Market Trends of Reactive Diluents Industry
This section covers the major market trends shaping the Reactive Diluents Market according to our research experts:
Increasing Application in Paints and Coatings
- Reactive diluents are substances that reduce the viscosity of lacquer for processing and become part of the lacquer during its subsequent curing via copolymerization.
- The increasing buildings and construction sector is attributing to the growing application of reactive diluents in paints and coatings, thereby increasing its market.
- These reactive diluents are added to paints and coatings to decrease viscosity, improve nonflammability, smell, reduce the risk of causing skin irritation, and increase environmental compatibility by lower or no VOC emissions.
- It is estimated that around 27,000 - 50,000 new homes in the United Kingdom are to be built by 2022, which in turn increases the scope for this market.
- The growing demand for paints and coatings from the automotive sector is increasing the application of reactive diluents.
- Hence, owing to the growing application of paints and coatings in buildings & construction, especially in Asia-Pacific and North American countries, the demand for reactive diluents is expected to increase over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for reactive diluents during the forecast period. Due to the high demand from countries like China, India, and Japan, the market for reactive diluents has been increasing.
- The largest producers of reactive diluents are located in the Asia-Pacific region. Some of the leading companies in the production of reactive diluents are Arkema Group, Huntsman International LLC, Olin Corporation, Kukdo Chemical Co., Ltd, Epoxy Division, and Aditya Birla Chemicals (Thailand) Limited.
- The Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion) over the coming five years, creating scope for the application of reactive diluents in paints and coatings.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next ten years, creating a major scope for construction activity.
- Apart from paints and coatings, these reactive diluents are also used in adhesives & sealants, composites, and others with multiple applications in various end-user industries like automotive, electrical & electronics, and others.
- Aliphatic group is the most common type of reactive diluent unit which is widely used in multiple applications
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for reactive diluents during the forecast period.
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