According to a new market intelligence report, titled 'Global Construction Sealants Market- Analysis and Forecast (2017-2021)’, the global construction sealants market is expected to reach a value of $10.7 billion and 1,795.1 Kilotons by 2021, growing at a CAGR of 6.5% by value, and 5.4% by volume between 2016 and 2021. The demand of construction sealants will majorly be driven by the rising demand of them in the residential and non-residential buildings, primarily for glazing and paneling, demand from the developing countries, and the BRICS region, and increasing maintenance and renovation activities in the construction sector. The various governmental regulations, increasing R&D activities for cost cutting in products such as, MS sealants are expected to generate opportunities for low VOC and sustainable sealants in this market. Additionally, increasing application areas in the emerging economies such as China, India, and Brazil are expected to be the major cause for the rise in demand of the construction sealants.
Construction sealants are high performance compounds used majorly in construction and transportation industries. The desired properties for any compound to qualify as a good sealant include durability, excellent adhesion to substrate, little shrinkage, excellent weathering, high temperature resistant, corrosion resistant, and ultraviolet (UV) resistance, having a long service life cycle of 10 – 20 years.
With growing population & urbanization in the growing economies, increasing governmental and private sector investments in the construction, and rising disposable incomes of people leading to increased renovation activities are driving this market. Silicone, polyurethane, polysulfides, and MS sealants are the most commonly used sealants as they offer the desired properties among other traditional materials such as wax, bitumen, and other adhesives & bonding agents. With substantial advancements in the construction industry, sealants have evolved as a predominant material with a large number of potential applications such as exterior (glass/glazing, metal, stone/concrete), interior (flooring & joining, sanitary & kitchen, others), doors & windows. However, due to certain disadvantageous characteristics of sealants such as low thermal insulation, low adhesion on painted surfaces, leakage of air and moisture, a large amount of the sales is spent on the R&D activities by the leading companies.
According to Nikita Kheterpal, Research Analyst at BIS Research, “In the year 2016, silicone-based sealants dominate the market holding a share of 55.2% by value and 58.1% by volume., The leading sealant formulators such as, Henkel, H.B. Fuller, Bostik, Sika, 3M, Dow, are operating in a highly-competitive market by investing substantially in R&D, brand building, and building strong relationships with their customers to support and maintain their competitive market share from both sales-based, and cost-focused efforts.”
This market report provides a thorough analysis of the recent trends influencing the global construction sealants market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including market breakdown by resin type, application & sub-application segments, and different geographical regions. It also includes a separate segment on industry analysis, wherein, the opportunity matrix, country share analysis, and market share of key companies, globally, and for silicone sealants is provided to compare the various regions, and the market players on basis of market share and growth rates.
Some of the key players in the global construction sealants market include Axalta Coatings Systems, PPG Industries Inc., AkzoNobel N.V., BASF SE, Sika, H.B. Fuller, Wacker Chemie, Evonik Industries, Bostik, 3M, Henkel, and Arkema. These companies provide a broad product portfolio for specific needs and applications.
This report is a meticulous compilation of research on more than 100 players in the construction sealants ecosystem, and draws upon insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles around 15 companies among which include Sika, H.B. Fuller, Wacker Chemie, Evonik Industries, Bostik, 3M, Henkel, BASF SE, and Arkema, among others.
Key questions answered in the report: