Polysulfide Market is expected to generate an incremental $ opportunity of US$ 390.0 Mn between 2022 and 2030
Category: Chemicals & Materials Published Date : August 2022 ID: CVC-00176 Format: PDF Pages: 280
Polysulfide Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Polysulfide Market was worth US$ 1,156.4 Mn and is expected to grow at a CAGR of 3.7% over the forecast period. The market is expected to hit US$ 1,546.4 Mn by 2030 end.
Polysulfide is an important component of sealants, adhesives, and coatings, with uses in the automotive and transportation industries, industrial processing, specialty chemicals, building and construction, and protective coatings. Applications in various sectors offer attractive opportunities for the polysulfide market.
Polysulfide sealants are gaining popularity due to the numerous benefits they provide. Polysulfides have anti-corrosive characteristics, improved electrical insulation, and superior flowability. Furthermore, polysulfide sealants have excellent physical and dielectric strength and the capacity to perform efficiently at higher temperatures. Such qualities enable them to be employed in various industries and applications.
THE GROWTH IN THE AUTOMOTIVE AND CONSTRUCTION INDUSTRY BOOSTS THE MARKET
Petrochemical uses are growing in the building and construction, automotive, transportation, and industrial processing industries. While this has created attractive growth opportunities, the polysulfide market has also benefited from strong domestic demand for chemicals and petroleum-related goods.
With the growing popularity of contemporary wall construction and the increasing demand for sealing airplane fuel tanks and offshore structures, the usage of polysulfide-based sealants has grown quickly over the years.
THE MARINE INDUSTRY TO CREATE OPPORTUNITIES FOR MARKET
Polysulfide market demand from end-users, such as the piping and marine industries, is expected to provide significant growth opportunities to the global market during the forecast period. It is due to the solvent, weather-resistant, and other chemical properties of polysulfides, such as stress corrosion cracking, soil PH, and organic soil carbon.
The increase in maritime activities in developing countries with a growing demand for leisure activities is likely to enhance the demand for recreational vessels, offering possibilities for the polysulfide market over the forecast period.
VOLATILE ORGANIC EMISSIONS HAMPER THE MARKET GROWTH
Growing environmental concerns over sulfur compound volatile organic compound emissions are expected to hinder growth in the worldwide polysulfides market. Sulfur compounds endanger the environment by depleting ozone, causing soil sterility, and transporting polysulfides such as hydrogen polysulfide in groundwater and marine aerosols.
Market Segments Covered in Report
By Region and Country:
Why are the Automotive and transportation segments of Polysulfide projected to have the highest CAGR?
Over the projection year, automotive and transportation application drives continue to account for over 35.0% of the overall demand for the polysulfide market. Growth in the market is mostly attributable to polysulfide properties such as outstanding flexibility, high heat resistance, strong adhesion, and high durability, which are driving demand for Polysulfide in automotive and transportation at a faster rate than in other applications.
Why is the Thiokol segment expected to expand the fastest during the forecast period?
Throughout the forecast period, the Thiokol (liquid polysulfide elastomer) sector is predicted to account for more than half of the global market among product kinds. By the end of 2030, the industry is expected to account for approximately 60.0% of the market in terms of product type. Because of its product qualities (low moisture and gas permeability), it is suitable for various applications.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The polysulfide sealants industry is consolidated, with local or country-level competitors accounting for a sizable part of the market. Leading firms in the polysulfide sealants market are no strangers to acquisitions; many of their main strategies concentrate around boosting their position in certain areas by acquiring small players in those regions.
Some of the key developments that have taken place in the Polysulfide Market include:
A list of some of the key suppliers present in the market are:
Global Polysulfide Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|