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.
In depth research report on adhesives and sealants 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.
Grand View Research has
segmented the adhesion promoter market on the basis of product, application and
region:
Global Adhesion Promoter Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
Silane
•
Maleic anhydride
•
Chlorinated polyolefins
•
Titanate & zirconate
•
Others
Global Adhesion Promoter Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
Plastics &composites
•
Paints &coatings
•
Rubber
•
Adhesives
•
Metals
•
Others
Global Adhesion Promoter Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
North America
•
U.S
•
Canada
•
Mexico
•
Europe
•
Germany
•
UK
•
France
•
Italy
•
Asia Pacific
•
India
•
China
•
Japan
•
South Korea
•
Central & South America
•
Brazil
•
Argentina
•
Middle East and Africa
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About Grand View Research
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 market analysis reports, please visit: http://www.grandviewresearch.com/
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