Exhibit 62: BASF SE - Business segments
              • Exhibit 63: BASF SE - Key news
              • Exhibit 64: BASF SE - Key offerings
              • Exhibit 65: BASF SE - Segment focus
            • 10.7 Eternal Materials Corp. Ltd.
              • Exhibit 66: Eternal Materials Corp. Ltd. - Overview
              • Exhibit 67: Eternal Materials Corp. Ltd. - Business segments
              • Exhibit 68: Eternal Materials Corp. Ltd. - Key offerings
              • Exhibit 69: Eternal Materials Corp. Ltd. - Segment focus
            • 10.8 Evonik Industries AG
              • Exhibit 70: Evonik Industries AG - Overview
              • Exhibit 71: Evonik Industries AG - Business segments
              • Exhibit 72: Evonik Industries AG - Key offerings
              • Exhibit 73: Evonik Industries AG - Segment focus
            • 10.9 Mitsui Chemicals Inc.
              • Exhibit 74: Mitsui Chemicals Inc. - Overview
              • Exhibit 75: Mitsui Chemicals Inc. - Business segments
              • Exhibit 76: Mitsui Chemicals Inc. - Key offerings
              • Exhibit 77: Mitsui Chemicals Inc. - Segment focus
            • 10.10 Polynt Spa
              • Exhibit 78: Polynt Spa - Overview
              • Exhibit 79: Polynt Spa - Product and service
              • Exhibit 80: Polynt Spa - Key offerings
            • 10.11 Solvay SA
              • Exhibit 81: Solvay SA - Overview
              • Exhibit 82: Solvay SA - Business segments
              • Exhibit 83: Solvay SA - Key offerings
              • Exhibit 84: Solvay SA - Segment focus
            • 10.12 Synthomer Plc
              • Exhibit 85: Synthomer Plc - Overview
              • Exhibit 86: Synthomer Plc - Business segments
              • Exhibit 87: Synthomer Plc - Key news
              • Exhibit 88: Synthomer Plc - Key offerings
              • Exhibit 89: Synthomer Plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 90: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 91: Research Methodology
                • Exhibit 92: Validation techniques employed for market sizing
                • Exhibit 93: Information sources
              • 11.4 List of abbreviations
                • Exhibit 94: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Alkyd Resin Market market growth will increase by $280.16 th units during 2020-2024.
              The alkyd resin market market is expected to grow at a CAGR of 3.57% during 2020-2024.
              Technavio has segmented the alkyd resin market market by application (architectural, industrial, automotive, and others) and geographic (APAC, North America, Europe, South America, APAC, North America, Europe, and South America).
              Akzo Nobel NV, Arakawa Chemical Industries Ltd., Arkema Group, BASF SE, Eternal Materials Co. Ltd. , Evonik Industries AG, Mitsui Chemicals Inc., Polynt Spa, Solvay SA, Synthomer Plc are a few of the key vendors in the alkyd resin market market.
              APAC will register the highest growth rate of 67% among the other regions. Therefore, the alkyd resin market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the alkyd resin market market growth are:
              • superior properties of alkyd resins
              • Growing product utilization in automotiv e manufacturing
              The alkyd resin market market vendors should focus on grabbing business opportunities from the architectural segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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