New York, USA, August 29, 2024 (GLOBE NEWSWIRE) – Market overview:
The global Coalescing agent market The size was USD 1,321.35 million in 2023 and is expected to reach USD 2,081.69 million by 2032. The market is expected to register a compound annual growth rate (CAGR) of 5.2% during the forecast period.
What is a coalescing agent?
Coalescing agents are additives used to improve the polymer film formation and coating properties of the paint. They facilitate the fusion of small droplets of a paint or coating such as pigments, binders and solvents into a continuous and uniform film. The main function of a coalescing agent in paints is to achieve a seamless paint film without gaps and to improve its durability and performance.
Coalescing agents are available in several types, including glycol ethers, esters, alcohols, amides and polymers. The choice is made based on the type of paint being formulated and the desired properties of the particular product. In water-based paints, these additives are used to accelerate water evaporation and improve the adhesion of the paint to the surface being painted.
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Important market statistics:
- The coalescing agents market was valued at USD 1,321.35 million in 2023.
- The market is expected to grow from USD 1,388.74 million in 2024 to USD 2,081.69 million by 2032.
- The coalescing agents market is expected to grow at a compound annual growth rate (CAGR) of 5.2% during 2024-2032.
Key findings from the report:
- The market is experiencing remarkable growth due to factors such as increasing demand for coalescents in various sectors, increasing urbanization and infrastructure development in developing countries, and increasing shift towards sustainable products.
- The market is mainly segmented by device type, application and region.
- From a regional perspective, the market in North America is experiencing significant growth.
Market drivers and trends for coalescing agents:
- Ongoing urbanization and infrastructure developments: High-quality architectural coatings are in high demand in the construction industry. Due to their improved durability and performance, coalescing agents are increasingly being used in large infrastructure projects and in the construction of residential and commercial buildings. The increasing demand for coalescing agents in the construction industry, driven by increasing urbanization, is thus promoting the growth of the coalescing agents market.
- Switching to sustainable products: Tightening environmental regulations worldwide to reduce VOC (volatile organic compound) emissions in paints and coatings has led to a trend towards developing sustainable products. As a result, manufacturers are investing heavily in research and development to create environmentally friendly products, thereby driving the growth of the coalescing agents market.
- Technological innovations: Companies are leveraging new technologies to produce formulations that are weather resistant, durable and easy to apply. Innovations in nanotechnology and the introduction of hybrid coalescing agents are expected to create new opportunities for the market. Therefore, increasing technological developments in coalescing agents along with increasing production ramp-ups are expected to boost the market growth.
Prominent players in the industry
- Eastman Chemical Company
- BASF SE
- Dow Inc.
- Arkema Group
- Evonik Industries AG
- Croda International Plc
- Solvay S.A.
- Elementis Plc
- Ashland Global Holdings Inc.
- Synthomer Plc
- Celanese Corporation
- Clariant AG
- Henkel AG & Co. KGaA
- Wacker Chemie AG
- Hexion Inc.
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Geographical landscape:
The North American coalescing agent market is growing significantly, owing to factors such as increasing demand in the construction, automotive and industrial sectors, and development of infrastructure and industrial companies in the region. In addition, the increasing adoption of eco-friendly and high-performance coatings in the automotive industry is accelerating the market expansion.
Furthermore, the coalescing agents market in Europe is witnessing remarkable growth due to increasing emphasis on green building practices and energy efficient solutions in the paints and coatings industry, especially in countries like Germany, France and the UK. In addition, the expanding construction, automotive and industrial sectors are driving the market growth in Europe.
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Segment outlook:
Coalescing Agents Market – Type Based Outlook:
Coalescing Agents Market – Application Based Outlook:
- Paints & varnishes
- Adhesives and sealants
- Inks
- Ingredients for personal care products
- Miscellaneous
Coalescing Agents Market – Regional Outlook:
- North America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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