Improving Living Standards to Boost Modified Alkyd Resin Market
Modified Alkyd Resin Industry Overview
Modified Alkyd Resin Market size is projected to expand at a stellar CAGR from 2017 to 2023 (forecast period), according to a new report by Market Research Future (MRFR). Modified alkyd resins are a combination of polyhydric alcohols with polybasic acids and their anhydrides and are known for displaying exceptional high-performance characteristics. Among the major features, these are water resistant, heat resistant, stain resistant, and glossy and can withstand the extreme weather. These features make modified alkyd resins apt for a number of industries including architecture and automobile.
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Drivers and Restraints
With rapid urbanization and improved living standards, real estate and automobile sectors have started experiencing an escalation like never before. Moreover, growing wood and packaging industries in developed and developing countries are looking for more durable materials and modified alkyd resins fit the bill perfectly.
Modified alkyd resins are also in demand as a significant component of paints. Rapid urbanization has led to the production of traffic paints, therefore modified alkyd resin is an essential component. It has proved its mettle as furniture coating material as well.
However, many governments are implementing stringent regulations regarding the use of solvents in paintings and this could defer the market growth within the forecasted period.
Growth in wood industry, end-use industries, and real estate sector is driving the modified alkyd resins market at present and is expected to experience a robust pace during the forecast period. Manufacturers are investing heavily in research and development, as the industry is undergoing a shift. Greener modified alkyd resins are in, as growing eco-awareness is calling for reducing carbon footprint. Hence, the expenditure hike in research and development sector is predicted to bolster market growth in the coming years.
The modified alkyd resin market is segmented by type, application, and region.
By type, the market is segmented into vinyl, polyurethane, silicone, acrylic, and others. Silicone modified alkyd resin is used as a binder for various kind of metals and cement, as it offers excellent heat resistance and can withstand extreme weather. This is also a popular choice as a coating for chimneys and exterior masonry. The gradual growth in wood, automotive and transportation sectors are also developing as is the need for polyurethane modified alkyd resin in these sectors.
Major applications include general industry, automotive & transportation, architectural, wood, and others. The structural application generates the maximum revenue due to increasing real estate developments across the globe and is closely followed by automotive & transportation. Rising middle-class population with disposable incomes is also a factor behind the burgeoning automotive & transportation sector. The sector is predicted to showcase highest CAGR during the forecasted period. Other industries, such as chemical, steel, and fertilizer are not lagging behind and are expected to raise the consumption of modified alkyd resins in upcoming years.
Geographically, the modified alkyd resin market covers five main regions, namely Asia Pacific (APAC), the Middle East & Africa (MEA), Europe, North America, and Latin America (LATAM). The Asia-Pacific region generates the maximum market revenue owing to its growing economy. The region has factors working in its favor, such as growing purchasing power, moderate regulatory framework, and availability of low-cost raw material & labor. Countries, such as India, Malaysia, China, Vietnam, and, Japan are expected to boost the modified alkyd resin market.
North America closely follows Asia Pacific owing to its large consumer base for various industries and eagerness to revitalize construction & electronics industry over the forecast period, 2017 to 2023. Mexico is expected to register the fastest CAGR during the same period. Latin American countries such as Brazil, Argentina, Venezuela, Guatemala, and Colombia may record an average growth due to implementation of new business model prototypes. Significant investment in real estate in Israel, Qatar, Turkey, the United Arab Emirates (UAE), and Saudi Arabia predicts steady growth in the Middle East and Africa.
Prominent players, affecting the modified alkyd resin market globally, are BASF SE (Germany), The Dow Chemical Company (U.S.), Polynt (Italy), Wacker Chemie AG (Germany), PPG INDUSTRIES, INC (U.S.), Mitsui Chemicals Inc. (Japan), Royal Tencate N.V. (the Netherlands), Solvay S.A. (Belgium), Deltech Corporation (U.S.), Synpol Products Private Ltd. (India), Arakawa Chemical Industries,Ltd (India), Henkel AG & Co., KGaA (Germany), Eternal Materials Co.,Ltd. (China), and others.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Modified Alkyd Resin Market
5 Industry Overview Of Global Modified Alkyd Resin Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
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LIST OF TABLES:
Table 1 World Population By Major Regions (2016 To 2023)
Table 2 Global Modified Alkyd Resin Market: By Region, 2016-2023
Table 3 North America Modified Alkyd Resin Market: By Country, 2016-2023
Table 4 Europe Modified Alkyd Resin Market: By Country, 2016-2023
Table 5 Asia-Pacific Modified Alkyd Resin Market: By Country, 2016-2023
Table 7 Middle East & Africa Modified Alkyd Resin Market: By Country, 2016-2023
Table 6 Latin America Modified Alkyd Resin Market: By Country, 2016-2023
Table 8 Global Modified Alkyd Resin By Type Market: By Regions, 2016-2023
Table 9 North America Modified Alkyd Resin By Type Market: By Country, 2016-2023
Table 10 Europe Modified Alkyd Resin By Types Market: By Country, 2016-2023
Table11 Asia-Pacific Modified Alkyd Resin By Type Market: By Country, 2016-2023
Table13 Middle East & Africa Modified Alkyd Resin By Type Market: By Country, 2016-2023
Table12 Latin America Modified Alkyd Resin By Type Market: By Country, 2016-2023
LIST OF FIGURES:
FIGURE 1 Global Modified Alkyd Resin Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Modified Alkyd Resin Market
FIGURE 4 Value Chain Of Global Modified Alkyd Resin Market
FIGURE 5 Share Of Global Modified Alkyd Resin Market In 2016, By Country (In %)
FIGURE 6 Global Modified Alkyd Resin Market, 2016-2023,
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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