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MS Polymers Global Market Size, Share, Emerging Trends, Key Growth, Challenges and Forecast By 2033
MS Polymers Global Market
According to The Business Research Company's, The ms polymers market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to demand for sustainable adhesives, advancements in polymer chemistry, stringent environmental regulations, construction industry growth, flexible and durable bonding solutions.
The ms polymers market size is expected to see strongly grown in the next few years. It will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to consumer preference for low odor products, growth in renewable energy projects, focus on circular economy practices, increasing adoption in healthcare, global efforts for climate change mitigation.. Major trends in the forecast period include advancements in formulations, hybrid sealants and adhesives, customization for specific industries, digitalization in manufacturing processes, aftermarket repair and maintenance.
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Market Drivers and Trends:
Increasing adoption of green building standards is expected to propel the growth of the MS polymers market going forward. The green building standard is a model code that specifies minimum conditions for improving the environmental and health performance of buildings, sites, and other structures. MS polymers are commonly used in various construction applications, including roofing, flooring, window and door installation, and facade sealing, due to their low VOC emissions, lack of isocyanides, and recyclability. For instance, in October 2022, according to an article published by the US Green Building Council (USGBC), a US-based non-profit organization that promotes sustainability in building design, construction, and operation, over 36,835 projects covering 4.63 billion gross square feet earned LEED (Leadership in Energy and Environmental Design) certification between 2017 and 2021. Further, in the first three quarters of 2022, over 5,000 additional projects were certified where the highest concentration of LEED projects certified is in the United States and Canada (74%), followed by East Asia (9%) and Europe (6%). Therefore, increasing adoption of green building standards is driving the MS polymer market.
Biodegradable polymer technology is a key trend gaining popularity in the MS polymer market. Major companies operating in the MS polymer market are developing innovative and sustainable technologies to strengthen their position in the market. For instance, in February 2023, Kaneka Corporation, a Japan-based chemical manufacturing company, launched Biodegradable Polymer Green Planet, a plant-derived biodegradable polymer developed using polymer synthesis technology with microorganisms using CO2 as a direct raw material. By creating microorganisms that make biodegradable polymers from CO2, the technology aims to realize recycling-oriented bio manufacturing technology that is independent of fossil resources.
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Major Key Players of the Market:
3M Company; Arkema S.A.; Evonik Industries AG; H.B. Fuller Company; Henkel AG & Co. KGaA; Kaneka Corporation; Momentive Inc.; Sika AG; Wacker Chemie AG; Tremco Illbruck GmbH & Co. Kg; Novachem Corporation; MAPEI S.P.A; Biesterfeld AG; Sames Kremlin; AGC Chemicals Inc.; Dow Inc.; BASF SE; Huntsman Corporation; Ashland Global Holdings Inc.; Avery Dennison Corporation; Chemence Ltd.; Chemique Adhesives & Sealants Ltd.; Dymax Corporation; Franklin International; Hexion Inc.; Jowat SE; Lord Corporation; Permabond LLC; Soudal NV; Showa Denko K.K.
MS Polymers Market 2024 Key Insights:
• The ms polymers market size will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Rising Green Building Standards Propel Growth In Ms Polymers Market
• Biodegradable Polymer Technology Surges In Ms Polymer Market
• Asia-Pacific was the largest region in the MS polymers market in 2023, and is expected to be the fastest-growing region in the global MS polymer market during the forecast period
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