TAGS: Sealants Acrylic Adhesives Epoxy Adhesives
Fact.MR anticipates that the global Silyl Modified Polymers (SMPs) market is expected to grow at a CAGR of ~4% during the 2019 - 2029 forecast period.
Efficacy of sustainable bonding solutions over a range of substrate materials will drive the demand for silyl modified polymers (SMP) in complex industrial and consumer goods designs. Additionally, reduced noise and vibration damping in the transportation sector and mechanical engineering tasks will increase the uptake of silyl modifiers polymers.
Demand for silyl modified polymers is expected to rise in the automotive and transportation industries as manufacturers are switching to plastics, composites, and nonferrous materials to reduce weight and build fuel-efficient vehicles.
Driven by their cost-effectiveness and the synergy they offer between silane and polymer materials, the global silyl modified polymers market is expected to grow.
Building & Construction to Capture Largest Market
Building and construction segment dominated the silyl modified polymers market in 2018 and is set to continue its hegemony over the forecast period with heightened demand for high-performance construction adhesives and sealants.
Silane-terminated polyether will remain the preferred material over silane-terminated polyurethane during the forecast period as it is less susceptible to cold weather fluctuations.
However, the presence of alternative offerings within the same applications across building & construction is set to restrict the market growth over the long-term forecast.
Top Three Companies Account for Nearly 3/4th of the Total Market Revenue
The global silyl modified polymers market is oligopolistic in nature, in which Kaneka Corporation, Risun Polymer International Co., Ltd. and PCC Group, are the tier 1 players in the market. The silyl modified polymers industry has witnessed several new product launches, which remains to be the widely adopted growth strategy. For instance:
In January 2017, Wacker Chemie AG unveiled two new silane-terminated polymers named ENIOSIL XM 20 and GENIOSIL XM 25 at the European Coatings Show 2017.
In April 2017, Evonik launched a new range of silyl-modified polymers named TEGOPAC Bond 160, TEGOPAC Bond 170, TEGOPAC RD 1, and TEGOPAC RD. This new range of SM polymers will offer good UV stability making an important component of many roof sealants along with excellent elastic recovery properties and high elasticity for many more applications.
Moreover, key stakeholders in the silyl modified polymers market are focusing on product innovation, and the adoption of a new type of blend with acrylic and epoxy to improve its toughness and flexibility.
Prominent players are also entering into short-term partnerships with research institutes to offer bio-based solutions to their consumers. These strategies will help them adapt the dynamics and meet demand in the silyl modified polymers market during the forecast period.
Highest Growth in South Asia & Oceania
South Asia & Oceania are expected to register a steady growth of ~6% are poised to create an absolute $ opportunity of over US$ 46 Mn by the end of 2029.
Being mature markets, North America and Europe are set to remain sluggish and expected to grow at a CAGR of ~3-4% throughout the assessment period. East Asia led the market in 2018 and is likely to continue its supremacy over the forecast period, accounting for nearly half of the global demand.
Source: Fact.MR