Global Organic Polysulfide Market by Applications (Adhesives, Sealants, Coating, Elastomer, Vulcanization, and Others) by End Use Industry (Building & Construction, Automotive, Marine & Piping, Aerospace, Chemicals and Others) by Region till 2023
Organic polysulfide Market Overview:
Polysulfide is a chemical compound which contains chains of sulfur 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 impermeability, 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.
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Kazan Synthetic Rubber Plant (Russia), Toray Fine Chemicals Co., Ltd (Japan), PPG Industries, Inc. (U.S), Flamemaster Corporation (U.S.), and BASF SE(Germany) among others are some of the prominent players at the forefront of competition in the Global Organic polysulfide Market and are profiled in MRFR Analysis.
Industry/ Innovation/ Related News:
There are no significant development took place in this market during the recent time.
According to one of the leading automotive organisation, 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 2016. 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 impermeability, high resistance is expected to add into the demand of Organic Polysulfide over its counterparts. The changing lifestyle, rapid economic development, and increasing spending economic power of middle class population have led the greater adoption of commercial as well as consumer vehicles over the past five years. In addition to this, rapid industrialization fuelling the demand for commercial vehicles and aircrafts year on year. Asia Pacific held major share of the market in 2016 on account of the presence of leading end users such as automotive and building & construction industries.
Geographically, Asia Pacific is the fastest growing market in this market. The major contributors to the growth of this regional market are India, China, Japan, and Malaysia are an important markets in this region. Growth of this market is mainly attributed to the growing building & construction activities. Apart from that the automotive and aerospace industries in this region are on the rise due to an increasing demand of cars & bikes from large proportion of middle class people in this region.
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Organic polysulfide Market- Competitive Landscape:
The global organic polysulfide market 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. Taking into account these trends, the global organic polysulfide market is likely to witness considerable competition over the forecast period of 2017-2023.