Alkyd Coating Market to Record 7.5% CAGR Growth Through 2029 | Global Analysis Report

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Alkyd Coating Market Outlook: How is the Market Expected to Grow by 2025?
The market size of alkyd coatings has experienced significant growth in the past few years. The market is projected to expand from $25.13 billion in 2024 to $26.74 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.4%. The historic period's growth is credited to factors such as comprehensive industrialization, escalated infrastructure development, the necessity for long-lasting and affordable finishes, and the expansion in the residential and commercial construction sector.

Alkyd Coating Market Forecast: What Size Will It Reach By 2029?
Anticipated robust expansion is foreseen in the alkyd coating market size in the coming years. The projected value is a rise to $35.7 billion by 2029 with a compound annual growth rate (CAGR) of 7.5%. The forecasted period growth can be associated with factors such as an escalating demand for long-lasting finishes, heightened environmental consciousness, expanded industrial usages, increased urbanization, and regulatory modifications supporting low-VOC formulations. Significant trends for the forecasted period encompass the growing acceptance of environmentally-friendly formulas, innovations in waterborne technology, creation of multi-purpose coatings, self-cleaning mechanisms, and advancements in smart coating technologies.

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Which Key Market Drivers Will Shape Alkyd Coating Industry Trends in 2025-2029?
The expansion of the alkyd coating market is being fuelled by the flourishing automotive sector. The automotive sector, involved in the invention, manufacturing and sales of motor vehicles along with their components and vehicles like cars, trucks and motorcycles, experiences increasing demand owing to economic development, encouraging vehicle ownership. Additionally, the development of technology in creating electric and autonomous vehicles garners more consumer attention. Alkyd coatings are advantageous for automotive uses owing to their robustness, adaptability and superior resilience to weather and wears. For instance, the European Automobile Manufacturers Association, a chief lobbying and standards group for the auto industry based in Belgium, noted that in 2022, global production of motor vehicles touched 85.4 million units. This was a 5.7% increment from the preceding year in May 2023. Therefore, the booming automotive sector is contributing to the growth of the alkyd coating market.

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What Are the High-Growth Segments in the Alkyd Coating Market?
The alkyd coating market covered in this report is segmented -

1) By Type: Non Drying, Drying, Semi Drying
2) By Process Type: Fatty Acid Process, Glyceride Process
3) By Formulation Type: High Solids Alkyds, Waterborne Alkyds, Modifying Alkyds, Solvent Borne Coatings, Powder Coatings, Other Formulation Types
4) By Application: Decorative Coatings, Industrial Coatings, Automotive Coatings, Other Applications
5) By End Use Industry: Automotive Industry, Architecture Industry, Marine Industry, Food And Beverage Industry, Appliances, Other End Use Industries

Subsegments:
1) By Non Drying: Linseed Oil-Based Alkyds, Soybean Oil-Based Alkyds
2) By Drying: Short Oil Alkyds, Medium Oil Alkyds, Long Oil Alkyds
3) By Semi Drying: Semi-Drying Oil Alkyds, Modified Alkyds

Which Global Trends Are Driving Alkyd Coating Market Expansion?
Key players in the alkyd coating market are concentrated on the development of novel solutions, like biobased waterborne alkyd coating, to increase sustainability and lessen their ecological footprint. These biobased waterborne alkyd coatings, manufactured from renewable organic resources combined with water, contribute to the reduction of VOC emissions while championing green practices. For example, Worlée Chemie GmbH, a German supplier of chemical raw materials, joined forces with Baril Coatings, a US firm specializing in high-functioning industrial coatings, in January 2024. Together, they unveiled the first-ever biobased industrial coating, a potent, waterborne alkyd coating which features bioMPA (3-methyl phthalic anhydride) to replace the traditional fossil-based element, phthalic anhydride. The project's main objective is to bolster environmental sustainability by supplanting standard coatings with biobased options. The partners remain dedicated to advancing this technology further and probing its potential usage across varied sectors, pointing to a hopeful pivot towards eco-friendly solutions in the realm of coating materials.

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Who Are the Fastest-Growing Companies in the Alkyd Coating Industry?
Major companies operating in the alkyd coating market are The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paints Co Ltd., DIC Corporation, Axalta Coating Systems, Asian Paints, Jotun A/S, Hempel A/S, Benjamin Moore, Teknos Group., Chugoku Marine Paints Ltd., Safic-Alcan, Specialized Coating Systems, SpecialChem, Thomas Industrial Coatings, ArchiExpo, American Coatings Association, Aexcel Corporation, Angel Coating Pvt, Biorizon, Coatings World, G and C Coatings & Industrial Services, Goa Paints, Protek Paint Ltd

What Is the Regional Outlook for the Alkyd Coating Market by 2029?
Asia-Pacific was the largest region in the alkyd coating market in 2024. The regions covered in the alkyd coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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