The alkyd resins market is valued at US$2.36 billion in 2025 and is projected to grow at a CAGR of 4.11% over the forecast period.
Increasing demand from the paints and coatings industry for its application in the automobile and construction industry is anticipated to drive the market. Further, electric car sales witnessed a 35% year-on-year increase. Electric cars accounted for around 18% of all cars sold in 2023, according to the International Energy Agency (IEA). In the automotive sector, resins are used due to their durability, excellent gloss retention, and strong adhesion properties. This increasing adoption of automotive coatings is anticipated to contribute significantly to market growth.
The sales of EVs in Europe have been increasing from 2.7 million in 2022 to 3.2 million in 2023 and are expected to reach 3.4 million in 2024, according to IEA. The automobiles are generally painted with resins that further protect the metal from corrosion and rusting. The production of these vehicles is projected to increase in the future, leading to the alkyd resins market's growth.
Increasing demand from the paints and coatings industry for its application in the automobile and construction industry is anticipated to drive the market. Further, electric car sales witnessed a 35% year-on-year increase. Electric cars accounted for around 18% of all cars sold in 2023, according to the International Energy Agency (IEA). In the automotive sector, resins are used due to their durability, excellent gloss retention, and strong adhesion properties. This increasing adoption of automotive coatings is anticipated to contribute significantly to market growth.
- In 2023, according to the WITS (World Integrated Trade Solution, the top importers of Alkyd resins, in primary forms, were the United States with 33,281,600 Kg, then Germany with 19,725,700 Kg, followed by Canada with 10,560,200 Kg, France with 15,462,700 Kg, and Spain with 13,193,700 Kg.
- In 2023, the top exporters of alkyd resins, in primary forms, are the European Union, then Germany, the Netherlands, followed by Italy and the United States.
Alkyd resins market drivers
Growing automotive industry
According to OICA (International Organization of Motor Vehicle Manufacturers), the production of automotive vehicles has increased 17% in the United Kingdom, 9% in France, and 18% in Germany in 2023 from the previous year. This substantial increase is due to the demand for electric vehicles in the market.The sales of EVs in Europe have been increasing from 2.7 million in 2022 to 3.2 million in 2023 and are expected to reach 3.4 million in 2024, according to IEA. The automobiles are generally painted with resins that further protect the metal from corrosion and rusting. The production of these vehicles is projected to increase in the future, leading to the alkyd resins market's growth.
Alkyd resins market challenges:
- A key challenge when developing alkyd resins is to meet regulatory demands. This creates a price dilemma for manufacturing. Reducing carbon footprint alkyds requires high technology, expertise, and hands-on support.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2030
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The Alkyd Resins market is segmented and analyzed as below:
By Type
- Non-drying Alkyd Resins
- Drying Alkyd Resins
- Semi-drying Alkyd Resins
- Others
By End-use Industry
- Automotive
- Construction
- Electrical & Electronics
- Aerospace
- Others
By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Asia-Pacific
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. ALKYD RESINS MARKET BY TYPE
6. ALKYD RESINS MARKET BY END-USE INDUSTRY
7. ALKYD RESINS MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
- Polynt SpA
- Nord Composites
- Manusca Chemicals Limited
- Dow
- Macro Polymers
- Arkema SA
- Spolchemie
- D.S.V Chemicals Pvt Ltd.
- Orson Resins and Coatings Private Limited
- DIC Corporation
- Umicore
- SPOLCHEMIE
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | November 2024 |
| Forecast Period | 2025 - 2030 |
| Estimated Market Value ( USD | $ 2.36 Billion |
| Forecasted Market Value ( USD | $ 2.89 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
