In-Depth Examination of Segments, Industry Developments, and Key Players in the Alkyd Coating Market

The alkyd coating market is poised for significant expansion in the coming years, driven by evolving industry demands and sustainable innovations. As the market embraces eco-friendly formulations and adapts to shifting applications, it promises notable growth and interesting developments. Below is a detailed look at the market's size, key players, emerging trends, and segment analysis.

Projected Growth and Market Size of the Alkyd Coating Industry
The alkyd coating market is anticipated to grow strongly, reaching a valuation of $38.38 billion by 2030. This expansion is expected at a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth include a shift toward environmentally friendly coatings, increasing adoption of waterborne alkyds, higher spending on infrastructure maintenance, rising demand for automotive refinishing, and advances in modifying alkyd resins. Noteworthy trends predicted to influence the market over the forecast period are the development of low VOC alkyd formulations, a move towards waterborne alkyd coatings, growing demand for corrosion-resistant industrial coatings, increased use in infrastructure refurbishment projects, and a preference for cost-effective, durable coatings.

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Leading Players Influencing the Alkyd Coating Market
The alkyd coating industry is dominated by several key companies such as Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paints Co Ltd, Axalta Coating Systems, Asian Paints, Jotun A/S, Hempel A/S, Benjamin Moore, Teknos Group, Chugoku Marine Paints Ltd., Specialized Coating Systems, Thomas Industrial Coatings, Angel Coating Pvt, G and C Coatings & Industrial Services, Goa Paints, Protek Paint Ltd, Dunn-Edwards Corporation, Kelly-Moore Paints, Diamond Vogel Paints, National Paints Factories Co., and TOA Paint. These players have a significant presence and influence across various segments and geographies.

Recent Acquisition Expanding Alkyd Coating Capabilities
In July 2024, Sheboygan Paint Company, a US-based manufacturer, acquired Bradley Coatings Group, a specialty coatings producer known for water-based alkyd coatings. Although the financial details were not disclosed, this acquisition aims to broaden Sheboygan Paint Company's portfolio by incorporating Bradley Coatings' expertise in water, solvent, and radiation cure technologies. The integration is designed to provide customers with a smoother transition and reflects Sheboygan's strategic commitment to expanding its product offerings.

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Innovations Advancing Sustainability in the Alkyd Coating Market
Focusing on sustainability, leading companies are pioneering bio-based waterborne alkyd coatings to reduce environmental impact. These coatings, made from renewable natural materials combined with water, lower volatile organic compound (VOC) emissions and promote eco-friendly alternatives. For example, in January 2024, Germany-based Worlée Chemie GmbH partnered with US-based Baril Coatings to showcase the first bio-based industrial coating using bioMPA (3-methyl phthalic anhydride) as a substitute for fossil-derived phthalic anhydride. This high-performance waterborne alkyd coating demonstrates a promising shift toward greener technologies, with ongoing efforts to expand its application across different industries.

Segment Breakdown and Comparative Insights in the Alkyd Coating Market
This report segments the alkyd coating market by several categories:
1) Type: Non-Drying, Drying, Semi-Drying
2) Process Type: Fatty Acid Process, Glyceride Process
3) Formulation Type: High Solids Alkyds, Waterborne Alkyds, Modifying Alkyds, Solvent Borne Coatings, Other Formulations
4) Application: Decorative Coatings, Industrial Coatings, Automotive Coatings, Other Uses
5) End-Use Industry: Automotive, Architecture, Marine, Appliances, and Others

Further subcategories include:
- Non-Drying: Linseed Oil-Based Alkyds, Soybean Oil-Based Alkyds
- Drying: Short Oil Alkyds, Medium Oil Alkyds, Long Oil Alkyds
- Semi-Drying: Semi-Drying Oil Alkyds, Modified Alkyds

This detailed segmentation helps in understanding the market dynamics and the specific areas driving growth within the alkyd coating sector.

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This release was published on openPR.