MS Polymer Adhesives Market 2023 – 2030 byEnd Use Industry (Building & Construction, Automotive & Transportation, Industrial Assembly),Type (Adhesives, Sealants) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Chemicals & Materials | Pages : 187 Pages | Published On : Jul 2023
The market size of MS polymer adhesives is projected to increase from USD 5.2 billion in 2023 to USD 7.5 billion by 2030, with a compound annual growth rate (CAGR) of 6.1% during the same period. Next-generation adhesives and sealants are being introduced with a wide range of solutions, customized to meet customer needs. Manufacturers are investing heavily in research and development to combine different adhesive bonding technologies. The resulting hybrid adhesives possess properties based on the resins used in their production. The development of high-performance hybrid adhesives and sealants, utilizing hybrid resins like MS polymer, plays a crucial role in driving the market.
Drivers: Unavailability of new polymeric materials
Adhesives and sealants rely on naturally occurring and synthetic polymeric materials as raw materials. Synthetic polymeric materials derived from petroleum feedstock can contribute to greenhouse gas emissions and harm the environment. To address these concerns, governments worldwide have implemented regulations to limit the production of high volatile organic compound (VOC) emitting materials. These regulations have constrained the production of new polymeric materials. Consequently, resin manufacturers are increasingly investing in research and development to blend polymers and create improved resins that offer superior performance compared to conventional resins. The blending of resins, such as MS polymer based on MS polyurethane and MS polyether, is tailored to meet the specific needs of different end-use industries. The increased utilization of such hybrid resins enhances the performance and functional properties of adhesives and sealants, thus driving the market.
Restraints: Limited acceptance from end users
The acceptance rate of MS polymer adhesives among end users remains relatively low. This lack of acceptance may stem from a lack of awareness about the availability of MS polymer adhesives or a preference for conventional adhesives. End users might not fully recognize the benefits offered by MS polymer adhesives, including improved flexibility/elongation, impact/thermal cycling resistance, peel strength, and long-term durability.
Opportunities: Non-hazardous, green, and sustainable adhesives & sealants
Strict regulations imposed by REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and GHS (Globally Harmonized System of Classification and Labelling of Chemicals) in European and US markets emphasize the elimination of banned or hazardous substances in the production of adhesives and sealants. Substances such as organotins, mercury, monomeric isocyanates, pyrrolidones, phthalates, and nonylphenols are being phased out. This creates opportunities for the growth of MS polymer adhesives, which offer eco-friendly alternatives in response to these regulations.
Challenges: Limited market opportunities in developed countries
Developed countries such as the US, Germany, UK, and Japan have highly advanced economies and well-established infrastructure in sectors like public services, commerce, and transportation. These countries have transitioned into post-industrial economies, with the service sector taking precedence over industrial activities. Due to their developed infrastructure, there is limited potential for new construction projects in these countries. As a result, the growth prospects for the MS polymer adhesives market are restricted. To overcome this challenge, manufacturers of MS polymer adhesives need to innovate and target emerging markets like healthcare, electronics, and food packaging. Thus, the limited market opportunities in developed countries pose a significant challenge for the expansion of the MS polymer adhesives market.
Use in bonding, renovation, and maintenance & repair of buildings to boost the demand
The building and construction industry is the largest consumer of MS polymer adhesives. These adhesives find extensive applications in flooring, tiling, waterproofing, carpet laying, wall coverings, insulation, roofing, civil operations, facade work, parquet installation, and more. Their versatility in bonding, renovation, and maintenance & repair activities for residential and commercial buildings, as well as civil engineering projects, contributes to their growing importance in the construction sector.
Asia Pacific to be fastest-growing MS polymer adhesives market
During the forecast period, Asia Pacific is expected to lead the global MS polymer adhesives market. The region is projected to experience the highest compound annual growth rate (CAGR) of 7.9% in terms of value between 2022 and 2027. This growth can be attributed to the expanding automotive and aerospace industries in China, increasing demand for electric vehicles, and a shift towards eco-friendly adhesives and sealants. Europe and North America hold the second and third positions, respectively, in the MS polymer adhesives market. Together, these regions accounted for nearly 50.5% of the global market share in 2021. In Europe, the MS polymer adhesives market is driven by emerging applications in biomedical and electronics sectors. Stable automobile production is expected to propel the MS polymer adhesives market in North America during the forecast period.
This research report categorizes the MS polymer adhesives market based on type, end -use industry, and region.
Based on type, the MS polymer adhesives market has been segmented as follows:
Based on end use industry, the MS polymer adhesives market has been segmented as follows:
Automotive & Transportation
Building & Construction
Based on the region, the MS polymer adhesives market has been segmented as follows:
Middle East & Africa
In June 2022, Henkel AG strengthened its production capabilities in Mexico by inaugurating a modern plant in Guadalupe, Nuevo Leon. The facility is dedicated to manufacturing pressure-sensitive and non-pressure-sensitive hot melt adhesives, primarily under the renowned Technomelt brand.
In February 2022, Arkema expanded its range of engineering adhesives through the planned acquisition of Shanghai Zhiguan Polymer Materials (PMP), a specialist in hot-melt adhesives for the consumer electronics market. This strategic move aligns with Arkema's objective to enhance its position in the profitable engineering adhesives industry and accelerate its growth in the rapidly expanding electronics sector, particularly in Asia.
In December 2021, Sika AG established a new technology center and manufacturing plant in Pune, India, to cater to the surging demand for high-quality adhesives and sealants in the Indian market. The facility incorporates advanced research and development laboratories and production capabilities.
In October 2021, Wacker Chemie AG acquired a 60% stake in SICO Performance Material Co., Ltd, a specialty silane manufacturer located in Jining, China. This acquisition strengthens Wacker Chemie's presence and expertise in the production of specialty silanes.
Table and Figures
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