Alkyd Resins Market: Introduction
- Alkyds are formed by polycondensation of dibasic acid and fatty acid. Alkyds can be defined as oil modified polyester resins. Phthalic anhydride is the commonly used dibasic acid in alkyd synthesis.
- Alkyd resins are the group of synthetic resins. They are used in a wide range of applications due to their low cost and versatility.
- Alkyds are compatible with most of the resins used in the paint industry such as rosin, epoxy, phenolic resin, amino resin, and polyurethanes. Therefore, they can be easily modified to achieve specific properties.
- Paints based on alkyd resins have been among the first to be used in the field of the construction industry. To date, they represent a preferred choice for the treatment of various materials for exterior and interior purposes.
Rise in Building & Construction Activities to Drive Alkyd Resins Market
- Building & construction is one of the rapidly expanding industries in Asia Pacific. Improvement in standard of living, rise in disposable income of consumers, and increase in urbanization are major factors fueling construction activities in the region.
- Usage of specialty resins in adhesives, sealants, and coatings (architectural, decorative, and protective) is essential to meet quality requirements of the building & construction sector. These resins have high resistance to temperature and excellent chemical resistance. Hence, large amounts of resins are anticipated to be used in the construction of infrastructure projects as well as residential and non-residential buildings in the near future. Heat-resistant adhesives processed out of specialty resins (epoxy and amino) make the structural lumber used in commercial buildings an attractive alternative for concrete and steel.
- China accounted for major share of the construction sector in Asia Pacific in 2019. It was followed by India. Demand for specialty resins is anticipated to increase in the residential segment of the construction sector in the near future, due to growth in urbanization and rise in population.
- The building & construction sector in India is expected to expand at a rapid pace during the forecast period, owing to rise in development of infrastructure and governmental support. Furthermore, infrastructure and commercial segments of the construction sector in Indonesia, Thailand, and Singapore are estimated to offer significant opportunities to the alkyd resins market in the next few years.
Applications of Alkyd Resins
- Alkyd resins are important ingredients in various synthetic paints, varnishes, and enamels. They are also used in thermosetting plastics that can be molded. Key applications of alkyd resins include furniture and architectural coatings, product finishes, special-purpose coatings, and automotive refinishing primers.
- Alkyd-amino resin blends are probably the most important group of alkyd resins. Many industrial baking enamels, such as those for appliances, coil coatings, and automotive finishes, are based on alkyd-amino resin blends.
- Chlorinated rubber is often used in combination with medium oil drying-type alkyds. It is primarily employed in highway traffic paints, concrete floor, and swimming pool paints. Applications of alkyd modified silicon resins include heat-resistant paints, marine coatings, and insulation varnishes.
North America to Hold Major Share of Global Alkyd Resins Market
- In terms of region, the global alkyd resins market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of value, Asia Pacific dominated the global alkyd resins market in 2019. This can be ascribed to growth in the construction sector in developing countries such China and India in the region.
- Europe is anticipated to create lucrative opportunities for the alkyd resins market due to the usage of these resins in various end-use industries such automotive, building & construction, marine, and aerospace
- The alkyd resins market in Latin America and Middle East & Africa is projected to expand at a sluggish pace during the forecast period
Key Players Operating in Global Market
- The global alkyd resins market is fragmented, with players focusing on incorporating advanced technologies to gain higher share. These players offer a complete portfolio of products; and focus on different business strategies to strengthen their position.
Prominent players operating in the global alkyd resins market include:
- Akzo Nobel NV
- Arakawa Chemical Industries Ltd.
- Arkema Group
- BASF SE
- Eternal Materials Co. Ltd.
- Evonik Industries AG
Global Alkyd Resins Market: Research Scope
Global Alkyd Resins Market, by Application
Global Alkyd Resins Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Interested in this report?
Get a FREE Brochure now!