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[195+ Pages Report] The global adhesion promoter market is set for rapid growth over the forecast period. In terms of revenue, the global adhesion promoter market accounted for USD 3,200 Million in 2019 and is anticipated to reach around USD 4,960 Million by 2026, growing at a CAGR of 6.4% through 2026.
Adhesion promoters also known as coupling agents are used to strengthen the bond between the substrate and the coating. They help to improve the affinity between the two surfaces during the process of adhesion. In case the compound is not fully compatible with a certain substrate, adhesion promoters also help to promote the chemical fastening action.
The increasing demand from the automotive industry and the rising use of adhesion promoters in composites are expected to drive the adhesives and sealants market. Due to emerging applications such as printed circuit boards, demand for adhesion promoters is expected to rise. This is enabling companies to increase their adhesion promoter output. Furthermore, the convenient supply of raw materials is expected to raise adhesion promoter demand in the near future. Technological advances are emerging in the global adhesion promoters industry. Companies are still looking for innovative and improved adhesion promoters. The adhesion promoters market is expected to be propelled by the development of new manufacturing processes and applications. Plastics and polymers have also seen a significant increase in automotive applications, as they help to decrease the weight of vehicles and thereby lead to energy conservation during transportation. In the near future, the global adhesion promoters market is anticipated to be driven by the demand for adhesion promoters from the automotive industry for adhesion of plastic and polymer components. However, environmental issues about certain adhesion promoters are likely to restrain the global adhesion promoters market.
COVID-19's outbreak in 2020 has had an impact on the global economy and market scenario in major industries around the world. The limitation in industrial operations, trade practices, supply-chain uncertainty, and other events in global lockdown has resulted from the pandemic scenario. During this situation, adhesion promoter markets main end-use sectors, such as automotive, construction, engineering, and packaging, were also impacted. The economy has been affected by a drop in oil prices and delays in new pipeline completion, lower demand from the automobile industry, and a partial freeze in construction activities across the globe for a few months in 2020. As a result of slow demand from end-use sectors, the high-growth adhesion promoter industry is projected to slow down in 2020. The economy, on the other hand, is improving, and businesses have resumed operations with limited capability and in accordance with government guidelines. From the beginning of 2021, all end-use industries are projected to be fully operational, resulting in strong demand for adhesion promoters. As a result, the demand is expected to grow at a rapid rate over the forecast period. Several applicants in the automotive, construction, packaging, and electronics sector have endorsed the usage of adhesion promoter products as it can ideally enhance the product offered by many. In increasing sales, making things more recognizable and appealing to a buyer plays a critical role. This also serves to show in the shop the range of items or product combinations available.
During COVID-19 lockdowns, the adhesion promoter industry faced both a supply and demand crunch. If COVID-19 infections spread across the workforce, plant capacity may be harmed unless appropriate preventative measures are taken. The lockdown slowed the manufacturing of the adhesion promoter. Due to the lockdown, the supply of finished goods and the procurement of raw materials were also hindered in the supply chain and logistics. Because the majority of the adhesion promoter industry's production workforce is employed in on-site jobs that cannot be performed remotely, the industry may be particularly vulnerable. Furthermore, given the nature of the industry, businesses may need to consider how to generate social distancing in workplaces where workers are often crowded. Trade limitations, market fluctuations, production chain disruption, unpredictable demand, and workforce shortages are estimated to affect the chemical industry as a whole.
The global adhesion promoter market is bifurcated into its type, form, application, end-use industry, and regions. Based on the type, the global market is divided into maleic anhydride, silane, titanate & zirconate, chlorinated polyolefins, non-chlorinated polyolefins, and others. Based on form, the market is bifurcated into spray, and liquid. Based on the application, the global market is divided into paints & coatings, adhesives, plastics & composites, rubber, metals, and others. Based on the end-use industry, the global market is divided into automotive & transportation, consumer goods, building & construction, packaging, electronics, and others. Geographically, the global adhesion promoter market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Asia Pacific region dominated the global adhesion promoter market in 2019 with a market share of over 40% and is anticipated to continue its dominance in the upcoming years. The Asia Pacific market is also anticipated to a significant growth rate in the forecast period. The dominance of the Asia Pacific market can be attributed to the rapid industrialization and the growing automotive and transportation industry in the region. The APAC region's economic development, particularly in emerging markets like India, Indonesia, Vietnam, Thailand, Malaysia, and Taiwan, is leading to an increase in the number of infrastructure projects, which is expected to drive demand for adhesion promoter in the building and construction industry. The automotive, packaging and electronics sectors are projected to benefit from the increasing manufacturing sector. Due to technological transfer from western economies, China and India have seen an increase in automobile demand in recent years.
The presence of a large number of end-users in North America, as well as increasing construction investment in the United States, is driving demand. Furthermore, demand is expected to be driven by various strategic steps taken by companies such as Eastman Chemical Company, BASF, and 3M. In terms of consumption, Germany, France, and the United Kingdom dominate the European adhesives industry across a broad variety of applications. The engineering, electronics, and automotive industries are all driving regional development.
Some of the key players in the adhesion promoter market are Arkema SA, Borica Co. Ltd, Altana AG, Momentive Performance Materials Inc., Evonik Industries AG, Eastman Chemical Company, Air Products and Chemicals, Inc., DOW Corning Corporation, Toyobo Co. Ltd., Solvay SA, Shin Etsu Chemical Co. Ltd, DIC Corporation, Clariant AG, BASF SE, 3M Company, Sartomer Inc., Akzonobel NV, and Nippon Paper Industries Co. Ltd. among others.
The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample
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