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Coalescing Agent Market Trends

Report ID: GMI8077
Published Date: Feb 2024
Report Format: PDF

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Coalescing Agent Market Trends

A prominent trend is the increasing demand for sustainable and environmentally friendly formulations, driven by stringent regulations governing volatile organic compounds (VOCs). This has led to a surge in the development and adoption of low-VOC and eco-friendly coalescing agents, reflecting the industry's commitment to reducing environmental impact. Additionally, there is a notable emphasis on enhancing the performance attributes of coatings, adhesives, and sealants, with coalescing agents playing a pivotal role in achieving superior film formation and durability.

Technological advancements in coalescing agent formulations are another key trend, with a focus on creating multifunctional agents that address various performance requirements. Industry players are investing significantly in research and development to introduce innovative coalescing agents capable of meeting diverse application needs across different end-user sectors. Furthermore, the market is witnessing a growing interest in bio-based coalescing agents derived from renewable sources, aligning with the global push towards sustainable and bio-friendly solutions.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Coalescing agent industry was worth around USD 1 billion in 2023 and is set to expand at over 4.4% CAGR between 2024 and 2032 driven by the growing use in formulation of coatings, adhesives, and sealants.

Hydrophobic coalescing agents market generated USD 0.8 billion in 2023 and is estimated to record considerable growth through 2032 owing to its extensive use in formulations where water sensitivity is a critical concern.

Asia Pacific industry for coalescing agent generated USD 0.5 billion in 2023 and is set to exhibit robust growth through 2032 owing to the rising demand for coats and adhesives from the flourishing automotive and manufacturing sectors in countries like China, India, Japan, and South Korea.

The leading companies operating in the coalescing agent are ACS Technical Products, Arkema, BASF SE, Cargill Inc., Dow, Eastman Chemical Company, eChem Ltd., Elementis Plc., Evonik Industries, Solvay S.A., Stepan Company, Syensqo, Synthomer Plc, and xF Technologies.