Polysulphides are chemical compounds that consist of chains of sulphur atoms. They are known for functional properties like high flexibility, tensile strength, heat insulation, weather resistance and impermeability. The polysulphides are used in building and construction, insulation, aerospace and polymer industries. The key market players are considering the rise in demand of polysulphide by the aerospace, construction and rubber industries to be the major driver for the global polysulphide market which is expected to project a positive CAGR through 2025.
What is the impact of rise in demand by industries on the global polysulphide market?
The recent years have witnessed a huge rise in the demand of organic polysulphides by various industries like business and construction, insulation, aerospace and rubber products. This increase in demand will spur the growth of the global polysulphide market in the forecasted period. With the advancements in technology, the major players in various industries are focussing more on innovation and development. This further increases the demand and helps to grow and expand the polysulphide market.
How is the rise in research and development techniques affecting the polysulphide market?
The increase in annual spending by different emerging industries encouraged the companies to innovate and create new products through research and development to provide efficient results to customers all over the world. This is another major cause boosting the growth and development of the global polysulphide market. Many countries like the U.S. and the UK have introduced reforms and subsidies to promote the industrial sector which in turn causes the expansion of the polysulphide market. The key market players in the organic polysulphide industry have realised the significance of R&D and are investing their time and money to create advanced and efficient products.
What are the key challenges faced by the global polysulphide market?
The industries operating in the polysulphide market have to undertake lots of paperwork and require several licenses to continue the industry. The government demands for compliance to various state and national laws, environmental laws, check for greenhouse emissions, storage, handling and removal of hazardous waste substances. These rules and regulations are very strict and the state holds the right to seize any factory which does not follow the regulations set by the government. This makes the entry of new players and the sustainability of conventional ones difficult in the market and is a major challenge to the global polysulphide market.
What is the current market landscape of the global polysulphide market?
The key market players are focussing on innovation and research and development (R&D) activities to create useful products and attain a competitive edge over the other major companies. The rise in demand by industries will be the major driving factor for the growth and development of the global polysulphide market in the forecasted period.
Some of the major companies in the polysulphide market include DOW Chemical, PPG Industries, JSC Kazan Synthetic Rubber Plan, Hodgson Sealants, Hernon Manufacturing, Flamemaster Corporation, Akzo Nobel, Clariant, Ineos Group and BASF. They are constantly innovating and creating new products to enrich the lives of people worldwide.
What is the market segmentation in terms of end use industry?
The organic polysulphides are demanded and utilised by several industries. However, the building and construction industry accounts for the largest share of distribution in the entire global polysulphide market owing to the high consumption of construction chemicals consisting of polysulphides like several adhesives, sealants and coatings. The market share for the building industry is projected to exhibit a growth in the following years due to increase in developmental activities in the emerging economies. The rubber and aerospace industries also hold substantial share in the polysulphide market after the building and construction industry.
What is the regional distribution of the global polysulphide market?
The global polysulphide market is dominated by the Asia-Pacific region by capturing over 37% of the market in 2019 in terms of revenue and products. The rapid rise in the industrial activities in the emerging economies owing to the increase in developmental activities has been the major cause for the growth of the global polysulphide market in the region. Countries like China, India and Malaysia are taking measures to promote and encourage the growth of the market in the following years. The U.S. has the second largest market for organic polysulphides followed by Europe and Africa. The industrial sector boost will continue to grow and expand the market in the forecasted period.
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The global polysulphide market is projected to exhibit a growth in the forecasted period owing to the rise in demand by industries and increase in research and development by different companies. The key market players are focussing on innovation and R&D to create latest products for customers worldwide and attain a competitive edge