Press release
Alkyd Resin Market: Emerging Technology and Global Forecast through 2031 | Polynt SpA, Nord Composites, Mancuso Chemicals Limited.
Alkyd Resin Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Alkyd Resin market from 2024 to 2031, and what is the market value expected to change by 2031?
Global Aylkd Resin market reached USD 22.5 billion in 2022 and is expected to reach USD 38.4 billion by 2031, growing with a CAGR of 6.9% during the forecast period 2024-2031.
What is Alkyd Resin Market?
The alkyd resin market focuses on the production and application of alkyd resins, which are synthetic polymers widely used in coatings, paints, adhesives, and sealants. These resins are valued for their excellent adhesion, durability, and gloss, making them suitable for industrial, automotive, and decorative applications. Market growth is driven by the increasing demand for protective coatings in various sectors, including construction and automotive, alongside the rising trend toward eco-friendly and low-VOC formulations. Additionally, advancements in technology and the development of bio-based alkyd resins are contributing to market expansion, as manufacturers seek sustainable alternatives to traditional petrochemical-derived products. The growth of emerging economies and ongoing infrastructure projects further support the demand for alkyd resins in coatings and paints.
Growth Driver
Bio-Based Sustainable Alkyd Resin: A Shift Toward Eco-Friendly Materials
In recent years, there has been a significant increase in the development of innovative, environmentally friendly materials derived from bio-based and renewable resources. This shift is largely driven by concerns over the depletion of natural resources and the environmental and economic impacts of petroleum derivatives. Bio-based sustainable alkyd resins, which are made from renewable materials, are gaining traction as an alternative to traditional alkyd resins. These eco-friendly options not only help reduce reliance on fossil fuels but also align with the growing demand for sustainable products in various industries, including paints, coatings, and adhesives. As awareness of environmental issues continues to rise, the market for bio-based sustainable alkyd resins is expected to expand.
Key Players:
Profiles of some of the major players in the global Alkyd Resin market, which include Polynt SpA, Nord Composites, Mancuso Chemicals Limited, D.S.V Chemicals Pvt Ltd., Macro Polymers, BASF SE, Spolchemi, DowDuPont Inc., Arkema SA and DSM.
Industry Development:
On June 5, 2023, Groupe Berkem announced the signing of a memorandum of understanding with Groupe Dolidol to establish a manufacturing and sales facility for alkyd resin in the Ivory Coast. Groupe Dolidol is a prominent pan-African leader in the polyurethane foam, bedding, and industrial joinery sectors.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Alkyd Resin market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Resin: Non-drying Alyd Resin, Drying Alkyd Resin.
By Formulation: Waterborne, Solvent Borne Coatings, Powder Coatings, Others.
By End-User: Building and Construction, Automotive, Electricals and Electronics, Others.
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Key Features:
➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.
➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.
➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.
➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.
➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.
➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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