The global
coalescing agents market is expected to witness a CAGR of
about 5% during the forecast period. Certain factors that are driving the
market include augmenting demand for waterborne coatings, increasing demand for
architectural coatings, and rising demand from emerging economies.
Waterborne paints and coatings becoming eco-friendly due to the
technological advances in recent years. They are available as water-soluble
paints, water-dispersible paints, emulsions or latex paints, and water-based
alkyds. The coalescing agents are used to produce low VOC water-based coatings
and adhesives. The benefits of using waterborne coatings such as they are less
toxic, offer good resistance from heat and abrasion, offer good adhesion, do
not require additional additives, and known to have a long pot life. These
technological advances and benefits are augmenting the demand for waterborne
coatings, which is expected to drive the growth of the coalescing agents market during the forecast period.
Coalescing agents provide good block and water resistance properties to
adhesives and sealants. The growing demand for adhesive and sealants is due to
the growing use of medical seal wounds, patches, medical tapes, dressing skins,
and other fabrications. In medical applications, adhesives often outperform
traditional fasteners due to their better resistance to the sterilization
process. Rising investments by countries such as China, the US, Germany, and
India in healthcare are expected to augment the demand for medical adhesives.
Hence, the growing demand for adhesives in medical applications is expected to
drive the growth of the coalescing agents market.
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