The global reactive diluents market is forecast to reach USD 1,270.8 Million by 2026, according to a new report by Reports and Data. The reactive diluents market is projected to witness considerable growth during the forecast period. Factors like the rise in demand for materials that are lightweight and have high mechanical strength, drastic urbanization in emerging economies, and expansion of end-user industries are contributing to the growth of the market. The rising demand for VEEA monomer, which is a hybrid monomer that is used as a reactive diluent in UV inkjet printing, has positively impacted the growth of the reactive diluents market. It has witnessed a significant demand in the U.S. and Europe market. The mentioned regions hold substantial opportunity for the market that is needed to be tapped for further market expansion.
In addition to the factors mentioned, expansion in the construction industry is also propelling the growth of the market. Herein, the rise in investments in public infrastructure projects has resulted in increasing the demand for reactive diluents. As an instance, The Saudi Arabian government has made extensive investments in Jeddah Economic City. Such a rise in investments in public infrastructure increases the scope of application of reactive diluents, which contributes to the growth of the market.
Key participants include Aditya Birla Chemicals, Hexion, Huntsman, Adeka Corporation, Kukdo Chemicals, Evonik Industries, EMS-Griltech, Cargill, Olin, Sachem, and Nippon Shokubai Co., Ltd.
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The materials and chemicals market revenue has expanded significantly over the years and is expected to register robust revenue growth over the forecast period. Technological advancements, rising investments in research and development activities, increasing demand for raw materials in various sectors such as manufacturing, agriculture, food and beverage, pharmaceutical and biotechnology is boosting market growth. In addition, changes in consumer preference, rising disposable income especially in the developing economics, rising funds by several public and private organizations, and increasing demand for biodegradable products are factors boosting market growth.
Further key findings from the report suggest
- The reactive diluents market held a market share of USD 869.2 Million in the year 2018. The market is expected to grow at a rate of 4.7% during the forecast period.
- In regards to Type, the Aliphatic segment generated the highest revenue of USD 408.5 Million in 2018 with the fastest growth rate of 5.3% during the forecast period. Its traits, like enhanced impact strength and ability to function as an effective diluent has resulted in the extensive application of this type of reactive diluents in the functioning of different end-user industries. Its extensive use in various end-user industries contributes to the revenue generated by this segment.
- In context to End-users, the market has been segmented into Construction, Automotive, Electrical & electronics, Wind-energy, and Others. Among these end-users, the Construction segment is calculated to yield the highest revenue of USD 15.2 Million in 2018 with a growth rate of 5.4% during the forecast period. Factors like increased investments in the construction sector for building public infrastructures increases the relevance and application of reactive diluents in this segment, which contributes to its generated revenue.
- While discussing End-users, the Automotive industry is worth mentioning here, that is projected to witness the fastest growth rate of 6.0% during the forecast period, which is expected to hold 31.4% of the market by 2026. The continuous expansion of the automotive industry results in increased demand for reactive diluents in this segment that contributes to its growth rate.
- In regards to Application, the Coatings & Paints segment is leading the market that holds the largest market share of 37.0% in 2018 with the fastest growth rate of 5.4% during the forecast period. The rise in infrastructural projects that are being commissioned in emerging countries along with expansion of automotive sector has resulted in increased demand for coatings & paints. The increased demand for coatings & paints has raised the application of reactive diluent in this segment, which contributes to its market share.
- In regards to region, North America holds the second-largest markets share of 23.0% in 2018 with a CAGR of 4.4% during the forecast period. Factors like the growth and development of the renovation and construction industry in this region contributes to the expansion of the market in North America.
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For the purpose of this report, Reports and Data have segmented the global reactive diluents market according to Type, End-user, Application, and Region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
End-user Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Electrical & electronics
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Coatings & Paints
- Adhesives & Sealants
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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