The latest report by Precision Business Insights, titled “adhesion promoter market” covers complete information on market size, share, growth, trends, segment analysis, key players, drivers, and restraints.
According to Precision Business Insights (PBI), the latest report adhesion promoter market was valued at USD 3,820.0 million in 2022, growing at a 6.5% CAGR from 2023 to 2029. The rising automotive industry drives the adhesion promoter market owing to the increased usage of lightweight materials, polymers, and composites to provide dependable bonding throughout vehicle assembly. According to ACEA, 85.4 million motor vehicles are produced globally every year, leading to a surge in the demand for adhesion promoters. Furthermore, the increasing need for adhesion promoters in paints and coatings by the construction industry is anticipated to propel the market demand. Additionally, the adoption of stringent environmental regulations has provided several opportunities for manufacturers to develop adhesion promoters that are ecologically responsible and adhere to green standards, are sustainable, and eco-friendly. Currently, the development of adhesion promoters especially suited for digital printing applications, that provide good adhesion of inks to various surfaces, is on trend with the development of digital printing technologies. Moreover, the increased advancement in material science, use of composites, coupled with emphasis on sustainable and green technologies, ongoing technological innovations in adhesion promoter formulations, and stringent regulatory requirements and standards are anticipated to heighten the market during the forecast years.
Based on the type, the silanes segment is anticipated to show a significant growth rate in the market share over the forecasting period. Silane-based adhesion promoters have a reputation for being highly successful at promoting adhesion between a variety of substrates and coatings. Silanes are chemical mixtures made of silicon and hydrogen that are frequently employed as coupling agents to increase the compatibility of various materials. Silanes are adaptable and can be employed with a variety of substances, such as metals, glass, ceramics, and polymers. Because of their adaptability, they are excellent for a variety of industries, including the automobile, building, electronics, and more. In order to glue fibers to specific polymers and stabilize composite structures, it is also frequently utilized as a coupling agent. It is anticipated that a high demand for these products in applications requiring resistance to moisture, temperature, and chemicals will promote sector expansion. Silane-based adhesion boosters are also preferred in applications where corrosion resistance is essential.
Asia Pacific accounted for a significant share in the adhesion promoter market. The market is expected to grow at a significant CAGR over the forecast years owing to the rising automobile, electronics, and construction industries in the region. Furthermore, the governments in the Asia-Pacific region have demonstrated a dedication to innovation and infrastructure building. This dedication supports sectors that use adhesion promoters in a variety of applications. Asia-Pacific nations play a significant role in international supply chains. The region is home to numerous manufacturing facilities for global corporations, which increases the demand for adhesion promoters in their manufacturing procedures. North America is also anticipated to grow owing to the increased awareness about sustainability and the presence of significant key players. The market is anticipated to grow in this region too owing to the rapid infrastructural development.
Adhesion promoter market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,
Momentive Performance Materials Inc., Eastman Chemical Company, Dow Corning Corporation, BASF SE, 3M, Arkema SA, Evonik Industries AG, ALTANA AG, Air Products and Chemicals, Inc., E. I. du Pont de Nemours and Company, Dow and DuPont, Rust-Oleum, Bodo Möller Chemie GmbH, Sartomer Inc., AkzoNobel NV, Nagase & Co., Nippon Paper Group, and TOYOBO CO. LTD.