The reactive diluents market is projected to grow at a rate of 4.5% in terms of value, from USD 921.1 Million in 2019 to reach USD 1.32 Billion by 2027. The primary use of reactive diluents is the minimization of the viscosity of the epoxy resin. In this regards, high demand and extensive application of epoxy resin in composites, coatings & paints, positively impacts the reactive diluents market. The underlying reason being, high demand for epoxy resin in composites, coatings & paints, increases the area of application of reactive diluents, thus driving the growth of the market.
These also find application as a pharmaceutical excipients. Reactive diluents are glycidyl ethers of short-chain alkylphenols or aliphatic alcohols. It is also known as thinners, which are colorless and low-viscosity liquids. The main application of reactive thinners is to minimize the viscosity of an element for enhancing its ease of handling. The reactive diluents market is projected to witness a considerable expansion during the forecast period.
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Top Players in the Global Reactive Diluents Market:
Aditya Birla Chemicals, Hexion, Huntsman, Adeka Corporation, Kukdo Chemicals, Evonik Industries, EMS-Griltech, Cargill, Olin, Sachem, and Nippon Shokubai Co., Ltd.
End-user industries like the automotive sector and construction industry are continually booming. The expansion of the mentioned end-user industries is spurring the demand for coatings and paintings for providing protection from the external environment and enhancing the aesthetic appeal. The rise in demand for coatings and paintings, in turn, contributes to the growth of the reactive diluent market. Furthermore, reactive diluents find application in varied end-user industries ranging from construction, automotive, electrical, and wind energy, among others. The diverse use of reactive diluents also results in propelling the growth of the market.
The COVID-19 pandemic is having a significant impact on the fumaric acid industry. Demand for the product is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Additionally, factors like high volatility of epoxy resin, increasing the popularity of low-cost alternatives, and rigid government regulations on volatile organic compound [VOC] emissions adversely impact the growth of the market.
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Market segmentation based on Type Outlook:
- Aromatic
- Aliphatic
- Cycloaliphatic
End-User Type Outlook:
- Construction
- Automotive
- Electrical & electronics
- Wind-energy
- Others
Application Type Outlook:
- Coatings & Paints
- Composites
- Adhesives & Sealants
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Frequently Asked Questions Answered in the Report:
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