The global coalescing agent market size was estimated around USD 1.3 Billion in 2018 and is expected to grow at a CAGR of 5.1% during the forecast period. Growing passenger car sales coupled with the use of heavy-duty trucks for transportation of various consumer goods to fulfil the rising demand is anticipated to drive the market for various paints and coatings over the forecast period. The growing demand for paints and coatings is expected to further boost the market for coalescing agent over the forecast period.
Rise in the infrastructure spending coupled with growing urbanization is expected to drive the paints and coatings market, which is further projected to boost the coalescing agent market in the coming years. Coalescing agent are used as temporary plasticizers for polymers and also reduce the minimum film forming temperature (MFFT) owing to which the market is expected to grow at a significant pace.
Additionally, growing demand for value-added coalescing agents in various industries such as paints, adhesives, inks, and personal ingredients industry is expected to drive the market growth during the forecast period. Fluctuating raw material prices and high cost of production of coalescing agent is estimated to restraint the market growth over the forecast period. However, growing sustainable practices and environmental concerns due to the use of conventional coalescing agents is estimated to drive the market in the coming years.
Growing environmental concerns and the increasing need to reduce toxic emissions across the world is driving the use of non-VOC coalescing agents in various industries. The market is experiencing a swing from petroleum-based products to bio-based products as they offer better performance and produce few emissions, which is expected to drive the coalescing agents market during the forecast period.
Key Segments of the Global Coalescing Agents Market Report
By Type Overview, 2018-2025 (USD Million) (Kilotons)
By End-user Overview, 2018-2025 (USD Million) (Kilotons)
- Paints & Coatings
- Adhesive & Sealants
- Personal Care Ingredients
Regional Overview, 2018-2025 (USD Million) (Kilotons)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- Rest of Middle East and Africa
- Central & South America
- Rest of Central & South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global coalescing agents market.
- We intend to present how coalescing agents has evolved and how it may impact execution of Industry
- The study aims to identify the disruptive technologies, their adoption trend, impact on traditional approaches and monitor the transition of the industry
What does the report include?
- The study on the global coalescing agents market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using Porter’s Five Forces and Value Chain Analysis
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of type and end users. Moreover, the study provides similar information for the key geographies
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global coalescing agents market. The report will benefit:
- Every stakeholder involved in developing and distributing coalescing agents solutions
- Product managers looking to publish recent and forecasted statistics pertaining to the global coalescing agents market
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative global coalescing agents solutions
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
Coalescing agents are added following the polymer dispersion binder, through the let-down stage of paint production process. The agent prevents the coagulation of the polymer binder which is highest if water insoluble coalescing agents are added. Low water-soluble hydrophilic coalescing agent are commonly used as they have higher efficiency, and low water solubility, which furthermore reduces the risk of penetration in porous substrates. There is a growing demand for coalescing agents which are colourless, deliver high quality, and has no effect on the VOC of paints and coatings, which is expected to boost the coalescing agents market over the forecast period.
There is a rise in the requirement for more environmentally friendly coalescing agents used for water-based paints and coatings and meet the strict regulations implemented on VOC (volatile organic compounds) in several countries all over the world. Cost effective coalescing agents offered by various companies which provide suitable MFFT reduction which fulfil the current industry-standards, work efficiently for all resin types and have no reduced performance of film regarding hardness or gloss, scrub resistance, and blocking/anti-tack are expected to fuel the coalescing agents market over the coming years.
The coalescing agents market by type is segmented into hydrophilic and hydrophobic coalescing agents. Coalescing agents play a very crucial role in enhancing film formation and ensures smooth and uniform surface finish. Hydrophilic coalescing agents are widely used for various applications and is the fastest growing application segment. Hydrophilic coalescing agents mainly include water-soluble glycol ethers and glycols such as DPB (dipropylene glycol butyl ether) and PB (propylene glycol butyl ether). These agents partially dissolve the polymer after water evaporation and also control water evaporation and freeze-thaw stability. Hydrophilic coalescing agents are highly efficient and have low rate of evaporation owing to which the demand for coalescing agents is expected to grow over the forecast period.
Rise in the demand of paints, coatings, inks, and adhesives in other industries such as the aerospace industry, and use of bio-based coatings paints is driving the demand of coalescing agents in developing as well as developed countries. Additionally, increasing industrialization and infrastructure development in developing countries are crucial factors which are continuously contributing to the growth of coalescing agents market all over the world.
Asia Pacific is the fastest growing region in the coalescing agents market, projected to reach USD 707 Million till 2025, growing at a CAGR of 5.4% over the forecast period. Asia pacific region is mainly driven by the developing nations such as India, and China. China is one of the biggest automotive aftermarket industries in the Asia Pacific region. In 2018, there were around 170 million vehicles on road in China, addition to which there is a growing service life of the vehicles. The growing automotive industry in the region is also driving its related markets such as paints, coatings, adhesives, sealants, and others. Due to this high demand for automotive and use of non-VOC coalescing agents, the market is expected to experience a significant growth over the forecast period.
Asia Pacific region also captures the maximum market share in the coalescing agents industry. Asia Pacific is also one of the fastest growing region due to the presence of major paint, coatings, inks, plastics, and rubber industries. Additionally, the coalescing agents market is expected to experience a boost in countries such as China and India owing to the growing automobile sector. Various coalescing agent manufacturers in the North American and Europe region are shifting their manufacturing base to low-cost countries in Asia Pacific such as Indonesia, Vietnam, and others owing to the lack of strict environmental regulations, compliance issues, low production cost, cheap labour, and availability of raw material in abundance.
Key players operating in the global Coalescing Agents market are Eastman Chemical Company, Dow Inc., DuPont de Nemours, Inc., BASF SE, Evonik Industries, Rudolf GmbH, Stepan Company, Arkema, Celanese Corporation, Cargill, Incorporated and others.