10 September 2019
Visiongain’s new report the Building and Construction Sealants Market Report 2019-2029: Forecasts by Resin (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl-based), by Technology (Water-based, Solvent-based, Reactive), by Application (Flooring, Packaging, Food & Beverages, Construction, Automotive), by End-user (Residential, Commercial, Industrial), by Distribution Channel (Direct, Indirect), by Region and Analysis of Leading Companies Operating in This Industry. In 2018, Global Building and Construction Sealants market was valued at more than USD 7 billion and is expected to grow on account of increased construction activities in developed as well developing economies.
Sealants discover a broad variety of applications, including glazing, flooring, windows, walls and ceilings. They provide fire strength, climate shifts and extreme temperatures. They are used for glazing as they provide fast adhesion construction and a long-lasting bond that can accommodate a broad variety of motion produced by a variety of traditional and modern window and construction models.
Resins, polyolefin, solvents, and mineral fillers are the raw materials used to manufacture sealants. Factors like regional demand and supply differences, GDP growth rates, currency fluctuations, outages of manufacturing, and unpredictable geopolitical disputes affect the supply of these products. In order to decrease high working expenses and streamline efficiencies, several companies on the market are investing considerably in R&D operations and technological innovations.
The development of eco-friendly and sustainable sealants has been fostered by rising environmental issues and favorable laws by organizations such as the Environmental Protection Agency (EPA) and the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH). It is also anticipated that developments such as green building construction and the use of lightweight chemicals will provide profitable growth possibilities.
In 2018, the water-based sealant segment resulted the market with a more than 45 percent volume share. During the forecast period, the product's long-lasting bond ability is probable to boost its use in building as well as woodwork projects. Typically, the product does not involve a caulking gun and is therefore preferred in several sectors worldwide. Another reason for its extensive use in indoor operations is the low odor of water-based sealants.
The sealants industry is currently witnessing high competitive landscape. Market players have been continuously making efforts to reduce manufacturing costs and develop new design & assembly solutions. Dow Chemicals, BASF SE, and The 3M Company are the key players within the building and construction sealants market.
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