The
global Adhesion
Promoter Market is expected to reach USD 5.21 billion by 2024,
according to a new report by Grand View Research, Inc. Increasing demand for
silane and silicone products to enable efficient transportation with greater
fuel savings is likely to foster industry growth.
The
increasing industrialization in emerging economies such as Brazil, China, India
and Mexico coupled with a growing automotive sector has prompted high demand
for sustainable paints and coatings. Silane promoters, in
particular contribute to extended material lifetime and boost resource
usage especially in automotive paints.
Rising
consumer disposable income in these economies is also expected to contribute to
high passenger car sales which in turn is crucial to industry growth. Growing
environmental and regulatory pressure to reduce resource wastage and carbon
emissions from the transportation sector is also likely to promote product
demand.
High
demand for silane products such chlorosilanes and other alkoxysilanes on
account of greenhouse gas (GHG) abatement effects is likely to foster silane
growth. Silanes thus emerged as the largest product with around 34% market
share in 2015. Maleic anhydride emerged as the fastest growing product with
highest CAGR of 7.3% from 2016 to 2024. These additives provide durability and
enhanced binding capabilities to composites, specifically providing strength
& stability in the automotive & construction sector.
Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/adhesion-promoter-market
http://www.grandviewresearch.com/industry-analysis/adhesion-promoter-market
Further key findings from the report suggest:
- Global
adhesion promoter market size was708.1 kilotons in 2015 and is expected to
reach 1,181.5 kilo tons by 2024, growing at a CAGR of 6.0% from 2016 to
2024
- Plastics
& composites were the leading application segment and accounted for
32.9% of total market volume in 2015.Development of innovative polymer
resin materials and high performance plastic composites is likely to lead
to their usage in automotive, aerospace and marine transportation owing to
their light weight and high strength.
- Technological
advancements are expected to spur product demand in ‘green tires’ leading
to growth in rubbers segment. China generated the highest demand for
promoters in rubber segment accounting for over 17% of its consumption in
2015.
- North
America and Europe present relatively mature markets with a combined share
of around 39% in 2015. Highly developed countries such as the U.S.,
Canada, Germany, the UK, France and Italy witnessed high product
penetration, presenting few opportunities to market participants over the
forecast period.
- Adhesion
promoters market is mainly dominated by multinational players such as
BASF, Arkema, The 3M Company, Eastman Chemical Company, DuPont, Ashland,
Momentive Performance Materials Inc., Dow Corning Corporation, Altana AG,
Evonik Industries among several other independent players.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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