Silane Modified Polymers Market Research Report- Global Forecast till 2023
Posted by Avinash on August 22nd, 2018
Silane Modified Polymers are predominantly used in isocyanate free and solvent free adhesive and sealant products. Silane Modified Polymers Market is expected to witness strong growth due to its significant usage in automotive as well as construction industry. Building & Construction accounted for the largest market share in 2016 and is predicted to retain its dominance over the forecast period due to the wide utilization of adhesives and sealants in construction activities. Product find application in door & window construction, sealing joints, and other interior elements of building & construction and thus raise the prominence of Silane Modified Polymer in construction sector. Furthermore, increasing vehicle manufacturing combined with demand for safety features is attributed to the growth of automotive market, which in turn is predicted to drive the demand for Silane Modified Polymers.
Geographically, Asia Pacific emerged as the largest market for Silane Modified Polymers followed by Europe and North America in 2016. The Asia Pacific region accounted for largest market share in 2016 and is expected to register highest CAGR owing to continuous growth of automotive and building & construction industries specifically in China, India, Japan, Vietnam, Thailand, Malaysia, and South Korea. Additionally, the growth of Silane Modified Polymer is largely driven by their utilization in onsite and civil application. Increasing commercial, institutional, and residential construction activities along with rising prominence of Silane Modified Polymer in construction industry is expected to drive the market growth over the forecast period. Furthermore, growing investment by major operating companies and shifting of Silane Modified Polymers manufacturing units as well as end use industries growth in this region is estimated to propel the Silane Modified Polymers regional market growth. North American market is expected to witness moderate growth due to increasing concern regarding the usage of isocyanate based product. Consumer has shifted their focus for isocyanate free adhesive which in turn has increased the consumption of Silane Modified Polymer in this region. Europe is estimated to witness steady growth on account of rising demand from automotive sector. Middle East & African market is expected to register strong growth on account of increasing construction activities specifically in Qatar, Turkey, the United Arab Emirates, and Saudi Arabia.
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Industry/ Innovation/ Related News:
April 2017- Evonik Industries AG has launched its product under the brand name Polymer ST and TEGOPAC. Company extended its product portfolio of silane modified polymers for construction and adhesive industries. With this product launch company aim is to develop its strong presence among the manufacturers of silane modified polymer globally.
January 2017- Wacker Company announced to launch two new silane terminated polymers named as GENIOSILXM 20 and GENIOSILXM25. They are predominantly used as a binder in the formulation of adhesive & sealants. With this product launch, the company extend its product portfolio for silane terminated polyethers under the brand name GENIOSIL. The company will be able to meet the growing need of silane modified polymers across the globe.
November 2015- Evonik Industries AG launched two new TEGOPAC reactive diluents. This product is used to decrease the viscosity of adhesive & sealant formulations to produce non-staining adhesives & sealants products. With this product launch, company strengthen its nutrition & care business segment and extend the silane modified polymer portfolio.
February 2015- Wacker Company announced to launch silane terminated polymers at the European Coatings Show. Product (GENIOSILXT) is widely used in the production of industrial adhesives and for sealing flat surfaces. This product will be utilized in automotive and mechanical engineering applications. With this product launch company will extend its product portfolio for silane modified polymers and will be able to meet the growing demand for silane modified polymer across the globe.
The Silane Modified Polymers report analyses the degree of competition among the major players as well as industry growth and market scenario. The Global Silane Modified Polymers Market comprises of numerous players operating in the market which include large scale and medium size manufacturers. The prominent market players operating in the Global Silane Modified Polymers Industry is focusing towards growth association specifically by Asia Pacific as medium scale and small scale producers are from this region specifically from China, South Korea, India, Malaysia, and Japan. Furthermore, the company is focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are expanding their production capacity of Silane Modified Polymers to meet the growing demand for Silane Modified Polymers.
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About the AuthorAvinash
Joined: November 22nd, 2017
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