Pune, India -- (SBWire) -- 11/30/2018 --Synopsis of Modified Alkyd Resin Market:

Modified Alkyd Resin belongs to special class of Alkyd Resin with enhanced properties. Alkyd Resins are thermoplastic polyester resins which are manufactured by combination of polyhydric alcohols with polybasic acids and their anhydrides. Modified Alkyd Resin provide excellent properties such as superior outdoor durability, excellent adhesion, high gloss, fast drying, and excellent temperature withstand. They are widely utilized in numerous application such as wood, architectural, automotive & transportation, general industry, and others.

As per our analysis, some of the important market factors and trends identified in the Global Modified Alkyd Resin are rising construction activities, increasing automobile production and sales, and improved living standards. Moreover, expansion of wood industry in developed and developing countries is predicted to fuel the growth of the market over the forecast period, 2017 to 2023. Some other factors attributed to the growth of the market are increasing demand for architectural coatings, continuous growth of end use industries, and favorable governmental regulations. Moreover, heavy investment in construction of residential, commercial, and institutional is expected to fuel the growth of the market over the assessment period, 2017 to 2023. However, stringent regulation implemented on solvent based paints which possess high VOC content is estimated to hamper the growth of the market during the review period.

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Segmentation:

The Global Modified Alkyd Resin Market is classified on the basis of type, application, and region. On the basis of type, the market is segmented into acrylic, silicone, polyurethane, vinyl, and others. On the basis of application, the market is categorized into automotive & transportation, wood, architectural, general industry, and others. On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players:

Some of the prominent players operating in the Global Modified Alkyd Resin Market are BASF SE (Germany), The Dow Chemical Company (U.S.), Polynt (Italy), Wacker Chemie AG (Germany), PPG INDUSTRIES, INC (U.S.), Mitsui Chemicals Inc. (Japan), Royal Tencate N.V. (the Netherlands), Solvay S.A. (Belgium), Deltech Corporation (U.S.), Synpol Products Private Ltd. (India), Arakawa Chemical Industries,Ltd (India), Henkel AG & Co., KGaA (Germany), Eternal Materials Co.,Ltd. (China), and others.

Regional Analysis:

Regionally, Modified Alkyd Resin Market is segmented into five regions namely– North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among all the regions, Asia Pacific dominates the market and accounted for around 34% of the overall market share in 2016, and is estimated to grow significantly during the assessment period. Asia Pacific market is trailed by North America, which is followed by Europe. In Asia Pacific, countries such as India and China are estimated to be the dominant region on account of increased sales of high-end vehicles, and electrical & electronics appliances, and further predicted to drive the growth of market over the forecast period. Furthermore, the market for Modified Alkyd Resin in the Middle Eastern and Latin American countries are estimated to grow due to rising demand for automotive and woodworking sector. European and North American countries are expected to see moderate growth due to growing packaging sector, increasing demand from heavy and light duty vehicles, and rising exploration activities.

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