Reactive Diluents Market by Type (Aliphatic, Aromatic, and Cycloaliphatic), Application (Paints & Coatings, Composites, Adhesives & Sealants), and Region (North America, Asia Pacific, Europe, Middle East & Africa) - Global Forecast to 2022
“The reactive diluents market is projected to grow at a CAGR of 5.5% between 2017 and 2022, in terms of value.”
The reactive diluents market is estimated at USD 818.9 million in 2017 and is projected to reach USD 1,072.0 million by 2022, at a CAGR of 5.5% between 2017 and 2022. This high growth is fueled by the increasing demand for reactive diluents from end-use industries, such as automotive, wind turbine, and building & construction, due to the huge requirement for paints & coatings, composites, and adhesives from these industries. This growth is mainly due to the rising GDP, growing disposable income, increasing use of composites instead of conventional materials, and increasing number of expansions and other development activities, globally. Restraints for the reactive diluents market include increasing popularity of alternative resins and stringent regulatory norms and saturated use in developed economies. The developed countries, such as the US, Germany, UK, and Japan, among other Western European countries, have a well-established public, commercial, and transport infrastructure. The developed infrastructure in these countries indicates low opportunities for new construction activities. Hence, the growth rates for reactive diluents market in these countries are expected to remain lower as compared to those in the emerging economies.
“The aliphatic type is projected to be the fastest-growing segment in the market during the forecast period, in both value and volume terms.”
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. Low raw material cost and easy production process are some of the major reasons for the increasing demand for reactive diluents in the above-mentioned industries.
“Asia Pacific is projected to be the largest reactive diluents market between 2017 and 2022, in terms of both value and volume.”
Asia Pacific is projected to be the largest and the fastest-growing market for reactive diluents during the forecast period. Large industrial base and increased infrastructural activities are the major drivers for the growth of the reactive diluents market in the region. Increased industrialization in emerging economies such as Indonesia, India, and China also drives the reactive diluents market growth in the region.
China dominates the reactive diluents market in the Asia Pacific region. Its consumption of reactive diluents has grown significantly and is expected to grow further in the near future. The high growth of the reactive diluents market in China is a result of the growing population, infrastructural development, and rapid urbanization. Moreover, China is one of the leading country in manufacturing of wind turbines, which is a key industry for reactive diluents based epoxy composites.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
• By Company Type: Tier 1 - 45%, Tier 2 - 35%, and Tier 3 - 20%
• By Designation: C Level - 45%, Director Level - 30%, and Others - 25%
• By Region: North America - 30%, Europe - 25%, Asia Pacific - 20%, South America - 15%, and the Middle East & Africa - 10%
The report provides profiles of major market players, such as Hexion (US), Huntsman Corporation (US), Aditya Birla Chemicals (India), Kukdo Chemical (South Korea), Evonik Industries (Germany), Adeka Corporation (Japan), Cargill (US), EMS-Griltech (Switzerland), Olin Corporation (US), and Sachem (US). The report also includes competitive strategies adopted by them to strengthen their position in the market.
The objective of the study is 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. In this report, the reactive diluents market has been segmented based on type, application, and region.
REASONS TO BUY THE REPORT
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the reactive diluents market comprehensively and provides the closest approximations for sizes of all market segments and subsegments across different verticals and regions.
2. This report will help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about new product developments, expansions, and partnerships adopted by the key players in the reactive diluents market.