According to Market Research Future (MRFR), The global Coalescing AgentsMarket is poised to register an immense value by 2030, rising from USD 1.2 BN,in 2020. In its recently published analysis, MRFR also asserts that the market would register a CAGR over 5% throughout the forecast period (2022 – 2030). The increase in demand for coatings is expected to boost the demand for coalescing agents.
Coalescing Agents Markets are solvents used in dispersion paints to prevent the coagulation andhelp the application of materials easy, maintaining uniformity in mixtures.These solvents form a film of the polymeric binder particles, which makes them ideal for the use in paints & coatings, adhesive & sealants, and personal care ingredients.
Coalescing agents invariably enjoy an augmenting demand from theburgeoning end-use industries, such as paints & coatings and personal careproducts, among others. Over the past few years, the coalescing agents market is growing significantly due to the growing demand for paints & coatings in the construction, automotive, marine, and aerospace industries. Increasing construction activities have propelled the demand for paint & coatings.
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Major Players:
Key playersleading the global coalescing agents market include Eastman Chemical Company(US), Elementis plc (UK), Synthomer Plc (UK), BASF SE (Germany), DowDuPont(US), Croda International Plc (UK), Arkema (France), Evonik Industries AG (Germany), Celanese Corporation (US), Stepan Company (US), Cargill, Incorporated (US), OXEA GmbH (Germany), Chemoxy International Ltd (UK), Runtai Chemical Co., Ltd.(China), and Rudolf GmbH (Indonesia), among others.
Augmenting demand for high-performance coatings would act as a keydriving force accelerating the growth of the global coalescing agents market.Addition of coalescing agents in water-based coatings makes it environment-friendly material, meeting the regulatory standards of VOC emission such as clean air act (section 183(e)) and (71 FR 28320). This environment-friendly nature of coalescing agents acts as a major tailwind pushing its application in paints and coatings.
Rapid growth in various end-user industries is a key driving forceallowing the market to enjoy increasing traction, worldwide. Moreover, thewidening application area of coalescing agents in cosmetics and personal care products are escalating the growth of the market. Additionally, increasing numbers of manufacturing units and industries and the growing development in the end-user industries are some of the major factors bolstering the growth of the market.
CoalescingAgents Market - Segmentation
The report is segmented into three key market dynamicsto widen the scope of understanding,
By Type :Hydrophilic and Hydrophobic.
By Application :Paints & Coatings, Adhesive & Sealants, Personal Care Ingredients
By Regions : AsiaPacific, North America, Europe, and the Rest-of-the-World.
CoalescingAgents Market - Regional Analysis
The AsiaPacific region leads the global coalescing agents market, growing at asignificant CAGR throughout the forecast period. The economic growth is a key driving force increasing the market demand, improving the consumers purchasing power. Increasing applications of coalescing agents in some of the burgeoning end-use industries, such as automotive, construction, and aerospace are fostering the regional market growth.
Rapidindustrialization in India, China, South Korea, Malaysia, Thailand, Indonesia,and Australia, is expected to increase the application of coalescing agents in industrial coatings. Huge consumption of industrial coatings that are used for corrosion control in concrete & steel and in equipment & machinery would drive the growth of the APAC coalescing agents market during the forecast period, creating a colossal demand.
Besides,factors such as urbanization and the augmenting consumption of the product inpersonal care ingredients would support the regional market to register significant growth over the review period. Rapidly developing countries - Japan, China, and India account for key consumers of coalescing agents in this region. Furthermore, ample availability of low-cost raw material and the cost-competitive labor force alongside, a moderate regulatory framework is driving the regional market growth, attracting foreign investors.
Thecoalescing agents market in the European region takes the second lead,globally. The presence of key manufacturers, such as Evonik Industries and BASF SE is a key factor impacting the growth of the regional market, positively. Factors, such as the growing production and sale of automobiles and the increasing investment in the construction sector are providing a major impetus to the growth of the market in the region, creating a huge demand for paints, coating, and sealant materials. Germany, France, Italy, and the UK account for the major contributors to the market growth in the region.
The NorthAmerica coalescing agents market is emerging as a promising marketglobally. Well-developed end-user industries such as paint & coatings and sealant led by rising demand from the transportation and building & construction industry are driving the coalescing agents market in the region. Strong growth in the automotive and aerospace industries is expected to fuel the regional market growth absorbing a vast amount of paints and coatings materials.
CoalescingAgents Market - Competitive Analysis
Highlycompetitive, the coalescing agents market appears to be fragmented due to thepresence of many large and small-scale players. These players adopt strategic approaches, such as acquisition, collaboration, expansion, and technology launch to churn the competition and thus to maintain their positions in the market.
Manufacturersstrive to deliver the best quality, consistent pure, and reliable, high-qualityproducts based on innovative technologies. They develop a proprietary portfolio of discrete best quality products available in packages ranging from small bottles to drums. They also aim to develop the ability to customize the packaging with the requested specifications such as bulk packaging and individual requirements.
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Industry/ Innovation /Related News:
January 07, 2019 ---- PPG Industries,Inc. (the US), a leading global supplier of paints, coatings, and specialtymaterials announced the acquisition of Hemmelrath Lackfabrik GmbH (Germany), an automotive coatings manufacturer. Hemmelrath is an automotive coatings company with facilities in China, South Carolina, Germany, and Brazil.
In Additionto extending PPG’s robust and diversified automotive coatings offering, theacquisition implies another step forward in its strategic growth plan that will provide further value to its customers and shareholders.
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