Alkyd Resins Market - Forecasts from 2025 to 2030

The alkyd resins market is valued at US$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.

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.

Reasons for buying this report:-

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• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
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Report 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
• 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