Global Alkyd Resin Market 2020-2024 | Superior Properties of Alkyd Resins to Boost Market Growth | Technavio

Technavio has published a latest market research report titled Global Alkyd Resin Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The alkyd resin market is expected to grow by 280.16 thousand MT during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

Alkyd resins are widely used to manufacture protective coatings due to their advanced weathering capabilities. It is also a key ingredient for the manufacture of synthetic paints due to its versatility and low cost. Moreover, alkyd resins can be formulated with many coating polymers to enhance their application properties. Vinyl resins are often formulated with alkyd resins to improve adhesion. Owing to many such benefits, they are used as raw materials in a wide range of paint and coating applications. This is one of the key factors driving the growth of the global alkyd resin market.

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As per Technavio, the growing automotive industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Alkyd Resin Market: Growing Automotive Industry

Alkyd resins exhibit superior properties such as good initial gloss, strength, and gloss retention in harsh climatic conditions. These properties have increased the use of alkyd resins in automotive paints and coatings. With growing production volumes of automobiles across the world, the demand for alkyd resin is bound to increase significantly during the forecast period. This will have a positive impact on the growth of the alkyd resins market during the forecast period.

“Factors such as the increasing demand for waterborne coatings, and the growing demand for printing inks will have a positive impact on the growth of the alkyd resin market value during the forecast period,” says a senior analyst at Technavio.

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Alkyd Resin Market: Segmentation Analysis

This market research report segments the alkyd resin market by application (architectural, industrial, automotive and others), and geography (APAC, Europe, MEA, North America and South America).

The APAC region led the alkyd resin market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rapid industrialization, a growing construction industry, and the burgeoning automotive industry, especially in countries such as China, Malaysia, Indonesia, Vietnam, Japan, South Korea, and India.

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Some of the key topics covered in the report include:

Application

  • Architectural
  • Industrial
  • Automotive
  • Others

Geographic Segmentation

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The alkyd resin market size has the potential to grow by 280.16 thousand MT during 2020-2024, according to Technavio

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/