Reactive diluents demand reflected sluggish growth in 2020, yet the industry stakeholders are optimistic of its quick recovery, revealed by Future Market Insights (FMI) in a recently published global report.
As reactive diluents are used for improving consistency of paints & coatings and adhesives & sealants, they are in high demand across a multitude of sectors including building & construction, automotive, electronics among others. Future Market Insights (FMI) sees this as chief driver of the reactive diluents market, which is expected to grow at a positive pace between 2020 and 2030.
However, in the first half of 2020 most of these activities remained impeded, resulting into 40% less demand, comparing against the same period last year.
Using reactive diluents results in better performance of various solutions by improving their thermal stability, tensile strength, adhesion, and other physical attributed. Due to their robust compatibility with water-based and solvent paints, the demand for reactive diluents will continue surging through the course of the forecast period.
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A key point to consider here is that using reactive diluent can significantly reduce emission of volatile organic compounds (VOC). This has boosted its applications in line with technological advancements witnessed across diverse industries. Prospects for the market is expected to get more lucrative as industries adopt composites as a replacement for radical materials traditionally used in automotive and construction applications.
Construction activities are expected to soar higher in tandem with population growth witnessed around the world. This will in turn bolster growth prospects for the reactive diluents market. On the downside, the unprecedented COVID-19 outbreak might result in sluggish near-future opportunities for the market.
Nonetheless, backed by relevant research and development investment by chemical giants, the market could soon recover once the crisis passes. Despite this, the foray of competent alternatives could hamper growth prospects of the market. FMI in a recent study presents a holistic overview of the global reactive diluents market, covering various factors enabling growth and those restraining the market.
Some of the key factors highlighted in the report are:
- East Asia and South Asia Pacific are expected to demonstrate lucrative growth opportunities for the market. Rising building and construction activities besides expansion of automotive and electronics industries will support growth in countries such as India, China, Japan, and South Korea
- Some of the leading companies operating in the market are located across East Asia and South Asia Pacific, making the regions highly attractive markets for reactive diluents
- Government support towards construction activities and infrastructural development will aid the overall market expansion. For instance, smart city projects undertaken by various governments will give a big push to the country’s construction sector, subsequently fuelling the demand for reactive diluents
“The rising demand for lightweight materials across industries is underpinning growth of the reactive diluents market. Using reactive diluents in paints and coatings make them corrosion resistant besides strengthening their mechanical resilience. Coupled with this, government rules of curbing VOC emissions will result in the spike in adoption of reactive diluents,” said a lead analyst at FMI.
Who is winning?
Reactive diluents market is a highly competitive one, exhibiting the presence of several companies. Market players are primarily focusing on the expansion of their global footprint and product portfolio to gain competitive advantage.
Future Market Insights profiles some of the leading players operating in the market. These include Huntsman Corporation, Hexion Inc., Aditya Birla Chemicals, Olin Corporation, Sachem, Inc., Arkema Group, ipox chemicals GmbH, Evonik Industries, Atul Ltd., and Adeka Corporation.
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Get Valuable Insights into Reactive Diluents Market
Future Market Insights executive level blueprint of the reactive diluents in its report. It offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market’s trajectory across these segments are also studied in detail for the period between 2020 and 2030.
The report studies the global reactive diluents market and segments it in terms of type aliphatic, aromatic, and cycloaliphatic. On the basis of function it bifurcates the market into mono functional and multi-functional. Based on end use the market can be categorized into paints & coatings, adhesives & sealants, composites, flooring, and others (comprising tooling, casting, and encapsulation). Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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