Reactive Diluents Market: Introduction
Reactive diluents are chemicals consisting low viscosity glycidyl ethers of short chain aliphatic alcohols or alkyphenols. These are used to reduce the viscosity of epoxy resins, and in epoxy phenol novolac resins to improve handling and ease of processing in various applications. Reactive diluents also enhance properties such as tensile strength, thermal stability, adhesion, and filter loading. Epoxy resins are majorly used for manufacturing paints & coating, adhesives & sealants, and composites. Reactive diluents are suitable for waterborne and solvent-based paints and coatings. These diluents decrease the release of volatile organic compounds (VOCs). End-use industries of reactive diluents include automotive, wind energy, and electrical & electronics. Demand for epoxy resin is anticipated to increase due to the increase in end-use application industries during the forecast period. This, in turn, is likely to propel the demand for reactive diluents globally. However, rise in use of low cost substitute such as phenolic resins and stringent regulatory norms regarding the use of epoxy resins are expected to restrain the reactive diluents market.
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Reactive Diluents Market: Segmentation
The global reactive diluents market can be segmented based on type, application, and region. In terms of type, the reactive diluents market can be divided into aliphatic, aromatic, and cycloaphatic. Aliphatic reactive resins production has comparatively low raw material cost and easy operations. Additionally, it is widely employed in end-use industries and hence, aliphatic is anticipated to be a highly attractive segment of the reactive diluents market during the forecast period. Based on application, the global reactive diluents market can be segregated into adhesives, paints & coatings, composites, and others, which includes casting, potting and encapsulation of electronics components, and tooling. Rapid urbanization and rising population is expected to boost the demand for paints & coating in forecast period. Hence, the paints & coating segment is projected to dominate the reactive diluents market during the forecast period.
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Reactive Diluents Market: Region wise Outlook
In terms of region, the global reactive diluents market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The reactive diluents market in Asia Pacific is anticipated to expand at a considerable pace due to increase in population, rapid urbanization, and rise in standard of living. Additionally, growth in the automobile industry in China and electronics industry in countries such as Taiwan, South Korea, and Japan is estimated to boost the demand for reactive diluent in the region. Increase in construction and renovation activities in North America is expected to drive the demand for reactive diluents during the forecast period. Europe is mature region for the reactive diluents smarket led by the presence of a well-established automotive industry and expansion in the microelectronic industry. Demand for reactive diluents is expected to increase in Latin America due to the growth in the construction industry and rise in economy of Brazil and Mexico. Rise in building & construction activities to increase tourism is anticipated to drive the demand for reactive diluents in Middle East & Africa during the forecast period.
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Reactive Diluents Market: Competitive Landscape
Major players in the global reactive diluents market include Hexion (the U.S.), Huntsman (the U.S.), Aditya Birla Chemicals (India), Kukdo Chemicals (South Korea), Evonik Industries (Germany), Adeka Corporation (Japan), EMS-Griltech, Olin Corporation (the U.S.), Sachem (the U.S.), UL LLC (the U.S.), Arkema SA (France), Nippon Shokubai Co., LTD (Japan), ADEKA CORPORATION (Japan), and EMS-CHEMIE HOLDING AG (Switzerland), Bodo Moeller Chemie GmbH (Germany), and Ipox Chemicals GmbH (Germany).
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