Crosslinking Agents Market
Crosslinking Agent Market By Chemistry (Amino, Isocyanate, Aziridine, Carbodiimide, Amine, Amide), By Application (Decorative Coatings, Industrial Coatings) & Region - Global Forecast 2022 to 2032
Crosslinking Agents Market Outlook (2022-2032)
The global crosslinking agent market is projected to increase from a valuation of US$ 12.08 billion at the end of 2021 to US$ 18.45 billion by 2032, expanding at a CAGR of 4%.
Crosslinking Agent Market Size (2022)
US$ 12.43 Billion
Projected Market Value (2032)
US$ 18.45 Billion
Global Market Growth Rate (2022-2032)
APAC Market Share (2022)
Key Companies Profiled
Demand for decorative coatings is projected to increase at a CAGR of 4.3% from 2022 to 2032. Growing demand for water-based crosslinking agents for several decorative applications is set to propel the market forward.
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Sales Analysis of Crosslinking Agents (2017-2021) Vs Market Outlook (2022-2032)
“Rising Focus on High-performance Crosslinking Agents”
According to Fact.MR, a market research and competitive intelligence provider, the global crosslinking agent market expanded at a CAGR of 3.1% from 2017 to 2021.
The crosslinking process creates a three-dimensional network of related molecules by forming chemical linkages between molecular chains. Crosslinking is the chemical process of joining polymer chains together. Synthetic polymers and natural polymers are the two types of polymer chains. It could be an ionic or a covalent link. The crosslink is a covalent structure in a vast majority of situations.
Polymer crosslinking agents generally involve encouraging a difference in the polymers' mechanical and physical properties. Crosslinking transforms a liquid polymer into a gel or solid.
Growing need for high-performance crosslinking agents is propelling the crosslinking agents market forward. Crosslinking agents emit low levels of volatile organic compounds (VOCs) and are pollution-free. Crosslinking agents are becoming more popular in a variety of applications, including wood finishing and automotive coatings.
In both emerging and developed countries, the paints and coatings industry is one of the most important end uses of crosslinking agents. Worldwide crosslinking agent demand is projected to rise at a CAGR of 4% from 2022 to 2032.
Which Industry Dynamics are Shaping Crosslinking Agents Market Expansion?
“Increasing Demand for Numerous Coatings & Eco-friendly Products across Geographies”
The coatings market is huge; hence, in this market, there are a variety of applications such as decorative coatings and various types of industrial coatings. Different industrial coatings, such as wood coatings, protective coatings, and others, are also becoming more popular in the market.
Growing usage of high-performance and floor coatings, as well as fire suppression agents in various applications, are boosting market expansion. Furthermore, the crosslinking agents market benefits from increased investments and rising industrialization.
In biopolymers, antistatic agents are widely employed. Because of their biodegradability, biopolymers are projected to see an increase in demand as people become more aware of the environmental impact of their use.
Rising adoption of eco-friendly crosslinking agents and sustainable products will drive market growth going forward.
What Can Hamper Sales Growth of Crosslinking Agent Manufacturers?
“Presence of Self-crosslinking Agents and Increasing Energy Expenses”
Crosslinking agents are distributed unevenly due to homogeneous blending with polyethylene beds. Furthermore, when melted with virgin polyethylene, crosslinking agents reduce crystallinity due to the absence of the melting property of cross-linked polyethylene, which is projected to hamper the growth of the worldwide crosslinkers market over the coming years.
The crosslinking agents market is projected to be restrained by the high cost and non-recyclable qualities of several crosslinking agents. The emergence of self-crosslinking agents, which are a non-chemical alternative to chemical crosslinking agents, is limiting market growth.
Polyisocyanate crosslinking agents and polyaziridine crosslinking agents are expensive, non-renewable, and slightly harmful to the human skin. These issues are predicted to limit the market for crosslinking agents.
Market competitors are searching for a viable substitute for crosslinking agents, restricting market expansion. Another stumbling block to progress is rising energy expenses across the world.
Which Region is Seeing Rapidly Rising Consumption of Crosslinking Agents?
“Growing Preference for VOC-free Coatings Driving Market Revenue in North America”
North America accounts for 34.8% share of the global crosslinking agents market, owing to an increase in manufacturing companies of various coatings, automotive manufacturing units, and construction industries.
Environmental legislation and companies transitioning to VOC-free coatings are the two main reasons driving the market in the region. Booming paper & pulp and coatings industries are expected to drive the North American market for crosslinking agents over the forecast period.
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How Opportunistic are Growth Prospects in the U.S Crosslinking Agents Market?
“Growing Usage of Industrial Coatings Driving Market Expansion in the U.S.”
The U.S. crosslinking agents market is projected to expand at a CAGR of 4% from 2022 to 2032.
Because of the widespread usage of industrial coatings in automotive and protective coatings applications, as well as improvements in architectural and industrial industries, the United States dominates the crosslinking agents industry.
The U.S. market for crosslinking agents is likely to be driven by continued growth in the paints and coatings industry for numerous applications.
Why Should Crosslinking Agent Suppliers Keep an Eye on China?
“Rising Investments to Improve Architecture Sector to Propel Market Value”
The market in China is anticipated to rise at a CAGR of 4.7% over the forecast period.
Increased usage of crosslinking agents in processing plants and the highly developed automotive sector, as well as ongoing investments to improve the architecture and diverse industrial sectors, are primarily responsible for market expansion in China.
By 2025, the Government of China expects a 20% penetration rate of electric vehicles. With the rising number of automobiles on the road in the country, demand for automotive coatings is expected to rise, thereby influencing the market for crosslinking agents as well.
Why are Amino Crosslinking Agents the Most Popular?
“Amino Crosslinking Agents Preferred Owing to Their Widespread Applications”
Based on chemistry, the crosslinking agents market is segmented into amine, aziridine, amino, isocyanate, carbodiimide, and amide. The amino crosslinking agents segment accounts for 18.9% of the global market share.
In both industrial and decorative coatings, amino crosslinking agents are commonly employed. When blended with other resins, high solids amino crosslinking agents are widely employed as a bridging agent in coating goods.
Rolled steel coatings, automobile coatings, and aqueous coatings all use crosslinking polymers. Increasing amino crosslinking agent demand in several industries such as packaging, metal, wood coatings, and automotive has fueled their demand.
Which Crosslinking Agent Application Will Emerge as a Key Market Contributor?
“Rising Penetration of Crosslinking Agents in Decorative Coatings Due to Their Unique Properties”
Decorative coatings account for 72.3% share of the global crosslinking agents market and will remain dominant over industrial coatings. Domestic, professional, educational, and corporate buildings all have decorative coatings applied to the inside and external surfaces. Expansion of the building industry around the world is driving demand for various crosslinking agents used in decorative coatings.
Chemical resistance, aesthetics, and mechanical strength are all improved by crosslinking in coatings. Crosslinking agents in decorative paints improve color and corrosion resistance. Because of the increased population, rising middle-class income, and urbanization, the construction sector is growing at a significant rate. Increasing construction activities are driving the demand for decorative coatings.
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Launch of new products, product approvals, and other organic growth strategies are being prioritized by crosslinking agent manufacturers. These initiatives have created a way for market players to expand their business and client base.
For instance :
- In 2021, after PTT Global purchased Allnex from Advent, Allnex became a member of PTT Global Chemical Public Company Limited (GC).
Key Segments Covered in Crosslinking Agent Industry Research
Crosslinking Agent Market by Chemistry :
- Other Chemistry
Crosslinking Agent Market by Application :
- Decorative Coatings
- Industrial Coatings
Crosslinking Agent Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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