Increasing Demand in Asia-Pacific Driving Adhesion Promoter Market
The global market for adhesion promoters was valued at $ 2.51 billion in 2015.
The global market for adhesion promoters was valued at $ 2.51 billion in 2015, and is projected to reach $3.64 billion by 2021, at a compound annual growth rate (CAGR) of 6.4% between 2016 and 2021. This is according to “Adhesion Promoter Market by Type (Silane, Maleic Anhydride, Chlorinated Polyolefins, Titanate & Zirconate, Others), Application (Plastics & Composites, Paints & Coatings, Rubber, Adhesives, Metals, Others), Region―Global Forecast to 2021,” a new report from Markets and Markets.
Growth in the adhesion promoter market is mainly attributed to the increasing demand of automobiles in the Asia-Pacific region, use of adhesion promoters in composites, application of adhesion promoters in printed circuit boards, and the innovation of silane-based green tires.
Among all applications, the plastics and composites segment reportedly held the largest share in the adhesion promoters market. This application segment is projected to grow at the highest CAGR between 2016 and 2021. This growth is mainly attributed to the increasing demand of adhesion promoters in the automotive, packaging, and wire and cable end-use industries.
The silane type segment reportedly held the largest share in the adhesion promoters market. This large share is primarily due to growth in coatings and rubber applications.
In terms of volume, the adhesion promoter market in the Asia-Pacific region accounted for the largest share in 2015. The region’s market is expected to grow at the highest CAGR during the forecast period, owing to growth in the automotive and construction industries from emerging countries, such as India and China.
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