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Product Overview
Sealant is a material that blocks the passage of fluids and other substances through the surface. In construction, sealants are commonly known as caulking and are used to close openings between spaces that are small for other substances including timber, mortar, and concrete to be used. Construction sealants also block the passage of air, dust, and insects and act as a fire-stopping component. Construction sealants provide protection from environmental risks, leakage, and seepage as well as offer better performance and greater durability. Various types of sealants are available based on their characteristics - they can be strong or weak, temporary or permanent, and flexible or rigid. Construction sealants offer reliable, flexible, and waterproof joints for a wide range of applications such as glazing, roofing, and flooring.
Market Highlights
Global Construction Sealants market is expected to project a notable CAGR of 5.95% in 2030.
Global Construction Sealants Market to surpass USD 16.22 billion by 2030 from USD 9.1 billion in 2020 at a CAGR of 5.95% in the coming years, i.e., 2021-30. The rising construction of residential and commercial buildings and the increasing demand for glazing and panels in new high-rise buildings are driving the demand for construction sealants. Furthermore, construction sealants provide safety and ease of application due to which their demand is anticipated to fuel in the coming years. Environmental concerns which are leading to the development of light and green buildings are expected to boost the global construction sealants market.
Recent Highlights in Global Construction Sealants Market
In August 2017 Sika acquired ABC Sealants, a Turkey-based manufacturer of sealants & adhesives. This acquisition will strengthen Sika's market position in Turkey and further establish Sika as inclusive supplier of solutions for interior finishing applications
In January 2017, H.B. Fuller acquired the industrial adhesives business of Wisdom Adhesives Worldwide, a provider of adhesives for the packaging, paper converting, and assembly markets. The acquisition will strengthen H.B. Fuller's position in the Americas adhesives business
Global Construction Sealants Market: Segments
Silicone segment to grow with the highest CAGR during 2021-30
Global Construction Sealants market is segmented by Resin type into Silicone, Polyurethane, Polysulfide, and others. Silicone segment held the largest market share of XX.X% in the year 2020. Silicone sealants are commonly used for glazing, kitchen, and bathroom applications. Silicone sealants are popular for effective sealing as well as weatherproofing joints of structural components. These sealants are pliable and do not crack in warm weather or become stiff in cold weather due to which their demand is boosting.
Glazing Segment to grow with the highest CAGR during 2021-30
Global Construction Sealants market is distributed by application into Glazing, Weatherproofing, Flooring & Joining, Sanitary & Kitchen and Others. Glazing Segment held the largest market share of XX.X% in the year 2020 owing to increasing investment in infrastructure development and rising standard of living of consumers. Additionally, the shift towards modern construction coupled with better aesthetics has increased the use of glazing in buildings which is anticipated to grow the construction sealants market.
Market Dynamics
Drivers
Increasing Construction of Residential and Commercial Buildings
Substantial growth in the construction of residential and commercial buildings is mounting the demand for construction sealants. Commercial projects include the construction of malls, apartments, shopping complexes, and centers which have further surge the demand for construction sealants. Construction sealants are used in glazing, flooring & joining, and sanitary & kitchen. They are used for glazing due to their long-lasting bond and rapid adhesion properties. The extensive utilization of sealants in newer applications such as anchoring application, ductwork, and structural glazing in the construction industry is boosting the construction sealants market.
Rising Maintenance and Renovation Activities
Rising disposable income coupled with increasing living standards of consumers has led to an increase in renovation and maintenance projects which are projected to drive the construction sealants market. Construction sealants are used to fill a gap between two or more substrates and form a barrier through which other materials cannot pass. They prevent building structures from air and heat thus enhancing structural strength and durability.
Restraint
Environmental Regulations
Stringent environmental protocols regarding the production of chemical and petro- based products are estimated to hamper the global construction sealants market. Construction sealants are toxic and impact the environment which may challenge the product penetration and hinder the market growth.
Global Construction Sealants Market: Key Players
Sika AG
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
3M
BASF SE
H.B. Fuller Company
Cytec Solvay Group
General Electric Company
PPG Industries, Inc.
Arkema Group
Master Bond Inc.
DAP Products Inc
Henkel
Other Prominent Players
Global Construction Sealants Market: Regions
Global Construction Sealants market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Construction Sealants market in Asia Pacific held the largest market share of XX.X% in the year 2020. Asia Pacific will continue to dominate the global Construction Sealants market due to the rising demand for Construction Sealants in residential and commercial construction activities in this region. Additionally, increasing population and industrialization in Asia Pacific have fueled the demand for Construction Sealants. Availability of financial assistance supported by huge investments in infrastructure projects is expected to have a positive influence on the construction sealants market.
Global Construction Sealants market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Construction Sealants market report also contains analysis on:
Construction Sealants market Segments:
By Resin Type
Silicone
Polyurethanes
Polysulfide
Others
By Technology
Water-based
Solvent-based
Reactive
Others
By Function
Bonding
Protection
Insulation
Soundproofing
Cable Management
Others
By Application
Glazing
Weatherproofing
Flooring & Joining
Sanitary & Kitchen
Others
By End-User
Residential
Industrial
Commercial
Others
Global Construction Sealants Market Dynamics
Global Construction Sealants market size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints