The Coalescing Agents Market is being driven by Increasing demand due to stringent environmental regulations promoting low-VOC coatings
The Coalescing Agents Market is expected to grow at a CAGR of 5.93% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 441.43 million. In the global coalescing agents market, there is a growing trend towards the adoption of bio-based coalescing agents due to increasing environmental concerns and sustainability objectives. These agents, derived from renewable resources such as plant-based feedstocks, offer a smaller carbon footprint and reduced dependence on fossil fuels. Leading industry players like Dow, Eastman, and BASF are actively investing in research and development to produce sustainable coalescing agents. For instance, Eastman's Saflex EcoGreen brand offers bio-based coalescing agents derived from natural feedstocks like pine trees. This shift towards sustainable coalescing agents is a strategic move to meet the evolving needs of the market and address the growing demand for eco-friendly solutions.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Paints and coatings, Adhesives and sealants, Inks, Others) Type (Hydrophilic, Hydrophobic) Geography (APAC, Europe, North America, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Coalescing Agents Market Research Report
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The Coalescing Agents Market encompasses the use of these agents in various applications such as coatings, adhesives, and sealants. These agents facilitate the coalescence of polymer particles in volatile organic compound (VOC)-based systems, including coatings for the construction and automotive sectors. Architectural and industrial coatings benefit from their ability to enhance film formation temperature, coherence, scrub resistance, and abrasion resistance. In water-based systems, flocculants and coalescing aids are employed as additives. Solvents and polymer emulsions are also included in this market, along with VOC standards, polymer bonds, and dispersions paints featuring polymeric binder particles.
The global coalescing agents market is a significant segment of the expansive specialty chemicals industry, as identified by Technavio. This market encompasses businesses specializing in high-value-add chemicals utilized in the production of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. The specialty chemicals market's growth is propelled by the increasing preference for specialized adhesives and sealants, with the construction sector being a major contributor to this trend. Additionally, the reduction in the usage of volatile organic compounds (VOCs) in coalescing agents is another key factor fueling the market's expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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