The market is expected to generate an incremental $ opportunity of US$ 7,058.8 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00213 Format: PDF Pages: 320
Construction Sealants Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Construction Sealants Market was worth US$ 9,320.4 Mn and is expected to grow at a CAGR of 5.8% over the forecast period. The market is expected to hit US$ 16,379.2 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.1%, the market underwent significant growth.
Sealants are used to protect against water, dust, and heat. These materials are extensively used in commercial and residential infrastructure to protect walls, floors, ceilings, and other structures from moisture issues. This material is very useful for making waterproofing processes more efficient and effective. Its effectiveness is assured by providing a physical barrier between the elements in buildings, such as water vapor or humidity.
THE GROWTH IN THE CONSTRUCTION INDUSTRY FUELS THE MARKET GROWTH
The construction sealants market is driven by the growing demand from the construction sector for various applications such as glazing, flooring, joining, and sanitary and kitchen activity. The construction sealants market will benefit from the rising investment in infrastructural development, acting as a major factor for growth.
STRINGENT GOVERNMENTAL REGULATIONS TO HAMPER THE MARKET GROWTH
European and North America are strictly regulated by environmental laws regarding chemical and petro-based products. Agencies such as European Commission (EC), Epoxy Resin Committee (ERC), and other regulatory bodies govern the manufacturing of solvent-based products in North America & Europe. These regulations are restraining the growth of construction sealant
CHANGING LAWS AND REGULATIONS POSES CHALLENGES FOR THE MARKET
Construction sealants are an important part of the building construction industry. Under the Construction Products Regulation (CPR), Sealants have become common for sealing concrete and concrete forms, asphalt, and blocks. The CPR includes many designations, including those for “sealant” and “non-sealant.”
However, all sealants sold within the European Union must comply with the requirements of extended standards relating to performance at various temperatures and depths. The current amount of information available on all products is inadequate to meet these demands because so much depends upon individual specifications and product characteristics.
Market Segments Covered in Report
By Resin Type:
By End-Use Industry:
By Region and Country:
Why are silicone construction sealants projected to have the highest market growth?
The silicone construction sealants are estimated to lead the market during the forecast period. Silicone sealants are widely used for glazing, bathroom, and kitchen applications. The increasing use of silicone sealants in cleaning applications such as washing dishes, ovens, and kitchen sinks; growth in the building and construction segment due to its weather protection, flexibility & durability; and advancement in technology are expected to drive demand for these products in the future.
Why is the Glazing application segment expected to expand the fastest during the forecast period?
The construction sealants market in the glazing application is anticipated to be driven by rising demand from both residential and non-residential applications, owing to the increasing incidence of moisture-related damage resulting from increasing population, greater use of glass, and buildings becoming more exposed to weather conditions. Asia-Pacific, followed by Europe and North America, is estimated as a major market for construction sealants. Some factors are expected to accelerate the growth of this market, like a rise in construction activities and an increase in property prices.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Manufacturers are focusing on developing regions to meet the expanding demand from the application categories. Significant businesses also boost their manufacturing capabilities, new product introductions, R & D, and mergers and acquisitions.
Some of the key developments that have taken place in the Construction Sealants Market include:
A list of some of the key suppliers present in the market are:
Global Construction Sealants Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Resin Type, Application, End-Use Industry, Technology, Function, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|