TAGS: Sealants Polyurethane Adhesives
Business Market Insights (BSI) anticipates that the MS Polymer market crossed USD 74 billion mark in 2022 and is expected to hit USD 99 billion by 2030, recording a CAGR of 3.5% during the forecast period.
Demand MS polymers for Adhesive & Sealant Production
Increasing usage of MS polyurethane and MS polyether polymers as binders in sealants and adhesives for concrete reinforcement applications is expected to drive market growth. Technological advancement in adhesive bonding technologies is expected to increase the MS polymers' demand for producing hybrid adhesives globally. In addition, growing MS polymers' usage as gas fillers in the fabrication & repairing of trucks, buses, and other vehicles is anticipated to favor market growth.
Increasing key manufacturers' focus on enhancing the production capacity of silyl-terminated polymers is expected to support the materials' demand and offer newer market growth opportunities. For instance, in August 2022, Kaneka Corporation invested US$ 34.86 million to enhance the annual manufacturing capacity of its Silyl-terminated polyether (SMP) materials to 43,000 tonnes in Europe. In addition, increasing manufacturers' focus on developing less hazardous, green sealants and adhesives for building & construction applications is anticipated to create newer market avenues.
MS polymers are used in various industries such as building & construction, automotive & transportation, industrial assembly, and electronics. Rising MS polymer adhesives and sealants usage in increasing transport vehicles' safety, reliability, and efficiency is expected to drive the automotive & transportation segmental growth.
MS polymers efficiently absorb thermal contraction and expansion stress in complex electronic circuits. This aspect could favor global market growth. Increasing material usage in other industries such as building & construction and industrial assembling also supports its demand.
Recent Strategic Developments
The MS polymers market has undergone several significant developments, and a few of these have been mentioned below:
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In January 2020, Evonik Industries AG, a German specialty chemicals company, expanded the manufacturing capacity of various products such as addition-curing silicones and silyl-terminated polymers (SMP) used as binders in parquet adhesives for electronic, medical, and housing applications.
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In November 2020, Wacker Chemie AG, a German chemicals company, started constructing its newer production line of silane-terminated polymers in Nünchritz, Germany.
The MS polymers market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Kaneka Corporation, Wacker Chemie AG, AGC Chemicals Americas, Inc., Momentive Inc., and Evonik Industries AG are the prominent players operating in the market.
Source: Business Market Insights (BSI)