The industry for crosslinking agents is predicted to reach US $ 13.72 billion in 2025, with a compound annual rate of 5.4% between 2020 and 2025. Crosslinking is a chemical process of joining two or more molecules through a covalent bond. The expansion of the crosslinking agent industry is primarily driven by the escalating call for water-based crosslinking agents. These crosslinking agents have low VOC emissions and are environmentally friendly. They are highly being employed in various applications such as wood siding and automotive coatings. The three-dimensional network is formed by connecting the molecules with the help of the chemical bonds that are between the molecular chains and this is done with the help of the cross-linking process. Physical crosslinking is a function of secondary forces such as stereocomplexing, hydrophobic and ionic bonds, while chemical crosslinking is a function of primary forces such as covalent bond formation.
Market drivers and restraints:
The main factor contributing to the expansion of the crosslinker industry is the escalating application of the product in fields such as metal, packaging, automotive, OEM and industrial wood coatings. Due to the advantages of crosslinking agents, such as high performance, heat resistance in paints and floor coverings, and their use in bumpers, industry call is escalating. Additional features such as low VOC emissions, eco-friendly nature, and escalating call for water-based crosslinking agents are driving the expansion of the industry. Uniform mixing of the crosslinking agents with the polyethylene beds leads to uneven distribution of the crosslinking agents, limiting industry expansion. The crystalline nature of crosslinking agents is minimized when femployed with virgin polyethylene due to the lack of melting property, negatively affecting the industry. The industrial coatings segment of the crosslinking agents industry is predicted to have a significant share in terms of value and volume and is also predicted to grow rapidly over the foreseen period. This is due to the increased call for eco-friendly and water-based coatings for various industrial applications.
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Report segmented as:
- crosslinked polyethylene pipes
- crosslinked films
- crosslinked polyethylene foams
- cable insulation
- injection & blow molded articles.
Asia-Pacific, Europe and North America are the main industrys for crosslinking agents. The Asia Pacific region industry is predicted to grow at the highest CAGR between 2020 and 2025, in terms of value and volume. This expansion is mainly attributed to the escalating use of crosslinking agents in industrial clusters. The escalating use of industrial coatings in automotive and protective coatings applications further drives the call for crosslinking agents in the Asia Pacific region. The growing construction industry is also escalating the call for crosslinking agents in the region. The regions that dominate the industry for crosslinking agents are Western Europe and North America. There is a rapid development of the industry in the Asia-Pacific region due to the boom of the automotive industry as crosslinking agents are of enormous importance in this industry. In regions such as India, China and ASEAN countries, the coating, paper and pulp industries are growing, which is contributing to the development of the crosslinking industry. In the coming years, the Latin America and the Middle East and Africa regions will experience sustained industry expansion due to the increase in car production plants, the expansion of the manufacturing plants of different industry players. development of coating and decoration industries.
Important market players:
Key players operating in the crosslinking agent market include Evonik Industries (Germany), Allnex Holding S.à r.l. (Luxembourg), Huntsman Corporation (U.S.), Covestro AG (Germany), BASF SE (Germany), Dupont (U.S.), Lord Corporation (U.S.), Aditya Birla Chemicals (India), Wanhua Chemical Group Co., Ltd. (China), Hexion Inc.(US), Ineos (Switzerland), Shanghai Sisheng Polymer Materials Co., Ltd. (China ), The DOW Chemical Company (U.S.), Stahl Holdings BV (Netherlands), and Angus Chemical Company (U.S.).
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