MS Polymer Adhesives Market is Projected to Surpass USD 7.6 Billion by 2030 at a CAGR of 6% from 2022 to 2030; Increased Demand for Hybrid Resins in Manufacturing Sealants and Adhesives of New Polymeric Materials to Foster Market Growth
SkyQuest, a reputed research firm, offers a comprehensive report on the MS polymer adhesives market offering interesting insights into the market. The report highlights the key insights of the market focusing on the drivers, restraints, challenges, and possible opportunities. It also discusses major trends and significant developments in the industry worldwide that will help shape the future of this market during the forecast period. The report further throws light on the nature of players in this industry and key initiatives taken by players to maintain a strong position in the market competition. The report aims at offering market data to businesses that plan to expand their demographical as well as profit-making bases during the forecast period.
Westford USA, March 10, 2023 (GLOBE NEWSWIRE) — Asia Pacific emerged as the key share holder for the MS polymer adhesives market due to the rise in economic development. The increase in use of MS polymers in multiple end-use industries such as building and construction, transportation and automotive, and others are also projected to promote the growth of this market during the forecast period. The rise in construction activities, coupled with the increasing demand for these adhesives in the emerging economies are likely to aid in market expansion during the forecast period.
SkyQuest’s global research indicates the increase in the number of construction activities have resulted in high demand for construction materials. Use of MS polymer adhesives in construction projects and DIY projects have augmented its demand in the recent past and are likely to continue so during the forecast period. Such factors are projected to help this market gain significant traction in the years that follow.
Browse in-depth TOC on “MS Polymer Adhesives Market”
Pages – 273
Tables – 61
Figures – 75
According to a recent study by SkyQuest, MS polymer adhesive market is projected to witness significant CAGR of 6% to generate revenue of USD 7.6 Billion by the end of 2030 from a value of USD 5.1 Billion generated in 2021.
The rise in use of MS polymer adhesives in the medical industry is anticipated to serve as a significant market trend. Rise in use of adhesives in medical devices that adheres to the patient’s skin or holds together various components of a medical device is expected to augment the demand for these adhesives from the medical sector, therefore creating lucrative growth opportunities for the overall market during the forecast period.
MS polymer adhesives are widely used for multiple functions such as waterproofing, door jams or window jambs, wall covers, and other such construction work. Polymer adhesive is a synthetic bonding agent consisting of strong, flexible and more impactful resistant polymers with a higher quality in comparison to other adhesives available in the market. These adhesives are widely used across electrical industries, electronics, construction, aviation, and aerospace industries for multiple purposes. The glue in these adhesives can be activated by wetness and also has the ability to adhere to multiple surfaces owing to their availability in multiple sizes, and shapes. MS polymer adhesives can be availed as per their variety such as methacrylate, cyanoacrylates, resins, epoxies, and urethanes, as per their properties and compatibility with different surfaces.
Prominent Players in MS Polymer Adhesives Market
- Soudal Group
- RPM International Inc.
- Hermann Otto GmbH
- Henkel Corporation
- Mapei S.P.A., Tremco Illbruck GmbH & Co.
- Chemie AG,
- Wacker Chemie AG
- 3M Company
- Arkema
- Sika AG
- Henkel AG
- BASF SE
- Avery Dennison
- Momentive
- Evonik Industries AG
- H.B. Fuller Company
- AGC Chemicals
- PPG Industries
- Ashland Inc.
- Kaneka
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MS Polymer Adhesives Segment to Gain Significant Impetus Attributing to Increase in Adoption of New Sealants and Adhesives in Multiple Industries
The MS polymer adhesives market is likely to witness notable growth in the forecast period set between 2022 and 2030. Growth of the market is attributable to the rise in number of construction activities, coupled with the rise in rate of automotive manufacturing and production activities are projected to augment the demand for such adhesives in the global market. As per the classification of the table of content based on SkyQuest research, the market is categorized on the basis of product, application, and regions. In terms of product, the market is bifurcated into sealants and adhesives. In 2021, the adhesives segment held the dominant share on account of their product efficiency and longevity. The reduced cost of production is further anticipated to help the adhesives section continue dominating the market in the forecast period.
Rise in Inclination towards Eco-friendly Products to Help Sealants Segment Rise Significantly
In terms of application, the market is split into construction and transportation. Among these, the sealants segment is anticipated to rise significantly and attract the largest revenue in the forecast period. Factors supporting the growth of the sealants segment include the growing inclination towards the use of environment-friendly products that will propel construction professionals to opt for MS polymer sealants for interior home and office designing and furnishings.
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Building and Construction Sector Holding Dominance over End-user Segment
As per classification by end-use industry, the global MS polymer adhesives market is categorized into consumer, automotive & transportation, building and construction, and others. Among these, the market is dominated by the building and construction sector owing to the increase in demand for building materials for construction and renovation activities across the world. Increase in number of construction activities stands as a key factor augmenting the growth of this segment.
Regionwise, the market for MS polymer adhesives has a high manufacturing base in Asia Pacific region. This is owing to the rapidly growing economy in countries such as India, China, Japan, and others. The rise in construction and building activities is also playing a vital role in augmenting the demand for these adhesives for use in multiple small and large applications across multiple end-user industries. The rise in disposable incomes of people and their willingness to spend on residential and non-residential infrastructural development is projected to help boost the regional growth of this market. Besides this, the increase in renovation activities for multiple medium and small businesses such as cafes, restaurants, and other commercial businesses are further expected to help boost the demand for these adhesives for renovation and new construction activities. Such factors are further expected to aid in the global market development.
SkyQuest offers a 360-degree overview of the market report on MS polymer adhesives. This includes drivers, restraints, challenges, and new growth opportunities. The market report also emphasizes on the impact of the novel Coronavirus pandemic on this market and the measures that has been adopted by market players during and post pandemic to ensure significant flow of revenue post the pandemic era. Additionally, the report discusses the table of segmentation and the possibilities of each segment to grow or outgrow other segments in the future market competition so as to analyze and predict the overall compound annual growth rates of this market revenues during the forecast period.
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Key Developments in MS Polymer Adhesives Market
A well-known name in the specialty materials market called Arkema, declared their adoption of the Permoseal Company in South Africa in relation to projects related to packing, building, do-it-yourself, woodworking, and others guaranteeing high use of the MS polymer. Permoseal company offers a variety of high-performance adhesive solutions and this merger strategy will help enhance the overall market value of Arkema in multiple end user industries such as construction, industrial, and DIY sectors across the Sub-Saharan and Southern Africa.
Henkel developed Loctite EA 9365FST a structutal adhesive that is compliant with REACH and used for airplane interiors. It is a new epoxy adhesive with two-parts for bonding and strengthening thermoset and thermoplastic substrates. They can also be used as a matrix resin on fiberglass for reinforcing the thin walls of thermoplastic components.
Sika introduced flooring adhesive called DriTac, specializing in wooden floor bonding in the US market. This launch is projected to expand brand’s presence in the North American market.
Key Questions Answered in MS Polymer Adhesives Market Report
Which is the key industry augmenting the growth of the global MS polymer adhesives market?
Who are the key players of the MS polymer adhesives market and what is the current trend in the market?
What are the future projections of the MS polymer market?
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