𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗖𝗮𝘁𝗲𝗴𝗼𝗿𝘆 𝘁𝗼 𝗴𝗿𝗼𝘄 𝘁𝗵𝗲 𝗙𝗮𝘀𝘁𝗲𝘀𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗖𝗿𝗼𝘀𝘀𝗹𝗶𝗻𝗸𝗶𝗻𝗴 𝗔𝗴𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁

The size of the crosslinking agent market was USD 10,207.3 million in 2023, and it will power at a compound annual growth rate of 7.4%, to touch a total value of USD 16,491.4 million by 2030.

This has a lot to do with the growing requirement for more than a few coatings and a hiked prominence on the high performance of crosslinking agents.

The mounting focal point on justifiability and environmentally friendly solutions, heading to the development of original cross-linking agents providing diminishing environmental impact.

Furthermore, the growth in technology and research are authorizing the making of the latest cross-linking agents with improved efficiency, compatibility, and versatility with distinguished systems of polymer, opening further avenues for the enlargement of the market.

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On the basis of the chemistry segment, the amino category led the industry, with a share of about 40%. This is for the reason that compounds of amino, for example amino silanes and amino resins, offer excellent competences of crosslinking and compatibility with various polymers.

Amino forms robust and stable bonds, resulting in improved thermal stability and adhesion and mechanical properties. These amino compounds discovered substantial use in more than a few industries for example coatings, adhesives, and sealants, where their benefits of versatility and performance are highly valued.

On the basis of the application segment, the industrial coating category will grow the fastest at a rate of 8% in the crosslinking agent market in the future. This has a lot to do with its high use in a various industry, for example, electronics, construction, automotive, and packaging.

These crosslinking agents advance the durability and performance of the numerous materials in these industries and also provide more than a few benefits, for example resistance to chemical and weathering, upgraded mechanical properties, and improved lifecycle of products.

On the basis of region, APAC will grow the fastest in the future. This has a lot to do with the robust growth in the constructive, industrial, electronics, packing, manufacturing, and packing sectors in APAC countries like Japan, China and India, which will create substantial requirement for crosslinking agents.

Also, fast urbanization, expansion in infra, and growing disposable income of people in APAC will contribute to the growing requirement for high-performance materials relying on cross-linking agents.

China is the leader of the regional market. This is owing to the nation’s financial growth, as a result of the mounting mining, manufacturing, textile, automotive, electrical & electronics, medical, pharma, construction, and further industries.

It is because of the increasing requirement for many coatings and the improved performance of many coatings and an increased importance of crosslinking agents.

𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐆𝐫𝐢𝐝 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

Market Overview

The Saudi Arabian smart grid network market will generate an estimated revenue of USD 1,396.0 million in 2024, which is expected to witness a CAGR of 18.4% during 2024-2030, to reach USD 3,850.2 million by 2030.

The electricity distribution sector in many regions has been digitalised; with the help of the smart grid technology, it becomes possible to rapidly control and stabilise electricity consumption and determine regions where electricity is consumed in excessive amounts. This results in reducing energy conservation and the costs that are associated with it.

Smart meters in the smart grid network have greatly enabled consumers to recharge their smart meters using electronic methods, and to use utilities appropriately. This leads to the eradication of the printed electricity bills and overall carbon emission control as T&D efficiency reduces energy wastage.

There are existing rules and mandates initiated by Saudi Arabian authorities to ensure utility companies promote smart grids that regulates energy consumption. These rules and mandates have made people shift from automatically installed, older smart residential, industrial and commercial grids. Huge investment is being made in smart cities and integrated residential complexes in KSA where smart grids are being incorporated that is driving the market in the kingdom.

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Key Insights

 Software category holds a 55% share in 2024, highlighting its dominance in the market.

 Advanced Metering Infrastructure (AMI) is the largest sub-category within software, playing a pivotal role in smart grid networks.

 AMI comprises communication networks, data management systems, and smart meters, ensuring bi-directional energy flow and integration of DERs.

 This integration allows utility companies to optimize renewable energy transmission and measure energy usage more accurately.
 Hardware category is experiencing significant growth, with smart meters being the fastest-growing sub-category.

 Smart meters provide detailed power consumption insights for both consumers and utilities, enhancing energy efficiency.

 Distribution category, with a 45% share in 2024, is the fastest-growing category, advancing at a CAGR of 18.7% during 2024–2030.

 Distribution systems include feeders, substations, and transformers, with smart grid integration bringing intelligence to these processes.

 Power plants generate high voltages, and low-voltage distribution lines help reduce energy losses and deliver power more effectively to customers.

 Wireless category is the fastest-growing communication technology, advancing at a CAGR of 18.8% during 2024–2030.

 Wireless technology, being advanced and cost-effective, provides safe, dependable, and low-latency bi-directional data transfer between control centers and intelligent electronic devices.

 It offers higher bandwidth and secure data transmission, making it ideal for modern substations.

 Al-Riyadh is the fastest-growing province, advancing at a CAGR of 18.9% during 2024–2030, due to rapid construction of commercial and residential buildings and subsequent smart meter deployment.

 Al-Jouf, with a large solar power plant, is the largest province in terms of smart grid network usage, utilizing the network extensively for power distribution.

 In December 2023, ENOWA announced the implementation of a high-voltage smart grid for NEOM, marking a significant development in the region.

 During the Saudi Arabia Smart Grid Conference (SASG 2023) in December, CHINT showcased advanced microgrid solutions tailored for large industrial parks, highlighting ongoing advancements in smart grid technology.

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