Alkyd Resins Market Size, Share, Opportunities, And Trends By Type (Non-drying Alkyd Resins, Drying Alkyd Resins, Semi-drying Alkyd Resins, Others), By End-use Industry (Automotive, Construction, Electrical & Electronics, Aerospace, Others), And By Geography - Forecasts From 2025 To 2030

The alkyd resins market is valued at USD 2,367.541 million 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.

• 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.

What are the drivers of the alkyd resins market?

• 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.

• Rising demand for paints and coatings in the construction industry

The construction and building industry worldwide is showing significant growth. One of the major reasons for this industry's expansion is the growing global urbanization. Urbanization causes the rapid industrialization of the country and region. Following this, in June 2023, Arkema introduced SYNAQUA4856, which is a waterborne alkyd resin made from 97% bio-based raw materials. It is APEO, ammonia, solvent, and plasticizer-free. Another offering is COAPURTM 3020 BB & COAPURTM 817 BB, polyurethane thickeners made from 93% bio-based raw materials. These product offerings ensure circular sourcing and a lower carbon footprint. These are used in paints for interior walls.

• The alkyd resins market is segmented into five regions worldwide:

By geography, the alkyd resins market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see notable growth in the alkyd resins market due to increasing consumer electronics, automotive, and construction applications. The Indian electronics industry is one of the most rapidly growing industries. In the past few years, India captured a sizeable market share in electronics manufacturing. For the country to be a global electronics producer, it is aiming to be a US$1 trillion digital economy, and the electronic market would stand at around US$180 billion by 2025-26.

North America is expected to have a significant market share for phenoxy resins due to their major utilization in the construction and paint industry. The construction industry has been a major part of the country's economy.  According to the U.S. Census Bureau, the new residential construction of the housing units started at 1419.9 (in thousands) in 2023.

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.

Product offerings in the alkyd resins market:

• CHS-ALKYD F 261 X 60 and CHS-ALKYD AKS 261 X 60 – CHS-ALKYD F 261 X 60 and CHS-ALKYD AKS 261 X 60 are offered by Spolchemie. CHS-ALKYD F 261 X 60 is a fast-drying short-oil alkyd resin with anti-corrosion resistance and UV stability. This is designed for protective coating, mechanical properties, hardness, and low yellowing for anti-corrosion coatings. CHS-ALKYD AKS 261 X 60 can be used at low temperatures from 5°C. This alkyd resin is designed for super-fast drying industrial topcoats and anti-corrosion primers.
• Alkyd Resins by Polynt S.p.a-  Polynt S.p.a Offers Alkyd Resins in four major categories based on the percentage of oil content. Short oil resins, with 30-40% oil, are widely used as plasticizers or paints for metal surfaces and mechanical as stove enameling coating for cars. Medium oil resins contain between 45 and 55% oil and are used for the production of quick-drying enamels that are applicable to brush. The long oil resins, containing 55-70% oil, are majorly used in marine paints or for producing architectural enamels. The very long-oil paints, containing more than 70% oil, are used in the construction sector and for printing inks.

Key developments in the Alkyd Resins market:

The major alkyd resins market leaders are DIC Corporation, Umicore, Arkema SA, Spolchemie, D.S.V Chemicals Pvt Ltd., Polynt SpA, and Dow, among others. These players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,

• In April 2024, ASK Chemicals launched NECOWEL alkyd resins for environment, safety, and superior performance.
• In March 2022, Groupe Berkem launched its 100% bio-based alkyd resins range. This was aimed at the construction paints market. Groupe Berkem deployed its expertise in plant extraction and formulation. Groupe Berkem invested in the development of bio-based solutions. Lixol’s Research & Development laboratory worked on a resin made from bio-based and renewable raw materials. This could replace raw materials of petrochemical origin. This new bio-based range was aimed at the formulation of high-solid decorative paint with a low environmental impact. This solution addresses the construction paints market. Groupe Berkem intended to extend its eco-responsible range.
• In January 2022, Orion Engineered Carbon Arkema announced its SYNAQUA 4856 alkyd had been approved to carry the United States Department of Agriculture (USDA) Certified Biobased Product label. SYNAQUA 4856 alkyd was made from 97% biobased materials. This biobased material comes from byproducts of predominately NORDIC foresting and is APEO, ammonia, solvent, and plasticizer-free. SYNAQUA 4856 alkyd can be used for a wide range of desirable benefits in interior wall paint, including gloss potential, chemical and scrub resistance, hardness development, etc. SYNAQUA 4856 alkyd is a waterborne binder. The gloss paints can provide a range of benefits, including low VOC capabilities, good whiteness, high gloss, good drying, etc.

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
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growing automotive industry

4.1.2. Growing demand for paints and coatings in the construction industry

4.1.3. Rising aerospace industry

4.2. Market Restraints

4.2.1.  Stricter regulations

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. ALKYD RESINS MARKET BY TYPE

5.1. Introduction

5.2. Non-drying Alkyd Resins

5.3. Drying Alkyd Resins

5.4. Semi-drying Alkyd Resins

5.5. Others

6. ALKYD RESINS MARKET BY END-USE INDUSTRY

6.1. Introduction

6.2. Automotive

6.3. Construction

6.4. Electrical & Electronics

6.5. Aerospace

6.6. Others

7. ALKYD RESINS MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Polynt SpA

9.2. Nord Composites

9.3. Manusca Chemicals Limited

9.4. Dow

9.5. Macro Polymers

9.6. Arkema SA

9.7. Spolchemie

9.8. D.S.V Chemicals Pvt Ltd.

9.9. Orson Resins and Coatings Private Limited

9.10. DIC Corporation

9.11. Umicore

9.12. SPOLCHEMIE

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