Reactive Diluents Market Worth 1,072.0 Million USD by 2022
PUNE, India, January 17, 2018 /PRNewswire/ --
The report "Reactive Diluents Market by Type (Aliphatic, Aromatic, and Cycloaliphatic), Application (Paints & Coatings, Composites, Adhesives & Sealants), and Region (North America, Asia Pacific, Europe, Middle East & Africa) - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated at USD 818.9 Million in 2017 and is projected to reach USD 1,072.0 Million by 2022, at a CAGR of 5.5% between 2017 and 2022.
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Browse 77 market data Tables and 28 Figures spread through 118 Pages and in-depth TOC on "Reactive Diluents Market"
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This high growth is fueled by the increasing demand for reactive diluents from various end-use industries such as automotive and building & construction due to the huge requirement for solvent-free paints & coatings and adhesives from these industries. This high demand is mainly due to the rising GDP, growing disposable income, increasing use of composites instead of conventional materials, and increasing number of expansions & other development activities in the regions. Contributions of various automotive associations and companies toward research & development and enhancement of properties of reactive diluents such as low VOC, light weight, durability, low maintenance, and high tensile strength are also some of the drivers for the Reactive Diluents Market growth.
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Aliphatic is projected to be the largest segment of the market during the forecast period, in terms of both value and volume.
Based on type, the aliphatic segment is projected to be the largest segment of the Reactive Diluents Market, in terms of both value and volume, during the forecast period. It is widely used as a reactive diluent in automotive, wind turbine, and building & construction industries. The increasing demand for composites in the automotive sector and the low raw material cost coupled with easy production process are the factors attributed to the growth of aliphatic reactive diluents.
The paints & coatings application of reactive diluents is projected to be the largest segment of the market between 2017 and 2022, in terms of both value and volume.
The paints & coatings application is expected to be the largest segment of the Reactive Diluents Market during the forecast period. As the population rises globally, the demand for related infrastructure (such as buildings) increases. The consumption of reactive diluents in the paints & coatings application is high due to their superior properties, such as low VOC content, low viscosity, chemical resistance, and superior mechanical and electrical properties. These resins are commonly used in floor coating, primer, undercoating, tank lining, waterproof coating in civil construction, and binder coating.
Asia Pacific is projected to be the largest Reactive Diluents Market between 2017 and 2022, in terms of both value and volume.
Asia Pacific is projected to be the largest market for reactive diluents during the forecast period. The demand for reactive diluents is high in the region is due to the large industrial base and high living standard of the population. In addition to this, the increasing use of reactive diluents in the automotive industry and related growth in emerging economies such as India, China, and South Korea also drives the Reactive Diluents Market in the region.
Some of the key players in the Reactive Diluents Market are Hexion (US), Huntsman Corporation (US), Kukdo Chemical (South Korea), Aditya Birla Chemicals (India), and Evonik Industries (Germany). New product launches was the major growth strategy adopted by the market players between 2013 and 2017 to cater to the demand for reactive diluents in emerging economies.
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