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“Growth of the global construction sector is driving the overall reactive diluents market.”
The global reactive diluents market size is expected to grow from USD 952 million in 2020 to 1,309 by 2025, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period. The market is driven by various factors, such as increasing demand for paints and coatings, especially from the construction and automotive industries and the demand for composites from electronics, aerospace, and wind turbine industries. However, outbreak of the novel coronavirus (COVID-19) pandemic, stringent regulations related to the production of epoxy resin and the volatile price of raw materials of epoxy resin can restrain the growth of the market.
“The aliphatic reactive diluent type is expected to grow at the highest rate during the forecast period.”
The aliphatic type is projected to be the fastest-growing segment in the reactive diluents market during the forecast period. This growth can be attributed to the widespread use of aliphatic reactive diluents in major end-use industries, such as building & construction and automotive. This widespread use is due to the low cost of raw materials. The manufacturing process for aliphatic reactive diluents is also simple.
“The paints & coatings segment is expected to hold the largest market share during the forecast period.”
By application, the reactive diluents market is majorly divided into paints & coatings, composites, adhesives & sealants, and others. The paints & coatings application is expected to account for the largest share of the reactive diluents market. The consumption of reactive diluents in this application is high due to their superior properties, such as low VOC content, low viscosity, chemical resistance, and superior mechanical and electrical properties.
“APAC is expected to register the highest growth during the forecast period.”
APAC is expected to register the highest growth during the forecast period due to the increasing industrialization and urbanization. The increasing developments in the building & construction and automotive industries and the growing use of composites in emerging countries of the region are providing huge growth opportunities for the reactive diluents market.
In-depth interviews were conducted with chief executive officers marketing directors, other innovation and technology directors, and executives from various key organizations operating in reactive diluents market.
- By Company Type - Tier 1: 25%, Tier: 50%, and Tier 3: 25%
- By Designation - D Level: 30%, C Level: 20%, Others: 50%
- By Region – Europe: 30%, APAC: 25%, North America: 20%, South America: 15%, Middle East & Africa: 10%
The reactive diluents market contains major players, such as Hexion (US), Huntsman Corporation (US), Kukdo Chemical (South Korea), Aditya Birla Chemicals (India), Evonik Industries (Germany), Adeka Corporation (Japan), Cargill (US), EMS-Griltech (Switzerland), Olin Corporation (US), Sachem (US), Arkema (France), Bluestar Wuxi Petrochemical (China), Atul Chemicals (India), Cardolite (US), DIC Corporation (Japan), Hubei Phoenix Chemical Company (China), Ipox Chemicals (Hungary), Sakamoto Yakuhin Kogyo (Japan), Geo Specialty Chemicals (US), BASF SE (Germany), Nippon Shokubai Co. Ltd (Japan), Air Products and Chemicals (US), Royce (US), King Industries (US), and Leuna-Harze (Germany). The study includes an in-depth competitive analysis of these key players in the reactive diluents market, with their company profiles, recent developments, and key market strategies.
The market study covers the reactive diluents market across segments. The market has been segmented based on type, application, and region. The report also includes the study to define, describe, and forecast the market based on various segmentations and strategically analyze the market segments with respect to individual growth trends, growth prospects, and contribution to the total market.
KEY BENEFITS OF BUYING THE REPORT
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall reactive diluents market.
- This report will also help the stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. This will help them in understanding the key market drivers, restraints, challenges, and opportunities.