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A02287 | Pages: 300 | Charts: 61 | Tables: 262 |
Alkyd Coatings Market Research, 2032
The global alkyd coatings market was valued at $24.1 billion in 2023, and is projected to reach $44.3 Billion by 2032, growing at a CAGR of 7% from 2024 to 2032.
Market Introduction and Definition
Alkyd coatings, also known as alkyd resins, are synthetic resins used in paints and coatings. They are produced by the polycondensation of polyols (typically glycerol or pentaerythritol) with dibasic acids (like phthalic anhydride) and fatty acids. This composition gives alkyd coatings a unique set of properties, making them highly versatile for various applications. Alkyd coatings are known for their excellent adhesion, durability, and gloss retention. They are typically used in decorative, industrial, and protective coatings due to their ability to form a hard, flexible film that can withstand a wide range of environmental conditions. The drying process of alkyd coatings involves oxidative cross-linking, which means they harden through a reaction with oxygen in the air, a process that is accelerated by the use of dryers or catalysts.
Alkyd coatings play a crucial role in industrial applications where protection against corrosion and environmental degradation is essential. They are often used on metal surfaces, including machinery, equipment, and structural steel. The excellent adhesion properties of alkyd coatings ensure that they form a strong bond with the substrate, providing long-term protection against rust and corrosion. Modified alkyds, such as silicone-alkyds and urethane-alkyds, offer enhanced performance characteristics, including improved weather resistance and chemical resistance, making them suitable for more demanding industrial environments.
In protective coatings, alkyd resins are valued for their ability to provide a tough, resilient barrier against harsh environmental conditions. They are used in marine coatings, where they protect ships and offshore structures from the corrosive effects of saltwater and marine organisms. Alkyd-based primers are commonly used in the automotive industry, providing a robust undercoat that improves the adhesion and durability of subsequent layers of paint. The versatility of alkyd resins allows them to be formulated for specific protective requirements, ensuring optimal performance in a wide range of applications.
Key Takeaways
The alkyd coatings market industry covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of the global alkyd coatings market overview and to assist stakeholders in making educated decisions to achieve their growth objectives.
Over 3, 700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the alkyd coatings market size.
The alkyd coatings market share is highly fragmented, with several players including Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, Nippon Paint Holdings Co., Ltd., Axalta Coating Systems, LLC, Jotun, Kansai Paint Co., Ltd., Hempel (USA) , Inc., and Tikkurila. Also tracked key strategies such as acquisitions, product launches, mergers, and expansion of the players operating in the alkyd coatings market growth.
Key Market Segments
Key Market Players