The global adhesion promoter market is expected to reach USD
5.21 billion by 2024, according to a new report by Grand View Research, Inc.
Increasing demand for silane and silicone products to enable efficient
transportation with greater fuel savings is likely to foster industry
growth.
The increasing industrialization
in emerging economies such as Brazil, China, India and Mexico coupled with a
growing automotive sector has prompted high demand for sustainable paints and
coatings. Silane promoters, in particular contribute to extended material
lifetime and boost resource usage especially in automotive paints.
Rising consumer disposable income
in these economies is also expected to contribute to high passenger car sales
which in turn is crucial to industry growth. Growing environmental and
regulatory pressure to reduce resource wastage and carbon emissions from the
transportation sector is also likely to promote product demand.
High demand for silane products
such chlorosilanes and other alkoxysilanes on account of greenhouse gas (GHG)
abatement effects is likely to foster silane growth. Silanes thus emerged as
the largest product with around 34% market share in 2015. Maleic anhydride
emerged as the fastest growing product with highest CAGR of 7.3% from 2016 to
2024. These additives provide durability and enhanced binding capabilities to
composites, specifically providing strength & stability in the automotive
& construction sector.
U.S. adhesion promoter market
revenue by product, 2014 - 2024 (USD Million)
Browse full research report on
Adhesion Promoter Market
Further key findings from the
report suggest:
- Global
adhesion promoter market size was708.1 kilotons in 2015 and is expected to
reach 1,181.5 kilo tons by 2024, growing at a CAGR of 6.0% from 2016 to
2024
- Plastics
& composites were the leading application segment and accounted for
32.9% of total market volume in 2015.Development of innovative polymer
resin materials and high performance plastic composites is likely to lead
to their usage in automotive, aerospace and marine transportation owing to
their light weight and high strength.
- Technological
advancements are expected to spur product demand in ‘green tires’ leading
to growth in rubbers segment. China generated the highest demand for
promoters in rubber segment accounting for over 17% of its consumption in
2015.
- North America
and Europe present relatively mature markets with a combined share of
around 39% in 2015. Highly developed countries such as the U.S., Canada,
Germany, the UK, France and Italy witnessed high product penetration,
presenting few opportunities to market participants over the forecast
period.
- Adhesion
promoters market is mainly dominated by multinational players such as
BASF, Arkema, The 3M Company, Eastman Chemical Company, DuPont, Ashland,
Momentive Performance Materials Inc., Dow Corning Corporation, Altana AG,
Evonik Industries among several other independent players.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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