Press release
Global Crosslinking Agents Market Analysis By Leading Manufacturers: Huntsman International LLC., BASF SE, The Dow Chemical Company, Angus Chemical Company, and Lord Corporation
Crosslinking Agents Market - Global Industry Analysis
Crosslinking agents are compounds that enable cross-link which is the formation of a bond linking one polymer to another. The links may be ionic bonds or covalent bonds with the polymers ranging between natural and synthetic. Cross-linking promotes the change in the physical and chemical properties of polymers. In chemistry, referring to a crosslinked polymer means that the entire section of the polymer was exposed to a crosslinking agent and the properties of the final product depend on crosslink density, which if less can increase the viscosity of the polymer melts.
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In most cases, the result of the application of crosslinking agents cannot be reversed which is especially witnessed in the case of certain plastics that cannot be recycled. However, with the growing technological advancement in the field of crosslinking agents, there has been significant growth in the number of agents that do not have a severe environmental impact and can be reused. Although, there are major concerns surrounding prolonged exposure to toxic crosslink agents in their natural form. Hence crosslinking agents should always be used in the presence of trainer professionals and safety gear.
Key Insights
>> As per the analysis shared by our research analyst, the global crosslinking agents market is estimated to grow annually at a CAGR of around 4.1% over the forecast period (2022-2028)
>> In terms of revenue, the global crosslinking agents market size was valued at around USD 12.1 billion in 2021 and is projected to reach USD 18.5 billion, by 2028
>> Due to a variety of driving factors, the market is predicted to rise at a significant rate. The global crosslinking agents market is projected to grow owing to the increasing global requirement and demand for enhanced polymers that exhibit exceptional properties like high-temperature resistance, riding it, and adhesion value, among other traits.
>> Based on chemistry segmentation, aziridine was predicted to show maximum market share in the year 2021
>> Based on application segmentation, industrial coatings were the leading application in 2021.
>> On the basis of region, North America was the leading revenue generator in 2021
Key Players: The global crosslinking agents market is dominated by players like Huntsman International LLC., BASF SE, The Dow Chemical Company, Angus Chemical Company, and Lord Corporation.
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Market Growth Dynamics
The global crosslinking agents market is projected to grow owing to the increasing number of domestic and international players giving rise to healthy competition. The high CAGR may also be attributed to the increasing product awareness and the negative impact of the use of harsh chemicals in coating products. Since products that showcase protective layering are one of the most common objects to come across in day-to-day lives, for instance protecting coating on automobiles, a large section of the population is demanding eco and bio-friendly products which have further caused market players to invest in less-hazardous coating products which could raise the demand for crosslinking agents as the research & development activities grow.
Several players in the coating sector now produce products that do not emit volatile organic compounds and have a lower odor to improve the overall indoor air quality, a major selling point for non-toxic coatings. These factors may result in global market players encouraging the development of friendlier cross-linking agents during the projection period.
The high cost of certain crosslinking agents may restrict global market expansion while the growing product innovation in the coating industry is projected to propel global market growth. However, the presence of substitutes poses a major challenge for global market leaders.
This review is based on a report by Zion Market Research, titled "Crosslinking Agents Market By Application (Decorative Coatings, and Industrial Coatings), By Chemistry (Aziridine, Amine, Amino, Carbodiimide, and Isocyanate, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2028."- Report at https://www.zionmarketresearch.com/report/crosslinking-agents-market
Recent Developments:
In October 2020, Ardian, a leading group dealing in private investments, announced that it has acquired a 50% stake in the Angus Chemical Group, at a total price of USD 2.25 billion
In July 2021, PTTGC Group, a Thailand-based firm, bought Allnex, a leading coating resins maker for USD 4.75 billion
FREQUENTLY ASKED QUESTIONS
Which key factors will influence crosslinking agents market growth over 2022-2028?
What will be the value of the crosslinking agents market during 2022-2028?
Which region will contribute notably towards the crosslinking agents market value?
Which are the major players leveraging the crosslinking agents market growth?
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