New York, NY, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Polaris Market Research has published a recent study report titled " Crosslinking Agents Market Share, Size, Trends, Industry Analysis Report, By Chemistry (Amino Amine, Amide, Aziridine, Isocyanate, Carbodiimide); By Application; By Region; Segment Forecast, 2024 - 2032“ in its research database.
As per the recent analysis by Polaris Market Research, the global crosslinking agents market size and share was valued at USD 8.66 Billion in 2022 and is predicted to reach USD 15.03 Billion by 2032. Also, the study states that the market reveals a robust 6.3% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032.
What is a Crosslinking Agent? How Big is Crosslinking Agents Market Size & Share?
- Report Overview
Crosslinking agents are a crucial segment of polyhydrocarbon photoresist. The photochemical curing result of this photoresist relies on crosslinking agents with binary photosensitive operational classifications to engage in a reaction. The cross linking agent creates double free radicals subsequent to submission which collaborates with polyhydrocarbon resins to configure links between polymer molecular chains and become unsolvable materials with a three-dimensional framework. The rapidly rising demand for crosslinking agents market can be attributed to the fact that they are predominantly utilized in polymer substances. Due to the molecular framework of polymer substance being homogeneous to the long line, it has reduced robustness when not crosslinked, is simple to bring about, and has no elasticity. The part of cross linking agent is to generate chemical bonds amidst linear molecules rendering them to communicate with each other.
Crosslinking agents market growth can be attributed to the fact that the procedure of crosslinking includes combining polymers jointly through a chemical connection. It can be either intra or inter-molecular and is normally irreparable. It enhances the thermal steadiness of the polymer. The increasing research ventures in the industrial sector concentrate on the formation of productive crosslinking agents with the capacity to consider their application in several areas, foremost the oil and gas industry.
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What are the Key Findings of the Report?
- Crosslinking agents improve the thermal steadiness of the polymer, which is normally irreversible and is, in turn, pushing the market expansion.
- The crosslinking agents market segmentation is primarily based on chemistry, application, and region.
- Asia Pacific dominated the market with the largest market share in 2022.
Who Produces Crosslinking Agents?
- Aditya Birla Corporation
- Allnex Group
- Angus Chemical Company
- BASF
- Covestro
- DSM Coatings Resins
- Evonik Industries
- Hexion
- Huntsman Corporation
- Ineos
- Lord Corporation
- The Dow Chemical Company
- Wanhua Chemicals Group
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Crosslinking Agents Market Report Highlights
- The isocyanate segment is anticipated to witness the highest growth in the coming years due to its ability to provide strong bonds between materials.
- Automotive coatings segment accounted for the largest market share owing to the rising demand for high-performance materials.
- Asia Pacific is projected to register the largest growth rate in the study period owing to the rapid growth in the construction industry.
Market Dynamics
- Which Factors are Driving the Market Growth?
Crosslinking agents are compounds with two or more reflexive edges that combine with the operational categories of proteins and alternate molecules. A research published in BioResources ushered modified research on detecting the impacts of crosslinking agents on Nordic Bleached Softwood Kraft (NBSK) hand sheet features. It gauged the impact of mDMDHEU (methylated 1,3-dimethylol-4,5-dihydroxyethylene urea) crosslinking on the automatic and water soaking up of traits of NBSK hand sheets as juxtaposed to the glyoxal. The crosslinking agents market size is expanding as the outcomes indicated that mDMDHEU might be an additional impactful crosslinking agent for improving the wet presentation of paper goods.
The crosslinking agents market sales are soaring due to the growing demand for electric vehicles which is propelled by the speedy consumer partiality for electric vehicles because of government inducement to acquire renewable energy resources. As per the International Energy Agency (IEA), a track record of 6.5 million vehicles were disbursed globally in 2021, just about binary the aggregate disbursed the year before. In 2021, EV sales, as per the report, were reckoned to be 9% of the global auto market, a quadruple escalation just two years earlier. By the finish of 2021, there were roughly 16.5 million EVs on the road globally which is thrice more in 2018. This continuing trend might push the making of electric vehicles, driving the demand for crosslinking agents in the near future.
- What are the Latest Market Trends and Opportunities?
The majority of polymer substances, such as rubber or thermosetting resins, need crosslinking agents. Polymer substances have minuscule robustness when not cross linked, are easy to shaft, and possess no flexibility due to their molecular framework being homogenous to a long line. By modeling chemical connections between linear molecules, the crosslinking agent eases the interplay of the linear molecules.
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Overview of the Top Segments
- The Isocyanate Segment Witnessed a Steep Surge
Based on chemical analysis, the isocyanate segment witnessed a steep surge. The crosslinking agents market demand is on the rise due to its broad gamut of applications because of its escalated agreement as a crosslinking agent. A 2019 research concentrated on the potential of crosslinking agents to make wood commodities. As the researchers carried out an examination on examining the capacity of isocyanate in crosslinking agents, there will be a massive market probability soon. Additionally, isocyanate is known for its steady and substantial bonds because of its sizeable gluey features. Because of its uncommon presentation, it is excessively embraced in construction undertakings where robustness and durability are selected in the industry.
- Automotive Coating Segment Dominated the Market
Based on application, the automotive coating segment dominated the market. The crosslinking agents market trends include it being utilized in the manufacturing procedure of vehicles involving plastering joints and securing elements. In binders and glues, crosslinking agents are used in vehicles to improve the presentation and security of the consumers. Additionally, it operates productively in the power and electronic industry because of its potential to encourage power insulation. As electric instruments expand in size, there will be demands for glues and binders, pushing contemporary growth opportunities.
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Crosslinking Agents Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 377.20 Billion |
| Market size value in 2023 | USD 221.96 Billion |
| Expected CAGR Growth | 6.1% from 2023 – 2032 |
| Forecast Year | 2023 – 2032 |
| Segments Covered | By Product, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Landscape
Asia Pacific: This region held the largest crosslinking agents market share due to the proliferating construction industry. The Indian Federal Government perpetrated approximately USD 10 trillion in undeviating framework disbursements as a part of the budget for 2023. The increasing number of government enterprises to push the country's advancement is propelling the augmentation of the construction industry, which may additionally improvise the expansion of the market in this field as they are embraced into construction ventures involving coatings due to their gluey features.
Europe: This region is anticipated to be a speedily growing region with a fit CAGR in the course of the projected period due to the increasing packaging industry and government inventiveness to encourage renewable energy such as solar. The pervasiveness of impactful features involving glues and coatings can encourage the advent of the longevity of packing matter, pushing its usage by making firms produce inventive commodity packaging for buyers. Additionally, they are also utilized in the making of solar and wind consoles. The increasing consciousness about renewable energy resources is pushing the demand for crosslinking agents in the region.
Browse the Detail Report “Crosslinking Agents Market Share, Size, Trends, Industry Analysis Report, By Chemistry (Amino Amine, Amide, Aziridine, Isocyanate, Carbodiimide); By Application; By Region; Segment Forecast, 2024 - 2032” with in-depth TOC at: https://www.polarismarketresearch.com/industry-analysis/crosslinking-agents-market
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Current Progresses
- In April 2021, a study published in the National Library of Science focused on finding the crosslinking agent’s reactivity of phenyl isocyanate, including sucrose, sorbitol, and glycerol.
Report Answers to the Following Questions
- What is the study period of the crosslinking agents market?
Ans: The study period of the market is 2023-2032
- At what CAGR is the market expected to grow?
Ans: The market is expected to grow at a CAGR of 6.3%
- Which segments are covered in the report?
Ans: The segments covered in the report are the isocyanate segment and the automotive coatings segment.
- Who are the market's key players?
Ans: The key players in the market are Aditya Birla Corporation, Allnex Group, and Angus Chemical Company.
- Which region holds the largest crosslinking agents market share?
Ans: Asia Pacific region held the largest market share
Polaris Market Research has segmented the crosslinking agents market report based on chemistry, application, and region:
By Chemistry Outlook
- Amino
- Amine
- Amide
- Aziridine
- Carbodiimide
- Isocyanate
- Others
By Application Outlook
- Automotive Coatings
- Decorative Coatings
- Industrial Coatings
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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