Coalescing Agents Market Research Report Information by Type (Hydrophilic, Hydrophobic), Application (Paints & Coatings, Adhesive & Sealants, Personal Care Ingredients), Region (North America, Asia Pacific, Latin America, Middle East & Africa) — Forecast till 2032

Coalescing Agents Market Summary

As per Market Research Future Analysis, the Coalescing Agents Market was valued at USD 1.21 Billion in 2023 and is projected to grow to USD 1.87 Billion by 2032, with a CAGR of 4.98% from 2024 to 2032. Coalescing agents are solvents that optimize film formation in polymer emulsions, enhancing properties like mechanical strength and appearance. The market is segmented into hydrophilic and hydrophobic types, with hydrophilic agents expected to grow faster due to increasing demand for environmentally friendly options. The Asia-Pacific region is anticipated to witness significant growth driven by industrial applications in automotive, construction, and aerospace sectors, while North America and the Middle East & Africa are also expected to contribute to market expansion due to rising paint and coating consumption.

Key Market Trends & Highlights

The Coalescing Agents Market is experiencing robust growth driven by various industry demands.

• Market Size in 2023: USD 1.21 Billion; projected to reach USD 1.87 Billion by 2032.
• CAGR during 2024-2032: 4.98%; indicating steady growth.
• Asia-Pacific expected to grow significantly due to industrial growth in automotive and construction.
• Hydrophilic coalescing agents projected to observe higher CAGR due to environmental regulations.

Market Size & Forecast

2023 Market Size: USD 1.21 Billion

2024 Market Size: USD 1.27 Billion

2032 Market Size: USD 1.87 Billion

CAGR (2024-2032): 4.98%

Major Players

Elementis plc (UK), Eastman Chemical Company (US), Synthomer plc (UK), DowDuPont (US), BASF SE (Germany), Croda International Plc (UK), Evonik Industries AG (Germany), Arkema (France), Celanese Corporation (US), Cargill, Incorporated (US), Stepan Company (US), OXEA GmbH (Germany), Runtai Chemical Co., Ltd. (China), Chemoxy International Ltd (UK), Rudolf GmbH (Indonesia)

Coalescing Agents Market overview

Coalescing Agents Market Size was valued at USD 1.21 Billion in 2023. The Coalescing Agents industry is projected to grow from USD 1.27 Billion in 2024 to USD 1.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.98% during the forecast period (2024 - 2032). And coalescing agents are basically solvents that help optimize the film formation process of polymer emulsion. Coalescing agents are used as an additive to bring down the minimum film formation temperature, develop optimized film coherence, and improve film properties such as resistance, mechanical properties, abrasion resistance, and appearance. The global market of coalescing agents has been divided based on type as hydrophilic and hydrophobic, and the hydrophilic section of the market is projected to observe a higher CAGR during the forecast period, whereas hydrophilic coalescing agents are classified into water-soluble and low water-soluble. The low water-soluble is one of the most frequently used coalescing agents owing to their high regulation, low water solubility, and brought to the risk of pervasive in the porous substrate. However, increasing the ultimatum for an environment-friendly coalescing agent also supports the extension of the hydrophilic section.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coalescing Agents Market Regional Analysis

Asia-Pacific is expected to grow at a significant CAGR owing to economic development in the region, which is increasing the application of coalescing agents in end-use industries such as automotive, construction, and aerospace. China, India, South Korea, Australia, Malaysia, Indonesia, and Thailand are witnessing phenomenal industrial growth, which is expected to increase the application of coalescing agents in industrial coatings. Industrial coatings are used for corrosion control in concrete and steel, majorly used in equipment and machinery which is expected to drive the growth of the Asia-Pacific market during the forecast period.

The increase in consumption of paints and coatings in North America, supported by strong growth in the automotive and aerospace industries is expected to fuel the demand for coalescing agents. The Middle East & Africa is expected to witness healthy growth owing to robust construction activities in the region, is propelling the demand for paint & coatings to be used for decorating and protecting infrastructure and building.

Key Players

List of the prominent companies in the global coalescing agents market are

Elementis plc (UK), Eastman Chemical Company (US), synthomer plc (UK), DowDuPont (US), BASF SE (Germany), Croda International Plc (UK), Evonik Industries AG (Germany), Arkema (France), Celanese Corporation (US), Cargill, Incorporated (US), Stepan Company (US), OXEA GmbH (Germany), Runtai Chemical Co., Ltd.(China), Chemoxy International Ltd (UK), and Rudolf GmbH (Indonesia).

Global Coalescing Agents Market Share, by Application, 2017 (%)

Source: MRFR analysis

Regional Analysis

Asia-Pacific is expected to grow at a significant CAGR owing to economic development in the region, which is increasing the application of coalescing agents in end-use industries such as automotive, construction, and aerospace. China, India, South Korea, Australia, Malaysia, Indonesia, and Thailand are witnessing phenomenal industrial growth, which is expected to increase the application of coalescing agents in industrial coatings. Industrial coatings are used for corrosion control in concrete and steel, majorly used in equipment and machinery which is expected to drive the growth of the Asia-Pacific market during the forecast period.

The increase in consumption of paints and coatings in North America, supported by strong growth in the automotive and aerospace industries is expected to fuel the demand for coalescing agents. The Middle East & Africa is expected to witness healthy growth owing to robust construction activities in the region, is propelling the demand for paint & coatings to be used for decorating and protecting infrastructure and building.

Market Segmentation

The global coalescing agents market has been segmented on the basis of type, application, and region.

Based on type, the global coalescing agents market has been segregated into hydrophilic and hydrophobic.

By application, the global coalescing agents market has been divided into paint & coatings, adhesive & sealants, ink, and others.

The global coalescing agents market, by region, has been studied across five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Coalescing Agents Market Industry Developments

• Q1 2024: Celanese Announces Launch of Eco-Friendly Coalescing Agent for Waterborne Coatings Celanese Corporation introduced a new low-VOC coalescing agent designed for waterborne paint and coating applications, targeting regulatory compliance and sustainability in the construction and automotive sectors.
• Q2 2024: Arkema Opens New Production Facility for Coalescing Agents in China Arkema inaugurated a new manufacturing plant in Shanghai dedicated to producing advanced coalescing agents for the Asia-Pacific market, aiming to meet rising demand from the region’s construction and industrial coatings industries.
• Q2 2024: Evonik Launches Next-Generation Bio-Based Coalescing Agent Evonik unveiled a bio-based coalescing agent for use in architectural and industrial coatings, emphasizing reduced environmental impact and compliance with stringent European VOC regulations.
• Q3 2024: Synthomer Appoints New Head of Coalescing Agents Business Unit Synthomer announced the appointment of Dr. Maria Klein as the new head of its Coalescing Agents Business Unit, signaling a strategic focus on innovation and global expansion.
• Q3 2024: Croda International Partners with Asian Paints to Supply Sustainable Coalescing Agents Croda International entered into a partnership with Asian Paints to supply sustainable coalescing agents for their next-generation waterborne coatings, supporting Asian Paints’ sustainability goals.
• Q4 2024: Stepan Company Expands Coalescing Agent Production Capacity in North America Stepan Company completed an expansion of its North American facility, increasing production capacity for coalescing agents to meet growing demand from the paints and coatings sector.
• Q4 2024: Elementis Launches Low-VOC Coalescing Agent for European Market Elementis introduced a new low-VOC coalescing agent tailored for the European market, designed to help manufacturers comply with evolving environmental regulations.
• Q1 2025: Cargill Unveils Plant-Based Coalescing Agent for Industrial Coatings Cargill launched a plant-based coalescing agent aimed at industrial coatings, highlighting its commitment to renewable chemistry and reduced carbon footprint.
• Q1 2025: Evonik Acquires Minority Stake in Indian Coalescing Agent Startup Evonik announced the acquisition of a minority stake in an Indian startup specializing in innovative coalescing agents, expanding its footprint in the fast-growing South Asian market.
• Q2 2025: Celanese Wins Major Contract to Supply Coalescing Agents for US Infrastructure Projects Celanese secured a multi-year contract to supply coalescing agents for large-scale infrastructure projects across the United States, supporting the country’s push for sustainable construction materials.
• Q2 2025: Arkema Partners with European Automotive OEM for Custom Coalescing Agent Development Arkema announced a partnership with a leading European automotive OEM to co-develop custom coalescing agents for next-generation automotive coatings.
• Q3 2025: Synthomer Announces $100M Investment in Coalescing Agent R&D Center Synthomer revealed plans to invest $100 million in a new research and development center focused on coalescing agent innovation, aiming to accelerate product development and sustainability.

Intended Audience

• High-Performance Paints and Coatings Manufacturers
• Traders and Distributors of Coalescing Agents
• Research and Development Institutes
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratories

Report Attribute/Metric	Details
Market Size 2023	USD 1.21 Billion
Market Size 2024	USD 1.27 Billion
Market Size 2032	USD 1.87 Billion
Compound Annual Growth Rate (CAGR)	4.98% (2024-2032)
Base Year	2023
Market Forecast Period	2024-2032
Historical Data	2018 - 2021
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Basis of type, application, and region.
Geographies Covered	North America, Europe, Asia Pacific, and Rest of the World
Countries Covered	The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Elementis plc (UK), Eastman Chemical Company (US), synthomer plc (UK), DowDuPont (US), BASF SE (Germany), Croda International Plc (UK), Evonik Industries AG (Germany), Arkema (France), Celanese Corporation (US), Cargill, Incorporated (US), Stepan Company (US), OXEA GmbH (Germany), Runtai Chemical Co., Ltd.(China), Chemoxy International Ltd (UK), and Rudolf GmbH (Indonesia).
Key Market Opportunities	Coalescing agents from emerging economies, which will be one of the key factors driving the growth.
Key Market Dynamics	Formulation of packaging products such as cartons, corrugated boxes, and flexible packaging products is driving the growth of the market.