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Water-based Alkyd Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Application (Architectural, Industrial, and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

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Market Snapshot

Water-based Alkyd Coatings Market-Market Summary
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

>4 %

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Market Overview

The market for water-based alkyd coatings is expected to grow at a CAGR of more than 4% during the forecast period. The major factor driving the growth of the market studied is the shift from solvent-based to water-based technology. On the flipside, significantly high drying time is expected to hinder the growth of the market studied.

  • The architectural segment dominated the market with a significant share and is expected to witness a healthy growth rate during the forecast period.
  • Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.

Scope of the report

The water-based alkyd coatings market report includes:

Application
Architectural
Industrial
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
United Kingdom
France
Germany
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South-America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Construction Activities to Drive the Demand

  • Alkyds are used extensively in architectural coatings – it is one of the most highly consumed types of coatings used in the world, despite the increasing use of other film formers.
  • The success of alkyd resin systems is a result of their relatively low cost, versatility, and long familiarity with users. Promoters of alkyd resins note that they are partly made from fatty acids or oils derived from renewable sources, making them greener than most competitive coating resins.
  • Look but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away, and cracking.
  • Besides this, paints and coatings are also used in interiors of houses to add colors or decorative purposes, along with a wide range of other functions. Their functions vary depending upon the type of environment and room that they are used on.
  • Water-based alkyd coatings are highly durable, lasting nearly twice the customary time frame (depending on formulation), with slow erosion instead of damaging peeling, which allows easy renovation when needed without the need to sand or strip all previous stain.
  • Increasing construction industry across the globe primarily in India and China is likely to have a positive impact on the market.
Water-based Alkyd Coatings Market - Segmentation Trends

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Asia-pacific to Dominate the Market

  • Asia-Pacific dominated the market primarily owing to the increasing regulations coupled with the rising construction industry in China and India.
  • For instance, China’s 13th Five Year Plan started in 2016, and it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
  • Also, the Indian government has been actively boosting housing construction, as it aims to provide a home to about 1.3 billion people. The country is likely to witness around ~USD 1.3 trillion of investment in housing over the next seven years and is likely to witness the construction of 60 million new homes in the country. The availability of affordable housing in the country is expected to rise by around 70% by 2024.
  •  In Japan, in 2019, a sudden rise in residential construction and projects related to the Tokyo Olympics 2020 prompted to the growth of construction industry during 2019. However, with the outbreak of corona virus, the Tokyo Olympics is further postponed to 2021.
  • Such growing demand in various countries is in turn boosting the demand of the market studied.
Water-based Alkyd Coatings Regional Trends

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Competitive Landscape

The market studied is partially consolidated among the top players. The key players include Hempel A/S, Akzo Nobel N.V., PPG Industries, Inc., and The Sherwin-Williams Company, among others.

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Shift from Solvent-based to Water-based Technology

      2. 4.1.2 Increasing Demand from the Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Significantly High Drying Time

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Architectural

      2. 5.1.2 Industrial

      3. 5.1.3 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 United Kingdom

        2. 5.2.3.2 France

        3. 5.2.3.3 Germany

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South-America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 United Arab Emirates

        3. 5.2.5.3 South Africa

        4. 5.2.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel N.V.

      2. 6.4.2 Axalta Coating Systems

      3. 6.4.3 Brillux GmbH & Co. KG

      4. 6.4.4 Cromology

      5. 6.4.5 DAW SE

      6. 6.4.6 Hempel A/S

      7. 6.4.7 Jotun

      8. 6.4.8 Kansai Paint Co.,Ltd.

      9. 6.4.9 National Paints Factories Co. Ltd.

      10. 6.4.10 NIPSEA GROUP

      11. 6.4.11 PPG Industries, Inc.

      12. 6.4.12 RPM International Inc.

      13. 6.4.13 The Sherwin-Williams Company

      14. 6.4.14 TIKKURILA OYJ

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Water-based Alkyd Coatings Market market is studied from 2016 - 2026.

The Water-based Alkyd Coatings Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

  • Hempel A/S
  • The Sherwin-Williams Company
  • Akzo Nobel N.V.
  • PPG Industries, Inc.

Are the major companies operating in Water-based Alkyd Coatings Market.

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