Market Overview:
Reactive diluents are clear,
colorless, low-viscosity liquids, commonly known as thinners. Reactive diluents
are glycidyl ethers of short-chain aliphatic alcohols or alkylphenols. They are
added to reduce the viscosity of the substance to increase handling and ease of
processing. They enhance various performance properties such as adhesion,
impact & tensile strength, thermal stability, filler-loading, flexibility,
reduce volatility, and solvent resistance of the system. The use of reactive
diluents significantly reduces the emission of volatile organic compounds
(VOC). These diluents are compatible with both solvent-based and water-based
paints and coatings. They act as substitutes for a number of plasticizers such
as diisononyl phthalate (DINP), di-isodecyl phthalate (DIDP), and
di-2-Ethylhexyl phthalate (DEHP)
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Reactive diluents are majorly
used to reduce the viscosity of the epoxy resin. The epoxy resin is the
principal raw material required for the manufacturing of paints & coatings,
adhesives & sealants, and composites, which is projected to increase the
demand from end-use industries such as automotive, construction & building,
electrical & electronic, wind energy, aerospace, and others. Paints &
coatings are extensively utilized in the construction & building and the
automotive industry to improve the aesthetic appeal and provide protection from
external environmental factors. This is expected to boost the demand for epoxy
resin as well as consumption of reactive diluents over the forecast period. The
market is likely to witness significant growth in the demand for adhesives
& sealants across various end-user industries such as electrical &
electronics, automotive, wind energy and construction specifically in
developing economies such as China and India.
Composites account for the major
share of the epoxy resin demand, and it is widely preferred choice over
conventional plastics due to its durability, aesthetic appeal, and low
maintenance. Various industries such as automotive, construction &
building, wind energy, electrical & electronics are experiencing high
demand for composites, which is expected to fuel the growth of the global
reactive diluent market over the forecast period 2018-2023.
However, increasing popularity of
phenolic resins over epoxy resin due to low cost is expected to hamper the
growth of the reactive diluents market to some extent during the forecast
period.
Competitive
Analysis
·
BASF SE
·
Evonik
Industries AG
·
Bodo Möller
Chemie GmbH
·
Ipox Chemicals
GmbH
·
Huntsman
Corporations
·
UL LLC
·
Cargill,
Incorporated
·
Air Products
and Chemicals, Inc.
·
Hexion.
·
SACHEM Inc.
·
Aditya Birla
Chemicals
·
Arkema SA
·
Nippon
Shokubai Co., LTD
·
ADEKA
CORPORATION
·
EMS-CHEMIE
HOLDING AG
Market
Segmentation
The global Reactive
Diluents Industry
is segmented into type,
application, end-use industry, and region.
On the basis
of the type, the global reactive diluents market is segmented into aliphatic,
aromatic, and cycloaliphatic. The aliphatic type is projected to be the largest
and the fastest-growing segment in the global market during the forecast period
due to its low cost and easy manufacturing process.
On the basis
of the application, the global reactive diluents market is segmented into
paints & coatings, composites, adhesives & sealants, and others. The
paints & coatings are expected to hold the major market share due to their
wide end-use applications in industries such as building & construction and
automotive industry.
On the basis
of the end-user industry, the global reactive diluents market is segmented into
automotive, construction, electrical & electronics, wind energy, and
others. The construction industry accounted for the largest share of the
overall market and is expected to continue dominating the market due to rapid
industrialization in emerging countries, and increasing renovation activities
in countries such as the U.S. and the U.K.
Regional
Analysis
The global
reactive diluents market is spanned across five regions namely Asia Pacific,
North America, Europe, Latin America, and the Middle East and Africa. Asia
Pacific is expected to be the largest market for reactive diluents, followed by
North America and Europe. Asia Pacific market is driven by the growing
construction, automotive, and electrical & electronics industry. North
America, the Middle East & Africa, and Latin America markets are driven by
the building & construction industry. The growth of the European market is
driven by the presence of strong automotive & wind energy industry.
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