Alkyd Resin Market Forecast Report Till 2023 | Global Analysis By Size, Share, Scope, Region And Top Key Players: BASF SE, DowDuPont Inc., Polynt SpA, Nord Composites, D.S.V Chemicals Pvt Ltd., Macro Polymers, Spolchemie

Market Overview:

The Global Alkyd Resin Market was valued at USD 2,610 million in 2016 and is projected to reach USD 3,257.7 million by 2023. The global market is expected to grow at CAGR 3.32% in terms of value and 3.07% in terms of volume.

Alkyd resin, a thermoplastic polyester resin is made by heating polyhydric alcohols and polybasic acids/ their anhydrides. These versatile, and low-cost resins are used in the manufacturing of protective coatings with excellent weathering properties.

Receive Sample Copy Of “Alkyd Resin Market Research Report - Forecast to 2023” At:
https://www.marketresearchfuture.com/sample_request/4925

In addition to its applications in many synthetic paints as a vital component, Alkyd resins are also used in many synthetic paints, varnishes, and enamels. Additionally, Alkyd resin also finds applications as thermosetting plastics that can be molded.

These Alkyd resin-based coatings are mainly used for the furniture and architectural applications along with the product finishes, special-purpose coatings, and automotive refinishing primers. Evidently, automotive and furnishing coating industries are the major consumers of Alkyd resin which drive the market growth of Alkyd resin, driving its demand hugely. The key applications in some of the burgeoning industries are the key factor escalating the market growth of Alkyd resins on the global platform.

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 and has acquired 36% of the global share, expanding at CAGR of 3.82%.

As per the analysis, the U.S., China, Germany, and Mexico was the most promising country-level market, which generated largest revenue due to the high presence of automotive refinishes producers, strong growth of the packaging industry along with large printing inks industry.

On the basis of the type, the oil-based alkyd resin dominated the global market in 2016, with significant market shares of 41.8% and is expected to witness an expanding CAGR of 3.07% during the forecast period. Similarly, the end-use industry is dominated by building & construction and is estimated to reach USD 1,192.3 million by 2023.

Asia Pacific is likely to be the highly focused market for key industry participant over the assessment period. Increasing industrial investment, industrial automation, and industrial expansion have increased the importance of this region among the industry players

Segmentation:

The Alkyd Resin Market is segmented on the basis of type, end-use industry, and region.

By Type:
• Oil-based,
• Modified,
• Water Reducible

Oil based segment is leading the market with 42.0% market share and is estimated to reach USD 1,062.4 million by 2023.

By End-use Industry:
• Building & Construction,
• Automotive,
• Industrial,
• Furniture

Among these application industries, building & construction is leading the market growth owing to rising demand for water-based alkyd resins from the paints & coating industry.

By Region:
• North America,
• Europe,
• Asia Pacific,
• Latin America,
• the Middle East & Africa

Regional Analysis:

The Asia Pacific is leading the global market with 36% of market share and is estimated to reach USD 1213.5 million by 2023. The robust manufacturing base of automotive in China, South Korea, Japan, and India are likely to drive the sales of a passenger car, which, in turn, is expected to drive the alkyd resin market. Rehabilitation of old paint shops coupled with faster access to latest OEM digital color solution is expected to drive trend towards waterborne alkyd-based coating.

The Middle East & Africa is the fastest growing market and is estimated to grow at a CAGR of 3.44% during the forecast period, 2017-2023. Rising demand for luxury cars and performance customization along with huge expenditure on infrastructure development are likely to drive the regional demand for alkyd resin market.

Key Global Competitors:

Some of the key 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,
• Cytech Solvay Group

Intended Audience:

• Alkyd Resin Manufacturers
• Traders and distributors of Alkyd Resin Manufacturers
• Production process industries
• Potential investors
• Raw material suppliers

Browse Complete Report Detail Of “Alkyd Resin Market Research Report - Forecast to 2023” At:
https://www.marketresearchfuture.com/reports/alkyd-resin-market-4925

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future
Office No. 528, Amanora Chambers,
Pune- 411028
Email: sales@marketresearchfuture.com
+16468459312

This release was published on openPR.