Alkyd resins in primary forms market in Belgium

Earlier Report Observations

The market for alkyd resins in Belgium declined from 17 000 thousand dollars in 2018 to 14 880 thousand dollars in 2020. During this period, innovations in bio-based and water-based alkyd resins began to emerge, focusing on reducing volatile organic compounds (VOCs) and improving product quality.

A sharp recovery followed in 2021, with market size jumping to 22 617 thousand dollars, then stabilizing at 23 184 thousand dollars in 2022. This growth was driven by manufacturers' increased focus on lowering VOC content through water-based and hybrid alkyd formulations, which enhanced durability and gloss retention. By 2022, the adoption of eco-friendly and bio-based resins accelerated, with bio-based penetration reaching about 24%, supported by investments in emission control and bio-based raw materials.

The market contracted to 14 268 thousand dollars in 2023 but rebounded to 18 113 thousand dollars in 2024. Despite the 2023 downturn, the bio-based alkyd resin leader Ecoat tripled its production capacity to 15,000 t/y and raised 21 million euros for expansion. In 2024, new Belgian regulations, including the royal decree of 25 May limiting single-use products and increasing recycled content, and the decree of 4 February on drinking water quality, affected environmental standards for the chemical industry. Concurrently, a surge in new business formations—over 113,000 enterprises—stimulated industrial demand. Producers continued shifting toward water-based alkyds, with about 62% of new coatings containing them, and European production of bio-based alkyds reached 48%. However, the Belgian chemical sector faced job losses due to high energy costs and insufficient investments.

Production alkyd resins in primary forms in Belgium

In value, 2017-2020, K $ US

Belgium's production of alkyd resins in primary forms declined for the third consecutive year. In 2020, output was valued at 26 017 thousand US dollars, showing a modest drop of 8.6% compared to the previous year. Over the period from 2017 to 2020, production decreased by 15.8%, with an annualized decline rate of 5.6%.

Annual dynamics of production in Belgium in value, 2017-2020, K $ US

In kind, 2017-2020, t

In 2020, Belgium produced 15 310 tonnes of alkyd resins in primary forms, which is 11.1% lower than the previous year. Between 2017 and 2020, production decreased by 11.4%, equating to an annualized rate of 3.9%. The largest increase occurred in 2019, at 0.8%.

Annual dynamics of production in Belgium in kind, 2017-2020, t

Exports alkyd resins in primary forms from Belgium

Exports in kind, t

After two years of growth, exports of alkyd resins in primary forms from Belgium declined. In 2020, Belgium exported 16 296 tonnes, showing a modest fall of 4.7% from 2019. The maximum volume was recorded in 2019 at 17 096 tonnes, while the largest increase occurred in 2018, at 4.1%.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, t

From 2017 to 2020, Germany, the Netherlands, and Spain formed the core of Belgium's exports in kind. Germany accounted for 48.9% of exports, the Netherlands for 14.3%, and Spain for 12.0%, together making up 75.1% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, K $ US

Exports of alkyd resins in primary forms from Belgium declined for the second consecutive year. In 2020, exports amounted to 27 727 thousand US dollars, down by 1.0% compared to 2019. Between 2017 and 2020, exports decreased by 4.5%, with an annualized rate of 1.5%. The maximum value was recorded in 2018 at 29 515 thousand US dollars, while the largest decline occurred in 2019 at 5.1%. The largest increase was in 2018, at 1.6%.

Annual dynamics of product's exports from Belgium in value, 2017-2020, K $ US

From 2017 to 2020, Germany, the Netherlands, and Spain consistently remained the main destinations for Belgium's exports in value terms. Germany accounted for 46.8% of exports, the Netherlands for 12.9%, and Spain for 12.1%, together comprising 71.7% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Belgium in value, 2017-2020

Imports alkyd resins in primary forms to Belgium

Imports in kind, t

After two years of decline, imports of alkyd resins in primary forms into Belgium increased. In 2020, import volume stood at 9 125 tonnes, corresponding to a rise of 16.9% compared to 2019. Over the period from 2017 to 2020, imports decreased by 6.6%, with an annualized decline rate of 2.3%. The minimum volume was recorded in 2019 at 7 805 tonnes, while the largest decline occurred in 2018, at 20.0%.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, t

From 2017 to 2020, the Netherlands, Germany, and Poland accounted for the largest share of Belgium's imports in kind. The Netherlands represented 43.2% of imports, Germany 22.9%, and Poland 12.7%, together comprising 78.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, K $ US

After two years of decline, imports of alkyd resins in primary forms into Belgium increased. In 2020, imports came to 16 590 thousand US dollars, constituting a moderate advance of 6.6% compared to 2019. Between 2017 and 2020, imports decreased by 4.2%, with an annualized rate of 1.4%. The minimum value was recorded in 2019 at 15 557 thousand US dollars, while the largest decline occurred in 2018, at 7.6%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, K $ US

From 2017 to 2020, the Netherlands, Germany, and Poland accounted for the largest share of Belgium's imports in value terms. The Netherlands represented 41.4% of imports, Germany 20.6%, and Poland 14.3%, together comprising 76.4% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Belgium in value, 2017-2020