The Cross Linking Agent market size is projected to grow from USD 9.9 billion in 2023 to USD 13.6 billion by 2028, registering a CAGR of 6.5% during the forecast period. The growing demand for high-performance materials, increasing applications in industries like automotive and construction, growing emphasis on sustainability, and advancements in technology and research has fuelled the Cross Linking Agents market. Moreover, development of new applications, high potential in emerging countries of APAC, and multi-functionalities of cross linking agents is expected to drive the market during the forecast period.
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The key players in the Cross Linking Agent market are BASF SE (Germany), Covestro AG (Germany), Allnex Group (Germany), Evonik Industries (Germany), Hunstman Corporation (US), Aditya Birla Corporation (India), Wanhua Chemicals Group Co. Ltd (China), The Dow Chemical Company (US), DSM Coatings Resins (China), and Ineos (UK) are some of the leading players in the market. These players have adopted various strategies such as mergers & acquisitions, new product launches and investment & expansion to strengthen their market position.
BASF SE manufactures products through its five business segments, namely, performance products, chemicals, agricultural solutions, oil & gas, and functional materials & solutions. BASF has its subsidiaries in more than eighty countries and supplies products to a large number of business partners. It offers a broad range of chemicals, plastics, performance products, and crop protection products. The company manufactures crosslinking agents through its chemical segment under dispersion and pigments and under its performance products in monomer division. The company has its presence all around the globe, with its operations in the Americas, Europe, the Middle East & Africa, and Asia-Pacific.
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In its dispersion & pigments and monomer divisions, the company provides key raw materials for the formulation of coatings and paints, printing and packaging products, paper, and more. BASF SE offers products for coil coating (primer), powder & wood coating, an automotive coating, marine coating, protective coating, decorative coating, can/packaging coating, furniture, PUR coating through its dispersions & pigments division.
Covestro AG, is a subsidiary of Bayer AG. It was formerly Bayer Material Science, but since 2015, it has been operating under the name Covestro. The company is a manufacturer of high-tech materials and operates through the following business units: polyurethanes, polycarbonates, coatings, adhesives & specialties, and others. It is the inventor of polyurethane technology and market leader in polyurethane chemistry of crosslinking agents. It manufactures polyisocyanate (aliphatic and aromatic), isocyanurate, and polyols. Overall, the company has 30 operation sites in Europe, Asia, and the U.S.
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