Home > Pressrelease > Hybrid Polymer Market size to surpass USD 12 billion by 2030
Hybrid Polymer Market size to surpass USD 12 billion by 2030
- Published Date: September 20, 2022
Hybrid Polymer Market size is anticipated to register a revenue of USD 12 billion by 2030, as per a new research report announced by Global Market Insights Inc.
The report identifies the growing consumption of cleaning and sanitization solutions as a prominent factor proliferating the hybrid polymer industry expansion. This polymer has an extensive application scope in smart cleaning solutions, including household degreasers and industrial cleaners. Over the years, PAA (polyacrylic acid)-based polymers have been commonly used in water treatment and cleaning industries to address issues associated with hardness ions in water. However, this compound is produced from hydrocarbon sources and offers limited or no biodegradation.
Hybrid polymers are emerging as a sustainable alternative, combining the benefits of natural and synthetic raw materials to develop macromolecules that offer similar handling and performance as PAA. Likewise, hybrid polymer materials have a high renewable carbon index, a reduced lifecycle impact, and are readily biodegradable. These sustainable product attributes are therefore expected to assert a positive influence on industry expansion. However, implementation of strict regulations regarding occupational exposure to hybrid polymers may hinder industry progress.
Favorable adhesion attributes to drive hybrid polymer coating demand
Based on the product, the report categorizes the hybrid polymer market into cleaning solutions, electrode material, sealant & adhesive, coating, concrete additive, and others. The coating segment is slated to depict a CAGR of more than 5% through 2030, driven by the growing acceptance of hybrid polymer coatings in automotive, construction, and packaging, among other applications. Unique features including excellent adhesion, outdoor resistance, and waterproofing effects for use in metals, plastics, woods, and even previously painted substrates are further driving segmental expansion.
Browse key industry insights spread across 350 pages with 476 market data tables & 27 figures & charts from the report, “Hybrid Polymer Market Size By Product (Coating, Sealant & Adhesive, Concrete Additive, Electrode Material, Cleaning Solutions), Application (Construction, Automotive & Transportation, Electrical & Electronic, Oil & Gas, Water Treatment), Type (Biodegradable, Non-Biodegradable), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape and Forecast, 2022 – 2030” in detail along with the table of contents:
High preference for hybrid polymer adhesives to push industry share from the construction segment
In terms of application, the hybrid polymer market is segregated into automotive & transportation, construction, water treatment, oil & gas, electrical and electronic, and others. Mainly due to the high preference for hybrid polymer adhesives, coatings, and sealants over conventional counterparts, the construction segment will be valued at over USD 5 billion by 2030, the report claims. This product exhibits exceptional electrical and mechanical insulating properties, heat and chemical resistance, and enhanced coating performance. The introduction of environmental norms, especially in developed nations, will further drive product demand from the construction segment.
Biodegradable hybrid polymers to emerge as a key alternative to polyacrylic acid
With regards to type, the hybrid polymer market is bifurcated into non-biodegradable and biodegradable segments. Of these, the biodegradable segment is poised to exhibit a CAGR of over 6% through 2030, owing to the rising environmental concerns regarding plastic packages and containers. Biodegradable hybrid polymers emerge as a sustainable alternative to polyacrylic acid, delivering similar performance and handling. They also have a low lifecycle impact and a high renewable carbon index, proliferating segmental demand.
Rapid expansion of construction activities to augment industry growth in North America
North America hybrid polymer industry is expected to record a revenue of over USD 2 billion by 2030, given the strong growth trajectory of the oil and gas, automotive, and construction industries. New construction activities in the U.S. are highly concentrated in South Atlantic, accounting for USD 0.22 million, and the Pacific area, registering USD 0.23 million. These factors will escalate the usage of hybrid polymers for coating, adhesive, and other construction applications across the region.
Acquisition strategies to define the hybrid polymer industry landscape
The competitive landscape of the hybrid polymer market is expected to witness a series of acquisition activities by industry players. For instance, in April 2022, 3M purchased LeanTec, a digital inventory management solution provider, leading to the progress of the connected bodyshop digital platform, which combines data and analysis with product platforms. This initiative will enable the company to expand its presence in the market. Some of the key players profiled in the report include Bostik (Arkema Group), Novachem Corporation Ltd., Kaneka, 3M, MAPEI S.p.A, The Sherwin-Williams Company, and others.