The report “Crosslinking Agent Market by Chemistry (Amino, Amine, Isocyanate, Amide, Aziridine, Carbodiimide), Paints & Coating Application (Decorative, Industrial), and Region (North America, Asia Pacific, Europe, South America) – Global Forecast to 2022″, The crosslinking agent market is projected to reach USD 13.61 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.
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This study aims to estimate the market size for crosslinking agent in 2017 and provide market forecast till 2022. It offers a detailed qualitative and quantitative analysis of the market. Various secondary sources, including the Paints & Coatings Industry (PCI), American Coatings Association (ACA), Journal of Protective Coatings & Linings (JPCL), and United States Environmental Protection Agency (EPA) have been used to identify and collect information useful for an extensive and commercial study of the crosslinking agent market.
Primary sources, such as experts from related industries and suppliers have been interviewed to obtain and verify critical information, as well as to assess growth prospects of the crosslinking agent market.
Based on paints & coatings application, the crosslinking agent market has been segmented into decorative coatings and industrial coatings. The industrial coating segment has the largest market share and is also the fastest-growing segment.
The growth of the industrial application segment of the crosslinking agent market is primarily driven by the rising demand for water-based and eco-friendly paints & coatings from the industrial applications. The growing powder coatings market is also driving the crosslinking agent market.
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Asia Pacific, Europe, and North America are the key crosslinking agent markets. The market in the Asia Pacific region is anticipated to grow at the highest CAGR between 2017 and 2022, in terms of both value and volume. This growth is mainly attributed to the increasing use of crosslinking agents in industrial hubs. The growing use of industrial coatings in automotive and protective coatings applications is further driving the demand for crosslinking agent in Asia Pacific region. The growing construction industry is also boosting the crosslinking agent demand in the region.
The high cost and non-recyclable properties of some crosslinking agents, such as aziridine and isocyanate, are expected to restrain the growth of the crosslinking agent market. In addition, the availability of self-crosslinking agents, which are an alternative to chemical crosslinking agents, is further restraining the growth of the market.
BASF SE (Germany), Covestro AG (Germany), Evonik Industries (Germany), Huntsman Corporation (US), and Wanhua Chemical Group Co., Ltd. (China) are the leading companies in the crosslinking agent market. These companies are expected to account for a significant market share in the near future.
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