Alkyd Resin Market Size To Reach $6.41 Billion By 2030

Alkyd Resin Market Growth & Trends

The global alkyd resin market size is anticipated to reach USD 6.41 billion by 2030 and is anticipated to expand at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for consumer electronics owing to the advent in technologies such as internet of things (IoT), cloud computing, edge computing, and 5G is propelling the alkyd resin market.

In the electrical and electronics industry, alkyd resins are primarily used for their excellent insulating properties and protective capabilities. They are widely applied in the production of insulating varnishes and coatings that safeguard electronic components and circuit boards from moisture, dust, and electrical interference. These resins provide a durable and reliable barrier, enhancing the longevity and performance of electrical devices. In addition, alkyd resins are used in the encapsulation of transformers, motors, and other electrical equipment, ensuring protection against harsh environmental conditions and electrical stress. Their versatility and effectiveness make them a preferred choice in maintaining the integrity and efficiency of electrical and electronic products.

Alkyd resins are used in aerospace industry primarily for protective coatings on aircraft components. These resins offer excellent durability, weather resistance, and corrosion protection, making them ideal for coating the exterior surfaces of airplanes. Alkyd resin-based paints and coatings help protect aircraft from harsh environmental conditions, such as extreme temperatures and UV radiation, while also providing a smooth, glossy finish that enhances the aerodynamics and aesthetics of the aircraft. In addition, they are used in the maintenance and refurbishment of aerospace equipment, ensuring long-lasting protection and performance. Their effectiveness in providing both protection and aesthetic appeal makes alkyd resins a valuable material in the aerospace sector.

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Alkyd Resin Market Report Highlights

• Based on product, the short alkyd resin segment held the largest share, accumulating USD 1.30 billion market size in 2023. This can be attributed to its increased applications in automobile sector

• Based on formulation, the high-solids alkyds segment is expected to grow at the fastest CAGR over the forecast period, owing to the stringent environmental regulations

• Based on end use, the automotive segment is expected to witness a rapid growth over the forecast period, due to polycarbonate film features such as lightweight, optical clarity and impact resistance

• Asia Pacific dominated the alkyd resin market due to growing industrial, automotive, and construction industry especially in Thailand, Philippines, Bangladesh, India, Indonesia, and Vietnam

• China was the leading manufacturer of alkyd resin in the Asia Pacific region and captured around 35.1% of the revenue market share in 2023 in this region.

• Market players operating in polyester fiber market include Polynt SpA, Nord Composites, Manusca Chemicals Limited, Dow, Macro Polymers, and Cytech Solvay Group

Alkyd Resin Market Report Segmentation

Grand View Research has segmented the global alkyd resin market on the basis of product, formulation, end use, and region:

Alkyd Resin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Short Alkyd Resin

• Medium Alkyd Resins

• Long Alkyd Resins

Alkyd Resin Formulation Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• High-Solids Alkyds

• Waterborne Alkyds

• Modifying Alkyds

• Solvent Borne Coatings

• Others

Alkyd Resin End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Construction

• Electrical & Electronics

• Aerospace

• Others

Alkyd Resin Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Alkyd Resin Market

• Polynt SpA

• Nord Composites

• Manusca Chemicals Limited

• Dow

• Macro Polymers

• Arkema SA

• Cytech Solvay Group

• BASF SE

• Spolchemie

• D.S.V Chemicals Pvt Ltd.

• Orson Resins and Coatings Private Limited