The amino crosslinking agent segment accounted for the largest share of the crosslinking agent market

The Crosslinking Agent Market is projected to reach USD 13.61 Billion by 2022, at a CAGR of 5.3% by value from 2017 to 2022. The extensive usage of cross linkers in industrial coatings such as automotive, marine, and protective coatings is driving the growth of the crosslinking agent market.

Browse 116 Market Data Tables and 24 Figures spread through 148 Pages and in-depth TOC on "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"

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.

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.

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The amino crosslinking agent segment accounted for the largest share of the crosslinking agent market in 2016.

The amino crosslinking agent segment is estimated to be the largest type segment of the crosslinking agent market, in terms of volume. This high market share is mainly attributed to its usage across various applications, such as automotive, packaging, metal, OEM, and industrial wood coatings. It also finds application in general industrial, powder, plastic, metal, protective, and decorative coatings.

The industrial application segment is expected to grow at the highest CAGR during the forecast period.

The industrial application segment is expected to register the highest growth, in terms of both value and volume during the forecast period. Crosslinking agent is used as a hardener for coating application in the 2K system. It improves the chemical properties, UV resistance, and durability of the coat. Crosslinking agents cater to various coating applications, such as automotive, protective, can/coil, high performance, and marine, among others.

Key companies operating in this market include BASF SE (Germany), Covestro AG (Germany), Huntsman Corporation (US), Wanhua Chemical Group Co., Ltd. (China), and Evonik Industries (Germany).

New product developments, mergers & acquisitions, and expansions are the key strategies adopted by leading players in this market to strengthen their geographic reach, especially in regions such as Asia Pacific and North America. These players are focused on increasing their production capacities of cross linker, thereby addressing the growing demand for cross linker from various paints & coatings applications such as automotive, can/coil, and marine, among others.

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