Coalescing Agent Market

Coalescing agent market is driven by rising construction and industrial activity, technological advancements, and competitive market dynamics.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 18, 2023 /EINPresswire.com/ -- The coalescing agent market is expected to grow at 4.7 % CAGR from 2023 to 2029. It is expected to reach above USD 2.01 billion by 2029 from USD 1.26 billion in 2022.

A coalescing agent is a substance that is widely used in the production of paints, coatings, and adhesives. It is also known as a film-forming aid or coalescent. Its primary function is to accelerate the flow and merging of scattered particles in a liquid mixture so that a smooth, continuous film forms as the solvent evaporates during drying.

Because the surface tension of the scattered particles is reduced, they can join together and form a cohesive film, which is the primary function of a coalescing agent. This technique improves the overall performance, appearance, and durability of the finished product. Coalescing agents are typically organic chemicals with low volatility that evaporate slowly, extending the drying period and allowing for adequate film formation.

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Recent Developments

• May 25, 2023 : AkzoNobel launched bisphenol-free internal coating for beverage can ends. Can makers and coil coaters ramping up their bisphenol-free transition have a ready alternative in a new BPA-NI (Bisphenol A non-intent)* internal coating for beverage can ends, from AkzoNobel Packaging Coatings.

• May 2, 2023 : DuPont (NYSE: DD) announced that it has entered into a definitive agreement to acquire Spectrum Plastics Group (“Spectrum”) from AEA Investors. The purchase price will be paid from existing cash balances. The transaction is expected to close by the end of the third quarter of 2023, subject to regulatory approvals and other customary closing conditions.

The market for coalescing agents is 42% in the Asia Pacific region is expanding significantly due to a number of factors.

There is an increase in demand for coatings and adhesives, two primary uses for coalescing agents, as a result of factors including increased urbanization and infrastructure development. The demand for eco-friendly coatings with fewer volatile organic compound (VOC) emissions is also being driven by rising environmental awareness and legislation, necessitating the use of coalescing agents to ensure compliance with these standards. The market is however also constrained by factors including varying raw material costs, which can affect production costs, and the accessibility of substitutes, which can partially or entirely replace coalescing agents in some applications. Nevertheless, the Asia Pacific market offers a number of prospects due to the rising demand for waterborne coatings and the development of new industrial sectors.

key factors that may impact the coalescing agent market:

• Paints and Coatings Industry: The majority of coalescing agents are used in the paints and coatings industry to enhance the film formation of latex-based paints. As the construction and automotive industries grow, so does the demand for coatings, influencing the coalescing agent market.

• Environmental Regulations: Stringent environmental regulations, particularly those related to volatile organic compounds (VOCs), can impact the choice of coalescing agents. There is a trend toward the use of low-VOC and environmentally friendly formulations, which can drive the demand for certain types of coalescing agents.

• Technological Advancements: Ongoing research and development efforts may lead to the introduction of new and more effective coalescing agents, improving performance and expanding their applications.

• End-User Industries: Apart from paints and coatings, coalescing agents find applications in adhesives, sealants, and other polymer-based products. The growth of these end-user industries can influence the demand for coalescing agents.

• Global Economic Trends: Economic factors, such as GDP growth, construction activities, and industrial production, can impact the overall demand for coatings and, consequently, coalescing agents.

• Competitive Landscape: The market may be influenced by the presence of key players, mergers and acquisitions, and strategic collaborations within the coalescing agent industry.

Coalescing Agent Market Technological Trends

• Nano-formulations: Advancements in nanotechnology for improved dispersion and performance.

• Green Chemistry: Development of environmentally friendly and sustainable coalescing agents.

• Smart Coatings: Integration of responsive materials for enhanced functionality and performance.

• Bio-based Agents: Increasing use of renewable and bio-based sources for coalescing agents.

• Microencapsulation: Innovative encapsulation technologies for controlled release and prolonged efficacy.

Coalescing Agent Market Players

• Akzo Nobel N.V.
• Cargill Incorporated
• Evonik Industries AG
• Celanese Corporation
• Eastman Chemical Company
• Croda International Plc
• BASF SE
• Arkema
• synthomer plc
• DowDuPont
• Solvay
• Elementis plc
• Hallstar
• PATCHAM(FZC)

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Key Market Segments: Coalescing Agent Market

Coalescing Agent Market By Type, 2023-2029, (USD Billion, Kilotons)

• Hydrophobic
• Hydrophilic

Coalescing Agent Market By Application, 2023-2029, (USD Billion, Kilotons)

• Paints & Coatings
• Adhesive & Sealants
• Inks
• Personal Care Ingredients

Market Dynamics

1. Drivers:

a. Growing Industrialization: The increasing industrialization in various regions often leads to a higher demand for coalescing agents, especially in sectors such as paints and coatings, adhesives, and polymer production.

b. Rising Environmental Awareness: As environmental regulations become more stringent, there is a growing demand for eco-friendly and low-VOC (volatile organic compound) products. Coalescing agents that contribute to reduced VOC emissions in formulations may experience increased demand.

c. Advancements in Technology: Innovations and advancements in coalescing agent technology can drive market growth. New formulations that offer improved performance, durability, and efficiency may attract manufacturers and end-users.

2. Restraints:

a. Regulatory Constraints: Stringent regulations regarding the use of certain chemicals or substances in various applications may pose challenges for coalescing agent manufacturers. Compliance with regulatory standards can increase production costs.

b. Fluctuating Raw Material Prices: The prices of raw materials used in coalescing agents, such as solvents, can be volatile. Fluctuations in raw material prices can impact the overall production cost and profitability of coalescing agents.

3. Opportunities:

a. Emerging Markets: The expansion of industries in emerging markets presents opportunities for coalescing agent manufacturers to tap into new customer bases and establish a stronger presence.

b. Development of Bio-based Coalescing Agents: With the increasing focus on sustainability, there is a potential market for bio-based coalescing agents. Research and development in this area can open up new opportunities for manufacturers.

c. Customization of Products: Offering customized coalescing agents to meet specific industry needs can be a strategic opportunity. Tailoring products for niche applications or industries can attract a specialized customer base.

4. Challenges:

a. Competition: The coalescing agent market may face intense competition, especially with the presence of multiple players. Companies need to differentiate their products through quality, innovation, or cost-effectiveness.

b. Economic Downturns: Economic fluctuations and downturns can impact industries that heavily rely on coalescing agents. Reduced industrial activities during economic downturns may lead to a decline in demand.

c. Technological Obsolescence: Rapid advancements in technology can render existing coalescing agents obsolete. Continuous research and development are essential to stay competitive in the market.

Key Questions Answered: –

• What is the expected growth rate of the coalescing agent market over the next 7 years?
• Who are the major players in the coalescing agent market and what is their market share?
• What are the end-user industries driving demand for market and what is their outlook?
• What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
• How is the economic environment affecting the coalescing agent market, including factors such as interest rates, inflation, and exchange rates?
• What is the expected impact of government policies and regulations on the coalescing agent market?
• What is the current and forecasted size and growth rate of the global coalescing agent market?
• What are the key drivers of growth in the coalescing agent market?
• Who are the major players in the market and what is their market share?

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