Organic polysulfides are chemicals with an alkyl or aryl group in their composition. They contain properties of chemical and weather resistance, high flexibility, high dielectric strength, tensile strength, and impermeability. The global organic polysulfide market report by Market Research Future (MRFR) has been compiled by keeping in mind the various dynamics such as drivers, restraints, opportunities, and trends. A list of predictions and projections has been formulated for industry leaders for the period of 2018 to 2023 (forecast period).
Market Outlook
The global Organic Polysulfide Market is expected to thrive at 5% CAGR over the forecast period. Multiple applications of organic polysulfide in construction, automotive, aerospace, marine & piping, and others can drive the market demand. Polysulfide is used in adhesion, coating, and sealing of materials. Environmental regulations to lower emission rates and reduce component weight are expected to fuel market demand till 2023.
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The utilization of highly durable rubber in household and industrial applications is predicted to bode well for the market. Properties of faster sealing, higher impermeability, and resistance can induce demand for organic polysulfides. Investments of countries such as U.K., China, India, and others in construction of ports and ship building can favor the market heavily. The recyclable nature of these polymers over conventional polymers will bolster the global organic polysulfide market growth.
Development of polyphenyl polysulfide, a class of organic polysulfides, for application in lithium-sulfur (Li-S) batteries is expected to widen the scope of the market. Researchers at Hong Kong University of Science & Technology have developed this battery while maintaining its eco-friendliness and low cost.
Segmentation
The global organic polysulfide market is segmented on the basis of application and end use industry.
On the basis of applications the market is divided into vulcanization, adhesives, sealants, elastomer, coating, and others. Adhesives and sealants are likely to clock an impressive growth rate during the forecast period in the market.
Based on end use industries the global organic polysulfide market is segmented into marine & piping, building & construction, automotive, aerospace, chemicals, and others. Among them, organic polysulfide has maximum penetration in the building & construction industry.
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Regional Analysis
Geographically, the market is segmented into five key regions, namely Asia Pacific (APAC), Europe, North America, Latin America, and Middle East & Africa (MEA). APAC is the fastest growing region among them on account of the growing construction activities. The growth can be attributed to building & construction, automotive, and aerospace industries. Massive demand for cars and bikes from the middle class can fuel the market demand.
Europe is estimated to hold second place owing to demand from countries of the Netherlands, Switzerland, Germany, and the U.K. Constant developments in the aerospace sector is expected to elicit heavy demand for organic polysulfides. In addition, the environmental regulations proposed by the European Union can act as a great catalyst for the shift towards biodegradable polymers.
North America has assumed the third position in the market owing to the U.S. and Canada. Resurgence of the construction sector as well as interest in renovation of old and legacy buildings can boost the demand for organic polysulfides.
Competition Outlook
Kazan Synthetic Rubber Plant, Flamemaster Corporation, BASF, PPG Industries, Inc., Toray Fine Chemicals Co., Ltd, and others are prominent names in the global organic polysulfide market.
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