Sealants Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Sealants Market was worth US$ 11,798.0 Mn and is expected to grow at a CAGR of 5.6% over the forecast period. The market is expected to hit US$ 20,344.5 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 4.9%, the market underwent significant growth.
Sealants are primarily used to fill gaps and resist static displacements of substrates. Sealants are formulated with similar chemicals and technologies. They are used in many sectors, such as paper packaging, woodworking, footwear manufacturing, building & construction, and electrical & electronics.
THE GLOBALIZATION WILL BOOST THE INDUSTRY
The demand for sealants is driven by the increasing population and urbanization in emerging nations such as China, India, and Indonesia. There is a growing desire for permanent housing in these nations, fuelling the demand for sealants. The increasing necessity for electronic devices such as electronics components, laptops, and smartphones is projected to boost the European electronic industry’s market expansion
STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH
The application of sealants emits an immense quantity of chemicals considered harmful and dangerous when inhaled. As regulations are becoming stricter, the industry is creating a new ecosystem. According to Emerald Performance Materials’ Vice President, “The regulatory landscape is creating significant trials for the industry. Environment protection agencies such as the U.S Environmental Protection Agency are placing more hurdles and restrictions on manufacturers.”
THE RISE OF URBANIZATION WILL CREATE AMPLE OF OPPORTUNITY
The building and construction industry has the most significant market share, with market demand rising as the sector grows. In response to the increasing demand for sealants and other concrete-related materials, the market area is expected to expand over the upcoming ten years. Adhesives are used in many applications, including flooring, glazing, walls, ceilings, and windows. This growth will support demand for adhesives across five key markets: sealant systems, adhesion promoters; construction resins; fireproofing agents; and formulation additives.
Market Segments Covered in Report
By Formulating Technology:
By Resin Type:
By End Use:
By Region and Country:
Why are Building & Construction projected to have the highest market share in the Sealants market?
A major share in the sealants market is taken by the building & construction segment, which comprises the majority of sealing applications. In several applications, sealants also function as adhesives. For example, in structural glazing on glass-walled buildings. Sealants do not have high tensile strength like adhesives but have superior durability and dependability when subjected to conditions of chemical attack, high humidity, or electrical stress.
Why is the Silicon Sealant segment most frequently used in various applications?
The global silicone sealants market is assessed based on type and application and further categorized into silicone, modified silane polymer (MS), polyurethane (PU), polyvinyl acetate (PVA), epoxy, acrylic, and others such as cyanoacrylate, styrenic block, and others. Silicone sealants are widely used sealant that is used to protect electrical equipment against moisture, dust, dirt, and other contaminants. The industry is estimated to register a massive growth rate during the forecasted period primarily due to the growing demand for electrical and electronic products in both mature and developing countries.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The global adhesives & sealants market is characterized by medium and large producers, which have local and international companies. The fast-paced growth of silicone sealants and the emergence of silicone sealant market players have contributed to the tremendous increase in the sales of silicone sealants among the global industrial segments.
Market shares by leading manufacturers have also grown considerably over the years. Features such as oil & gas, construction and maintenance, transportation, and others have adopted this product as a preferred sealant. The surge in demand for sealing and bonding materials has been driven by strategic investments by key players in their manufacturing facilities and growth in digitalization and connectivity across global markets.
Some of the key developments that have taken place in the Sealants Market include:
A list of some of the key suppliers present in the market are:
Global 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 Formulating Technology, Application, Resin Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.6%.
The ever-evolving manufacturing process has forced the sealants market to improve continuously. The increasing potential applications of sealants in several end-use sectors such as building & construction, electrical & electronics, aerospace & aviation, automotive, and others are the key factors boosting the sealants market growth.
Major global Sealants Market players are 3M Company, Ashland Inc., Avery Denison Corporation, H B Fuller, Henkel AG, Sika AG, Pidilite Industries, Huntsman, Wacker Chemie AG, and RPM International Inc.
Tightness in the silicone supply of raw materials and a spike in the prices of raw materials continue to suppress the silicone sealants market, and leading players are incorporating vertical integration to manufacture raw materials at their facilities.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Sealants market.
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