PUNE, India, July 6, 2017 /PRNewswire/ --
The report "Crosslinking Agent Market by Chemistry (Amino, Amine, Isocyanate, Amide, Aziridine, Carbodiimide), Paints & Coating Application (Decorative, Industrial), and Region (North America, Asia Pacific, Europe, South America) - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 13.61 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.
Browse 90 Market Data Tables and 21 Figures spread through 107 Pages and in-depth TOC on "Crosslinking Agent Market - Global Forecast to 2022"
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The use of crosslinking agents has increased in paints & coatings application owing to the high demand for crosslinking agents in water-based coating solutions. In addition, the rapidly growing powder coatings market, globally is also leading to a high demand for crosslinking agents.
The amino crosslinking agent segment accounted for the largest share of the crosslinking agent market in 2016.
The amino crosslinking agent segment is estimated to be the largest type segment of the Crosslinking Agent Market, in terms of volume. This high market share is mainly attributed to its usage across various applications, such as automotive, packaging, metal, OEM, and industrial wood coatings. It also finds application in general industrial, powder, plastic, metal, protective, and decorative coatings.
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The industrial application segment is expected to grow at the highest CAGR during the forecast period.
The industrial application segment is expected to register the highest growth, in terms of both value and volume during the forecast period. Crosslinking agent is used as a hardener for coating application in the 2K system. It improves the chemical properties, UV resistance, and durability of the coat. Crosslinking agents cater to various coating applications, such as automotive, protective, can/coil, high performance, and marine, among others.
The crosslinking agent market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is the largest market for crosslinking agent, in terms of both value and volume, followed by Europe and North America. Various coating applications such as automotive, high performance and protective coating represent the bulk of the demand for crosslinking agent in the Asia Pacific region. Moreover, rising awareness regarding the benefits of crosslinking agents has further contributed to their high demand in Asia Pacific countries, such as China, Japan, and India.
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Key players in the crosslinking agent market
Key players operating in the Crosslinking Agent Market include BASF SE (Germany), Covestro AG (Germany), Huntsman Corporation (US), Wanhua Chemical Group Co., Ltd. (China), Evonik Industries (Germany), Hexion Inc. (US), INEOS (UK), Aditya Birla Chemical (India), Allnex Group (Germany), and Shanghai Sisheng Polymer Materials Co., Ltd. (SiwoChem) (China).
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