Automotive Industry Growth Fuels Demand For Durable Coating Solutions: Core Growth Enabler in the Alkyd Resin Market, 2025

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What Will the Alkyd Resin Industry Market Size Be by 2025?
In recent times, there has been a substantial expansion in the alkyd resin market size. Projections indicate a rise from $24.87 billion in 2024 to $26.85 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. This substantial growth during the historic period can be credited to factors such as the industrial revolution within manufacturing methods, the burgeoning construction sector, the emergence of solvent-based coatings, heightened consciousness about product durability, and an increasing trend of consumer demands for superior quality finishes.

What's the Long-Term Growth Forecast for the Alkyd Resin Market Size Through 2029?
Anticipated robust expansion can be seen in the alkyd resin market, which is expected to escalate to $35.97 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%. The augment in this period is credited to the rising requirement for eco-friendly varnishes, the expansion in construction and motor vehicle sectors, growing awareness about environmental regulations, and the extension of the furniture and woodworking markets. Major trends in the estimated period encompass increasing utilization of renewable raw materials, developments in formulations for superior performance, transition towards low-emission merchandise, necessity in the ornamental and protective varnishes, and innovative coatings with additional functionalities.

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What Are the Key Growth Drivers Fueling the Alkyd Resin Market Expansion?
The rise in the automotive sector is anticipated to boost the alkyd resin market's expansion. The automotive sector, which involves the design, production, and sale of vehicles such as cars, trucks, and motorcycles, is experiencing growth due to the increasing consumer demand for electric vehicles (EVs). This trend is enabled by supportive government incentives promoting eco-friendly transportation options. Alkyd resins, with their superior durability and high-gloss finish, are widely used in the automotive sector to provide long-lasting protection and an attractive surface for vehicles. As an illustration, the Society of Motor Manufacturers and Traders, a UK-based trade group, reported in July 2023 that British car production had dramatically increased by 11.7% in the first half of 2023 to a total of 450,168 units. Additionally, plug-in hybrids (PHEV) and battery electric vehicles (BEVs) saw a massive increase of 71.6%, reaching a record high of 170,231 units by June. The surge in units marked the fifth month of consecutive growth. Consequently, the boom in the automotive sector is fuelling the expansion of the alkyd resin market.

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What Are the Key Trends Driving Alkyd Resin Market Growth?
Key players in the alkyd resin industry are concentrating on the advancement of novel products such as bio-based alkyd resins to improve product efficacy and minimize environmental damage. This kind of resin is derived from renewable plant materials, offering a green alternative to standard petroleum-based resins without compromising similar performance features. For instance, Groupe Berkem, a chemical manufacturer based in France, introduced a line of 100% bio-based alkyd resins specifically for the construction paints sector in March 2023, produced by its subsidiary Lixol. These novel resins are completely made of renewable substances, including vegetable oils and bio-based solvents, thereby eliminating components derived from petroleum. This formulation intends to remove materials derived from petroleum, addressing environmental issues related to traditional chemical products. The newly developed resins are engineered to provide performance traits similar to standard alkyds, including lasting durability, effective drying, hardness over time, and resistance to aging.

How Is the Alkyd Resin Market Segmented?
The alkyd resinmarket covered in this report is segmented -

1) By Type: Oil Based, Modified, Water Reducible, Other Types
2) By Resin Type: Non Drying Alkyd Resins, Drying Alkyd Resins, Semi Drying Alkyd Resins
3) By Formulation Type: High Solids Alkyds, Waterborne Alkyds, Modifying Alkyds, Solvent Borne Coatings, Powder Coatings, Other Formulation Types
4) By Application: Coil Coatings, Electrical Insulating Enamels, Maintenance Paint, Automotive Refinishing Primers, Exterior Trim Paints, Packaging, Drum And Metal Container Coating, Other Applications
5) By End Use: Automotive Industry, Architecture Industry, Marine Industry, Food And Beverage Industry, Appliances, Other End Users

Segments:
1) By Oil Based: Short Oil Alkyds, Medium Oil Alkyds, Long Oil Alkyds
2) By Modified: Soybean Oil Modified Alkyds, Linseed Oil Modified Alkyds, Unsaturated Polyester Modified Alkyds
3) By Water Reducible: Waterborne Alkyd Resins, Water-Dispersible Alkyds
4) By Other Types: High Solids Alkyds, Reactive Alkyds

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Which Companies Are Leading the Charge in Alkyd Resin Market Innovation?
Major companies operating in the alkyd resin market are Umicore Cobalt and Specialty Materials, Covestro AG, Solvay Group, Arkema SA, Eastman Chemical Company, Nippon Paint Co Ltd., Wacker Chemie AG, Huntsman Corporation, DIC Corporation, Polynt SpA, Macro Polymers Pvt Ltd., Hempel A/S, Amura Polymers Pvt Ltd., SpecialChem, Synthopol, Synthesia a.s., Subham Oils and Resins Pvt Ltd., Megara Resins, Dial4Trade, Neo-Pack Plast, Oman CHEMICAL, Orson Resins and Coatings Pvt Ltd., Prestige Coating Ltd., Uniform Synthetics, Krishna Resins and Pigments Pvt Ltd

Which Regions Are Leading the Global Alkyd Resin Market in Revenue?
Asia-Pacific was the largest region in the alkyd resin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alkyd resin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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