Polysulfide Resin Market By Product Type(Thiokols (Liquid Polysulfide Elastomers), Solid Polysulfide Elastomer), End Use(Automotive & Transportation, Building & Construction, Industrial Processing), & Region - Forecast 2021 - 2031
As per a survey conducted by FMI, the global polysulfide resin market is projected to reach US$ 157.2 million in 2021. In response to the increasing use of polysulfide resins such as liquid polysulfide elastomers across automotive, construction, and industrial processing industries, the market is anticipated to total US$ 229.76 million by the end of 2031.
The market registered a sluggish growth at a CAGR of 0.2% over the past half-decade. Sales decelerated in 2020 particularly due to suspension of industrial operations amid the COVID-19 outbreak. With the increasing demand for polysulfide resin in automotive vehicles, rubber processing, and aerospace sector, the market is expected to grow at 3.9% CAGR over the forecast period from 2021 to 2031.
Strong growth has been registered in China, Japan, and India owing to expansion of the building and construction industry following rapid urbanization and investment towards infrastructural development. According to a report by the Next City Organization, the government of China plans to build 10 cities equivalent to New York in the next decade.
As polysulfide resins provide outstanding weather resistance and high flexibility to the wall surfaces, they are extensively being used in the construction sector as window sealants in curtain wall joints and building joints. Spurred by these factors, the demand for polysulfide resin will considerably increase between 2021 and 2031.
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“Key players are increasingly investing in research and development (R&D) activities to introduce novel products, which will address rising complications associated with polysulfide resin adhesion. Besides this, some of the players are focusing on expanding their distribution channel by strengthening their e-commerce and digital footprint,” says the FMI analyst.
Key Takeaways from Polysulfide Resin Market Study
Key Drivers
Key Restraints
Competitive Landscape
Leading manufacturers operating in the global polysulfide resin market are Nouryon, Toray Fine Chemicals Co. Ltd., JSC Kazan Synthetic Rubber Plant, and Arkema, as per FMI.
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Key player are focusing of adopting organic strategies such as new product launch, production capacity expansion, new facility development, and others. Some of the companies are engaging into collaboration, joint ventures, and acquisition with small players to maintain their lead in the landscape. For instance,
Some of the leading players in the market profiled by FMI are:
More Valuable Insights on Polysulfide Resin Market
FMI in its new report, offers an unbiased analysis of the global polysulfide resin market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in polysulfide resin market with detailed segmentation:
By Product Type:
By End Use:
By Region:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Aug 25, 2022