Adhesion promoters are the coupling agents that function as the interface between an inorganic surface and organic polymer to enhance adhesion between the two materials. This chemical increases the adhesive strength of the coatings by strengthening the bond between the substrate and the coating. Adhesion parameter functions in any of the three ways, such as, as a primer between coating layers, a primer between substrate and coatings or as an additive in the preparation of paints and coatings, rubbers, inks and polymers among others
Global Adhesion Promoter Market is expected to project a notable CAGR of 5.4% in 2030.
Global Adhesion Promoter Market to reach USD 4.91 billion by 2030 from USD 2.84 billion in 2020 at a CAGR of 5.4% in the coming years, i.e., 2021-30. Global Adhesion Market is anticipated to witness lucrative growth opportunities in the coming years. This growth is attributed to mounting use of the material in the automotive sector and electrical and electronic industry, rising public interest towards environment-friendly products, increasing application in the packaging industry.
Global Adhesion Promoter Market: Segments
Plastics and Composites segment to grow with the highest CAGR during 2020-30
Global Adhesion Promoter Market is bifurcated by application into Plastics & Composites, Paints & Coatings, Rubber, Adhesives, Metals and Others. Among these, plastics and composites segment held the largest market share of 33.4% in the year 2020. According to this report,plastics and composites is the most dominant segment and thus, is expected to rise at a CAGR of 5.4% during the forecast period. These materials are mostly used in the manufacturing of precision-engineered products, due to its beneficial product properties which comprises of chemical resistance, flexibility and light weight. The segment’s growth is attributed to the mounting consumption of plastics in the automotive industry which lead to fuel savings by reducing overall car weight.
High demand in the automotive industry
Demand for adhesion promoters is rising in the automotive industry for improving the adhesion on inks on tire labelling and strength of paints and coatings on automotive parts & components is anticipated to drive the demand for adhesion promoters in the coming years. Also, developments and innovations in the advance multilayers packaging and advance composites have led to an increase in demand of the adhesion promoters in the plastics and composites industry.
Adhesion promoters adversely impact the environment in terms of VOC contribution which has led the governments to impose stringent rules and statutory norms impeding the growth of the global market. Also, underdeveloped recycling industry in the developing and under-developed economies is also inhibiting the growth of the global adhesion promoter’s market.
Global Adhesion Promoter Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• Air Products and Chemicals, Inc.
• AkzoNobel NV
• Arkema SA
• BASF SE
• Eastman Chemical Company
• Evonik Industries AG
• Mitsubishi Chemical
• Mitsui Chemical
• TOYOBO CO. LTD.
• Other Prominent Players
Global Adhesion Promoter Market: Regions
Global Adhesion Promoter Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa.
As per our estimates, Asia-Pacific’s Adhesion Promoter Market value is estimated at $0.87 billion in 2020 and anticipated to grow at a CAGR of 5.4% during the forecast period of 2021-2030. Asia-Pacific is dominating the global adhesion promoters’ market and is projected to continue leading the market throughout the forecast period. Mounting demand for paints & coatings, plastics & composites and rubber in the construction industry is driving the demand for the adhesion promoters in the region. Growing application of the product in tire labeling and paints & coatings in the automotive industry is also fueling the growth of the market in the region. Economic growth is also one of the major factors leading to the growth of the market since it has necessitated the requirement of both institutional and commercial infrastructure spaces. Various global market players are establishing their manufacturing base in the region due to easy availability of labor and raw materials.
Global Adhesion Promoter Market report also contains analysis on:
Adhesion Promoter Market Segments:
• By Application
o Plastics & Composites
o Paints & Coatings
• By Type
o Maleic Anhydride
o Chlorinated Polyolefins
o Titanate & Zirconate
• By End-User
o Building & Construction
o Automotive & Transportation
• By Form
o Spray Forms
• Adhesion Promoter Market Dynamics
• Adhesion Promoter Market Size
• Supply & Demand
• Market Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints