According to ChemAnalyst report, “Reactive Diluents Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Reactive Diluents market witnessed a strong demand of 0.78 million tons in 2020 and is forecast to reach 1.490 million tons by 2030, growing at a healthy CAGR of 6.75% until 2030 owing to its utilization as additives in various end use industries.
Reactive diluents are glycidyl ethers of short-chain aliphatic alcohols. These are low molecular weight and low viscosity compounds, also known as thinners. Reactive diluents are prominently added to reduce the viscosity of the base resins/material/lacquer to ease the handling of the material and its processing in various applications. Reactive diluents also use to optimize performance properties such as thermal stability, adhesion, impact and tensile strength, filler loading, volatility reduction, flexibility and solvent resistance. Moreover, adding reactive diluents to different systems also reduces the emission of volatile organic compounds (VOC) significantly.
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Reactive Diluents are mainly classified into three groups - Aliphatic, Aromatic and Cycloaliphatic. Owing to their previously discussed properties, Reactive Diluents are used in various sectors including paints and coatings, composites, adhesives and sealants. They are utilized in stabilization against degeneration reactions, in solvent free paint and coating compounds preparations or as an adhesive along with other polymers to enhance adhesion. The surging demand from growing end use sectors such as construction and composite materials is expected to drive the demand for reactive diluents during the forecast period. Moreover, its use as substitutes for various plasticizers is also going to boost its market growth.
In the first half of 2020, Coronavirus outbreak had serious repercussions on the global Reactive Diluents market. Construction sector was majorly hit due to the lockdown restrictions across various economies implied to prevent the spread of virus lead to the decline in demand of Reactive Diluents amid crises. However, Reactive Diluent market recovered after the resumption of industrial activities and ease in lockdown restrictions by the end of 2020.
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Asia Pacific region dominates the global Reactive Diluents market and is anticipated to witness a healthy growth with majority of the consumption share coming from Asia Pacific (APAC). Moreover, continuously growing end use industries such as Construction and Automotive are also going to propel the demand for reactive diluents. In addition, massive consumer base and consequent rise in per capita income in emerging economies like China, India and Japan are another factor aiding the demand rise in the Asia-pacific region.
According to ChemAnalyst report, “Reactive Diluents Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Reactive Diluents globally include Hexion, Huntsman Corporation, Kukdo Chemical, Aditya Birla Chemicals, Evonik Industries, Adeka Corporation, Cargill, EMS-Griltech, Olin Corporation, Sachem, Arkema, Bluestar Wuxi Petrochemical, Atul Chemicals, Cardolite, DIC Corporation, Hubei Phoenix Chemical Company, Ipox Chemicals, Sakamoto Yakuhin Kogyo, Geo Specialty Chemicals, BASF SE, Nippon Shokubai Co. Ltd, Air Products and Chemicals, Royce, King Industries.
“Apart from Paints & Coatings, Reactive Diluents find extensive use in Epoxy Resin, Polyurethane and Acrylic industries as well as other Polymer industries coupled with the utilization in formulation of Composite materials (Electric Casting, electronic encapsulants, fibers, etc.) which consequently drive its market in the forthcoming period. Rapidly growing construction and automobile sectors in Asia Pacific are the key end use industries for Reactive Diluents and anticipated to expand its market in the forecast period. Hence, it is extremely important for the manufacturers to keep an eye on the potential opportunities to grab in the upcoming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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