The coalescing agents market size is expected to grow from USD 1.0 billion in 2018 to USD 1.3 billion by 2023, at a CAGR of 4.9%. The global coalescing agents market is expected to be driven by various factors such as increasing demand from emerging economies and growing demand for environmentally-friendly coalescing agents. Apart from this, expansion in end-use industries such as automotive and construction is likely to increase the demand in applications such as high-quality paints & coatings and adhesive & sealants.
The coalescing agents market has been studied for Europe, North America, APAC, the Middle East & Africa, and South America. The APAC coalescing agents market is projected to register the highest CAGR during the forecast period. In APAC, countries such as China and India are the largest consumers of coalescing agent due to their increasing manufacturing output and rapid urbanization. India is projected to be the fastest-growing coalescing agent market. This high growth is attributed to the availability of low-cost labor and implementation of government initiatives such as Make in India. The implementation of various government initiatives may create opportunities for growth of the industrial and infrastructure construction sectors. All these factors are expected to drive the coalescing agent market in the region.
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The key players operating in the coalescing agents market are the Elementis Plc (UK), Eastman Chemical Company (US), Synthomer Plc (UK), DowDuPont (US), BASF SE (Germany), Croda International Plc (UK), Evonik Industries AG (Germany), Arkema Group (France), Celanese Corporation (US), and others.These companies are adopting different strategies such as acquisitions and expansions to consolidate their positions in the market.
DowDuPont (US) was one of the largest players in the coalescing agent market in 2017. The company serves various high-growth end-markets, offering both hydrophilic and hydrophobic products. In 2018, the company announced a series of phased expansion of its glycol capacity through a series of seven debottlenecking and incremental expansion projects. The company will increase the production capacity of select p-series and performance glycol ethers, including the DOWANOL Glycol Ethers product line. This will help the company to strengthen its position in the market.
Evonik Industries AG (Germany) is also one of the leading players in the coalescing agents market 2017. The company offers organic coalescing agents to meet requirements from demanding applications such as inks, architectural coatings, metalworking fluid, and others. In 2017, the company signed an agreement to acquire the high-concentrates additive compounding business of 3M (US). This expanded the company’s specialty additives for the plastic industry, including solid additives.
Synthomer Plc (UK) is a specialty chemical company. It offers coalescing agents for applications such as latex paint formulations, intermediate for plasticizer, solvent carrier, and carrier for compounds & cleaning solvent. In 2017, the company acquired Perstorp Oxo Belgium AB (Belgium), a niche performance additives business serving the industrial and decorative coatings industries. The company will focus on expanding Perstorp Belgium’s market position by leveraging its existing sales, technical services infrastructure, and operational performance. This will further help the company to strengthen its position in the market.
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