Crosslinking Agent Market Analysis | 2023-2028

Market Insights

The crosslinking agent market was estimated at USD 9.2 billion in 2022 and is likely to grow at a CAGR of 7% during 2023-2028 to reach USD 13.84 billion in 2028.

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Market Dynamics

Introduction

A crosslinking agent is a chemical compound that creates covalent bonds between polymer chains, enhancing the structural integrity and properties of materials. By linking adjacent polymer chains, crosslinking agents increase the strength, stability, and resistance to deformation or degradation of polymers. They play a crucial role in various industries, including plastics, rubber, coatings, and adhesives, where improved mechanical, thermal, and chemical properties are desired. Crosslinking agents enable the formation of three-dimensional networks within polymers, resulting in materials with enhanced durability, elasticity, and performance characteristics tailored to specific applications.

Market Drivers

There are several factors that explain the crosslinking agent market expansion in different industries. They hold a very special place in the enhancement of the values, such as increasing the levels of durability, strength, and chemical resistance of the process.

Rising Demand from the Coatings Industry:

• Crosslinking agents are critical during the formulation of superior coatings that have enhanced figures of endurance with aspects such as UV, chemicals, and abrasion.
• The automotive, construction, and aerospace industries need high-performance coatings, the demand for which motivates the need for crosslinking agents.
• High demand for protective coatings in infrastructure and mechanical devices also plays the role of boosting the market.

Growing Demand in the Rubber Industry:

• The launch of cross-link agents is very important for vulcanization in the rubber industry, as they provide rubber products with elasticity, strength, as well as resistance.
• The increase in automotive tires, industrial rubber parts, and healthcare products such as gloves is driving the market for crosslinking agents.

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Key Players

The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the crosslinking agent market. Most of the major players providing crosslinking agents are:

• Allnex GMBH
• BASF SE
• Covestro AG
• DOW Chemicals
• DuPont
• Evonik Industries
• Huntsman Corporation
• NGUS Chemical Company
• Shanghai Sisheng Polymer Materials Co., Ltd.
• Wanhua Corporation Group

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Material Type

The crosslinking agent market is segmented into Amino, Amine, Isocyanate, Amide, Aziridine, and carbodimide. Isocyanate is expected to remain the largest and fastest-growing type in the market during the forecast period. Isocyanates are utilized in a variety of coating applications, including high-performance, ornamental, appliance, and automotive coatings [for the manufacture of plastic in 2 and 4-wheelers, in bumpers, and by OEM (by air drying)].

By Application Type

The market is segmented into decorative coating and Industrial coating. The industrial coating segment is expected to remain the dominant as well as the fastest-growing material type in the market during the forecast period. The increasing demand for water-based and environmentally friendly paints and coatings in industrial applications is the main factor driving the growth of the Market's industrial application segment. The crosslinking agent industry is also being driven by the expanding powder coating sector.

Regional Insights

Asia-Pacific is expected to remain the largest market during the forecast period. The market for crosslinking agents is primarily driven by automotive and protective coatings with the help of crosslinking agents. The growing construction is also enhancing the demand for crosslinking agents in the region.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s crosslinking agent market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The crosslinking agent market is segmented into the following categories:

By Material Type

• Amino
• Amine
• Isocyanate
• Amide
• Aziridine
• Carbodiimide

By Application Type

• Decorative coating
• Industrial coating

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.