An appropriate kinetic law that governs some important conditions of the reaction process for dehydrated castor monoglyceride modified alkyd resin has been developed. A kinetic experiment was conducted following a standard procedure. The classical third order conversion rate model was utilized in determining the rate parameters while the viscosity-conversion model suggested by the free-volume theory was applied for the viscosity kinetics studies. The kinetic model considered for this study adequately predicts the reaction progress even beyond the actual gelation point. The effects of the system parameters on both the predicted yields and the corresponding conversion rates were documented in a well-designed sampling space implemented by statistical screening optimization paradigm. The effects of system parameters on the reaction rates further investigated based on Arrhenius equation detect a heavy mass transfer resistance during the esterification process. A detailed analysis of the response reveals a deviation from linear first order kinetics and possible transition to second and higher order kinetics in the later stages of the esterification reaction.