Construction Sealants Market

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.

Market Dynamic

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:

• Silicone
• Polyurethane
• Polysulfide
• Plastisol
• Butyl-based
• Emulsion
• Others (bitumen-based, acrylic, epoxy, and other hybrid sealants)

By Application:

• Glazing
• Flooring & Joining
• Sanitary & Kitchen
• Others

By End-Use Industry:

• Residential
• Industrial
• Commercial

By Technology:

• Water-Based
• Solvent-Based
• Reactive
• Others

By Function:

• Bonding
• Protection
• Insulation
• Soundproofing
• Cable Management

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The Asia Pacific had a market share of 57.7% in 2021. The Asia Pacific has emerged as the leading consumer and producer of construction sealants. Increased foreign investments drive the growth in the construction sealants market in the Asia Pacific because of cheap labor, availability of raw materials, government proposals to improve manufacturing, rising capital-intensive non-residential construction, coupled with the increase in the construction of end-use industries such as helicopter manufacturing plants, steel manufacturing plants, new service centers, and wind power plants are expected to drive the construction sealants market.
• Between 2022 and 2032, North America is anticipated to increase at a 5.1% annual rate. It is expected that the U.S. will consume a substantial amount of construction sealants overall. Due to the rising use of construction sealants by the building, chemical, and local infrastructure, the United States is anticipated to develop steadily. The top market, frequently used as a basis for creating construction sealants, is expected to grow significantly between 2022 and 2032.

Competition Analysis

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:

• In September 2019, Sika AG announced the acquisition of Crevo-Hengxin, a China-based manufacturer of silicone sealants & adhesives. The Company is strengthening its market position in China and Asia-Pacific and increasing its production capacities.
• In September 2019, Wacker Chemie AG completed the capacity expansion of its Dispersible Polymer Powders in Ulsan, South Korea. The Company’s dispersible polymer powder is an important constituent in the manufacturing of building & construction materials, especially binders. These are used in the manufacturing of construction adhesives and sealants.

A list of some of the key suppliers present in the market are:

• 3M
• Bostik
• Sika
• H.B. Fuller
• Henkel
• BASF
• Dow
• Wacker
• General Electric
• MAPEI
• Asian Paints
• ITW
• Soudal
• Konishi
• DAP Products
• Pidilite
• KCC
• Yokohama Rubber
• Franklin
• Selena
• Kömmerling
• PCI
• Hodgson Sealants
• Pecora
• Euclid

Global Construction Sealants Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies