Global Thread Sealant Market Projected To Reach USD 1.45 BN By 2024
Posted On March 08, 2019
The latest market study by Value Market Research on Global Thread Sealant Market reveals the anticipated robust demand for sealing compound from industrial sector is the major factor fueling the industry growth. Analysis depicts that, the global thread sealant market was valued at USD 978.5 million (by revenue) in 2017 and is anticipated to reach USD 1,455.3 MN by 2024. The market is expected to grow with a CAGR of 5.8% from 2018 to 2024. The report demonstrates the market dynamics and prevalent trends across the global. It outlines the major drivers and market restraints responsible for the expected future growth. The detailed investigation on the market players gives an authentic projection of the market size and market growth.
Thread sealants are sealing compound used to seal and secure the plugs, pipes, and fittings. Basically, they fill the spaces between any threaded metal parts, and later hardening to stop leakage. They can use on any size of pipe fitting and seal to boost the strength of most piping systems. Thread sealant is technically designed for high and low-pressure applications, therefore, provides leak-proof joints.
As per the report “Global Thread Sealant Market Report By Sealing Method (PTFE, Haste And Paste, Sealing Cord And Others), Application (Industrial And Sanitary), Distribution Channel (Retail And Online) And By Regions - Industry Trends, Size, Share Growth, Estimation, And Forecast, 2017-2024" the growth in automotive industry along with the huge demand for pneumatic & hydraulic products worldwide is likely to boost the market. Further, increasing usage of pipe for waste and wastewater treatment is expected to shape the market positively. Additionally, increasing investment on R & D for the development of advanced sealing product is likely to open new avenues for the market.
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The report contains segmentations based on sealing method, application, distribution channel, and region. The sealing method includes PTFE, haste and paste, sealing cord and others. Haste and paste method is dominating the segment owing to its superior lubricant which offers leak-tight sealing is raising its demand across the various end-user industry. Further, non-flammable, non-toxic, odorless and waterproof and anti-corrosiveness is also increasing their demand. Application area covers industrial and sanitary. Out of this two, industrial is leading the segment owing to rising demand for sealing metal tapered pipe threads and fittings across various end-use industries. Distribution channel bifurcated into retail and online. Retail is dominating the segment owing to the increasing number of retail outlets in order to reach a potential customer.
Regional market segmentation cover top-five region which includes, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is dominating the global thread sealant market owing to growing demand from the construction industry along with the growth in various industrial and general manufacturing sector.
The Report Segments Global Thread Sealant Market -
By Sealing Method
- Haste And Paste
- Sealing Cord
By Distribution Channel
- North America
- Latin America
- Middle East & Africa
Key Players Reported
3M Company, Deacon Industries, Inc., Hb Fuller Company, Henkel Ag & Company, KGaA, La-Co Industries, Inc., and Permatex.
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