Sealants Market

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.

Market Dynamic

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:

• Water-based
• Solvent-based
• Hot-melt
• Reactive & Others

By Application:

• Paper & packaging
• Building & construction
• Woodworking
• Consumer & DIY
• Automotive & Transportation
• Leather & Footwear
• Assembly
• Medical
• Electronics
• Others

By Resin Type:

• Silicone
• Polyurethane
• Plastisol
• Emulsion
• Polysulfide
• Butyl
• Others

By End Use:

• Building & Construction
• Automotive & Transportation
• Consumer
• Others

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 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.

Region-Wise Analysis

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

• The Asia-Pacific region dominated the global market share by more than 39.9%. With a CAGR Of 6.3%. The increasing demand from industries such as construction, packaging, and electronics in the countries such as China, India, and Japan will continue to drive the need for adhesives in packaging applications. The food and beverage industry has shown remarkable growth as it innovates new products, increases production, and resorts to attractive packaging materials to attract customers.
• The leading North American adhesives and sealants market is anticipated to show positive growth from 2022 to 2032. The North American region has the 2nd largest global market share, more than 27.5%. North American adhesives and sealants market growth will be pronounced with a notable trend for flexible packaging. Moreover, a noteworthy shift toward recyclable products across the U.S. and Canada will bode well for major companies gearing to propel their regional footprint

Competition Analysis

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:

• In February 2022, Arkema finalized the acquisition of Ashland’s Performance Adhesives business to boost the adhesive solution portfolio.
• In March 2021, DriTac was acquired by American adhesive maker Sika Inc.

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

• 3M Company
• Ashland Inc.
• Avery Denison Corporation
• H B Fuller
• Henkel AG
• Sika AG
• Pidilite Industries
• Huntsman
• Wacker Chemie AG
• RPM International Inc.

Global 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