Polysulfides are a class of chemical compounds in which there are chains of sulfur atoms. Polysulfides are compounds in the backbone that have thioether functions, which are sometimes called polythioethers or Thiokols (T). According to Future Market Insights (FMI), the global polysulfide market is projected to reach a market value of US$ 490.7 Mn by 2031, growing at a CAGR of 5.0% during the forecast period of 2021-2031.
Growth in the coming years is expected to be driven by rising polysulfide consumption in downstream markets, especially in building & construction, rubber processing and other specialty polymers. Automotive and aerospace are other chief end-use verticals that are expected to imbibe a healthy rate of polysulfide as structural components.
According to a report by the Institution of Civil Engineering, titled “Global Construction Perspectives and Oxford Economics,” the global construction market was forecast to reach nearly US$ 8 trillion by the end of 2030. Also construction activities within India, China, and the U.S. is poised to surge considerably, which will create considerable scope for expansion of the market.
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However, industrial processing is likely to account for lion’s share of the market. Recovery of industrial processing post COVID-19 crisis will enable the market gain momentum. FMI has predicted the industry to remain dominant through the forecast period, accounting for above 30% of the market in 2021.
Key Takeaways from Polysulfide Market Study
- Polysulfide market will continue exhibiting steady growth through the forecast period. It has been projected to showcase 4.6% Y-o-Y growth in 2021
- The U.S. will emerge as a highly lucrative market, accounting for 86.4% of overall share in North America
- The U.K. will remain a key market in Europe and globally, exhibiting 3.6% Y-o-Y growth in 2021
- Germany and France will continue exhibiting high demand, with Germany forecast to remain dominant in Europe through 2031
- Japan and South Korea will remain highly lucrative, however, China will continue dominating the market in East Asia
“Though the Pandemic has had a negative impact on multitude of sectors including construction and manufacturing with associated industries through the majority of financial quarters of 2020, rebound in growth of polysulfide market towards a healthy rate is expected in the next fiscal. The growth impetus will be based primarily on construction materials and ancillaries in automotive and aerospace industries. The regional market growth will be dependent on the basis of performance index of the respective industries. U.S. and South East Asia are expected to provide sound growth opportunities from all end use industries, with remaining regions deemed to observe a moderate growth rate,” said a lead analyst at FMI.
Who is winning?
Key manufacturers in the polysulfide market such as Nouryon, Toray Fine Chemicals., JSC Kazan Synthetic Rubber Plant, Flamemaster Corporation, Akzo Nobel N.V., Ineos Group, Chevron Phillips Chemicals, Arkema and Robinson Brothers are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
To Know More about Polysulfide Market
A new market research report published by Future Market Insights (FMI) on the global Polysulfide market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period. The report analyses the Polysulfide market through three different segments- product type, end-use, and region. The Polysulfide report also offers detailed analysis of pricing analysis by different product type’s demand across various end-use industries, and patent analysis in the market.
Want to Know More?
Future Market Insights has published a market research report on the Polysulfide market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Polysulfide market through three different segments- product type, end use and region.
- Solid Polysulfide Elastomers
- Automotive & Transportation
- Industrial Processing & Application
- Building & Construction
- Protective Coatings
- Specialty Chemicals