“Global Adhesion Promoter Market to reach a market value of USD 5.2 Billion by 2030 growing at a CAGR of 5.3%”
The Global Adhesion Promoter Market size is expected to reach $5.2 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,542.20 Kilo tonnes, experiencing a growth of 4.1% (2019-2022).
Adhesion promoters are employed in polymer blends of plastics and composites to improve the bonding between different polymer matrices, which might otherwise exhibit poor adhesion due to differences in chemical composition. Therefore, the plastics & composites segment captured $1,200.02 million revenue in the market in 2022. Improved wetting leads to better dispersion of fillers or fibers, preventing accumulation and ensuring uniform distribution. This, in turn, contributes to improved mechanical properties and a more homogenous composite structure. Adhesion promoters are crucial in preventing delamination, a common issue in composite structures where layers of the material may separate.
As electronic gadgets become smaller and more compact, manufacturers often use various materials with different properties. Adhesion promoters can be essential in achieving strong bonds between dissimilar materials, contributing to these miniaturized electronic components' overall reliability and performance. Developing new substrates and materials in electronics, such as flexible substrates, advanced polymers, and composite materials, may require specific products to ensure optimal bonding. The market for this may see growth as manufacturers adopt these novel materials in their designs. Additionally, as industries become more aware of the benefits of high-performance coatings in terms of corrosion protection, aesthetics, and overall durability, the demand for complementary products is likely to grow. This is especially true in sectors where coated surfaces are critical for the functionality and safety of products. Adhesion promoters become essential in these sectors, where coatings must adhere securely to substrates for protection against corrosion, extreme temperatures, and other environmental stresses. Thus, the abovementioned factors will drive the market growth in the coming years.
However, Manufacturers facing high production costs may find it challenging to price their products competitively in the industry. The competing products are available at lower prices, it can lead to a defeat of market share and reduced profitability. High manufacturing costs can restrict the accessibility of this to certain market segments or industries. Small and medium-sized enterprises, in particular, maybe more price-sensitive and could be deterred from adopting it. The cost of raw materials, such as chemicals and compounds used in their formulations, can significantly impact manufacturing costs. Dependency on specific raw materials may expose manufacturers to price volatility in commodity markets. While this might help alleviate manufacturing costs, it can also pose quality control, logistics, and intellectual property protection challenges. Due to the above factors, market growth will be hampered in the coming years.
Based on application, the market is fragmented into plastics & composites, paints & coatings, rubber, adhesives, metals, and others. The rubber segment projected a prominent revenue share in the market in 2022. Adhesion promoters are used to manufacture industrial rubber products, including conveyor belts, rollers, and hoses. They enhance the bonding between rubber compounds and reinforcement materials, improving industrial rubber products' overall strength, wear resistance, and longevity. Adhesion promoters find applications in the footwear industry, especially in bonding rubber outsoles to shoe uppers. Enhanced adhesion ensures a durable and reliable bond, contributing to footwear products' overall quality and longevity.
On the basis of the product, the market is segmented into silane, maleic anhydride, chlorinated polyolefins, titanate & zirconate, and others. The maleic anhydride segment acquired a substantial revenue share in the market in 2022. Maleic anhydride is utilized as an adhesion promoter in various industries, including the production of composite materials. It enhances the adhesion between dissimilar materials, improving the overall stability and durability of the composite. Maleic anhydride derivatives are employed as corrosion inhibitors. They create a protective coating on metal surfaces, inhibiting corrosion and extending the lifespan of materials in corrosive environments. Maleic anhydride is used as a surface-sizing agent in the paper industry. It improves the surface properties of paper, enhancing its printability, smoothness, and resistance to water penetration.
Free Valuable Insights: Global Adhesion Promoter Market size to reach USD 5.2 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region recorded a remarkable revenue share in the market in 2022. The automotive industry is a significant consumer of this, using them to manufacture vehicles for bonding various components. Increasing demand for lightweight materials, advanced composites, and electric vehicles has driven the need for effective products. Ongoing research and development activities in the region drive innovation in their formulations and applications. Companies are investing in developing advanced products that meet the evolving needs of industries, including those requiring customized or eco-friendly solutions.
Report Attribute | Details |
---|---|
Market size value in 2022 | USD 3.5 Billion |
Market size forecast in 2030 | USD 5.2 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 5.3% from 2023 to 2030 |
Number of Pages | 310 |
Number of Table | 610 |
Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Product, Application, Region |
Country scope |
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Companies Included | 3M Company, Arkema S.A., Momentive Performance Materials, Inc. (Hexion, Inc.), Eastman Chemical Company, Akzo Nobel N.V., The Dow Chemical Company, DuPont de Nemours, Inc., Air Products and Chemicals, Inc., BASF SE, Evonik Industries AG (RAG-Stiftung) |
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD 5.2billion by 2030.
Technological advancements in electronics are driving the Market in coming years, however, High manufacturing costs of adhesion promoter restraints the growth of the Market.
3M Company, Arkema S.A., Momentive Performance Materials, Inc. (Hexion, Inc.), Eastman Chemical Company, Akzo Nobel N.V., The Dow Chemical Company, DuPont de Nemours, Inc., Air Products and Chemicals, Inc., BASF SE, Evonik Industries AG (RAG-Stiftung)
In the year 2022, the market attained a volume of 1,542.20 Kilo tonnes, experiencing a growth of 4.1% (2019-2022).
The Silane segment is leading the Market, by Product in 2022; there by, achieving a market value of $1.7 billion by 2030.
The Asia Pacific region dominated the Market, by region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $2.3 billion by 2030.
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