North America Coalescing Agent Market Size, Scope 2022-2028
The North America coalescing agent market size was valued at USD x billion in 2021, growing at a CAGR of x% during the forecast period 2022-2028. Solvents called coalescing agents are used to improve the film forming process in polymer emulsions. These additives are used to lower the film formation temperature to a minimum, resulting in improved film qualities like abrasion resistance, scrub resistance, and film coherence. One of the primary factors driving the market's high CAGR is rising demand from end-user industries. Demand for these agents is growing, thanks to high-performance coatings as well as eco-friendly products, as well as stringent regulatory reforms by governments around the world. In addition, the expansion of the worldwide coalescing agent market is aided by urbanisation in emerging economies. Furthermore, while coalescing agents are environmentally favourable, their demand is regulated across different locations. During the projection period, however, increasing production expenses involved with coalescing agents are expected to stifle market growth.
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The rising adoption of the coalescing agent in various end-use industries such as construction and marine is a key factor driving market growth, as is rising rapid urbanisation in emerging economies, strict government guidelines and regulations prohibiting the use of conventional additives and solvents that are non-environmentally friendly and toxic in nature, rising demand for coalescing agent from paints and coatings and adhesives and sealants, and rising end-use industries such as construction and marine. Furthermore, rising demand for environmentally friendly coalescing agents, as well as increased industry research and development activities, will open up new potential for the coalescing agent market in the future. Furthermore, among other factors acting as barriers, higher compliance with demanding rules and standards would further challenge the growth of the coalescing agent market over the forecast period.
The North America coalescing agent market segmentation:
- By Type: Hydrophilic Coalescing Agent and Hydrophobic Coalescing Agent
- By Application: Personal Care Ingredient, Paints & Coatings, Inks, Adhesive & Sealants and Others
Due to rising rapid urbanisation in emerging economies, increasing adoption of the coalescing agent in various end-use industries like construction and marine, rising strict government guidelines and regulations prohibiting the use of conventional additives and solvents that are non-environmentally friendly and toxic in nature, rising demand for coalescing agent from paints and coatings and adhesives and sealants, and rising end-use industries such as construction and marine, Asia-Pacific dominates the coalescing agent market.
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Some of the major key players in the North America Coalescing Agent Market are Evonik Industries AG (Germany) Elementis Plc (UK) Eastman Chemical Company (US) DowDuPont (US) Croda International Plc (UK) Celanese Corporation (US) BASF SE (Germany) Arkema Group (France)
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