North America Coalescing Agent Market: By Type (Hydrophilic Coalescing Agent and Hydrophobic Coalescing Agent), By Application (Personal Care Ingredient, Paints & Coatings, Inks, Adhesive & Sealants, and Others), and Region Forecast 2020-2031  

North America Coalescing Agent Market size was valued at US$ x billion in 2023,  growing at a CAGR of x% from 2024-2030. Rapid urbanization in emerging economies, increasing demand from end-user industries, growing demand for high-performance coatings, and increasing demand for environmentally friendly coalescent agents are some key factors influencing market growth. Coalescing agents can be added during the letdown stage of coating resin formulation and are generally used in water-borne coatings. In high-end applications where the process has been taken out in a HPHT (high pressure and high temperature environment) environment, there is a need for high performance coatings that can withstand high temperatures for the long term. Hence, growth in end-use industries such as construction and automotive, as well as increasing disposable income, is majorly driving the demand for a coalescing agent market.

The cost of formulation of non-VOC content coalescing is relatively high, which dents the market growth in the future. Rising raw material prices for the formulation of coalescing agents act as an adoption barrier. Furthermore, a lack of attentiveness regarding the ill effects created by the coalescing agent may further restrain the market growth. North American coalescing Agent market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In June 2018, The Dow Chemical Company (US) announced a series of phased expansions of its North American glycol capacity through a series of seven debottlenecking and incremental expansion projects. The company will increase the production capacity of select p-series and performance glycol ethers, including the DOWANOL Glycol Ethers product line.