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Global Modified Alkyd Resin Market
Global Modified Alkyd Resin Market was valued at USD xx Bn in 2019 and is expected to reach at USD xx Bn by 2027 at a CAGR of xx% over forecast period 2020-2027.
Global Modified Alkyd Resin Market
The report covers an in depth analysis of COVID 19 pandemic impact on Global Modified Alkyd Resin Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Modified Alkyd Resin Market Dynamic’s;
Alkyd resin is generated by the reaction of vegetable oil (fatty acids), polybasic acids and polyols. It can be divided into several series such as long oil type, medium oil type, short oil type and modified type, and it is the major raw material for making paint, lacquer and baking paint. It is mainly used in wood colouring agent, ink, spray enamel, PU, NC topcoat, acid curing, wood basecoat, topcoat, hammer finish, metallic paint and glass paints. Growing demand for alkyd resins in architectural coating along with wood furnishing is mainly driving the market growth over forecast period. Increasing demand for automotive refinishes is expected to boost the market growth owing to high insurance cost, replacement demand from household swapping their old vehicles, and rising expenditure in vehicle refinish.
However, factors such as stringent regulation laid by EPA and increasing preference towards the water-borne coatings due to their low VOC are restraining the market growth over forecast period.
Global Modified Alkyd Resin Market is segmented by type, by application and by Region. By type, silicone alkyd resin held 37.56% of market share in 2019 and is expected to keep its dominance over forecast period. Silicone alkyds are a specialized series of products used to formulate coatings with excellent durability, toughness, abrasion resistance and resistance to cracking caused by severe temperature changes. These resins are used in maintenance paints for steel and concrete, highest quality maintenance finishes, exterior decorative and marine paints, coatings on brass and aluminium, and heat resistant paints. Silicone alkyd resin segment is followed by Acrylic and Urethane. By application, Automotive & Transportation application segment dominated the global market with xx% of market share in 2019 and is expected to keep its dominance over forecast period. Automotive transportation segment is followed by building & construction application owing to rapid industrialization and urbanization across the globe is propelling the market growth.
By geography, Asia-Pacific held 36% of market share in 2019 due to the high demand for modified alkyd resin in major end-use industries, especially in automotive and construction. Supportive government regulations on the use of solvent-based coatings is a major factor propelling market growth. Increasing sales of a passenger car in China, South Korea, Japan, and India are likely to propel the global alkyd resin market. Moreover, increasing importance of a digital colour solution along with rehabilitation of old paint shops are expected to drive the product demand. APAC is followed by Europe and North America. Europe is expected to hold xx% of market share over forecast period. Huge automotive production base in Germany, France, and U.K. along with expanding construction industry is expected to drive the market growth in this region.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are BASF SE (Germany), Dow (US), Polynt (Italy), Wacker Chemie AG (Germany), PPG Industries, Inc (US) and Mitsui Chemicals, Inc. (Japan) among others. These key players collectively accounted 75% of market share in 2019. These key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, strategic alliances, expansion, joint ventures, new product launches, patent and diversification to increase regional presence and business opeartions.
The objective of the report is to present a comprehensive analysis of the Global Modified Alkyd Resin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Modified Alkyd Resin Market dynamics, structure by analyzing the market segments and project Global Modified Alkyd Resin Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Modified Alkyd Resin Market make the report investor’s guide.
Global Modified Alkyd Resin Market Segmentation by Type
• Building & Construction
• North America
• BASF SE (Germany)
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