Crosslinking Agents Market to grow with a CAGR of 4.80% through 2028
Growing
applications of crosslinking agents in marine industry are the major drivers
for the Global Crosslinking Agents Market.
According to TechSci Research report, “Crosslinking
agents Market –Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2018-2028”, the Global Crosslinking
Agents Market stood at USD 7.38 billion in 2022 and is anticipated to
project steady growth in the forecast period with a CAGR of 4.80% through 2028.
This can be ascribed to collaborations and partnerships among leading companies
with a diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
Composites, such as carbon fiber-reinforced
polymers (CFRP), are widely used in aerospace structures due to their
exceptional combination of high strength and low weight characteristics. The
crosslinking agents utilized in the manufacturing process of composites play a
crucial role in enhancing their mechanical properties, including tensile
strength, stiffness, and impact resistance. By facilitating the bonding of
polymer matrices and reinforcement materials, these crosslinking agents
contribute to the creation of a more robust and reliable composite structure,
ensuring optimal performance and safety in aerospace applications. Aerospace
structures also require advanced coatings and finishes that provide effective
protection against corrosion, erosion, and UV degradation. Here, crosslinking
agents continue to play a vital role in the formulation of high-performance
coatings, enhancing their adhesion, chemical resistance, and durability. This
ensures long-term protection for aerospace components, even in the most
challenging environments. Moving beyond aerospace, composites are also widely
used in marine vessels and structures for their excellent strength-to-weight
ratio, corrosion resistance, and design flexibility.
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Crosslinking Agents Market”
In the
manufacturing process of fiber-reinforced polymers (FRP), crosslinking agents
are incorporated into the resin systems to further improve their mechanical
properties, including impact resistance, stiffness, and dimensional stability.
This ensures that FRP structures can withstand the harsh marine environment and
maintain their structural integrity over time, contributing to the longevity
and reliability of marine vessels. To address the issue of fouling, which refers
to the accumulation of marine organisms on the hull surface, anti-fouling
coatings containing crosslinking agents are applied to marine vessels. These
coatings prevent the attachment and growth of organisms, reducing drag and
improving fuel efficiency. By enhancing the adhesion and durability of these
coatings, crosslinking agents provide long-term protection against fouling,
reducing maintenance costs and optimizing the performance of marine vessels. In
the industry, partnerships between crosslinking agent suppliers and their
clients, such as adhesive or coating manufacturers, play a pivotal role in
addressing specific application needs. These partnerships involve close
collaboration in product development, testing, and validation to ensure optimal
performance, reliability, and customer satisfaction. Moreover, collaborative
efforts between researchers have led to significant advancements in injectable
dual crosslinking hydrogels. These hydrogels offer improved therapeutic
efficacy in minimally invasive surgeries, opening up new possibilities in the
field of medical treatments. By providing a more controlled and sustained
release of therapeutic agents, these hydrogels have the potential to
revolutionize medical treatments, offering enhanced healing and recovery
outcomes. Overall, the utilization of crosslinking agents in various industries
showcases their critical role in enhancing the performance, durability, and
reliability of materials and products, leading to advancements in aerospace,
marine, and medical applications. However, presence of self-crosslinking agents and
volatility in prices of raw materials are expected to slow down the growth of
the market in the coming years.
Global Crosslinking Agents Market segmentation
is based on Chemistry, Application, By Company, and Region
Based on Chemistry, Isocyanate held the largest
market share in the forecast period. Isocyanates, highly versatile chemical
compounds, play a pivotal role in a wide range of coating applications. Whether
it's for construction, automotive, or decorative projects, isocyanates are
diligently employed to provide exceptional durability, protection, and
aesthetic appeal. Their unique properties and adaptability make them an
indispensable component in the world of coatings.
Based on Application, decorative coatings held the
largest market share in the forecast period. The demand for decorative coatings
is experiencing consistent growth, propelled by factors such as urbanization,
rising disposable income, and evolving consumer preferences. Decorative
coatings are extensively utilized in residential and commercial buildings for
aesthetic purposes, weathering protection, and surface longevity enhancement.
Crosslinking agents play a crucial role in decorative coatings by bolstering
their durability and resistance against external elements like UV radiation,
moisture, and abrasion. These agents enhance the adhesion and chemical
resistance of coatings, ensuring enduring performance and surface protection.
Some of the major companies operating in the Global
Crosslinking Agents Market include:
- BASF
SE
- Allnex
GMBH
- Covestro
AG
- Evonik
Industries AG
- Huntsman
International LLC
- Dow
Inc.
- Wanhua
Chemical Group Co. Ltd.
- Nisshinbo
Chemical Inc.
- NIPPON
SHOKUBAI CO. LTD.
- Mitsubishi
Chemical Corporation
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“Certain regions, particularly the Asia Pacific,
are projected to exert significant demand for crosslinking agents worldwide.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhancing their crosslinking agents productivity
each year, are expected to contribute to a remarkable growth of the Global
Crosslinking Agents Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Global
Crosslinking Agent Market By Chemistry (Amino, Amine, Isocyanate, Amide,
Aziridine, Carbodiimide, Others), By Application (Decorative Coatings,
Transportation Coatings, Industrial Wood Coatings, Protective Coatings, Marine
Coatings, Can/Coil Coatings, Others), By Region, Competition, Forecast and
Opportunities, 2018-2028F has evaluated
the future growth potential of Global Crosslinking Agents Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global
Crosslinking Agents Market.
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