The rapidly growing construction industry is raising the demand for thread sealant product since it provides excellent bonding and joints over open areas of any substances. Also, ongoing industrialization and urbanization along with the growing demand for the advanced product in terms of waterproof joints and bonding are further driving its demand. Further, rising demand for the product across automotive, oil refineries, power generation, chemical processing industry, and other manufacturing sector is again boosting the market growth.
As per the latest report added by Value Market Research, the Global Thread Sealant Market is anticipated to grow with a CAGR of 6.12% between 2023 to 2030.
HASTE AND PASTE IS THE MOST POPULAR SEALING METHOD
It is one of the most popular methods used for general-purpose instant sealant for tapered and straight fittings. This paste can be applied in leak-proof joints on threaded fittings which are exposed to air. Owing to its superior lubricant which offers leak-tight sealing is raising its demand across the various end-user industry. Also, it holds excellent properties such as non-flammable, non-migrating, non-toxic, odorless, and waterproof as well as anti-corrosiveness thereby driving product demand. By the end of 2030, the segment is expected to touch USD XX.X MN.
INDUSTRIAL SEGMENT IS THE LARGEST APPLICATION AREA
The industrial segment has dominated and is expected to surpass USD XX.X MN by 2030. Rising demand for sealing metal tapered pipe threads and fittings across various industries such as petroleum refining, chemical processing, waste treatment, power generation, automotive, and manufacturing industries are driving the segment growth.
RETAIL TO LEAD THE DISTRIBUTION CHANNEL SEGMENT
Retail has dominated the distribution channel and is expected to cross USD XX.X MN by the end of 2030. A growing number of retail outlets across the globe along with the expansion of retailers in rural areas to reach the potential customer is fueling the industry expansion.
ASIA-PACIFIC TO HOLD THE HIGHEST MARKET SHARE
Asia-Pacific has emerged as the dominant region in the global thread sealant market and is expected to touch USD XX.X MN by end of 2030. The dominance of this region is because of ongoing urbanization and industrialization along with the rising demand for the product from the construction industry is fueling the industry growth in the region.
COMPETITIVE LANDSCAPE
3M Company, Deacon Industries, Inc., Hb Fuller Company, Henkel Ag & Company, KGaA, La-Co Industries, Inc., and Permatex.
As per this study, the Global Thread Sealant Market was valued at USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of 6.12%.
Thread sealants refer to the viscous compound used to fill the minute gaps by providing a seal against gas and liquids leakage. Thread sealants resist the entry and exit of chemical, air, moisture, dirt and dust particles. These are generally available in fluid, paste and tape. They are applied on screws, bolts, washers, jam nuts etc. to prevent leakage and corrosion. Thread sealants are used in building & construction, automobile, oil refineries, power generation, chemical processing and others.
Market Dynamics
Rising demand for sealing compounds especially from the industrial sector is driving the market growth. Booming automobile sector followed by rising demand for pneumatic & hydraulic products globally is likely to foster the market growth in forecasting period. Moreover, growing waste and wastewater pipe market are presumed to contribute majorly to the market growth. Rising R&D by major players on the development of new products to fulfill high-performance requirement is anticipated to boost the market growth in upcoming timespan. Furthermore, new product development followed by commercialization is presumed to open new gateways for major players.
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 thread sealant.
Market Segmentation
The broad thread sealant market has been sub-grouped into sealing method, application and distribution channel. 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 Type
- PTFE
- Haste And Paste
- Sealing Cord
- Others
By Application
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for thread sealant 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.
Global Thread Sealant Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the thread sealant market includes 3M Company, Deacon Industries, Hb Fuller Company, Henkel Ag & Company, KGaA, La-Co Industries, Permatex. 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.
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