Global Adhesion Promoters Market 2017-2021
About Adhesion Promoters
Adhesion promoters are used to enhance the adhesion property of paints, coatings, adhesives and others. Without the use of adhesion promoters, the performance of the applied paints, coatings, or adhesives will not meet the expected requirements. Adhesion promoters are used to improve the adhesion of paints, coatings, and other adhesives to a substrate. They are extensively used in the metals, rubber, paints and coatings, and plastic and composites industries and are being increasingly used in the automotive industry.
Technavio’s analysts forecast the global adhesion promoters market to grow at a CAGR of 6.4% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global adhesion promoters market for 2017-2021. To calculate the market size, the report covers the present scenario and the growth prospects of the global adhesion promoters market for the period 2016-2021.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Adhesion Promoters Market 2017-2021
Technavio recognizes the following companies as the key players in the global adhesion promoters market: BASF, The Dow Chemical Company, Eastman Chemical Company, Evonik Industries, and 3M.
Other Prominent Vendors in the market are: ALTANA, DuPont, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is demand from emerging economies. The adhesion promoters market will be driven by macroeconomic factors such as rising GDP and high-income levels, especially in emerging economies like China, South Africa, the UAE, Brazil, and India. Infrastructural growth, the growth in the metal industry, and the availability of abundant natural resources in these regions will drive the development of industries such as automotive, construction, and marine. The development of these end-use industries will boost the growth of the global adhesion promoters market. The infrastructure industry, which has a high requirement for coated steel and aluminum, accounts for the consumption of large volumes of coatings.”
According to the report, one driver in market is emerging demand from APAC. APAC is the fastest-growing market for adhesion promoters. The rapid industrialization and economic development in China, India, and Japan are the key drivers for the adhesion promoters market in the region. The APAC countries have benefitted from macroeconomic policies such as those implemented to promote comprehensive growth, job creation, economic stability, and economic transformation including efforts to increase the revenue earned by commodity-exporting countries. The continuous economic growth of China, India, Japan, Australia, and New Zealand has boosted the growth of APAC's GDP over the past few years. APAC witnessed considerable growth in 2015 due to a sharp decline in the world price of oil. Most of the Asian countries are large importers of oil and gas. Thus, they are expected to have benefitted from low oil import costs and low fuel costs. Because of the above factors, the vendors of adhesion promoters are likely to observe remunerative opportunities across all application areas in APAC, which, in turn, is likely to boost the global adhesion promoters market.
Further, the report states that one challenge in market is conformance to stringent regulations and statutory norms. The manufacturers of adhesion promoters need to adhere to the strict environmental regulations on the manufacturing of adhesion promoters. Environmental regulations such as the European Union's Restriction on Hazardous Substances directive include bans on the use of chemicals such as cadmium, lead, and other hazardous materials. Thus, strict regulations on the use of hazardous materials are acting as challenges to the development of eco-friendly adhesion promoters. However, the biggest challenge to the development of adhesion promoters is the restrictions imposed on volatile organic compounds (VOCs) emissions as there is no dependable measure for VOCs. The lack of a dependable measure makes the sampling, measurement, and selection of methods for the removal of VOCs from chemicals difficult. The adhesion promoter manufacturers are legally required to meet the statutory requirements and standards such as the Waste Electrical and Electronic Equipment directive and the German Chemicals Prohibition Ordinance.
BASF, The Dow Chemical Company, Eastman Chemical Company, Evonik Industries, 3M, ALTANA, DuPont, and Wacker Chemie.