Alkyd Resin Market SWOT analysis, Global Profit Growth, Share, Size outlook by 2028 | DowDuPont Inc., Spolchemie, Macro Polymers, BASF SE, and D.S.V Chemicals Pvt Ltd.
Alkyd resins are polyester based materials obtained through reaction between an acid or an anhydride, an alcohol, and a fatty acid or oil. The fatty portion in alkyd resin is derived from vegetable matter and is thus a renewable resource. Owing to their polymer structure, they are ideally suited for application in enamels, paints, varnishes, and synthetic paints. They exhibit excellent weathering properties and serve as versatile, low-cost component for such purposes. Alkyd resins also find application in thermosetting plastics. As per the analysis of Market Research Future (MRFR), the global alkyd resin market is due to reach USD 3,257.7 Mn at a CAGR of 3.32% in terms of value and 3.07% in terms of volume by the end of the forecast period of 2017-2023. The global alkyd resin market was valued at USD 2610 Mn in 2016. Among the factors which are boosting the growth of the global alkyd resin market is growing consumption of paints & coatings. Alkyd resin -based coatings are u