Vinyl Toluene Market to Register Substantial Expansion by 2024
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Vinyl toluene is frequently used to dissolve varnishes and paints. Formulation of fast dry paints helps in producing paints and coatings for industrial indoor and other such applications. Fast drying of paints proves to be a vital factor in the application of these paints for these specific applications. Paints and coatings formulated by vinyl toluene can be applied using various means such as spray, brush, dip, etc. This makes recoating the paint easy and also makes it useful particularly in refinishing and maintenance.
Improved solubility of vinyl toluene based alkyd resins can offer the paints formulators with several key advantages. Some of the key advantages include, formulation of fast dry paints with aliphatic solvents, formulation of fast dry paints which can be sprayed, rolled, brushed or dip applied, formulation of low odor and low cost fast dry paints and the formulation of coatings possessing excellent moisture resistance, hardness and gloss. Some of the major applications for vinyl toluene modified resins include machinery enamels, production line pre-finishing, primers, toy and hobby finishes, metal furniture, multi color finishes, industrial brushing enamels, hardware enamels, ink varnishes, oils for paper coatings, general purpose fast drying maintenance enamels and aerosols amongst others. Alkyds containing vinyl toluene can also be used as blending resins in some other systems in order to develop early hardness and speed up drying times.
The major end-user industry of vinyl toluene is the paints and coatings industry and the demand for vinyl toluene is anticipated to grow parallel to the growth in the paints and coatings industry. Growing population is Asia Pacific has led to an increase in demand for construction activities across this region. Further increasing urbanization particularly in countries such as China and India is anticipated to increase the demand for more residential and commercial construction. This increase in construction activities is further expected to augment the demand for vinyl toluene in the near future.
The key market segments for vinyl toluene include North America, Europe, Asia Pacific and Rest of the World. The demand for vinyl toluene was the highest in Asia Pacific, followed by North America and Europe. The markets such as North America are mature and are not expected to grow by a huge margin over the next few years. Recovering construction sector in these regions is anticipated to drive the demand for vinyl toluene in the next few years. Due to the recent increase in construction activities in emerging economies like India and China the demand for vinyl toluene is expected to grow at a very fast pace in this region in the near future. In the coming years, China is expected to be one of the biggest manufacturers of vinyl toluene used in paints and coatings. Vinyl toluene is also extensively used in industrial coating applications. Hence the demand for vinyl toluene is also anticipated to increase across the globe in the next few years.
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The key companies profiled for this market include Ashland Inc., and Deltech Corporation among others.
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