Product Code: ETC096167 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Indonesia alkyd resins market is anticipated to grow at a significant CAGR over the forecast period, 2025-2031. 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.
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.
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.
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 2025.
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.
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.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Indonesia Alkyd resins Market Overview |
3.1 Indonesia Country Macro Economic Indicators |
3.2 Indonesia Alkyd resins Market Revenues & Volume, 2021 & 2031F |
3.3 Indonesia Alkyd resins Market - Industry Life Cycle |
3.4 Indonesia Alkyd resins Market - Porter's Five Forces |
3.5 Indonesia Alkyd resins Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Indonesia Alkyd resins Market Revenues & Volume Share, By End-use Industry, 2021 & 2031F |
4 Indonesia Alkyd resins Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Indonesia Alkyd resins Market Trends |
6 Indonesia Alkyd resins Market, By Types |
6.1 Indonesia Alkyd resins Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Indonesia Alkyd resins Market Revenues & Volume, By Type, 2018 - 2031F |
6.1.3 Indonesia Alkyd resins Market Revenues & Volume, By Oil Based, 2018 - 2031F |
6.1.4 Indonesia Alkyd resins Market Revenues & Volume, By Modified, 2018 - 2031F |
6.1.5 Indonesia Alkyd resins Market Revenues & Volume, By Water Reducible, 2018 - 2031F |
6.1.6 Indonesia Alkyd resins Market Revenues & Volume, By Others, 2018 - 2031F |
6.2 Indonesia Alkyd resins Market, By End-use Industry |
6.2.1 Overview and Analysis |
6.2.2 Indonesia Alkyd resins Market Revenues & Volume, By Building & Construction, 2018 - 2031F |
6.2.3 Indonesia Alkyd resins Market Revenues & Volume, By Automotive, 2018 - 2031F |
6.2.4 Indonesia Alkyd resins Market Revenues & Volume, By Industrial, 2018 - 2031F |
6.2.5 Indonesia Alkyd resins Market Revenues & Volume, By Furniture, 2018 - 2031F |
6.2.6 Indonesia Alkyd resins Market Revenues & Volume, By Others, 2018 - 2031F |
7 Indonesia Alkyd resins Market Import-Export Trade Statistics |
7.1 Indonesia Alkyd resins Market Export to Major Countries |
7.2 Indonesia Alkyd resins Market Imports from Major Countries |
8 Indonesia Alkyd resins Market Key Performance Indicators |
9 Indonesia Alkyd resins Market - Opportunity Assessment |
9.1 Indonesia Alkyd resins Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Indonesia Alkyd resins Market Opportunity Assessment, By End-use Industry, 2021 & 2031F |
10 Indonesia Alkyd resins Market - Competitive Landscape |
10.1 Indonesia Alkyd resins Market Revenue Share, By Companies, 2024 |
10.2 Indonesia Alkyd resins Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |