Sealants Industry: Examining the Growth Potential of 2023-2030
Sealants Industry Data Book | Forecast 2030
Sealants Industry Data Book - Construction Sealants, Automotive Sealants and Other Sealants Market
Grand View Research’s sealants sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
The economic value generated by the sealants industry was estimated at approximately USD 16.18 billion in 2022. This economic output is an amalgamation of basic sealant categories namely, construction sealants, automotive sealants, and other sealants.
Access the Global Sealants Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
The global sealants market has witnessed remarkable growth in the recent past due to the advancing construction industry worldwide. Sealants are extensively used in construction for various applications such as sealing joints, weatherproofing, and bonding. Thus, the increasing construction activities, including residential, commercial, and infrastructure projects, are driving the demand for sealants. The rise in spending on infrastructure development projects in emerging countries such as China, India, and the U.S. is another major reason driving the use of sealants in construction applications.
Building & Construction Sealants Market Report Highlights
- Polyurethane resin is expected to be the fastest growing segment with a CAGR of 6.0% during the forecast period on account of low cost and extensive usage in bonding applications
- Flooring application led the building & construction sealants market in 2017, with a share of 23.1% owing to the enhanced bond strength and superior hardness offered by construction sealants for flooring purposes
- The bonding function is anticipated to be the fastest growing function segment with a CAGR of 6.1% during the forecast period
- Asia Pacific is predicted to lead with a market share of 47.7% by 2025 on account of rapid industrialization and rising spending on housing infrastructure
- Regulatory agencies such as EPA and REACH have enforced strict regulations regarding the limits on the emissions of Hazardous Air Pollutants (HAP) and Volatile Organic Compounds (VOCs) which has encouraged the production of bio based sealants
- Some of the key market players are Sika AG, 3M, Dow Corning, and H.B Fuller. New product launches, mergers and acquisitions, and product launches are the significant business strategies adopted by them.
Order your copy of the Free Sample of “Sealants Industry Data Book - Construction Sealants, Automotive Sealants and Other Sealants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Automotive Adhesives & Sealants Market Report Highlights
- Acrylics are expected to emerge as the fastest growing adhesives, with over 4% CAGR owing to its excellent bonding strength along with humid and impact resistance. The segment is expected to witness growth owing to increasing passenger cars sales in emerging economies.
- Body-in-white is expected to witness high growth rate over the forecast period owing to the increasing popularity of high performance adhesion solutions in vehicles, which helps in reducing overall weight, thereby saving the fuel consumption.
- As per OICA statistics, passenger car sales grew by about 4.5% from 2015 to 2016; this rise may be attributed to rising disposable income in emerging economies, renewed production levels in recovering developed markets and technological advancements at the OEM level. Passenger car segment is thus likely to remain dominant for both.
- Greater China is expected to remain the industry’s high growth region from 2017 to 2021, owing to a spurt in automobile production levels and encouraging conditions such as low labor costs, high population and geographical proximity to emerging markets.
- The industry is fragmented with few major players catering to the global market. Key participants include Bostik, BASF, Evonik Industries, AkzoNobel, Henkel, 3M Inc., Avery Dennison, DSM, Franklin Adhesives & Sealants, H.B. Fuller Co. and others.
Go through the table of content of Sealants Industry Data Book to get a better understanding of the Coverage & Scope of the study
Competitive Insights
The sealants market is a highly competitive and dynamic industry that offers a wide range of sealant solutions for various applications. To gain a competitive advantage in this industry, companies must remain attuned to industry trends, customer needs, and technological advancements. Manufacturers of sealants, such as Henkel, 3M, and H.B. Fuller, typically source their raw materials from chemical suppliers, leading to a moderate level of integration in the value chain. Notably, major chemical companies like Dow have forward integration capabilities, enabling them to produce both raw materials and processed sealant products. Key market players include 3M, Henkel AG & Co. KGaA, RPM International Inc., Sika AG, Soudal Holding N.V., DOW, Arkema Group, Pidilite Industries Ltd. & Co. KGaA, Huntsman, and Wacker Chemie AG.
To enhance their market position, companies are implementing strategies such as expanding their operations and introducing new products. To contribute to the global shift towards renewable energy, Dow unveiled its expansion plans in March 2023. The company aims to enhance its line of silicone sealant products by introducing photovoltaic (PV) module assembly materials. This strategic move aligns with the growing demand for sustainable energy solutions. Dow's latest offering, the DOWSIL PV Product Line, comprises a selection of six silicone-based sealants and adhesive solutions. These products have been meticulously engineered to deliver exceptional durability and reliable performance across a wide range of applications. Notably, they are well-suited for frame sealing, rail bonding, junction box bonding, and potting, as well as materials required for building integrated photovoltaics (BIPV) installations.
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