Extruded MS Polymer Market in APAC for construction to hit $58 Mn by 2025
Published Date: November 7, 2019 Authors: Kunal Ahuja, Amit Rawat
APAC Extruded MS Polymer Market size for construction application is set to surpass USD 58 million by 2025; according to a new research report by Global Market Insights, Inc.
The MS polymer finds widespread applications in homeware, such as tumblers, water tanks, & water filters, and in optical & display applications. The extruded sheets of MS polymers are majorly used in the architectural and construction sector for interior partition and signage applications. The applications of MS polymer have evolved owing to continuous innovations of available raw materials, improved formulations, and rapid technological advancements in the industry.
Shifting consumer focus toward home décor and increasing remodeling projects due to the rising real estate prices will promulgate the overall industry scenario over the forecast timeframe. Availability of the product in various grades categorized corresponding to their level of rigidity and clarity fueling product sales. Low energy consumption property of the polymer compared with other thermoplastics, such as polycarbonates, will further provide a positive business outlook for the industry participants.
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Key industry players are enhancing production as well as distribution capabilities
The rising demand for specialty copolymers has led to an increase in the production capacity by major producers in Asia. The industry players in the region are expected to enhance their profit margin by forming long term partnership with key distributors. Targeted processes and collaboration with leading users in each market segment has led to the industry-driven developments. This has facilitated improved or new products and processes, which has further proliferated target system solutions and collaborative innovations.
Rising infrastructural and construction activities will support interior partition application scope
MS polymers are gaining traction in construction industry as the material is being extensively used to produce extruded sheets for interior partition application. Decorative partition walls are used to make a home office for two or more people or to separate a dining area from the living room or to create different seating areas in the same room. The polymer provides scope for designing sheets in wide variety of colors and textures to meet designers and interior decorators aesthetic requirements. Additionally, the integration of innovative system of modular vertical and horizontal segment will further drive the overall market growth.
Browse key industry insights spread across 140 pages with 96 market data tables and 14 figures & charts from the report, “Asia Pacific Extruded MS Polymer Market Size For Construction Applications By End-Use (Signage, Interior Partition), Country Trends (China, India, Japan, South Korea, Taiwan, Indonesia, Thailand, Singapore, Malaysia, Vietnam) Industry Analysis Report, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Growing digitalization will spur product demand for signage application
Increasing infrastructural developments in Thailand, India, Malaysia, Indonesia and Singapore are likely to drive the application scope of MS polymer across signage industry over the forecast period. Rising R & D in display products, growing adoption of digital signage products in commercial vertical along with rising demand for 8K and 4K displays are key factors supporting the market advancement. Also, growing digitalization will further support the industry scope as MS polymer owing to excellent clarity and transparency will find product scope in digital signage industry.
Positive growth trajectory of electronic sector of Singapore will support overall market growth
Singapore extruded MS polymer market share for construction application is poised to grow at CAGR over 7% from 2019 to 2025. The manufacturing sector of Singapore contributed over 20% to the GDP in which a large amount of sector is engaged with electronics & semiconductors production. High quality polymers formulation increases electrical conductivity, provide effective insulation and are an emerging technology towards the development of long-lasting electronic goods.
As a global trading and distribution hub for electronics and semiconductors, Singapore exported more than USD 80 billion worth of semiconductors and electronic integrated circuits in 2016. This accounted for around 10% of global electronics and semiconductors exports. New technology products such as 3D printers, smart phones and Ultra-High Definition televisions are on high demand which in turn has given an upfront to the polymer industry in the country.
Key players operating in the market share are Supreme Petrochem Ltd., INEOS Styrolution Group GmbH, Chi Mei Corporation, LG Chem, Denka Company Limited, and Deltech Polymers Corporation. The companies operating in the APAC extruded MS polymer market for construction application are focusing on enhancing production capabilities, improving formulation techniques, merger & acquisitions, strategic partnerships & collaborations and supply chain agreements to gain significant share.
For instance, in October 2018, Denka acquired the MMA business from Nippon Steel & Sumikin Chemical. To strengthen its position in the MS polymers market, the company is focusing on acquiring the businesses of companies with an established presence.