The coupling agent market is projected to grow from USD 516.6 million in 2018 to reach USD 614.1 million by 2023, at a CAGR of 3.5% from 2018 to 2023. Coupling agents are used in various applications such as rubber & plastics, fiber treatment, adhesives & sealants, and paints & coatings. The rapidly increasing demand for coupling agents in the rubber & plastics and fiber treatment applications and high growth of the automotive industry in APAC is expected to boost the coupling agent market.
Expansion was the key strategy adopted by the major players to increase their presence in the market between 2013 and 2018 This strategy accounted for a major share of all the development strategies adopted by the leading players during the same period. The key players operating in the coupling agent market include Wacker Chemie (Germany), Momentive Performance Materials (US), Dow-DuPont (US), Evonik (Germany), and Shin-Etsu Chemicals (Japan), and others.
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Wacker Chemie is one of the largest players in the coupling agent market. The company manufactures and provides polymer additives, surface coating resins, dispersible powders, polyvinyl acetates, and polyvinyl alcohol solutions. It operates through five major segments, namely, silicones, polysilicon, siltronic, polymers, and bio-solutions. The company produces and offers silane coupling agents through its silicones division. The company operates through various subsidiaries such as Wacker Chemicals Australia, Wacker Quimica do Brasil, Wacker Chemie Hungary, Wacker Metroark Chemicals India, and Wacker Chemicals Germany. The company has a presence in Europe, the Americas, and Asia. In 2015, Wacker Chemie, a global player in the coupling agent market, launched several new products under the brand name of SILRES WH, SILRES BS, and GENIOSIL XT. In the same year, the company opened a new logistics center in Jingsu province of China with an approximate investment of USD 8 million.
Evonik is also one of the major manufacturers of specialty chemical products. It operates in four major business segments which include nutrition & care, resource efficiency, performance materials, and services. The company manufactures and sells silane coupling agents through the resource efficiency business segment. Its resource efficiency segment comprises inorganic materials and coatings, and additives business units. The company’s inorganic materials and coatings segment manufacture silane coupling agents and serve various industries such as electronics, construction, tire, and fiber optics. The company sells its coupling agent products under the brand, Dynasylan. In June 2018, Evonik expanded its production capacity of precipitated silica in Turkey. This will increase its capacity by 40,000 metric tons from 2020. The expansion is to cater to the increasing demand for green tires and the raw materials required for manufacturing tires.
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