Silane Modified Polymers (SMP) Adhesives and Sealants Market Size, Share, Growth, and Industry Analysis, By Type (One Component, Two Component), By Application (Building & Construction, Automotive & Transportation, General Industry, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Silane Modified Polymers (SMP) Adhesives and Sealants Market REPORT OVERVIEW

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global silane modified polymers (smp) adhesives and sealants market size was USD 963 million in 2022 and market is projected to touch 1654.8 Million By 2031, exhibiting a CAGR of 6.2% during the forecast period.

A sealant is a partially solid substance used to stop fluid leakage, whereas an adhesive comprises a mixture of chemicals that unites two surfaces into a single unit. Adhesives are ideal for applications involving holding and bonding because they have significant shear and tensile strengths. Sealants, on the contrary hand, are used to close gaps and stop substrates from moving relative to one another. In a variety of industries, including packaging made of paper, woodworking, footwear manufacture, building and construction, electric and electronics, automotive, and others, adhesives and sealants are created using comparable chemicals and processes.

The building and construction application segment commands the worldwide market in 2020. Due to factors including population growth and fast urbanization, the need for adhesives and sealants which are used to close joints and fill cracks has significantly increased in the building and construction industry. The building and construction sector of the worldwide adhesive and sealant industry may benefit from this.

COVID-19 Impact: Supply and Isolation Limitations to Deplete Market Advancement done

The new coronavirus is an unmatched worldwide pandemic that has affected over 180 nations and resulted in significant losses in both human life and the global economy. Due to the market's reliance on the aerospace, automotive, construction and building, and other industries, the COVID-19 pandemic has had a severe impact on adhesives and sealants. The NCI report claims that lockdowns and auto factory closures caused a 30% drop in sales for the automobile industry in March 2020 compared to March 2019.

The global supply chain for silane modified polymers (SMP) adhesives and sealants were hampered by the widening supply-demand mismatch brought on by the ongoing health crisis.  Additionally, a number of automakers reduced or shut down their business activities due to the potential of infection among the personnel. For hoods, grills, inside panels, and various other vehicle parts, adhesive and sealant are employed as the primary bonding material. This was temporarily slowed the development of the worldwide adhesives and sealants industry during the COVID-19 period.

Additionally, the demand for adhesive and sealant among the aircraft industries has decreased due to declining client money and limits on international travel. COVID-19 temporarily halted a number of projects involving the manufacture of aircraft, which reduced the demand for glue and sealant in the aviation and airplane sectors.

LATEST TRENDS 

"Heightened Public Awareness to Stimulate Market Development "

Contrarily, tighter restrictions and heightened public awareness have compelled major manufacturers to create environmentally friendly, sustainable, and non-hazardous adhesives and sealants. For instance, Henkel AG & Co. KGAA provides sustainable polyurethane adhesives for bonding applications in construction materials without the addition of formaldehyde. Furthermore, Sika AG, a top producer of building adhesives, is looking into sustainable possibilities for its adhesive solutions in order to keep up with the growing worldwide sustainability trends.

Additionally, an initiative in the procurement community called B2B Purchase in 2019 published an article claiming that buyers are aware of the importance of choosing environmentally friendly products. As a result, the silane modified polymers (SMP) adhesives and sealants market growth is anticipated to benefit from the development of non-hazardous and ecological adhesives and sealants in the near future.

Silane Modified Polymers (SMP) Adhesives and Sealants Market SEGMENTATION

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By Type

Based on type; the market is divided into one component, two component

One component is the leading part of the type segment.

By Application

Based on the application; the market is divided into building & construction, automotive &, transportation, general industry, others

Building & construction is the leading part of the application segment.

DRIVING FACTORS

"Application in General Industry to Aid Market Expansion "

In 2020, the adhesive sector represented 86.04% of the market share for adhesives and sealants. During the forecast period, the adhesive segment is expected to expand at a CAGR of 5.0%. The increase in requests for adhesives used in the production of tapes and labels, general repair, gift-wrapping and decorations, heavy-duty box sealing, and stationery-related activities is to blame for this.

Additionally, the packaging industry has expanded rapidly as a result of the rise in hygiene-related awareness. Adhesives are frequently used in the packaging of goods for consumers and businesses including building supplies, transportation and logistics, and various other goods for consumers and businesses, as well as drug delivery systems and other items. This reason accelerates the expansion of this market around the world.

"Upsurge in the Demand for Electrical and Electronic Gadgets to Foster Industry Progress "

The demand for a variety of electrical and electronic gadgets, including tablets, cell phones, laptops, and many others wherein adhesives and sealants are frequently utilized for bonding various components, has increased due to a rise in technological breakthroughs and research and development efforts. One of the main factors propelling the market for silane modified polymers (SMP) adhesives and sealants is this.

Adhesives and sealants are frequently used to patch gaps, holes, and seal joints in the building and construction industry, which has also seen significant expansion due to reasons including population growth, urbanization, and increased government investment. The silane modified polymers (SMP) adhesives and sealants market has grown as a result of the increase in demand of these products in the building and construction industry.

RESTRAINING FACTORS

"Volatile Organic Compound to Hinder Market Advancement "

However, the production of adhesives and sealants releases volatile organic compounds (VOC), which can lead to a number of health issues, including conjunctivitis, shortness of breath, exhaustion, vertigo, and other skin issues. As well as irritating the lungs, harming the liver, kidneys, and central nervous system, exposure to VOC in large amounts can also result in various chronic disorders. The demand for items containing VOCs has also decreased as a result of growing regulatory pressure and public knowledge of health risks and harmful environmental repercussions.

Additionally, a number of regulatory authorities, like the European Union and the US EPA, have established standards and guidelines to limit the use of hazardous or organic substances in the production of adhesives and sealants. These elements are expected to work in concert to reduce the popularity of adhesives and sealants across a range of end use industries, which would constrain silane modified polymers (SMP) adhesives and sealants market share expansion. 

Silane Modified Polymers (SMP) Adhesives and Sealants Market REGIONAL INSIGHTS

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"Low Start-Up Costs for Production Facilities in Asia Pacific to Support Market Advancement  "

The silane modified polymers (SMP) adhesives and sealants market in Asia Pacific, which accounted for 41.9% of the market share in 2020, is expected to rise at a compound annual growth rate of 5.6% during the forecast period.

This is ascribed to an upsurge in demand for silane modified polymers (SMP) adhesives and sealants in Asia Pacific's automotive, wrapping, electrical and electronics, building and construction, and other industries. Asia Pacific is also a desirable market for manufacturers worldwide because of low labor costs, low start-up costs for production facilities, and inexpensive prices for adhesives and sealants. These elements fuel the demand for silane modified polymers (SMP) adhesives and sealants in this area.

 KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Henkel (Germany)
• Sika AG (Switzerland)
• Arkema (Bostik) (Egypt)
• H.B. Fuller (U.S.)
• Dow (U.S.)
• 3M (U.S.)
• MAPEI S.p.A (Italy)
• Saint-Gobain (France)
• Tremco illbruck (Germany)
• SABA (U.S.)
• Fosroc, Inc. (Dubai)
• Merz + Benteli AG (Merbenit) (Switzeland)
• Novachem Corporation (U.S.)
• Guangzhou Baiyun Chemical (China)
• Chengdu Guibao (China)
• Hangzhou Zhijiang Advanced Material (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.