Polysulfide Market By Product Type (Thiokols, Solid Polysulfide Elastomers), End Use (Automotive & Transportation, Industrial Processing & Application, Building & Construction, Protective Coatings, Specialty Chemicals) & Region - Forecast 2021-2031
FMI states in its recent study on the polysulfide that the market will record a CAGR of 5% between 2021-2031. Demand for polysulfide is anticipated to continue surging due to strong domestic demand for chemicals and petroleum-related products.
Growth in the coming years is expected to be driven by rising Polysulfide consumption in downstream markets, especially in building & construction, rubber processing and other specialty polymers. Automotive and aerospace are other chief end-use verticals that are expected to imbibe a healthy rate of polysulfide as structural components.
However, industrial processing is likely to account for lion’s share of the market. Recovery of industrial processing post COVID-19 crisis will enable the market gain momentum. FMI has predicted the industry to remain dominant through the forecast period, accounting for above 30% of the market in 2021.
“Market players in polysulfide are focusing their investments on the launch of new products and the diversification of their product portfolios for accommodating a wide range of applications.” says the FMI analyst.
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Polysulfide Market – Important Highlights
Polysulfide Market – Drivers
Polysulfide Market – Restraints
COVID-19 Impact on Polysulfide Market
The polysulfide market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic. Many nations imposed nationwide lockdown to curb the deadly virus, which caused disruptions in supply chain materials, shortage of human resources, therefore, affecting the whole of the industry, however, the market is likely to set on a path of regaining as various nation’s economies started to stabilize.
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Competitive Landscape
Some of the key players are focused on developing a market for particular demographics. .The polysulfide market players are leaning towards the acquisition and geographic expansion besides opting for strategic collaborations to attain a competitive edge. For example, GCP Applied Technologies Inc. declared its acquisition of R.I.W Limited, a prominent supplier for waterproofing products in 2018. Some of the leading companies operating in the market that are profiled by FMI are Nouryon, Toray Fine Chemicals., JSC Kazan Synthetic Rubber Plant, Flamemaster Corporation, Akzo Nobel N.V., Ineos Group, Chevron Phillips Chemicals.
Key Segments
Product Type
End Use
Region
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Aug 25, 2022