The polymerization and properties of environmentally friendly resin binders applicable in the surface-coating industry were studied. Rubber seed oil (RSO) and RSO blended with 10% and 20% soybean oil (SBO)-based alkyd resins were synthesized by alcoholysis- polyesterification of the oil with glycerol and phthalic anhydride. Physicochemical properties (such as colour, specific gravity, acid value, saponification value, iodine value, and drying schedule) of the alkyd resins were determined to establish the possible industrial potential of the resins. The saponification value and iodine value ranged from 250.19 mgKOH/g to 279.55 mgKOH/g and 29.58 gI2/100g to 33.77 gI2/100g respectively. The drying schedule and chemical resistance of the blended alkyd resins to water, salts, acids, and alkalis were also studied. The blended resins were found to be resistant to water, salt, and acid media, except for alkali media. The colour properties were enhanced as the percentage of the blend increased. FT-IR spectroscopic study of the oil and alkyd resin samples further corroborates our findings. Therefore, the potential of rubber seed oil blended with soybean oil to produce light-coloured alkyd resins could be exploited as raw materials for the Nigerian surface coating industry.