Building the Business of Alkyd Resins
The formation of Alkyd resins happens by the condensation reaction of oil or fatty acid, acid, and polyol. The usage of Alkyd resins is seen mostly in a lot of applications and materials. Alkyd resins have advanced weathering capabilities and these have been used widely to manufacture protective coatings. It has been used as a key ingredient in the manufacturing of synthetic paints because of its versatile and low cost.
Read our Book Here: Epoxy Resins Technology Handbook (Synthesis, Epoxy Resin Adhesives, Epoxy Coatings) with Manufacturing Process and Machinery Equipment Details (3rd Edition)
Additionally, to enhance their application properties alkyd resins can be formulated with many coatings polymers. To improve adhesion vinyl resins are often formulated with alkyd resins. NIIR project consultancy services (NPCS) researched and found out that one of the key factors driving the growth of the global alkyd resin market is that these are used widely as raw materials of paint and coating applications.
Related Projects:- Adhesives and Sealants, Industrial Adhesives
Usage of Alkyd Resins
The alkyd surface coatings are one of the most highly consumed types of coatings used across the globe. The high demand for the alkyd resins industry is due to relatively low cost, versatility, and long familiarity with users. Alkyds are used widely in architectural coatings, product finishes, and special-purpose coatings. According to the research these have been partly made from the fatty acids or oils derived from renewable sources which makes them greener than a lot of other competitive coating resins. First used in large quantities in the year 1930s, alkyd were the first synthetic coatings binder used in commercial practice. There are a lot of high properties that alkyd resins show such as great initial gloss, strength, and gloss retention even in harsh weather conditions. Due to these properties, the demand for alkyd resins has grown in the automotive paints and coatings industry. As the growing productive volumes of automobiles globally, the demand for alkyd resins is undoubtedly to increase significantly during the forecasted years. This is going to have a positive impact on the demand for the alkyd resins market in the upcoming years.
Related Books:- Synthetic Resins, Oleoresins And Pine Chemicals Technology
Alkyd Resin Market: Growing Automotive Industry
Globally, the industry of alkyd resins is anticipated to value at USD 2,610 million in the year 2016 and is expected to record USD 3,257.7 million by 2023. The factors that are going to drive the growth of alkyd resins are their demand in architectural coating with wood furnishing. Also, high demand for automotive refinishes are supposed to expand the market growth; high insurance cost, replacement demand from households to swap their old vehicle and increasing spending in vehicle refinish are some of the other reasons of growth. The growing industry of automotive is going to have a positive impact on the alkyd resin market and contribute to its growth significantly over the forecast period. Moreover, the oil-based alkyd resins are sub-segmented into short oil, medium oil, and long oil. From all types of alkyd resin, the oil-based alkyd dominated the global market in the year 2016 with a significant market growth of 41.8% at a maximum CAGR of 3.07%. Globally the increasing expenditure on residential and non-residential activities is expected to drive the market growth. The long oil market is leading the alkyd resin sub-segment due to its high durability, gloss retention, and flexibility. Building and construction is the fastest-growing segment and accounts for a market share of 36.0% by the end of 2020.
Related Video:- Alkyd Resins Manufacturing, Formulation and Processing
Conclusion
NIIR project consultancy services (NPCS) provides the latest information on the present and the future industry trends of alkyd resins through their book “Alkyd Resins Technology Handbook”, allowing the readers to identify the products and services, hence driving the revenue growth and profitability. The Alkyd Resin technology book also shares details of production value with some important factors, upstream raw materials, and downstream demand that can lead to market growth.
Tags:- #DetailedProjectReport #businessconsultant #BusinessPlan #feasibilityReport #NPCS #startupbusiness #startupideas #AlkydResin #ResinMarket #ResinIndustry #resin
Noo_Art20
