The global crosslinking agents market revenue was around US$ 8.17 billion in 2022 and is estimated to reach US$ 14.15 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2031.
Crosslinking is described as a chemical process of bonding links between polymer chains and can be referred to as natural polymers or synthetic polymers. The polymers lose the capability to move as separate polymer chains when crosslinks are added to them. Crosslinking is deployed in both biological sciences and synthetic polymer chemistry.
Market Driving Factors
Surging demand for high-performance materials emerge as a driver in the cross-linking agents market. Cross-linking agents play an essential role in acquiring these enhanced material properties by creating covalent bonds between polymer chains, resulting in a three-dimensional network structure. In addition, the use of cross-linking agents allows manufacturers to fulfill the increasing demand for high-performance materials that can withstand demanding applications and surroundings.
Increasing demand for a variety of coatings is estimated to boost the market. In the coatings business, crosslinking agents are used to raise the coatings' mechanical toughness, aesthetic, and chemical resistance. The crosslinking agents improve corrosion resistance and coating color. As a result, the requirement for crosslinking agents has grown owing to the raised use of industrial coatings in different industries, including marine, automotive, oil and gas, power generation, and many other industrial applications.
The regulatory and environmental concerns associated with certain cross-linking agents act as a restraining factor in the market.
Regional Analysis
Asia Pacific dominated the market in terms of the largest share. This is highly attributed to the increased construction industry. The surge of government initiatives to drive the country's development is boosting the construction industry expansion. This could drive the market in this region due to the increase in products with adhesive qualities used in construction projects, such as coatings.
Europe is estimated to be the fastest-growing region during the forecast period. This is due to the increasing packaging industry and government initiatives to encourage renewable energy like solar. The prevalence of effective properties, including coatings and adhesives, which can facilitate the durability and appearance of packaging material, drives its usage by manufacturing companies to build creative product packaging for end consumers.
Segmentation Insights
Chemistry Insight
The isocyanate segment is predicted to dominate the market in terms of the largest share. This is mainly due to its broad range of applications owing to its higher compatibility as a crosslinking agent. Additionally, isocyanate is known for its durable and sturdy bonds owing to its vast adhesive properties. Furthermore, it is highly integrated in construction activities where longevity and strength are preferred in the industry owing to its exceptional performance.
The amine segment dominates the market in terms of substantial revenue share. This is due to its use in the paper and textile industries. Amine is used frequently in the process of manufacturing textiles. For instance, it is used to improve the color fastness of dues. The increasing research activity on amine applications is raising the consumer base.
Application Insight
The automotive coatings segment dominates the market in terms of the largest share. It is used in the manufacturing vehicle process, including bonding and sealing joint components. In adhesives and sealants, crosslinking agents are used in vehicles to enhance performance and consumer safety. Moreover, it functions effectively in the electronic and power industries owing to its ability to facilitate power insulation.
The industrial coatings segment is estimated to dominate the market in terms of the fastest rate. This is due to the rapid surge in demand for protective coatings due to environmental adversities like metal corrosion. Furthermore, an industrial coating is a material that is used to coat a surface to protect it and enhance its appearance. The main goal of an industrial coating is to protect a surface from the elements and other threats.
Prominent Companies
Segmentation Outline
The global crosslinking agents market segmentation focuses on the Chemistry, Application, and Region.
By Chemistry
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CROSSLINKING AGENTS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CROSSLINKING AGENTS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CROSSLINKING AGENTS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CROSSLINKING AGENTS MARKET, BY CHEMISTRY
5.1 OVERVIEW
5.2 AMINO
5.3 AMINE
5.4 AMIDE
5.5 AZIRIDINE
5.6 CARBODIIMIDE
5.7 ISOCYANATE
5.8 OTHERS
6 GLOBAL CROSSLINKING AGENTS MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 AUTOMOTIVE COATINGS
6.3 DECORATIVE COATINGS
6.4 INDUSTRIAL COATINGS
6.5 OTHERS
7 GLOBAL CROSSLINKING AGENTS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL CROSSLINKING AGENTS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 ADITYA BIRLA CORPORATION
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 ALLNEX GROUP
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ANGUS CHEMICAL COMPANY
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 BASF
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 COVESTRO
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 DSM COATINGS RESINS
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 EVONIK INDUSTRIES
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 HEXION
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 HUNTSMAN CORPORATION
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 INEOS
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 LORD CORPORATION
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 THE DOW CHEMICAL COMPANY
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.13 WANHUA CHEMICALS GROUP
9.13.1 OVERVIEW
9.13.2 FINANCIAL PERFORMANCE
9.13.3 PRODUCT OUTLOOK
9.13.4 KEY DEVELOPMENTS
9.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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