CHICAGO, January 30, 2019 /PRNewswire/ --
According to the new research report "Coalescing Agent Market by Type (Hydrophilic, Hydrophobic), Application (Paints & Coatings, Adhesive & Sealants, Inks, Personal Care Ingredients), and Region (APAC, North America, Europe, Middle East & Africa, South America) - Global forecast to 2023", published by MarketsandMarkets™, the Coalescing Agents Market is projected to grow from USD 1.0 billion in 2018 to USD 1.3 billion by 2023, at a CAGR of 4.9%. The global Coalescing Agents Market is expected to be driven by various factors such as increased demand in application such as high-performance paints & coatings and expansion in end-use industries in emerging economies. With rapid urbanization and increasing manufacturing activities, the Coalescing Agents Market is expected to grow rapidly in the near future.
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Hydrophilic coalescing agent segment is estimated to have the higher share in the overall market.
Based on type, the Coalescing Agents Market has been segmented into hydrophilic and hydrophobic coalescing agent. The hydrophilic segment is projected to account for the larger share of the overall market during the forecast period. Hydrophilic coalescing agents include completely water-soluble or partially water-soluble agents. Water-soluble hydrophilic coalescing agents offer controlled water evaporation, medium to low volatility, and freeze-thaw stability. There is also the risk of losing material into porous material due to diffusion. Partially water-soluble agents are highly efficient coalescing agents having low water solubility. This type of coalescing agent offers excellent conditions to concentrate at the boundary region of the polymeric particle in the dispersed stage due to its balanced hydrophobic/hydrophilic nature. It also reduces the effecting early water resistance or the risk of losing material in the porous substrate.
Paints & coatings application is estimated to account for the largest share of the overall coalescing agent market in 2018.
The paints & coatings application is estimated to account for the largest share of the Coalescing Agents Market in 2018. The market in this segment is also projected to witness the highest CAGR during the forecast period. Coalescing agents are added in the formulation of paints & coatings to foster film formation process during drying. Coalescing agents also impart better film properties such as scrub resistance, heat resistance, and appearance. Rising demand for industrial and architectural coatings in the growing construction and automotive industries will increase the consumption of coalescing agent.
APAC Coalescing Agents Market is projected to witness the highest CAGR during the forecast period.
The Coalescing Agents Market has been studied for Europe, North America, APAC, the Middle East & Africa, and South America. The APAC Coalescing Agents Market is projected to register the highest CAGR during the forecast period. In APAC, countries such as China and India are the largest consumers of coalescing agent due to their increasing manufacturing output and rapid urbanization. India is projected to be the fastest-growing coalescing agent market. This high growth is attributed to the availability of low-cost labor and implementation of government initiatives such as Make in India. The implementation of various government initiatives may create opportunities for growth of the industrial and infrastructure construction sectors. All these factors are expected to drive the coalescing agent market in the region.
Synthomer Plc (UK), Eastman Chemical Company (US), DowDuPont (US), BASF SE (Germany), and Evonik Industries AG (Germany), among others, are the key players operating in the Coalescing Agents Market.
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