The Alkyd Resins Market Size in Italy has experienced a marked decline over the past decade. From 2013 to 2023, the market dropped significantly from 78.439 million Euros to 30.727 million Euros, highlighting the downward trend. The significant year-on-year percentage decline, especially notable from 2014 to 2015 (-23.08%) and from 2022 to 2023 (-13.17%), reflects this shrinkage. The Compound Annual Growth Rate (CAGR) further quantifies this contraction, with an especially steep average decline of -11.09% over the past five years.
Projected data suggest even sharper declines in the future, with a forecasted 5-year CAGR of -20.86%. By 2028, the market is expected to drop to 8.1072 million Euros, indicating an overall reduction of approximately 68.95% compared to 2024.
Future trends to watch for in the Alkyd Resins Market include:
- Further consolidation in the market as smaller players may exit or be acquired.
- Potential innovation or shifts towards more sustainable alternatives could impact market dynamics.
- Economic factors and industry-specific regulations influencing market growth and stability.