LONDON--(BUSINESS WIRE)--According to Technavio Research Report "Coalescing Agents Market by type (hydrophilic, and hydrophobic), application (paints and coatings, adhesives and sealants, inks; and others), and geographic regions (APAC, Europe, North America, MEA, and South America) is witnessed to grow USD 259.99 million, at a CAGR of 5% from 2019 to 2023.
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Global Coalescing Agents Market: Rising adoption of DIY
Increasing disposable income and the rise in consumer spending on home remodeling and improvement projects will boost the consumption of paints and coatings by residential end-users. Moreover, the demand for paints and coatings from do-it-yourself (DIY) consumers is high in western countries such as the US, Canada, and Germany. DIY activities are increasing with the rising focus of the younger population on cost saving. Therefore, the increasing adoption of DIY is expected to fuel the demand for paints and coatings, as premium paints are becoming easy to use and are versatile. This will drive the growth of the coalescing agents market during the forecast period.
“Apart from the rising adoption of DIY, other factors such as the growth of housing and construction sectors, rising demand for architectural coatings, and the increasing use of adhesives in medical applications will have a significant impact on the growth of the coalescing agents market size during the forecast period,” says a senior analyst at Technavio.
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Global Coalescing Agents Market: Segmentation analysis
This market research report segments the global coalescing agents market by type (hydrophilic, and hydrophobic), application (paints and coatings, adhesives and sealants, inks; and others), and geographic regions (APAC, Europe, North America, MEA, and South America)
The APAC region led the coalescing agents market in 2018, followed by Europe, North America, MEA, and South America respectively. The growth of the coalescing agents market in APAC can be attributed to several factors such as the growing demand from end-user industries such as paints and coatings, adhesives and sealants, and inks. There are several applications for coalescing agents in the construction, packaging, and transportation industries. The growth of infrastructural and construction activities in countries such as China, India, Japan, Indonesia, Thailand, and the Philippines is also expected to drive market growth during the forecast period.
Global Coalescing Agents Market: Rising demand from emerging economies
Rising demand for coalescing agents from emerging economies is mainly due to the growth of the construction, automotive, and personal care industries in emerging countries such as China, the Philippines, India, Indonesia, the Russian Federation, Thailand, and Brazil. Moreover, the number of manufacturing plants is increasing significantly in these countries owing to the wide availability of raw materials, inexpensive labor, and the presence of favorable government policies for FDI. Such factors are expected to increase the demand for coalescing agents from emerging economies, thereby, fueling market growth during the forecast period.
Few Major Vendors in the Coalescing Agents Market are:
- BASF SE
- Cargill Inc.
- DowDuPont Inc.
- Eastman Chemical Co.
- Evonik Industries AG
Browse Industries Reports @ Specialty Chemicals
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