Liquid Saturated Polyester Resin Market Growth 2020: Revenue Calculation, Region
Posted by Mangesh Mahajan on March 2nd, 2020
Organic Polysulfide is a chemical compound which contains chains of sulphur atoms. It has two main classes namely organic polysulfide and anionic polysulfide. Organic Polysulfide primarily contains an alkyl or aryl group. The product exhibits important properties such as high flexibility, tensile strength, greater permeability, high chemical and weather resistance, and good dielectric strength. The major end use industries in which polysulfide has successfully penetrated are automotive, building & construction, aerospace, marine & piping, and others. The primary use of polysulfide in construction industry can be observed as a sealant, coating, and adhesive.
According to one of the leading automotive organisations, OICA (Organisation Internationale des Constructeurs d'Automobiles), the global automotive production reached 94.97 million units of vehicles. It is estimated to expand at 4.5% annual growth in 2019. There is a huge consumption of Organic Polysulfide in construction industry and it is estimated to increase at a huge growth rate due to the growing applications of the product in construction. The diverse industrial applications demand highly durable rubber in various pressure and load bearing operations and processes. This is likely to propel the growth of the market for vulcanization of natural rubber. The most important unique characteristic features of this product such as greater sealing ability, high permeability, high resistance is expected to add into the demand of Organic Polysulfide over its counterparts.
The Global Organic Polysulfide Market Growth is witnessing sluggish growth, yet there is positive outlook towards growth of this market during the years to follow. This is mainly due to the flourishing aerospace & defence, and building & construction industry, along with the significant growth of automotive industry. The market comprised of limited number tier 1 players, among them Toray Fine Chemicals Co., Ltd, BASF SE, PPG Industries, Inc. are holding significant share of the market. Majority of the key market participants have invested in the expansion of their production capacities to strengthen their market position during the recent times. However, there are no significant developments happened in this market on part of these key players. After addressing dynamic growth in automotive industry, construction industry, and aerospace & defence experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market due to vast untapped potential and lot of things to do. Considering these trends, the global organic polysulfide market is likely to witness considerable competition over the forecast period of 2019-2023.
The Global Organic Polysulfide Market is primarily segmented into applications, end use industries, and region. Based on application the market is divided into adhesives, sealants, coating, elastomer, vulcanization, and others. Among these application, organic polysulfide is majorly used as an adhesive in construction and automotive industry. Organic polysulfide as an adhesive hold the major share of its total demand. Steadily growing building & construction activities are responsible for greater use of organic polysulfide as an adhesive. It has been estimated that the organic polysulfide-based adhesive may grow at around 6% CAGR owing to its harmless nature. Characteristic features such as permeability, greater sealing ability and physical strength makes organic polysulfide an ideal product to be used as a sealant in many industrial applications. Apart from this, organic polysulfide is majorly used as a coating of chemical sensitive material and in marine based industry where the material is reactive to saltwater.
Based on end use industries, the global organic polysulfide market is segmented into building & construction, automotive, marine & piping, aerospace, chemicals and others. Organic polysulfide has been successfully penetrated all these key industries. Among all, the building & construction segment hold the major share of overall demand of organic polysulfide. Changing lifestyle of people mingled with an innovative architectural design in construction industry is projected to increase the demand of organic polysulfide to propel growth of the global organic polysulfide. Automotive industry is anticipated to reach new heights owing to the growth in production of light weight electric vehicle wherein organic polysulfide find their major application as an adhesive. Marine & piping industry is anticipated to witness high growth rate in coming years on account of competition among the coastal countries to explore more keep dominance over marine resources. This in turn is expected to boost the demand of organic polysulfide in coating of marine and other piping materials. Furthermore, countries all over the world are aspiring to reach celestial bodies, which is resulting in growth of aerospace market. Considering these developments in aerospace sector it is anticipated that the demand of organic polysulfide may head north during the forecast period.
Key players in the Global Organic Polysulfide Are
Geographically Global Organic Polysulfide Market is segmented into five key regions including, Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific the leader among them all in terms of the market size it is holding. The region accounts for 45% of total share of global organic polysulfide market due to the huge private investment in housing development. China, India, Japan, and Malaysia are the key contributors to the regional organic polysulfide market. Europe is the second most significant region in the global organic polysulfide market. Demand of the product in this region is majorly driven by growing marine industry along with the aerospace sector. The western European countries namely, U.K., Germany, France, Switzerland and Italy are responsible for maximum demand of organic polysulfide in this region owing to the presence of many end use industries. North America is another substantial market in the global organic polysulfide market. Aerospace sector of U.S. is steadily growing since the inception of space science by this country and is projected to grow even further as the enthusiasm of human being in space is steadily increasing.
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About the AuthorMangesh Mahajan
Joined: July 17th, 2019
Articles Posted: 502
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