The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Reactive Diluents Market.
It was estimated prior to this unanticipated outbreak that the Reactive Diluents Market was expected to grow at a CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
The substance that reduces viscosity of a lacquer for processing is called reactive diluent. Reactive diluents become part of the lacquer during the subsequent curing through the process of copolymerization.
The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the application type, the market is segmented as paints & coatings, adhesives & sealants, construction & infrastructure, composites, and others. The composite segment is projected to expand with the highest CAGR over the forecast period owing to its excellent strength-to-weight ratio, flexibility, and high tensile strength.
Based on the product type, the market is segmented as aliphatic, aromatic, and cycloaliphatic. The aliphatic segment accounted for the largest share in 2019, and is expected to maintain its dominance during the forecast period. This growth of the segment is owing to the relatively easy production process and low raw material cost.
In terms of regions, Asia-Pacific is projected to be the largest market. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the growing population, rapid growth of building & construction and automotive industries, and better growth opportunities in composite applications. China and India are the growth engines of the region.
Some of the major players in the reactive diluents market are-
Aditya Birla Chemicals