The demand for reactive diluents was sluggish in 2020, but according to a report from Future Market Insights, industry stakeholders are optimistic regarding its quick recovery. In the first half of 2020, demand for reactive diluents dropped by 40% compared to the same period in the prior year. However, since reactive diluents are used to improve the consistency of adhesives, sealants, and coatings in myriad applications, they are in high demand across a multitude of sectors (e.g., building and construction, automotive, and electronics, among others). The study authors see this as chief driver of the reactive diluents market, which is expected to grow at a positive pace from 2020-2030.
Using reactive diluents results in better performance of various products by improving thermal stability, tensile strength, adhesion, and other physical attributes. Due to their robust compatibility with water- and solvent-based products, the demand for reactive diluents will grow through the course of the forecast period.
A key point to consider is that using reactive diluents can significantly reduce emissions of volatile organic compounds (VOCs). This has boosted applications in line with technological advancements witnessed across diverse industries. Prospects for the market are expected to get more lucrative as industries adopt composites as a replacement for materials traditionally used in automotive and construction applications.
Construction activities are expected to soar higher in tandem with population growth witnessed around the world. In turn, this will bolster growth prospects for the reactive diluents market. On the downside, the unprecedented COVID-19 outbreak might result in sluggish near-future opportunities for the market.
Nonetheless, backed by relevant research and development investment by chemical giants, the market could soon recover once the crisis passes. Despite this, the foray of competent alternatives could hamper growth prospects of the market.
Regionally, East Asia and South Asia-Pacific are expected to demonstrate lucrative growth opportunities for the market. Rising building and construction activities, in addition to the expansion of the automotive and electronics industries, will support growth in countries such as India, China, Japan, and South Korea. Some of the leading companies operating in the market are located across East Asia and South Asia-Pacific, making the regions highly attractive markets for reactive diluents.
Government support for construction activities and infrastructural development will aid the overall market expansion. For example, smart city projects undertaken by various governments will give a big push to the construction sector, subsequently fueling demand for reactive diluents.
Additional details are available at www.futuremarketinsights.com.