Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Alkyd Resin Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Alkyd Resin Market?
The alkyd resin market has experienced significant growth in the past few years. The market size is predicted to increase from $24.87 billion in 2024 to $26.41 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%.
What Is the Forecasted CAGR for the Alkyd Resin Market by 2029?
The Alkyd Resin market is forecasted to reach a market size of $34.94 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.2%.
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What Are the Market Drivers in the Alkyd Resin Industry?
The key Drivers in the alkyd resin market are:
• Escalating demand for alkyd resins in the expanding automotive industry.
• Rising consumer preference for eco-friendly electric vehicles supported by government incentives.
• Enhanced durability and high-gloss finish of alkyd resin, offering long-lasting protection to vehicles.
• Growth in production of vehicles, specifically plug-in hybrid and battery electric vehicles.
What Is the Segment-Wise Breakdown of the Alkyd Resin Market?
The alkyd resinmarket covered in this report is segmented –
1) By Type: Oil Based, Modified, Water Reducible, Other Types
2) By Resin Type: Non Drying Alkyd Resins, Drying Alkyd Resins, Semi Drying Alkyd Resins
3) By Formulation Type: High Solids Alkyds, Waterborne Alkyds, Modifying Alkyds, Solvent Borne Coatings, Powder Coatings, Other Formulation Types
4) By Application: Coil Coatings, Electrical Insulating Enamels, Maintenance Paint, Automotive Refinishing Primers, Exterior Trim Paints, Packaging, Drum And Metal Container Coating, Other Applications
5) By End Use: Automotive Industry, Architecture Industry, Marine Industry, Food And Beverage Industry, Appliances, Other End Users
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Which Emerging Trends Are Driving Growth in the Alkyd Resin Sector?
The key trends in the alkyd resin market are:
• Major players in the alkyd resin market are focusing on creating bio-based alkyd resins to reduce environmental impact and enhance product performance.
• Production of bio-based alkyd resins using renewable plant-based resources is becoming a key trend in the industry.
• Through the development of bio-based alkyd resins, the market is addressing environmental concerns associated with traditional petroleum-based resins.
• Performance characteristics similar to conventional alkyds, such as durability, drying performance, and resistance to aging, are being maintained in these new, sustainable resins.
Which Companies Are Dominating the Alkyd Resin Market in Terms of Revenue?
The key players in the alkyd resin market are:
• Umicore Cobalt and Specialty Materials
• Covestro AG
• Solvay Group
• Arkema SA
• Eastman Chemical Company
• Nippon Paint Co Ltd.
• Wacker Chemie AG
• Huntsman Corporation
• DIC Corporation
• Polynt SpA
• Macro Polymers Pvt Ltd.
• Hempel A/S
• Amura Polymers Pvt Ltd.
• SpecialChem
• Synthopol
• Synthesia a.s.
• Subham Oils and Resins Pvt Ltd.
• Megara Resins
• Dial4Trade
• Neo-Pack Plast
• Oman CHEMICAL
• Orson Resins and Coatings Pvt Ltd.
• Prestige Coating Ltd.
• Uniform Synthetics
• Krishna Resins and Pigments Pvt Ltd
What Are the Regions Driving Demand in the Alkyd Resin Market?
Asia-Pacific was the largest region in the alkyd resin market in 2024
