Introduction: Short Oil Alkyd Resin Market
Resins are the highly viscous organic substance and are used in the conversion process of the polymers. There are two types of resins available in the global market, natural & synthetic. In addition, Alkyd resins are one of the types of polyesters used in the manufacturing of paints & coatings, food & beverages and in molding for die casting. The short oil alkyd resin is a binder material which is manufactured from the ratio of short oil & alkyd resins. Alternatively, the short oil alkyd resins are also manufactured on the reaction of dibasic acid and polyols for industrial use in the global market.
The percentage of fatty acid in the short oil resins is not more than forty percent, these fatty acids act as the modifying agents in the in the short oil alkyd resins. Owing to less percentage of fatty acid present in the resins, moisture level of short oil alkyd resins is more, hence it takes more time for air drying. Most of the manufacturers are using oven drying method for faster process in the global market. With the increasing in demand for innovative, efficient and advanced processes for short oil alkyd resins, the demand for the short oil alkyd resins is gaining traction in the market in the coming assessment period which will in turn boost the demand for short oil alkyd resins market.
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Market Dynamics: Short Oil Alkyd Resin Market
The demand for short oil alkyd resins is expected to increase in the near future owing to, demand from paints and coatings employed in respective end use industries such as construction, transportation, etc. Also increasing pharmaceutical industry growth and, shifting trend towards adoption of natural resins are some of the key driving factors which can increase the growth of short oil alkyd resin market in the coming assessment period.
However, with these factors there are some key challenges which can restrict the market growth such as, availability of low-priced alternative solutions, shifting agricultural preferences, heavy reliance on single product for short oil alkyd resins, proprietary technologies for short oil alkyd resins production. Manufacturers are planning to invest in product development to gain maximum revenue share from the market. The increasing adoption of natural resins is expected to drive the growth of the short oil alkyd resins market in the coming years.
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Market Segmentation: Short Oil Alkyd Resin Market
Short oil alkyd resin market is segmented on the basis of grade, classification and end use
On the basis of grade, short oil alkyd resin market segmented as
- Food & Pharma Grade
- Industrial Grade
On the basis of classification, short oil alkyd resin market segmented as
- Corn Oil
- Rice Bran Oil
- Sunflower Oil
- Soyabean Oil
- Dehydrated Castor Oil (DCO)
On the basis of end use, short oil alkyd resin market segmented as
- Food & Beverages
- Paints & Coatings
- Machinery Enamels
- Other Industrial
Regional Outlook: Short Oil Alkyd Resin Market
On the basis of regional perspective, Asia Pacific, especially China & India are estimated to remain key growing countries in the coming assessment period, the factors which lift the growth of market are, innovative demand for resins technologies, positive growth of automotive segment and increasing end use industries is estimated to deliver positive growth in the near future. On the basis of opportunity, significant growth potential exists in major economies such as those in Asia Pacific, North America & Europe.
There is considerable demand for short oil alkyd resins products in countries such as China, the United States and EU-five countries. Emerging economics, such as, ASEAN countries are expected to witness for rapid growth owing to increasing demand from premium products. Raising standard of living, increasing disposable income of Western European countries and positive growth in end use industry is expected to represent significant incremental $ opportunity in the region. Middle East & Africa and Latin America are expected to witness for weak growth in the forecast period owing to economic slowdown in the region.
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Some of the key players of short oil alkyd resins market are the
- Mobile Rosin Oil
- The Cary Company
- Deltech Resins
- Synray Corporation
- Macro Polymers
- Madhumita Industries
- Kumar Rotoflex Private Limited