The silyl modified polymers market is poised to grow at a CAGR of ~4.6% during the forecast period (2019-2029) as demand for new and light-weight assembly materials in transportation and wind energy applications soars. The market is also witnessing a spurt in consumer preference for adhesive bonding over mechanical fasteners.
With silyl modified polymers offering features of both polyurethane and silicon, the market is receiving immense traction as end users are slowly moving away from conventional polyurethane and silicon based adhesive formulations. Key manufacturers are unlocking gains in market share on the back of silyl modified polymers’ water-proof, UV resistive and stain-free properties.
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Key Takeaways of Silyl Modified Polymers Market:
- Silane-terminated polyether (SPE) is projected to maintain its supremacy over Silane-terminated polyurethane (SPUR) accounting for three fourth of the market revenue by 2029.
- Building & construction will drive the demand for silyl modified polymers accounting for nearly half of the demand till 2029 and is set to create an absolute $ opportunity of US $ 107 Mn by the end of 2029
- Emerging markets like China, India, Mexico are forecast to account for more than one fourth of the market share by the end of 2029
- The presence of other alternatives such as acrylic, polyvinyl acetate, polyurethane, styrenic polymer, epoxy resins and others will hinder market growth
- East Asia is set to continue its dominance over other regions till 2029 whereas South Asia & Oceania are set to register a steady growth rate.
- Prominent stakeholders in silyl modified polymers market are Kaneka, Risun Polymer International Co. Ltd., PCC Group amongst others, accounting near 3/4th of the total market revenue.
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“Increasing use of dissimilar materials along with efficacy of silyl modified polymers based specialty adhesives is set to create substantial demand for silyl modified polymers over the forecast period, says the Fact.MR analyst.”
Prominent Stakeholders Eye Lucrative Returns through Product Innovation
Introduced in 1980 silyl modified polymers market has plenty of room for commercialization, in mature as well as in emerging markets. Key players in the market including Kaneka Corporation, Risun Polymer International Co., Ltd., PCC Group, Evonik Industries, Wacker Chemie AG. Number of capacity expansions, production launches and innovative products have been deployed by stakeholders in this market. For instance, Evonik and Wacker have launched range of products to strengthen their position and to tap immense opportunities in the silyl modified polymers market.
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