Chlorinated Polyolefin Adhesion Promoter Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Chlorinated Polyolefin Adhesion Promoter Industry Hit Worst due to Russia-Ukraine War Impact?
The global chlorinated polyolefin adhesion polymer market size is anticipated to witness remarkable growth in the forthcoming years. Chlorine polyolefins possess unique properties such as oil resistance, fire resistance, durability, strength, etc. The chlorinated polyolefin polymers can act as elastic elastomers and strong thermoplastics. These properties surge the product demand for application in adhesives, paint & coatings, plastics & composites, etc. Fortune Business Insights™ has presented this information in an upcoming report titled, “Chlorinated Polyolefin Adhesion Polymer Market, 2021-2028”.
As per the report, the market is gaining steep momentum due to several reasons. For instance, the increasing construction and renovation activities worldwide fuel the demand for paints & coatings, rubber, and plastic & composites. The rising construction activities across the commercial and residential sectors are expected to boost the market growth significantly.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Chlorinated Polyolefin Adhesion Promoter Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Chlorinated Polyolefin Adhesion Promoter Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
On the basis of type, the market bifurcates into chlorinated polypropylene and chorine polyethylene. On the basis of its application, the market segments into metals, rubber, paint & coatings, adhesives, plastic & composites, etc. Geographically, the market is classified into North America, Europe, Asia Pacific, and the Middle East & Africa.
- The report highlights crucial information on the key technological advancements and key market trends.
- The report analyzes the impact of the COVID-19 pandemic.
- The report provides information on the competitive landscape of the market.
- The report provides valuable information related to the political, social, economic, technological, and environmental aspects across different geographies.
Drivers & Restraints-
Expanding Automotive Industry to be Major Growth Driver
The chlorinated polyolefin adhesion polymers improve the adhesion strength of paints and coatings that is applied on automobile parts. The spiraling growth of the automotive industry due to high per capita income and increasing demand for personal vehicles is expected to bolster the global chlorinated polyolefin adhesion polymer market growth.
The chlorinated polyolefin adhesion polymers are used in the production of PVC pipes to reduce the risk of cracking and increasing the shine of the end-product. The spiraling product demand from the PVC pipes and cables industry is expected to drive market growth.
Additionally, escalating construction activities across the commercial and residential sectors are expected to significantly boost market growth.
However, the fluctuating crude oil prices and stringent government regulations are expected to hinder market growth.
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Asia Pacific to Consistently Dominate Global Market
Asia Pacific is likely to emerge dominant in the global chlorinated polyolefin adhesion polymer market share. The expanding automotive industry and the increasing infrastructural development activities are expected to promote growth in the forthcoming years. Additionally, the product innovations, robust research and development businesses, and escalating product demand from end-use sectors are anticipated to fuel market growth.
North America holds a huge market share and is anticipated to rank second in the global market. Huge investments in the automobile industry due to increased public awareness and high per capita income are likely to augment market growth.
Europe comprises a robust automotive base and a strongly growing automobile industry. Europe is anticipated to witness substantial growth in the forthcoming years due to escalating product demand for application in the automotive industry.
The Middle East & Africa is anticipated to witness considerable growth in the forthcoming years. The growth is attributable to the advancements in production facilities.
Latin America is likely to witness sluggish growth because of the lack of production bases.
Market Competition to Amplify with Product Launches & Expansions
The market experiences fierce competition due to the presence of major regional and global players. Major businesses operating in the market are adopting various organic growth strategies such as new product launches, technological advancements, etc., to enhance their market position and increase their revenues. They are simultaneously adopting inorganic growth strategies such as mergers, acquisitions, partnerships, collaborations, etc. For instance, Sika launched a new facility in Brazil in September 2016 for acoustic coating materials and adhesives.
- June 2020: Mica Corporation launched its first compostable adhesion promoter called MICA MC-634. The company aims to help the packaging industry to create sustainable food and beverage packaging products.
Key Players in the Global Chlorinated Polyolefin Adhesion Polymer Market are:
- Momentive Performance Materials Inc.
- Eastman Chemical Company
- Dow Corning Corporation
- BASF SE
- Arkema SA
- Evonik Industries AG
- ALTANA AG
- Air Products and Chemicals Inc.
- AkzoNobel NV
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