Global Adhesion Promoters Market - Segmented by Type, Application, End-user Industry, and Geography - Trends and Forecast (2018 - 2023)
The global adhesion promoters market is expected to register a moderate CAGR during the forecast period. Adhesion promoters are used in order to form a thin anchoring layer between the substrate (and other adhesive material) and the coating. These promoters create a permanent covalent bond, which significantly increases the adhesion of the coating to the substrate, thereby increasing the performance of the end product.
Increasing Usage in Packaging Sector
Adhesion promoters also help in improving the aesthetics of the packaging product. Currently, most of the global companies are implementing various designs on the outer cover of their products as a marketing strategy. These are majorly implemented in the form of paints & coatings or adhesive agents. This, in turn, is increasing the usage of adhesive promoters, as these materials help to prevent the coatings or the adhesives (tapes or layer) from wear and tear. Driven primarily by rising consumer engagement and improving technology, demand for intelligent packaging has recently surged and is expected to continue on a high-growth trajectory during the forecast period.
Usage of Titanate & Zirconate Based Promoters are expected to Increase
The usage of titanates and zirconates as adhesion promoters are expected to experience a significant growth in the long run. This is because these materials offer improved properties than silanes. Titanates strongly improve adhesion to metallic substrates are strongly improved through covalent bonding by crosslinking the functional groups of a wide variety of resin binders and acting as coupling agents for pigments and fillers. The use of titanium adhesion promotors can eliminate the need for more costly surface roughening processes and pre-treatment that are often needed to promote adhesion of various substances. The increasing usage of titanium in printed and hybrid circuit boards is expected to escalate the usage of titanate and zirconate adhesive promoters during the forecast period.
Asia-Pacific to Dominate the Market
The high population in the region ensures high availability of skilled labor. Moreover, the region’s geographic location provides easy access to industrial goods markets across the globe. In addition, the governmental policies of emerging economies, such as China and India, have been in line with the proposed objectives to implement economic reforms. China is the global leader in the paints and coatings consumption, by revenue. This can be attributed to the country being one of the largest producers of automobile, leading to a growing automotive refinish market. All of these factors are expected to drive the demand for adhesion promoters in the region.
Major Players: BASF SE, Evonik Industries, 3M Company, Eastman Chemical Company, and DowDuPont, among others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type used in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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