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MS Polymer Adhesives Market Growth, Trends & Outlook 2024-2033
MS Polymer Adhesives Market Growth
According to The Business Research Company's, The ms polymer adhesives market size has grown strongly in recent years. It will grow from $4.8 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to environmental regulations and sustainability, replacing traditional solvent-based adhesives, increased construction activities, automotive industry demand, shifting consumer preferences..
The ms polymer adhesives market size is expected to see strong growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing market penetration and adoption, demand diversification in industrial applications, home improvement and diy segment growth, expanding applications in aerospace and marine sectors, rising consumer awareness and demand.. Major trends in the forecast period include demand for customization and innovation, increased consumer awareness and preference, versatility and multi-functionality, shift from solvent-based adhesives, diverse applications in construction..
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Market Drivers and Trends:
The increasing use of MS polymer adhesives in aerospace applications is expected to propel the growth of the market going forward. Due to the increase in demand for cutting-edge aircraft, which is mostly affected by the entry of new airlines and the expansion of established carriers, the commercial aerospace application has experienced significant demand in recent years. During the forecast period, the demand for MS polymer adhesives in this end-use sector segment is projected to be driven by an increase in air traffic, a desire for fuel-efficient aircraft, the replacement of outdated aircraft, and economic expansion in emerging markets. MS polymer adhesives provide a high-strength bonding in aerospace applications. For instance, according to the International Civil Aviation Organization (ICAO), a specialized agency of the United Nations, the global number of airline passengers is expected to reach 10.5 billion by the year 2040. Therefore, the use of MS polymer adhesives for aerospace applications is expected to drive the growth of the market.
The growing trend of non-hazardous, green, and sustainable adhesives and sealants in MS polymer adhesives is a key trend gaining popularity in the market. Key players in the MS polymer adhesives are focusing offering non-hazardous, green, and sustainable adhesives to gain a competitive edge in the market. For instance, in August 2022, Toyo-Morton, Ltd., a Japan-based laminating adhesive manufacturer, introduced the ECOAD range of polyurethane solvent-free laminating adhesive systems. It may be laminated without being diluted with an organic solvent, giving users a considerable environmental benefit.
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Major Key Players of the Market:
Henkel AG & Co. KGaA; Sika AG; 3M Company.; H.B. Fuller India Adhesives Private Limited; Wacker Chemie AG; Tremco Illbruck GmbH; Hermann Otto GmbH; Mapei SPA; Soudal Group; American Sealants Inc.; DL CHEMICALS INDIA PRIVATE LIMITED; Forgeway Limited; Kisling AG; Merz Benteli AG; Novachem Corporation Ltd.; Permabond LLC; Tech-Masters; Weicon GmbH & Co KG; Weiss Chemie Technik GmbH & Co KG; AGC Chemicals Americas Inc.; Arkema SA; Ashland Inc; Avery Dennison Corporation; The Boston Blacking Company; Chemence Medical Inc.; DAP Products Inc.; Dow Chemical Company; Evonik Industries AG; Franklin International; Hexion Specialty Chemicals Inc; Huntsman Corporation; Illinois Tool Works Inc.; ITW Polymers Sealants North America; The Jowat Group; KANEKA CORPORATION; LORD Corporation
MS Polymer Adhesives Market 2024 Key Insights:
• The ms polymer adhesives market will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Sky-High Solutions Ms Polymer Adhesives Ascend In Aerospace Applications Amidst Soaring Demand
• Green Horizon Rising Trend Of Sustainable Ms Polymer Adhesives Shapes Market Dynamics
• North America was the largest region in the MS polymer adhesives market in 2023
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