Silyl Modified Polymers Market Key Growth Trends, Major Players And Forecast by Fact MR

Hybrid silyl modified polymers (SMPs) are the newest generation of adhesives and sealants, which in some way merge into polyurethane and silicone properties. These materials are rather quickly finding their place in construction, automotive, and electronic industries, due to superior bonding abilities, flexibility, and antagonism to environmental factors. SMPs are free from traditional harmful approaches to use isocyanates or solvents that were associated with health and environmental risks. The global silyl modified polymers market is forecasted to expand at a CAGR of ~4% through the assessment period from (2019 - 2029).

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Market Dynamics

The leading driver in the Silyl Modified Polymers market is growing demand in construction and automotive applications. In the construction segment, SMPs are used as a sealant for windows and doors as well as for facades because of their flexibility, UV resistance, and ability to cure on moisture. SMPs are used by the automobile sector for bonding and sealing different components, primarily vibration damping and sound insulation.

Stringent environmental regulations more so in Europe and North America are making the SMPs way in the market ahead of the traditional polyurethane-based products. These are free from hazardous chemicals such as isocyanates and phthalates thus environmentally friendly and for workers in production lines handling the materials.

With improvements in the adhesion strength, chemical resistance, and durability of SMPs due to advances in polymer technology, these materials have penetrated newer areas such as electronics, packaging, and renewable energy applications in which their weather resistant properties are crucially important.

Another critical challenge is that SMPs are much more expensive than conventional adhesives and sealants. While the long-term benefits offered by SMPs-extended durability and ecological friendliness-are enticing, a large upfront investment may put off price-sensitive customers, particularly in emerging markets.

Market Insight

Europe Market: Europe is the biggest market for Silyl Modified Polymers. SMP accounts for a considerable portion of it due to its stringent pollution norms and increasing demands from the construction and automotive industries. The region has strict VOC norms and thus makes SMP a preferred choice. The construction industry in Germany, France, and the UK has started using SMP-based sealants across applications.

Asia-Pacific is the fast-growing market: Given booming construction activities, rapid urbanization, and an ever-increasing automobile production in countries like China, India, and Japan, the Asia-Pacific region is also considered to experience the highest growth rate. The Asia-Pacific market growth is further facilitated by growing awareness about eco-friendly alternatives to traditional sealants.

Renewable Energy: The renewable energy sector, particularly the wind power, is a very significant market for SMPs. SMPs are used for the sealing and bonding of wind turbine parts: they are essential here because they are long-lasting and resistant to extreme weather.

Market Future Outlook

The mentioned factors are likely to drive the silyl modified polymers market. The global market for SMPs is anticipated to grow considerably over the next few years. Environmental concerns will boost the production of alternative green products, whereas advancements in polymer technology and industrial demand across regions will propel significant growth in the markets of construction, automotive, electronics, and renewable energy. Research and development efforts also are expected to introduce newer product innovations, thereby expanding the applications of SMPs.

Regional growth: Europe is going to dominate the market, while the Asia-Pacific region is expected to have a speedy growth. Emerging economies are going to be the key markets for SMPs because industrialization, urbanization, and infrastructure are increasingly skyrocketing.

Major Players

Some of the major players operating in the Silyl Modified Polymers market are:

Wacker Chemie AG is one of the leaders in manufacturing SMP-based adhesives and sealants and uses its products for different construction and industrial applications.
Kaneka Corporation is the world leader in specialty polymers, providing various SMP-based products with higher durability as well as more eco-friendly SMPs.
Momentive Performance Materials specializes in silicones and advanced materials, especially in SMPs for automotive, construction, and consumer goods industries.
Bostik (Arkema Group): Bostik is an adhesives and sealants manufacturer, which makes SMP-based products for industrial and consumer applications.
Dow Corning Corporation: Dow Corning is a subsidiary of Dow and specializes in silicone products, including SMPs. Dow Corning offers advanced bonding solutions for diverse industries.

Competitive Landscape

The Silyl Modified Polymers market is highly competitive, with various large and medium-sized companies competing for share. This particular market has taken various innovative steps in the areas of product development to be able to sustain themselves. Companies are focusing more on developing alternative products which will be sustainable and eco-friendly so that they can enter key industries such as construction, automotive, and electronics.

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At the European Coatings Show 2017, Wacker Chemie AG presented two new silane-terminated polymers with the names ENIOSIL XM 20 and GENIOSIL XM 25. Evonik has introduced a new series of silyl modified polymers, which includes TEGOPAC Bond 160, TEGOPAC Bond 170, TEGOPAC RD 1, and TEGOPAC RD as of April 2017. It will, therefore, make an important component of many roof sealants with excellent elastic recovery properties and high elasticity for many more applications.

In the market, different players strengthen their foothold in various regions with strategic partnerships, mergers, and acquisitions. In the same way, investment in R&D is critical as companies try to enhance the performance and broaden the application scope of SMP-based products.

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