Global Adhesion Promoter Market Report

Global Adhesion Promoter Market Report

The global adhesion promoters market (henceforth, referred to as the market studied) was valued at USD 3.3 billion in 2022, and it is projected to reach USD 5.6 billion by 2032, at an estimated CAGR of 5.4% during the forecast period.

Major factors driving the market studied are increasing usage in the packaging sector and increasing applications in the electrical and electronics industry. Negative environmental effect is expected to majorly hinder the growth of the market studied.

Growing emphasis on the development of silane-based green tires and growing demand from the automotive sector are expected to offer various opportunities for the growth of the market studied over the forecast period.

By type, the silane segment had the largest share, of the total revenue of the market studied, in 2022. This segment is also expected to witness the fastest CAGR of 6% during the forecast period.

By application, the plastic & coating segment had the largest share, of the total volume of the market studied, in 2022. The metals segment is also expected to witness the fastest CAGR during the forecast period.

By end-user industry, the building and construction segment had the largest share, of the market studied, in 2022. The packaging segment is expected to witness the fastest CAGR during the forecast period.

BASF, Evonik, Dow, Eastman Chemical,. are the top players in the market studied.

Adhesion Promoter Market: COVID-19 Outbreak

Covid-19 pandemic has disrupted the manufacturing activities across the world which has impacted the demand for plastics and their production and processing due to disruptions in supply chain as a result of which the price has increase in interim 2020-2022. Paints & Coatings was hit by slowdown in the production of the goods and exports which led to adverse impact on the adhesion promoter market.

Adhesion promoters market also witnessed the wrath of the humanitarian crisis, since all construction and industry equipment markets experience a downfall. Construction industry is among the potential end-users of the adhesion promoters and has provided with the hope for the market to get back on track in the commercial segment and commence operations with minimal workers in few areas. However, the adhesion promoters’ market is anticipated to rebound strongly in the market and prices are expected to stabilize in the long run.

The effects of the pandemic and lockdown measures on plastics use vary greatly across industries. Plastics use in food products is estimated to have remained roughly unchanged from 2019 (less than 200 kt) and to have declined only slightly below pre-COVID projected levels for 2020.

According to model simulations, the significant negative impact of the lockdown measures on construction activity and motor vehicle demand has resulted in a reduction in plastics use in these sectors of around 4.6 Mt and 2.6 Mt, respectively, compared to 2019 levels. This is due to significant production declines in these sectors.

Each of these sector’s accounts for more than 10% of total plastics use, and these reductions, together with food products, textiles, and wholesale and retail trade, drive the overall effects of the pandemic on plastics use.

Plastics use in the plastics and rubber production sector, as well as in the chemical sector, is roughly unchanged from 2019 levels, representing a 3% decrease from the pre-COVID projection. This is due to lower demand for plastics products in other industries. The model predicts a significant increase in plastics use only in the pharmaceutical industry. The pandemic drove up demand for pharmaceutical products such as vaccines and other medications.

However, total plastics use in this sector remains below 2 Mt globally, making this increase in absolute terms relatively minor (around 200 kt).

Plastics use in the human health and social work sector (which includes the medical sector) increased by 33% above the pre-COVID baseline projection for 2020 and 37% above 2019 levels, according to the simulations. This is almost entirely due to the direct effect of PPE use in the health sector, such as face masks and gloves, which is estimated to be around 300 kilotons. However, while this is significant at the sectoral level, it pales in comparison to the changes in other sectors.