TAGS: Polyurethane Adhesives
Fact.MR anticipates that the global Silyl Modified Polymers market is expected to reach USD 46 Mn at a CAGR of 4 percent during the forecast period.
Adoption of SMPs in Light-weight Vehicles
Efficacy of sustainable bonding solutions over a range of substrate materials will drive the demand of 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 Will Continue to Capture Large Chunk of Demand Pie
Building and construction segment dominated the silyl modified polymers market 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 are set to restrict the market growth over the long-term forecast.
South Asia & Oceania are expected to register a steady growth of ~6 percent and poised to create an absolute opportunity 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 percent 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