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Adhesion Promoters Market Strategies and Forecasts 2024
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Key factors driving the adhesion promoters market include increase in demand for adhesion promoters in the automotive industry and rise in usage of adhesion promoters in composites. Demand for adhesion promoters is expected to increase due to the new applications such as printed circuit boards. This is encouraging companies to expand the production of adhesion promoters. Additionally, easy availability of raw materials is anticipated to boost the demand for adhesion promoters in the near future.
The global adhesion promoters market is witnessing technological advancements. Companies are constantly striving to develop new and better adhesion promoters. Development of new manufacturing processes and applications of adhesion promoters is estimated to propel the adhesion promoters market. However, environmental concerns related to some adhesion promoters are expected to hamper the global adhesion promoters market.
Based on type, the adhesion promoters market can be classified into silane, maleic anhydride, chlorinated polyolefins, titanate & zirconate, and others. Silane is a commonly used type of adhesion promoter due to its excellent chemical properties. These are used for ultrahydrophobic treatments in urethane, epoxy and acrylic systems. Titanates and zirconates are used in sealants, surface primers, industrial coatings, and various other industrial applications.
Adhesion promoters are used in a wide range of applications due to their chemical properties. Based on application, the market can be segmented into plastics & composites, paints & coatings, rubber, adhesives, metals, and others. The plastics & composites segment accounted for significant share of the adhesion promoters market in 2016 owing to the high demand for these in the plastics industry across the globe.
In terms of geography, the adhesion promoters market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to constitute key share of the market during the forecast period. Asia Pacific is estimated to be a rapidly growing region of the adhesion promoters market, owing to the increase in demand from the automotive industry in the region. Middle East & Africa is likely to be an attractive region of the adhesion promoters market during the forecast period due to the rise in demand from the packaging industry in the region.
Prominent players operating in the global adhesion promoters market include Momentive Performance Materials Inc., Eastman Chemical Company, DOW Corning Corporation, BASF SE, and Arkema SA.
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