Global Reactive Diluents Market (2019 to 2025) - Rapid Industrialization in Emerging Economies Presents Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Reactive Diluents Market by Type (Aliphatic, Aromatic, Cycloaliphatic), Application (Paints & Coatings, Composites, Adhesives & Sealants), Region (APAC, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The reactive diluents market size was USD 992.0 million in 2019 and is projected to reach USD 1,309.3 million by 2025, at a CAGR of 6.6% between 2020 and 2025.
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, the 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.
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» Publication Date: 26/06/2020