According to the report by Expert Market Research (EMR), the global coalescing agents market size is projected to grow at a CAGR of 4.7% between 2024 and 2032. Aided by its extensive application in the paint and coating industry and the growing demand for environmentally friendly coalescing agents, the market is expected to grow significantly by 2032.
Coalescing agents are critical in the formulation of paints and coatings, acting as a facilitator in the film formation process of polymers. These agents aid in reducing the minimum film formation temperature, ensuring a smooth and uniform film of paint or coating. Their role is crucial in enhancing the durability, appearance, and performance of the final product.
The primary driver of the coalescing agents market growth is the burgeoning paint and coatings industry. As global construction activities rise, especially in developing regions, there is an increased demand for high-quality paints and coatings, thereby propelling the need for coalescing agents.
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Moreover, there is a growing emphasis on environmentally friendly and low-VOC (Volatile Organic Compounds) coalescing agents in the market. This shift is driven by stringent environmental regulations and a heightened awareness of the impact of VOCs on air quality and human health. As per the coalescing agents market analysis, manufacturers are innovating and introducing green coalescing agents that meet regulatory standards and consumer preferences for sustainable products.
Technological advancements are a crucial trend that aids in the formulation of coalescing agents and enhances their efficiency and environmental compatibility. Innovations in bio-based and waterborne coalescing agents are particularly notable, aligning with the sustainability trend.
Geographically, Asia-Pacific holds a significant share of the coalescing agents market size, owing to the rapid growth in construction activities and industrial development in the region. North America and Europe also maintain substantial market shares, bolstered by advanced manufacturing sectors and stringent environmental regulations driving the demand for eco-friendly coalescing agents.
The future outlook for the coalescing agents market is promising, with continued growth anticipated in line with the expansion of the global paints and coatings industry. The increasing focus on sustainability and technological advancements in product formulations are expected to offer new opportunities and drive market growth in the coming years.
Coalescing Agents Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Hydrophilic Coalescing Agent
- Hydrophobic Coalescing Agent
Market Breakup by Application
- Paints and Coatings
- Adhesive and Sealants
- Inks
- Personal Care Ingredient
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Coalescing Agents Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global coalescing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Evonik Industries AG
- Elementis Plc
- Synthomer Plc
- Celanese Corporation
- Croda International Plc
- Cargill, Incorporated
- Arkema Group
- Others
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