TAGS: Sealants Sustainability / Natural Adhesives Polyurethane Adhesives
Markets and Markets (M&M) anticipates that the global market size of MS polymer adhesives is estimated to grow from USD 5.2 billion in 2021 to USD 7.5 billion by 2027, at a CAGR of 6.1% during the forecast period. A wide range of solutions is introduced as next-generation adhesives and sealants, with some degree of customization to meet the needs of the customers.
The manufacturers are investing heavily in the R&D of combining various adhesive bonding technologies. The hybrid adhesives developed with these combinations will have the properties of the resins used in manufacturing them. Therefore, the development of hybrid resins like MS polymer for manufacturing high-performance hybrid adhesives and sealants plays a significant role in driving the market.
Unavailability of New Polymeric Materials
Raw materials for adhesives and sealants are mainly naturally occurring and synthetic polymeric materials. Synthetic polymeric materials are obtained from petroleum feedstock. These materials can lead to GHG emissions and, thus, negatively affect the environment. Such concerns have encouraged governments worldwide to regulate the production of these materials. Many regulations limit the manufacturing of high VOC emitting materials. This has restricted the production of new polymeric materials.
Therefore, resin manufacturers are increasingly investing in R&D to blend polymers to achieve good performance and improved resins, which cannot be provided by conventional resins. The resins are blended according to the need of the end-use industries. The most common blends are MS polymer, based on MS polyurethane, and MS polyether. Increasing the use of such hybrid resins will help enhance the performance and functional properties of adhesives and sealants, thus driving the market.
The rate of acceptance of MS polymer adhesives is still on the lower side from the end users. This lower acceptance rate may be attributed to the lack of awareness about the availability of MS polymer adhesives or their preference to use conventional adhesives. This might be due to negligence of the benefits of MS polymer adhesives, such as improved flexibility/elongation, impact/thermal cycling resistance, peel strength, and long-term durability, which can be obtained by using MS polymer adhesives.
Non-Hazardous, Green, and Sustainable Adhesives & Sealants
REACH and GHS (Globally Harmonized System of Classification and Labelling of Chemicals) have strict regulations in the European and US markets. More stress is being laid on eliminating the use of banned or dangerous substances such as organotins, mercury, monomeric isocyanates, pyrrolidones, phthalates, and nonylphenols in the production of adhesives and sealants. This contributes to the growth of the MS polymer adhesives market. This, in turn, is expected to increase the use of eco-friendly products.
US, Germany, UK, and Japan have highly developed economies and advanced industrial activities. They also have a well-established infrastructure for the public, commercial, and transportation sectors. The service sector has become more important than the industrial sector in developed countries, making them post-industrial economies. The developed infrastructure in these countries signifies low prospects for new construction activities. Hence, there is limited scope for the growth of the MS polymer adhesives market in these countries. Manufacturers of MS polymer adhesives need to develop innovative products to capture newer markets, such as healthcare, electronics, and food packaging. Thus, limited market opportunities in developed countries act as a key challenge for the growth of the MS polymer adhesives market.
Highest Growth in Asia Pacific Region
Building & construction is the largest end use industry segment of the MS polymer adhesives market. MS polymer adhesives are used in a wide range of applications in the building & construction industry, such as flooring, tiling, waterproofing, carpet laying, wall coverings, insulation, roofing, civil operations, facade, parquet, and others. They are gaining importance in the construction industry as they are used in bonding, renovation, maintenance & repair of residential & commercial buildings and civil engineering applications.
Asia Pacific is projected to lead the global MS polymer adhesives market during the forecast period. The MS polymer adhesives market in the region is projected to grow at the highest CAGR of 7.9% between 2022 and 2027 in terms of value, owing to the growing automotive and aerospace industry in China, the increasing demand for electric vehicles, and the shifting focus toward eco-friendly adhesives and sealants. Europe and North America are the second- and third-largest markets for MS polymer adhesives.
These 2 regions collectively accounted for a share of nearly 50.5% of the global MS polymer adhesives market in 2021. The MS polymer adhesives market in Europe is driven by newer applications such as biomedical and electronics. The stable automobile production is projected to drive the MS polymer adhesives market in North America during the forecast period.
Source: Markets and Markets (M&M)