Indonesia Alkyd resins Market (2024-2030) Outlook | Forecast, Size, Revenue, Industry, Value, Companies, Analysis, Trends, Share & Growth

Indonesia Alkyd resins Market Synopsis

Indonesia alkyd resins market is anticipated to grow at a significant CAGR over the forecast period, 2020-2027. Alkyd resin is a complex material consisting of polyester combined with various other substances such as oils, phthalates and acids. The use of alkyd resins in Indonesia has been increasing significantly due to their superior properties such as excellent adhesion, flexibility and high gloss retention capacity. These characteristics make them ideal for using in different industries including paint & coatings, printing ink and construction. Moreover, rising demand from the automotive industry owing to its non-toxic nature during production process is expected to drive the growth of Indonesia market over the projected timeline.

Market Trends

The growing preference for solvent based paints among consumers due to enhanced durability compared to water based paints will fuel product demand in Indonesia during projection period.Moreover ,the changing regulatory landscape with an aim of curbing air pollution caused by VOCs emitted from these products will lead manufacturers towards producing low VOC formulations which are less toxic than traditional formulations thus boosting market size over coming years. Additionally, government initiatives for encouraging innovation related projects towards achieving sustainability targets have resulted into usage of biobased alkyd resins leading onto furthering propelling regional growth.

Market Drivers

Growing applications across various end user segments along with development of new innovative products coupled with upgradation programmes launched by several manufacturing companies are few factors fuelling industry expansion in Indonesia. Furthermore, introduction of improved technologies like radiation curing systems that provide better performance attributes compared conventional curing methods such as baking or drying used on industrial scale may augment business profitability thereby pushing segment revenue upwards. Additionally, robust presence from major players operating within this sector has enabled easier accessibilities towards technologically advanced raw materials aiding on adoption amongst local manufacturers which could propel industry share ahead.

COVID-19 Impact on the Market

The demand for alkyd resins in Indonesia has been affected by the outbreak of COVID-19. The pandemic has caused an economic recession, resulting in a decrease in industrial production and consumption of alkyd resin products due to the disruption of supply chains and raw material scarcity. Furthermore, since most businesses had to remain closed during lockdown period, manufacturers had to shift their focus from production activities towards tackling immediate challenges as the government imposed strict restrictions on movement. This further disrupted market operations and hindered growth prospects during Q1 2020.

Challenges of the Market

The major challenge faced by Indonesia alkyd resin producers is increasing competition from low-priced foreign suppliers who offer inferior quality products that are available at lower prices than domestic manufacturers. Furthermore, rising energy costs coupled with stringent environmental regulations have made it difficult for players operating in this industry to remain competitive while ensuring compliance with regulatory standards. Additionally, high levels of volatility in global crude oil prices also pose a significant threat as petroleum derivatives form core components of alkyd resins? formulation which directly affects manufacturing costs and profitability margins within this sector.

Industry Key Players

Some leading players operating in the Indonesia Alkyd Resin Market are PT Pertamina (Persero), PT Lotte Chemical Titan Nusantara Tbk., BASF SE, Thai Petrochemical Industry Public Co., Ltd., Dow Inc., Eastman Chemical Company, ExxonMobil Corporation among others.

Key Highlights of the Report:

• Indonesia Alkyd resins Market Outlook
• Market Size of Indonesia Alkyd resins Market, 2020
• Forecast of Indonesia Alkyd resins Market, 2027
• Historical Data and Forecast of Indonesia Alkyd resins Revenues & Volume for the Period 2023 - 2027
• Indonesia Alkyd resins Market Trend Evolution
• Indonesia Alkyd resins Market Drivers and Challenges
• Indonesia Alkyd resins Price Trends
• Indonesia Alkyd resins Porter's Five Forces
• Indonesia Alkyd resins Industry Life Cycle
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Type for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Oil Based for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Modified for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Water Reducible for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Others for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By End-use Industry for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Building & Construction for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Automotive for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Industrial for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Furniture for the Period 2023 - 2027
• Historical Data and Forecast of Indonesia Alkyd resins Market Revenues & Volume By Others for the Period 2023 - 2027
• Indonesia Alkyd resins Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By End-use Industry
• Indonesia Alkyd resins Top Companies Market Share
• Indonesia Alkyd resins Competitive Benchmarking By Technical and Operational Parameters
• Indonesia Alkyd resins Company Profiles
• Indonesia Alkyd resins Key Strategic Recommendations

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