Water-based Alkyd Coatings Market Size (2024 - 2029)

The water-based alkyd coatings market is anticipated to experience growth driven by the transition from solvent-based to water-based technologies, despite challenges such as extended drying times. The architectural segment holds a substantial portion of the market and is projected to maintain a robust growth trajectory. The Asia-Pacific region leads in market dominance and is expected to sustain its position throughout the forecast period.

Water-based Alkyd Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Water-based Alkyd Coatings Market Size

Water Based Alkyd Coatings Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Water Based Alkyd Coatings Market Key Players

*Disclaimer: Major Players sorted in no particular order

Water-based Alkyd Coatings Market Analysis

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.

Water-based Alkyd Coatings Industry Segmentation

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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Water-based Alkyd Coatings Market Size Summary

The water-based alkyd coatings market is poised for growth, driven by a significant shift from solvent-based to water-based technologies. This transition is largely due to the environmental benefits and regulatory pressures favoring greener alternatives. Water-based alkyd coatings are particularly valued in the architectural segment, which holds a substantial market share and is expected to continue its upward trajectory. The coatings are renowned for their durability and ease of renovation, making them a preferred choice in both residential and commercial applications. Despite the advantages, the market faces challenges such as longer drying times, which could impede growth.

The Asia-Pacific region leads the market, supported by robust construction activities in countries like China and India. These nations are experiencing a surge in housing and infrastructure projects, driven by government initiatives and economic growth. The region's dominance is further bolstered by the increasing adoption of water-based alkyd coatings, which align with the region's regulatory standards and sustainability goals. Key players in the market, including Hempel A/S, Akzo Nobel N.V., PPG Industries, Inc., and The Sherwin-Williams Company, are actively contributing to the market's expansion through strategic initiatives and innovations.

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Water-based Alkyd Coatings Market Size - Table of Contents

1. MARKET DYNAMICS
  • 1.1 Drivers
    • 1.1.1 Shift from Solvent-based to Water-based Technology
    • 1.1.2 Increasing Demand from the Construction Industry
  • 1.2 Restraints
    • 1.2.1 Significantly High Drying Time
    • 1.2.2 Impact of COVID-19 Pandemic
  • 1.3 Industry Value-Chain Analysis
  • 1.4 Porter's Five Forces Analysis
    • 1.4.1 Bargaining Power of Suppliers
    • 1.4.2 Bargaining Power of Consumers
    • 1.4.3 Threat of New Entrants
    • 1.4.4 Threat of Substitute Products and Services
    • 1.4.5 Degree of Competition

2. MARKET SEGMENTATION
  • 2.1 Application
    • 2.1.1 Architectural
    • 2.1.2 Industrial
    • 2.1.3 Other Applications
  • 2.2 Geography
    • 2.2.1 Asia-Pacific
    • 2.2.1.1 China
    • 2.2.1.2 India
    • 2.2.1.3 Japan
    • 2.2.1.4 South Korea
    • 2.2.1.5 Rest of Asia-Pacific
    • 2.2.2 North America
    • 2.2.2.1 United States
    • 2.2.2.2 Canada
    • 2.2.2.3 Mexico
    • 2.2.3 Europe
    • 2.2.3.1 United Kingdom
    • 2.2.3.2 France
    • 2.2.3.3 Germany
    • 2.2.3.4 Italy
    • 2.2.3.5 Rest of Europe
    • 2.2.4 South America
    • 2.2.4.1 Brazil
    • 2.2.4.2 Argentina
    • 2.2.4.3 Rest of South-America
    • 2.2.5 Middle-East and Africa
    • 2.2.5.1 Saudi Arabia
    • 2.2.5.2 United Arab Emirates
    • 2.2.5.3 South Africa
    • 2.2.5.4 Rest of Middle East & Africa

Water-based Alkyd Coatings Market Research FAQs

What is the current Water-based Alkyd Coatings Market size?

The Water-based Alkyd Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Who are the key players in Water-based Alkyd Coatings Market?

Hempel A/S, The Sherwin-Williams Company, Akzo Nobel N.V. and PPG Industries, Inc. are the major companies operating in the Water-based Alkyd Coatings Market.

Water-based Alkyd Coatings Report Snapshots