The global reactive diluents market size is expected to grow from USD 952 million in 2020 to USD 1,309 million by 2025, at a CAGR of 6.6% during the forecast period. The major factors driving the reactive diluents market are the growth of the global construction sector and the increasing use of composite materials in various industries, such as automotive, aerospace, construction, and electronics. However, the outbreak of the novel coronavirus (COVID-19) pandemic has affected almost all manufacturing activities around the globe. This COVID-19 is the biggest challenge for the reactive diluents market in 2020.
The reactive diluents market includes major players, such as Hexion (US), Huntsman Corporation (US), Kukdo Chemical (South Korea), Aditya Birla Chemicals (India), Evonik Industries (Germany), Adeka Corporation (Japan), Cargill (US), EMS-Griltech (Switzerland), Olin Corporation (US), Sachem (US), Arkema (France), Bluestar Wuxi Petrochemical (China), Atul Chemicals (India), Cardolite (US), DIC Corporation (Japan), Hubei Phoenix Chemical Company (China), Ipox Chemicals (Hungary), Sakamoto Yakuhin Kogyo (Japan), Geo Specialty Chemicals (US), BASF SE (Germany), Nippon Shokubai Co. Ltd (Japan), Air Products and Chemicals (US), Royce (US), King Industries (US), and Leuna-Harze (Germany).
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These players have adopted various growth strategies to expand their presence in the market. New product launch, investment & expansion, and partnership have been the leading strategies adopted by them in the last five years, to strengthen their competitiveness and broaden their customer base in the global market.
Hexion (US) is one of the top players in the reactive diluents market. The company is focusing on the new product launch strategy to maintain its leading position in the reactive diluents market. For example, the company launched a two-component epoxy manufacturing solution in March 2019. This new epoxy manufacturing solution will remove production constraints for aerospace composites and maintain a high-performance level in finished parts.
Evonik Industries (Germany) is also progressing in the market by adopting the new product launch strategy. In April 2017, the company extended its portfolio of silane-modified polymers for construction and adhesive industries. The company launched silane-modified reactive diluents: Tegopac RD-1, Tegopac RD-2. These new products are used in polymers during curing; therefore, migration-free adhesive and sealant formulations can be produced.
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