Silane-modified Polymers Market Research Report: by Type (Polyurethane Modified Silane, Polyether Modified Silane), by Application (Building & Construction, Industrial Assembly, Transportation, Automotive, Others), and Region – Forecast to 2023
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Overview:
The Global Silane-Modified Polymers Market is set to touch USD 775.4 million by 2023, according to Market Research Future (MRFR). It was valued at USD 554.28 million in 2018, and its demand totaled 99.20 kilotons (KT) in the same year. Silane-Modified Polymers are substances being used in formulations of adhesives and sealants owing to their characteristics of low viscosity, excellent adhesion, and thermal resistance.
The booming construction sector on the back of various infrastructural projects globally is projected to be the biggest driver of the market. Rising demand for waterproof and fast-curing adhesives are likely to bolster market demand over the forecast period (2018-2023). Increasing applications in marine, appliances, and wind power is likely to see the Silane-Modified Polymers Market expanding in size at 6.95% CAGR over the forecast period. The market volume can reach 135.7 KT by 2023.
But the market growth can face bottlenecks in the form of environmental regulations. But development of isocyanate-free adhesives and sealants has created an opportunity for the market to scale till 2023.
Competitive Dashboard:
Prominent players operating in the Silane-Modified Polymers Market include Huntsman International LLC (U.S.), Bostik (U.S.), Sika AG (Switzerland), DowDuPont (U.S.), Henkel AG & Co., KGaA (Germany), Evonik Industries AG (Germany), 3M (U.S.), MAPEI SpA (Italy), Tonsan Adhesive, Inc. (China), and Wacker Chemie AG (Germany). New product developments to increase the product portfolio is the primary strategy of these players. Expansions have also been noticed as evident by the setup of a novel production facility by Wacker Chemie in Russia to cater to the demand for hybrid adhesives and sealants.
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Segmentation Analysis:
By Type, the Silane-Modified Polymers Market is segmented into polyurethane and polyether modified silane. The polyurethane segment accounted for a larger market share in 2017 and may touch USD 465 million by 2023. Rising demand for these polymers in industrial assembly and automotive can facilitate segment growth. It can accumulate close to 83 KT by 2023 at a CAGR of 6.68% during the assessment period.
By Application, it is segmented into automotive, transportation, building & construction, industrial assembly, and others. Building & construction segment accounted for 44.6% share of the Silane-Modified Polymers Market in 2017, followed by automotive, transportation, industrial assembly, and others. The segment was valued at USD 231 million in 2017 and touted to touch USD 358.9 million by 2023. Demand for modern designs and renovation projects in the residential sector can push segment growth till the end of the forecast period.
Regional Analysis:
By Region, the Silane-Modified Polymers Market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region accounted for 48.52% market share in 2017. It is anticipated to touch a value of USD 400.2 million by 2023 owing to robust industrialization in China, India, and Southeast Asian nations. Presence of various shipbuilding companies can augment the market demand considerably by 2023. The regional market volume is predicted to reach 72.2 KT by 2023, expanding at 7.59% CAGR over the forecast period.
Europe is anticipated to assume the second position in the Global Silane-Modified Polymers Market by 2023. Its valuation can touch 167.2 million in the same year by exhibiting a 5.31% CAGR during the assessment period. It can accumulate close to 28 KT by 2023 at 4.69% CAGR in the aforementioned forecast period. Development of new polymers with improved molecular structures and enhanced elastic recovery is bound to entice buyers in the construction sector.
North America can experience 5.17% CAGR on the Silane-Modified Polymers Market demand front, while the region can enjoy 5.74% CAGR, by revenue basis, during the forecast period. Canada may gain a larger share of the market by 2023, surpassing its counterpart, the U.S. Silane-Modified Polymers will assist automotive manufacturers in adhering to environmental regulations and making cars more accessible to consumers.
Latin America and MEA regions can contribute to the Global Silane-Modified Polymers Market owing to heavy infrastructural development.
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