Crosslinking Agent Market

Crosslinking Agent Market Size (2023-2028):

The Crosslinking Agent Market size was around USD 13.83 billion in 2022 and is expected to grow at a CAGR of 8.1% to reach USD 16.02 billion by 2028.

Crosslinking can be described as a natural process of bonding links between compound chains. The compound chains will be brought up as artificial polymers or natural polymers. The bond can be ionic or molecular in nature. During a majority of the cases, the crosslink is usually a covalent structure. Once crosslinks are supplemented with polymers, they lose the power to move as individual compound chains. Crosslinking is utilized in biological sciences and artificial compound chemistry. In artificial polymers, the term ’crosslink’ sometimes refers to a distinction between the polymers’ physical and mechanical properties. The modification of properties depends on the crosslink density. Once the crosslink density is low, it decreases the viscosity of the compound, whereas a high-density crosslink causes the material to become terribly rigid.

Drivers and Restraints of the Cross-Linking Agent Market:

The Cross-Linking Agent market is expected to go through transformations during the forecast period of 2020 to 2025 as the demand for natural and synthetic products is increasing, and there is a shift of trend in production economics. Cross-linking agents provide benefits such as high performance, heat resistance, etc., which have increased their usage in the painting and coatings industry. Many cross-linking agents are known to have low VOC emissions and are environmentally friendly. In addition to this, the demand for water-based crosslinking agents is also growing and it acts as fuel to the growing market. The amino crosslinking agent is the fastest-growing segment in terms of value. They are extensively used in industries such as packaging, metal, powder, and industrial coatings.

The growth in this market is driven by the rising awareness concerning the advantages of crosslinking agents in varied paints & coatings applications, reminiscent of automotive, wood, marine, can or coil, powder, and wall coatings, among others. Because of the increasing relevancy of crosslinking agents, their demand is growing considerably across the globe. However, the high value of crosslinking agents for ornamental coatings is restraining the expansion of the market, predominantly in developing nations such as India, China, and Brazil.

The crosslinking agent market is facing stiff competition. These competitors are proving to be a very feasible substitute for the Cross-Linking Agent and thus hinder the growth of the former. Rising energy prices are another barrier thwarting growth. This is because of the low melting property affiliated with the cross-linking agents. The uniform blending with polyethylene beds leads to an uneven distribution of linking agents. This is a drawback associated with the cross-linking agents and thus brings down growth opportunities.

Opportunities in the Cross-Linking Agent Market:

Increased growth in industries such as automotive, OEM, wooden coatings, etc., which are having a high demand for crosslinking agents has presented the market with a glowing opportunity to register high growth rates. The market is likely to develop with a moderate growth rate in the coming years.

Challenges in the Cross-Linking Agent Market:

Some of the cross-linking polymers are non-recyclable, as a result, their usage gets very limited and many industries find them unsuitable for their needs. The government norms adhering to the usage of recyclable products make it a challenge for the crosslinking agent market.

CROSSLINKING AGENT MARKET REPORT COVERAGE:

Market Segmentation:

Crosslinking Agent Market – By Application:

• Industrial Coatings

• Decorative Coatings

Crosslinking in coating improves chemical resistance, appearance, and mechanical sturdiness. Industrial Coatings with crosslinking agents enhance color and corrosion resistance. Industrial Coatings application includes coatings for concrete floors, metal building exteriors, concrete blocks, and steel structures. The Industrial Coatings segment is calculable to account for a serious share in terms of volume and is additionally anticipated to expand rapidly throughout the forecast period.

Crosslinking Agent Market – By Chemistry:

• Polyaziridine

• Polycarbodiimide

• Polyisocyanate

A crosslinking agent ought to have characteristics like smart chemical resistance, smart compatibility, VOC (Volatile organic compound) free, no gas developments, long pot life, and must be simple to use. The polyisocyanate crosslinking agent segment holds a significant share of the crosslinking agent market because of its numerous applications in automotive, appliances, decorative, packaging, and industrial wood coating.

Crosslinking Agent Market – By Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

North America holds the predominant share of the Crosslinking Agent market followed by Europe. Rigorous environmental laws and industries shifting to VOC-free coatings can be tied to the growth of the market in these regions.

Major companies playing their trade in the Crosslinking Agent Market include

1. Lord Corporation
2. The Dow Chemical company
3. Huntsman Corporation
4. Angus Chemical Company
5. Evonik Industries, Covestro AG
6. Aditya Birla Chemical Company
7. Stahl Holdings BV
8. Lord Corporation
9. Ineos
10. Shanghai Sisheng Polymer Materials Company
11. Allnex Group