United States, Rockville, MD , June 03, 2022 (GLOBE NEWSWIRE) -- As per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the global crosslinking agents market is projected to expand at a CAGR of 4% and reach US$ 18.45 billion by the end of 2032.
Crosslinking is used in both biological and synthetic chemistry. The word 'crosslink' is used to describe a distinction between the physical and mechanical properties of artificial polymers. The degree to which characteristics are altered is determined by the crosslink density. The viscosity of the compound is reduced when the crosslink density is low, but a high-density crosslink leads the material to become extremely stiff.
The technique of covalent crosslinking is utilized in scientific and industrial application technologies for regulating and enhancing the features of the resulting polymer interface or solution, such as coatings and thermosets. Crosslinking agents are used because of their ability to change polymer chains, boosting cohesiveness, product thermal resistance, and reducing peel tack and stickiness.
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One of the primary factors driving the growth of the crosslinking agents market is the increased use of powder coatings across the world. Electrical wires, hot water pipes, specially molded containers, thermal insulation, automotive trims, and sports equipment are just a few of the end uses of crosslinking agents. Consequently, the expanding automotive, coating, and pulp & paper sectors around the world will play a key role in driving the demand for crosslinking agents over the coming years.
Key Takeaways from Market Study
- Global crosslinking agents market to reach a valuation of US$ 18.45 billion by 2032.
- Market in North America is projected to increase at a CAGR of 4% over the forecast period.
- Europe accounts for 25% share of the global market.
- Consumption of amino crosslinking agents is expected to rise at a CAGR of 5.1% from 2022 to 2032.
“Consumption of crosslinking agents has always been significantly higher in automotive applications. Because of the constant demand for coatings in the transportation sector, i.e. various types of vehicles, the market is expected to continue to thrive over the coming years,” says a Fact.MR analyst
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Winning Strategy
The focus of major players is on enhancing their sales and distribution networks. Some market players are also concentrating on expanding their manufacturing capacities across regions to increase global volume sales while also fulfilling consumer needs.
With the increased demand for crosslinking agents in the worldwide market, market players are expected to benefit from attractive growth prospects over the coming years.
For instance,
- In Jan 2021, Huntsman Advanced Materials purchased Gabriel Performance Products from Audax Private Equity.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global crosslinking agents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of chemistry (amino, isocyanate, aziridine, carbodiimide, amine, amide, other chemistry) and application (decorative coatings, industrial coatings), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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