Reactive diluents Market to Grow with a CAGR of 5.94% through 2028
Surge in technological advancements is expected to drive the Global
Reactive Diluents Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Reactive
diluents Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Reactive Diluents Market stood
at USD1.89 billion in 2022 and is anticipated to grow with a CAGR of 5.94%
in the forecast period, 2023-2028. The initiatives taken by government based on
Reactive diluents has led to favorable market conditions for the Global
Reactive Diluents Market. Several factors contribute to the growth of various Reactive
diluents products.
Governments
worldwide are increasingly promoting the use of low-Volatile Organic Compound
(VOC) products to reduce air pollution and mitigate the impact on human health
and the environment. Reactive diluents, which function like solvents in
adjusting coating viscosity for various applications, have emerged as a crucial
solution in this regard. By incorporating reactive diluents into coatings,
manufacturers can achieve the desired performance while significantly reducing
VOC emissions.
With the rising
global focus on sustainability and the urgent need to transition towards more
eco-friendly alternatives, governments are now actively supporting initiatives
for the development and adoption of bio-based alternatives. Specifically, there
is growing support for research and development into bio-based epoxy reactive
diluents. These bio-based diluents are derived from renewable sources, such as
plant oils or bio-based chemicals, and offer a more sustainable and
environmentally friendly option compared to traditional diluents derived from
fossil fuels.The support and investment in bio-based epoxy reactive diluents
not only help decrease reliance on traditional, often environmentally harmful,
diluents, but also stimulate the market for renewable and bio-based diluents.
This, in turn, creates new opportunities for sustainable growth and innovation
in the coatings industry, fostering a more sustainable future for both the
industry and the planet at large.
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market data Figures spread through XX Pages and an in-depth TOC on "Global
Reactive Diluents Market”
Technological
advancements have indeed played a pivotal role in driving the growth of the
reactive diluents market. With the continuous rise in research and development
activities, manufacturers have been able to successfully introduce innovative
products that not only offer improved performance but also provide significant
environmental benefitsThese advancements have led to the development of
low-Volatile Organic Compound (VOC) reactive diluents that are not only
environmentally friendly but also comply with stringent government regulations.
These eco-friendly solutions are becoming increasingly popular as they help
industries meet sustainability goals and contribute to a cleaner environment.
Furthermore, the
recent advent of bio-based reactive diluents represents another significant
leap in technology. These bio-based alternatives not only align with the global
shift towards sustainability but also offer enhanced performance and reduced
environmental impact. By utilizing renewable resources, these bio-based
reactive diluents contribute to the reduction of carbon footprint and promote a
more sustainable future.
In conclusion,
the continuous advancements in technology have revolutionized the reactive
diluents market, introducing innovative and environmentally friendly solutions
that are driving the industry towards a more sustainable and efficient path.
The Global
Reactive Diluents Market is segmented into type, application, regional
distribution, and company. Based on its type, the aliphatic segment held the
largest share in the market. One of the reasons aliphatic diluents are
preferred is because they utilize ingredients that are significantly cheaper
and require minimal processing during manufacturing. This cost-effectiveness
and streamlined production make them highly desirable in various industries
such as automotive, aerospace, and energy sectors. Specifically, aliphatic diluents
find extensive applications in distant operations, further contributing to the
segment's larger market share. Their versatility and efficiency make them a
go-to-choice for many businesses in need of reliable and cost-efficient
solutions.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
This can be attributed to the larger paints and
coatings industry, which has experienced significant growth in recent years.
Emerging markets in countries such as China, Japan, and India, along with other
Asian countries, have shown a remarkable increase in market demand for Reactive
Diluents. These versatile substances find applications across numerous
industries, including automotive, construction, and electronics, where they
play a crucial role in enhancing performance, durability, and sustainability of
various products. The rising need for Reactive Diluents in these industries
reflects the continuous drive for innovation and improvement in manufacturing
processes, as well as the growing awareness towards environmental regulations
and sustainability practices.
Major companies operating in Global
Reactive Diluents Market are:
- Arkema SA
- Cardolite Corp.
- Epoxy Division Aditya Birla Chemicals
(Thailand) Limited
- Evonik Industries AG
- Huntsman International LLC
- King Industries, Inc
- KUKDO CHEMICAL CO., LTD
- Olin Corporation
- Hubei Phoenix Chemical Company
- Hexion Inc.
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“Growing application of Reactive diluents in various
end user industries are key drivers of the Reactive diluents market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Reactive diluents with every
passing year are anticipated to register an impressive growth to Global
Reactive Diluents Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Reactive diluents Market By Type
(Aliphatic, Aromatic and Cycloaliphatic), By Application (Paints &
Coatings, Adhesives & Sealants, Composites, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Reactive Diluents Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Reactive Diluents Market.
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