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Based on product type, the market is divided into Hybrid MS Polymers, Pure MS Polymers. Hybrid MS Polymers segment held the dominant business share of USD 3.8 billion in 2022. Hybrid MS Polymer demand can be driven by custom formulations designed to meet specific performance requirements. These formulations are used when standard MS Polymers don't fully meet the needs of a particular application. Industries looking for enhanced performance, such as improved adhesion, flexibility, or curing characteristics, may drive demand for hybrid MS Polymers. This can include sectors like aerospace and high-performance automotive applications.
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Based on end-use, the MS polymer market is categorized into Construction Sealants, Automotive Adhesives, Marine Sealants, Woodworking Adhesives, Industrial Sealants, Others. Construction Sealants for over 35% business share in 2022 and is projected to grow through 2032. MS Polymers are used in joint sealants and waterproofing applications in construction. The demand is driven by new construction projects, renovation work, and the need for durable, flexible sealants in structures. MS Polymer-based adhesives and sealants are used in roofing and flooring applications. The demand in this segment is influenced by the construction and real estate sectors.
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North America dominated the global MS Polymer market in 2022. The automotive industry in North America is continually seeking ways to reduce vehicle weight to improve fuel efficiency. Within North America, the U.S. generated a revenue of over USD 1.6 billion in 2022. MS Polymers are used in automotive manufacturing to reduce weight and improve fuel efficiency. The automotive industry's focus on lightweighting and emissions reduction has driven the demand for these materials. MS Polymers are used in cabinet assembly and furniture bonding, catering to the needs of the woodworking and furniture manufacturing industry in North America.