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.
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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.
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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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.