Sealants Industry Set to Experience Robust Growth in the Forecast Period 2023-2030
Sealants Industry | Forecast 2030
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.
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.
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
According to the U.S. Department of the Treasury June 2023 report, the U.S. experienced a rise in construction spending for manufacturing facilities. Since 2021, the spending on real manufacturing construction has doubled in the country. Additionally, the lowering of interest rates is expected to benefit future demand for sealants in construction applications. The highest growth in demand for them can be witnessed in countries such as China and India owing to the surged government spending for the construction industry.
Construction Sealants Market Insights
Construction sealants accounted for an industry share of 54.6% in 2022. The global construction industry is increasingly relying on sealants for a wide range of applications as they play a crucial role in sealing joints, gaps, and connections in various building components, ensuring their longevity and structural integrity. Moreover, the demand for construction sealants is fueled by the need for flexible and durable solutions. Buildings are not static; they undergo movements due to factors like temperature changes and settling. Sealants with high flexibility can accommodate these movements without compromising their sealing properties. Durable sealants are resistant to degradation caused by UV exposure and other environmental factors, ensuring long-lasting performance.
The residential application segment dominated the market with a revenue share of 49.8% in 2022. Sealants play a crucial role in residential construction activities, providing a protective barrier against moisture, air leakage, and other potential sources of damage. These versatile substances are used in various applications throughout the building process, ensuring the longevity and performance of residential structures. From sealing gaps and joints to preventing water intrusion, sealants offer an effective solution for maintaining the integrity of residential buildings.
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, published by Grand View Research
Automotive Sealants Market Insights
Automotive sealants accounted for an industry share of 15.9% in 2022. Sealants play a crucial role in the automotive industry, providing a wide range of applications that contribute to the performance, durability, and safety of vehicles. These versatile substances are used in various areas of automotive manufacturing and maintenance, ensuring the integrity of the vehicle's structure and components. From sealing gaps and joints to preventing leaks and corrosion, sealants offer an effective solution for enhancing the quality and reliability of automobiles.
Sealants are also used to prevent leaks in critical areas of the vehicle, such as the engine, transmission, and cooling system. These sealants are specially formulated to withstand high temperatures, pressures, and chemical exposure. They are applied to gaskets, seals, and other connections to ensure a reliable and leak-free operation. By preventing leaks, sealants help to maintain the proper functionality and performance of these vital automotive systems.
Go through the table of content of Sealants Industry Data Book to get a better understanding of the Coverage & Scope of the study
Other Sealants Market Insights
Other sealants accounted for a share of 29.5% in 2022. Sealants play a crucial role in various industries, including packaging, consumer electronics, aerospace, and marine among others. In context to packaging applications, sealants are utilized to create airtight seals for a wide range of products such as containers, bottles, pouches, and tubes. These seals act as barriers for preventing the leakage of fluids, gases, or any other substances that can compromise the quality and freshness of packaged products. Silicone sealants are highly preferred in consumer electronics. These sealants are used to create a protective barrier around sensitive electronic parts, such as circuit boards, connectors, and sensors. By sealing gaps, joints, and openings, silicon sealants prevent the ingress of moisture, dust, and other contaminants, safeguarding the electronic components from damage and ensuring their long-term reliability.
Company Profiles
- 3M
- Henkel AG & Co. KGaA
- RPM International Inc.
- Sika AG
- Soudal Holding N.V.
- DOW
- Arkema
- Pidilite Industries Ltd. & Co. KGaA
- Huntsman
- Wacker Chemie AG
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.
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