MS Polymers Market Size, Share and Trends 2024 to 2034

MS Polymers Market Size and Forecast 2024 to 2034

The global MS polymers market size is worth around USD 3.38 billion in 2024 and is anticipated to reach around USD 6.42 billion by 2034, growing at a CAGR of 6.63% over the forecast period 2024 to 2034. The MS polymers market is driven by the product's flexibility in the construction and automotive industry.

MS Polymers Market Key Takeaways

• Asia Pacific dominated the market with the largest market share of 43% in 2023.
• North America is anticipated to witness the fastest growth in the market during the forecasted years.
• By product type, the hybrid MS polymer segment contributed the biggest share of the market in 2023.
• By product type, the pure MS polymer segment is anticipated to show rapid growth in the market during the forecast period.
• By application, the adhesives & sealants segment recorded the highest share of the market in 2023.
• By application, the coatings segment is projected to witness the fastest growth in the market during the forecast period.
• By end-user, the construction & infrastructure segment dominated the global market in 2023.
• By end-user, the automotive segment is projected to witness the fastest growth in the market during the forecast period.

Asia Pacific MS Polymers Market Size and Growth 2024 to 2034

The Asia Pacific MS polymers market size was exhibited at USD 1.36 billion in 2023 and is projected to be worth around USD 2.79 billion by 2034, poised to grow at a CAGR of 6.75% from 2024 to 2034.

Asia Pacific accounted for the largest share of the MS polymers market in 2023, owing to industrialization and urbanization leading to growth in the construction, automotive, and electronics industries. Urbanization growth and investment in facility development in this region, such as China, India, Japan, and South Korea, drive the market. Asia Pacific is a major market for manufacturers, and there has been a growing concern for high-performance materials.

• According to the International Energy Agency report, in 2023, 60% of new electric car registrations were in the People’s Republic of China. The number of new electric car registrations reached 8.1 million in 2023, increasing by 35% relative to 2022.

North America is anticipated to witness the fastest growth in the MS polymers market during the forecasted years because it can be widely applied to construction, automotive, and electronics. Growth in the innovation in polymer technology for eco-friendly products and growing infrastructure development. Strategic industry players and high investment in research and development help North American manufacturers continue to adapt to the current market improvements in the MS polymer applications. Besides, the region has also shown growth in innovation and performance improvement in manufacturing processes.

Market Overview

MS polymer, also known as modified silane polymer, is an adhesive and sealant technology that has features of silicone and polyurethane adhesive. It is a material that can be used in a vast number of applications and has strong bonding capability together with high flexibility and resistance to deterioration due to weather conditions. It is normally used in a solvent-free system with low VOC (volatile organic compound), and it has excellent UV and water resistance characteristics, making it suitable for various uses.

MS Polymers Market Growth Factors

• MS polymers are employed in construction, automotive, and marine engineering uses based on their flexibility and adhesion characteristics.
• Industrialisation and growth of the construction industries particularly in the developing domain generates a demand for sealing and bonding solutions.
• The lightweight structure of vehicles leads to the growing need for lightweight adhesives used in assembling vehicles.
• Growing ecological awareness is a spur to new developments and a spreading market.

Market Scope

Market Dynamics

Driver

Increasing usage of MS polymers in emerging economies

MS polymers have been widely used in industrialized countries, which drives the MS polymers market. This material is a major component in construction sealants, automotive adhesives, marine sealants, and woodworking adhesives. In the construction industry, MS polymers have better weathering and aging characteristics and are used for sealing movement joints in buildings and structures. Among them, there is the necessity of bonding different components and parts, as well as excellent adhesion and flexibility, which can significantly increase the longevity of a vehicle and is widely used in the automotive industry.

The high water resistance of MS polymers makes marine applications that offer dependable sealing for boats and other products. The demand for sustainable and high-performance materials increases due to industrialization.

• According to the U.S. Department of Energy. A 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement. Replacing cast iron and traditional steel components with lightweight materials such as polymer can directly reduce the weight of a vehicle's body and chassis by up to 50% and, therefore, reduce a vehicle's fuel consumption.

Restraint

The major limitation that affects the MS polymers market is the volatility of raw materials, especially polyurethane silicone. These fluctuations can also be established in high costs of production that result in high costs of the final product. Also, factors such as trade wars, import-export duties or tariffs, and supply-demand fluctuations add more distortion to the prices. These uncertainties can prove a difficult environment in which to establish a consistent pattern of spending and pricing for manufacturing, leading to probable constraints in market advancement and profitability among manufacturers.

Opportunity

Demands for green and sustainable products

The most significant feature of MS polymers is that molten MS polymers are generally free of solvents, which greatly minimizes the emission of hazardous substances during use. It does not contain formaldehyde, isocyanate, and solvent. It is friendly to the environment and the human body. This characteristic not only helps to promote a healthier working condition but also complies with the current trend towards lower VOC emissions around the globe.

With the rise of consumer awareness of sustainable and environmentally friendly products, industries are adopting green products, mostly in the construction, automobile, and marine industries, and MS polymers can be used in different sectors.

• In February 2024, Kaneka Corporation announced its KANEKA biodegradable polymer Green Planet. Green Planet is a 100% biomass-derived biodegradable polymer developed by Kaneka based on environmentally friendly solutions that do not depend on petroleum resources. It has excellent biodegradability in a wide range of environments and decomposes easily into CO2 and water, helping to address the environmental pollution problem caused by plastics.

Product Type Insights

The hybrid MS polymer segment contributed the biggest share of the MS polymers market in 2023. Hybrid MS polymer is versatile, high-performance, and easy to use. MS hybrid polymer combines the durability and stiffness of polyurethane with the insulation and flexibility of silicone and produces a unique adhesive product. Hybrid MS polymers do not include any materials that have toxic effects. They emit almost no VOCs during both their use. Hybrid MS polymers are, in many cases, the better choice for both sealing and bonding. Better adhesion, perfect processability, paintable, safe, environmentally friendly.

The pure MS polymer segment is anticipated to show rapid growth in the MS polymers market during the forecast period. MS polymer is chemically stable and flexible and has a high degree of adhesion and UV stability, making it ideal for various construction and automotive applications. On the other hand, segments in MS polymer may contain modified formulations with specific additives that donate versatile characteristics such as cure rate and strength.

Application Insights

The adhesives and sealants segment recorded the highest share of the MS polymers market in 2023. The demand for MS polymer hybrid adhesives and sealants is highly influenced by the growth of the building and construction industry due to the infrastructural developments globally. MS polymer adhesives are the new generation flexible adhesives and sealants that deliver a highly versatile bond across a wide range of applications. MS polymer sealant is a single-component building joint sealant that is formed by a high bond strength adhesive with higher elasticity and is chemically neutral.

• In June 2023, SABA launched Sabatack 950 MS polymer adhesive in single sausage. Its new Sabatack 950 boost adhesive is the world's first MS polymer to which a booster component is added in a simple sausage package.

The coatings segment is projected to witness the fastest growth in the MS polymers market during the forecast period. Polymer coatings that are specifically formed on the flat substrate as well as on irregular objects. Polymeric coatings are used for their adhesive qualities or in films for photography, anticorrosive protective type, and decorative (paints). They are also employed in the preparation of modified surfaces (paper coatings, hydrophobic coatings).

End-user Insights

The construction & infrastructure segment dominated the global MS polymers market in 2023. Increased construction activities, both residential and commercial, have boosted the demand for MS polymer-based construction materials. Application in various construction areas, including bonding and sealing of metal, glass, and plastic panels in curtain wall systems. Installation and sealing of windows, doors, and other fenestration elements. The advantage of using MS polymer sealants compared to other technologies is that this technology usually becomes the choice in sealing façades, floors, wall panels, and biogas tanks. Besides, MS polymers are also preferred for sealing transits to ensure they are fireproof and smoke-resistant and for making air ducts airtight.

• In July 2024, Mohm Chemical launched x’traseal MS-602 ms polymer sealant for the construction industry. x’traseal MS-602 is specially developed as a universal sealant for sealing joints in prefabricated buildings or concrete panels, expansion and connection joints in the building and construction industry, bonding or sealing of natural stones and aluminum sub-frames, sealing between window and door frames, and movement or perimeter joints around buildings.

The automotive segment is projected to witness the fastest growth in the market during the forecast period. The applications of MS polymers in the automotive industry include body panel bonding, glass bonding, and interior fixtures. As the automobile manufacturing industry looks for lightweight and long-lasting materials for car assembly, the uptake of MS Polymers is expected to increase. The rising automotive production, along with the growing preference for lightweight and electric vehicles (EVs), is likely to propel the growth of MS polymer hybrid adhesives. These products are used in floor sealing, component sealing, body sealing, chassis sealing, external sealing, and internal sealing. Furthermore, the products are also used in assembly, windscreens, side windows, sunroofs, windscreens, side panels, and trailers.

MS Polymers Market Companies

• Kaneka Corporation
• Agc Chemicals Americas Inc.
• Evonik Industries AG
• Momentive Performance Materials
• Wacker Chemical Corporation
• Covestro AG
• China Risun Group
• Arkema S.A.
• Sika AG
• Henkel AG & Co. KGaA
• H.B. Fuller Company
• Huntsman Corporation

Recent Developments

• In August 2022, Kaneka Corporation unveiled its plan to boost the production capabilities of silane-terminated polymers, also known as Kaneka MS Polymer, and its uses in adhesives, sealants, coatings, and other industrial applications.
• In June 2022, Henkel AG expanded its manufacturing facility for hot melt adhesives in Guadalupe, Nuevo Leon Mexico. To diverse industrial applications such as adhesives, sealants, and coatings.

Segments Covered in the Report

By Product Type

• Hybrid MS Polymer
• Pure MS Polymer

By Application

• Adhesives & Sealants
• Coatings

By End-user

• Construction & Infrastructure
• Automotive
• Electronics
• Industrial Facilities

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa