According to the research report titled ‘Global Reactive Diluents Market Size study with COVID-19 Impact, by Type (Aliphatic, Aromatic and Cycloaliphatic), by Application (Paints & Coatings, Composites, Adhesives & Sealants and Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global reactive diluents market was valued at USD 893.1 million in 2019 and is expected to register a CAGR of 6.6% during 2020-2027.
 

Surging use of composite materials and flourishing construction sector worldwide are the factors driving the expansion of reactive diluents market. Further, launch of new products and strategic plans by the leading companies are contributing to the market growth. For example, Evonik Industries introduced a low odor reactive diluent named VISIOMER(R) GLYFOMA on 4th October 2018 in Europe. The diluent can replace MMA and styrene either partially or completely and it is registered under Registration, Evaluation, Authorization and Restriction of Chemicals (REACH).
 

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For the unfamiliar, reactive diluents are low-viscosity and colorless liquids that are added in a substance to reduce its viscosity to enable easy handling and processing. They are mixed with polymers & composites, paints & coatings, and adhesives & sealants to reduce emission of volatile organic compounds. Reactive diluents are compatible with water based as well as solvent based paints and are used as substitutes for various plasticizers like diisononyl phthalate (DINP), di-2-ethylhexyl phthalate (DEHP), and di-isodecyl phthalate (DIDP).
 

However, growing prevalence of COVID-19 has caused a decline in manufacturing and supply of the product, negatively impacting the market growth. Also, rising popularity of alternative resins and strict regulations for production of epoxy resin are expected to hamper the expansion of global reactive diluents market in the ensuing years.
 

Based on type, global reactive diluents market is segmented into aromatic, aliphatic, and cycloaliphatic. Speaking of the application spectrum, the industry is divided into composites, paints & coatings, adhesives & sealants, and others.
 

Considering the regional landscape, Asia Pacific reactive diluents market garnered major revenues in the recent past and is expected to witness robust growth during 2020-2027, due to rising investments in construction and industrial sectors, alongside booming population in the region.
 

Leading players operating in global reactive diluents market include Hexion Inc., SACHEM Inc., Huntsman Corporation, Kukdo Chemical, ADEKA CORPORATION, Olin Corporation, Aditya Birla Chemicals Limited, Evonik Industries, Cargill Inc., and Ems-Griltech AG.