Growing demand from automobile, construction, packaging, consumer goods, and aerospace is likely to drive the market growth of industrial sealant. In addition, the advent of technological advancements in terms of reliable joints of any substance is again fueling demand for sealants around the globe. Also, the excellent performance offered, like high performing seals, better adhesion to a variety of substrates, resistance to chemicals and gas, are raising their demand across various industries.
As per the new report added by Value Market Research, the Global Industrial Sealants Market was valued USD 8,000.2 MN (by revenue) in 2017 and is anticipated to reach USD 11,395.4 MN by 2024 with a CAGR of 5.2%. By volume, the market was estimated at XX.X KT in 2017 and is expected to reach XX.X KT by 2024 with a CAGR of X.X%.
SILICON INDUSTRIAL SEALANT TO GAIN THE HYPE
Owing to their long-lasting and versatile property, they led the segment in 2017 and is expected to reach USD XX.X by 2024. The dominance of the segment is mainly because they are durable with excellent performance property and extremely suitable for the diverse application. They are an ideal choice of the product when it comes to withstanding high-temperature, bond to glass or metal, resistance to mildew, and provide waterproof joints across a broad range of applications, thereby raising their demand across different industries.
CONSTRUCTION SECTOR TO DOMINATE THE SEGMENT
The construction sector has dominated the segment in 2017 and is projected to surpass USD XX.X MN by end of 2024. Growing construction activities around the globe along with the need for fast and efficient construction product is driving the growth. Also, the growing need for an advanced product that meets the highest construction requirement in terms of reliable and flexible joints is likely to raise the demand for the product in the construction sectors.
ASIA-PACIFIC HOLDS THE LARGEST SHARE IN THE GLOBAL INDUSTRIAL SEALANT MARKET
Asia-Pacific has emerged as the dominating segment in 2017 and is projected to reach USD XX.X MN by 2024. The growth of the market is mainly accounted for the rising demand from various end-use industries such as construction, automotive, aerospace, and packaging in the region where sealants are very useful.
COMPANIES MENTIONED IN THE REPORT
3M, Avery Dennison Corporation, BASF SE, Dow Chemical Company, H.B. Fuller Company, Henkel, and Others
As per this study the Global Industrial Sealants Market was valued USD XX MN (by revenue) in 2020 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%. By volume, the market was estimated at XX KT in 2020 and is expected to reach XX KT by 2027 with a CAGR of XX%.
Industrial sealants are typically used in industries like building & construction, automobiles, aerospace, manufacturing etc. They are primarily used as a barrier to the entry or exit of dust, dirt, noise, moisture, liquid or air. They also possess insulating capabilities that protect the surface from electric current, heat, or water. A sealant is a viscous material with little or no flow characteristics i.e. it remains stationary at the place where it is applied; or it may also be slightly viscous, thus allowing it to penetrate through the substrate by capillary action. Sealants have proved to be effective in eliminating noise, vibrations, enhancing appearance, and performing a joining function. Sealants can also be employed as electrical or thermal insulators, fire barriers, and as products for smoothing or filleting. Most significantly, sealants often serve multiple applications.
Sealants are highly adopted in numerous industries for their varied applications. Automobile, construction, packaging, consumer goods, aerospace, etc. are some of the major application markets for sealants. However, the global industrial sealants market is mainly driven by robust demand from construction, automobile and packaging industry. In addition, technological advancements are fueling demand for sealants in the established North American and European markets. Less cure time, increased performance benefits, like high performing seals, better adhesion to a variety of substrates, resistance to chemicals and gas, coupled with a host of other innovations are reviving the market. However, the sealants market is highly regulated, especially in the U.S. and Europe. Environmental Protection Agency (EPA), and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) are the major governing organizations for sealants.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of industrial sealants.
The broad industrial sealants market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application Market Share 2019
- Consumer Goods
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for industrial sealants in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Asia Pacific Industrial Sealants Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the industrial sealants market includes 3M, Avery Dennison Corporation, BASF SE, Dow Chemical Company, H.B. Fuller Company, Henkel, and Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
Major Company Players Market Share
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.