Global Alkyd Coatings Market: Introduction

Alkyd coatings are a type of polyester made by heating polyhydric alcohol with polybasic acids or their anhydrides. Alkyd coatings are one of the significantly consumed coatings across the globe, due to low cost, versatility, and prominence among end users. Further, alkyd coatings use oxygen in the air to complete a reaction that changes the coating from wet-flowing to durable and hard. An alkyd coating is a very good choice for industrial and low-end automotive applications. Additionally, alkyd coatings are less expensive than urethanes. Good gloss and color retention, corrosion resistance, and outstanding long-term flexibility are cited advantages of alkyd coatings. Alkyd coatings are used extensively in architectural, industrial, and special purpose coatings. In terms of technology type, the solvent-borne alkyd coatings segment continues to dominate the alkyd coatings market. Subsequently, the aim of the study is to analyze the most recent trends and dynamics in the global alkyd coatings market.

Global Alkyd Coatings Market: Dynamics

The demand for alkyd coatings mainly relies on the macroeconomic environment, and is fueled by industrial production. After a meager growth in the oil and gas sector in the past few years, a slight rebound is expected in the coming years, against the backdrop of economic expansions. Subsequently, healthy growth in the demand for alkyd coatings is anticipated. Furthermore, increasing industrial maintenance activities are assessed to bolster the demand for alkyd coatings. In a longer-term outlook, autonomous driving technology, new safety systems in the automobiles, and the prevalence of ride-sharing will likely pose a threat to the alkyd coatings market. Constantly changing VOC regulations also impact the global alkyd coatings market.

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Moreover, the demand for alkyd coatings in marine seems to be subdued in recent years with the decline in shipbuilding activity. Across the globe, producers of alkyd coatings continue to develop new and improved systems for waterborne and high-solid formulations, to meet increasingly stringent air pollution regulations. In addition, consolidation continues to be a prominent trend in the alkyd coatings market.

Global Alkyd Coatings Market: Segments

The global alkyd coatings market can be segmented on the basis of technology, application, end-use industry, and region.

On the basis of technology, the global alkyd coatings market can be segmented as:

Solvent-borne
Waterborne
High Solids (SB)

On the basis of application, the global alkyd coatings market can be segmented as:

Automotive Refinish
Aerosols
Traffic Paints
Metal and Wood Furniture
Electrical Insulation
Appliances
Metal Furniture
Machinery and Other Industrial Applications

On the basis of end-use industry, the global alkyd coatings market can be segmented as:

Automotive & Transportation
Building & Construction
Electric and Electronics
Oil and Gas
Marine

Global Alkyd Coatings Market: Regional Outlook

Germany outpaces other countries in Western Europe in terms of alkyd coating production and consumption, as a consequence of a well-established automotive industry. Further, Italy and France also spearhead the rest of Western European countries in terms of alkyd coating production. China, being a prominent consumer, is expected to remain at the forefront in the global alkyd coatings market. A growing automotive industry fueled by an advent of electric vehicles in South East Asia & Pacific will proliferate new opportunities in the alkyd coatings market. Furthermore, a positive outlook for the construction industry in India is foreseen to augment the sales of alkyd coatings. In Latin America, the imports of alkyd coatings are mostly observed due to limited manufacturing capabilities. Political uncertainty in Latin America impedes the demand for automobiles, and thereby, hinders the growth of the alkyd coatings market. In a nutshell, the global outlook for alkyd coatings looks promising. However, North America and Europe are expected to witness slow growth in the alkyd coatings market.

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Global Alkyd Coatings Market: Key Participants

List of some of the prominent market participants in the global alkyd coatings market discerned across the value chain include:

Sherwin-Williams Company
PPG Industries, Inc.
Akzo Nobel N.V.
Axalta
BASF Coatings
US Coatings
Benjamin Moore & Co.
Jotun Group
Valspar Inc.
Kansai Paint Co., Ltd.