Adoption of Silyl Modified Polymers in Light-weight and Fuel-efficient Vehicles to Bolster Market Growth, Says Fact.MR
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 at a CAGR of ~4% during the assessment period (2019 – 2029).
Rockville, United States – January 10, 2020 /MarketersMedia/ —
Silyl modified polymers are large, chain molecules, which end with silyl groups. These materials are primarily used in the production of sealants and adhesives, which are free of isocyanates and solvents. In most cases, such sealant and adhesive products, provide superior adhesion on multiple substrate materials, in addition to properties of high UV resistance and are not affected by changes in temperature.
The global silyl modified polymers market is expected to grow at a moderate CAGR of ~ 4 per cent through the end of the forecast period in 2029. The growth can be attributed to the high levels use for the production of consumer goods and industrial end products. In addition, these trends are also supported by cost-effective and better synergy between polymer and silane materials.
Further, silyl modified polymers also provide end users with superior vibration dampening and noise reduction properties, which has made them a material of choice in transport and mechanical engineering applications, which has been gaining importance in recent years as auto manufacturers have been moving towards composites, plastics, and non-ferrous automotive components, in a bid for fuel efficiency.
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East Asia to Dominate Market with Sluggish Growth in US and Europe
Overall, the European and North American markets for silyl modified polymers have reached maturity, and do not have much opportunity to allow for growth in the industry, with activities expected to remain sluggish through the forecast period with growth rates hovering around 3 per cent.
On the other hand, countries in Oceania and South Asia will witness steady growth rates of ~ 6 per cent, which will result in a value of ~ USD 46 million through 2029. However, nations in East Asia are key contributors to the global silyl modified polymers market, and this dominance is expected to continue in the years ahead, as the region is expected to account for ~ 50 per cent of global demand.
In addition, most major manufacturers in the silyl modifiers polymers market are primarily focused on product innovation, the increased use of new formulations including epoxy and acrylics, with the aim of bolstering flexibility and toughness.
Major players are also seeking short term collaborations with research bodies around the world, with the aim of developing bio-based solutions, which overall allow producers to meet the growing global demand for silyl modified polymers.
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Product Launches are Key to Oligopolistic Market
Most of the applications for silyl modified polymers is set to be in the building and construction sector, owing to the high demand here for specialized sealants and adhesives. Further, silane-terminated polyether is expected to become a material of choice for handling cold weather fluctuations. On the other hand, sales figures will be restricted by easy availability of alternatives.
In addition, the oligopolistic nature of the silyl modified polymers market is mainly dominated by PCC Group, Kaneka Corporation, and the Risun Polymer International Co., which are tier 1 players of the industry. For all of these companies, the launch of new products is the key strategy to keep ahead of the competition, and is expected to continue for the foreseeable future.
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About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs and requirements of the entire value chain of the Chemical & Materials sector. A team of passionate analysts tracks the performance of the existing Chemicals & Materials as well as those that have just entered their product life cycle. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the Chemicals & Materials lucidly in 50+ countries for over a decade. The Chemicals & Materials team at Fact.MR has been assisting clients in their business expansion as well as a new venture through its analysis and recommendations.
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Organization: Fact.MR
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