Patent ID: 7141625

Claim:
An aqueous resin composition comprising a polyester resin (A) having an acid value within a range from 10 to 50 and a hydroxyl value within a range from 20 to 150, a vinyl modified polyester resin (B) having an acid value within a range from 20 to 100 and a hydroxyl value within a range from 20 to 150, and a curing agent (C), wherein said polyester resin (A) comprises structural units provided by an aromatic acid and from an alicyclic acid, and a combined total of said structural units provided by said aromatic acid and said alicyclic acid accounts for at least 70 mol % of all structural units provided by polybasic acids in said polyester resin (A), and said vinyl modified polyester resin (B) comprises an aliphatic acid chain having a bonded vinyl polymer section, in which from 15 to 45% by weight of said vinyl modified polyester resin (B) is said vinyl polymer section, and from 10 to 50% by weight of said vinyl polymer section is structural units provided by an α,β-ethylene based unsaturated monomer having a carboxyl group wherein said vinyl modified polyester resin (B) is produced by condensing a vinyl modified fatty acid (D) containing a vinyl polymer section comprising a carboxyl group, and a polyester resin (E) containing hydroxyl groups.