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.
Polysulfide are a class of chemical compounds in which there are chains of sulfur atoms. Polysulfides are compounds in the backbone that have thioether functions, which are sometimes called polythioethers or Thiokols (T). According to Future Market Insights (FMI), the global polysulfide market is projected to reach a market value of US$ 490.7 Mn by 2031, growing at a CAGR of 5.0% during the forecast period of 2021-2031.
According to a report by the Institution of Civil Engineering, titled “Global Construction Perspectives and Oxford Economics,” the global construction market was forecast to reach nearly US$ 8 trillion by the end of 2030. Also construction activities within India, China, and the U.S. is poised to surge considerably, which will create considerable scope for expansion of the market.
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.
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Opportunities in Polysulfide market
According to FMI, the demand for Polysulfide market from Other end-users of polysulfides such as piping and marine industries are projected to provide significant growth opportunities to the global market in the forecast period due to the solvent, weather-resistant and other chemical properties such as stress corrosion cracking, soil PH and organic soil carbon of polysulfides. This growth of marine activities in growing economies with a growing demand for recreational activities is expected to boost the demand for recreational vessels, henceforth creating opportunities for the polysulfide market in the forecast period.
Key Takeaways from Polysulfide Market Study
- Polysulfide market will continue exhibiting steady growth through the forecast period. It has been projected to showcase 4.6% Y-o-Y growth in 2021
- The U.S. will emerge as a highly lucrative market, accounting for 86.4% of overall share in North America
- The U.K. will remain a key market in Europe and globally, exhibiting 3.6% Y-o-Y growth in 2021
- Germany and France will continue exhibiting high demand, with Germany forecast to remain dominant in Europe through 2031
- Japan and South Korea will remain highly lucrative, however, China will continue dominating the market in East Asia
Who is winning?
Key manufacturers in the polysulfide market such as Nouryon, Toray Fine Chemicals., JSC Kazan Synthetic Rubber Plant, Flamemaster Corporation, Akzo Nobel N.V., Ineos Group, Chevron Phillips Chemicals, Arkema and Robinson Brothers are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
To Know More about Polysulfide Market
A new market research report published by Future Market Insights (FMI) on the global Polysulfide market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period. The report analyses the Polysulfide market through three different segments- product type, end-use, and region. The Polysulfide report also offers detailed analysis of pricing analysis by different product type’s demand across various end-use industries, and patent analysis in the market.
Competitive Landscape
The polysulfide market is a highly competitive market dominated by key players selling the products that are cost-competitive. Some of the key players are concentrating on building a market for particular demographics. Across the value chain, the industry has strong alliances. In order to meet the requirements of an expanding consumer base, companies operating in the polysulfide industry plan to strategically partner with end users and regional distributors. Polysulfide suppliers pursue strategies of acquisition and geographic expansion to create a foothold. For instance, GCP Applied Technologies Inc., announced its acquisition of R.I.W Limited, a prominent supplier for waterproofing products in 2018.
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Want to Know More?
Future Market Insights has published a market research report on the Polysulfide market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Polysulfide market through three different segments- product type, end use and region.
Key Segments
Product Type
- Thiokols
- Solid Polysulfide Elastomers
End Use
- Automotive & Transportation
- Industrial Processing & Application
- Building & Construction
- Protective Coatings
- Specialty Chemicals
- others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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