SAN FRANCISCO, June 3, 2019 /PRNewswire/ -- The global building and construction sealants market size is anticipated to reach USD 11.23 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.1% over the forecast period. Increasing construction spending in emerging economies like China and India is the significant factor driving market growth. Furthermore, the rising recovery of infrastructure in developed markets like U.S. and Germany is expected to boost the demand.
Key suggestions from the report:
- Polyurethane resin is expected to be the fastest growing segment with a CAGR of 6.0% during the forecast period on account of low cost and extensive usage in bonding applications
- Flooring application led the building and construction sealants market in 2017, with a share of 23.1% owing to the enhanced bond strength and superior hardness offered by construction sealants for flooring purposes
- The bonding function is anticipated to be the fastest growing function segment with a CAGR of 6.1% during the forecast period
- Asia Pacific is predicted to lead with a market share of 47.7% by 2025 on account of rapid industrialization and rising spending on housing infrastructure
- Regulatory agencies such as EPA and REACH have enforced strict regulations regarding the limits on the emissions of Hazardous Air Pollutants (HAP) and Volatile Organic Compounds (VOCs) which has encouraged the production of bio based sealants
- Some of the key market players are Sika AG, 3M, Dow Corning, and H.B Fuller. New product launches, mergers and acquisitions, and product launches are the significant business strategies adopted by them.
Read 174 page research report with TOC on "Building and Construction Sealants Market Size, Share & Trends Analysis Report By Resin Type (Silicones, Polyurethanes), By Technology (Water-based, Solvent-based), By Application, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/building-construction-sealants-market
Water based sealant emerged as the leading technology worldwide in 2017 owing to its Volatile Organic Compound (VOC) free characteristics and low cost. These products minimize slipping while adhering to vertical surfaces and reduce the need for joint support during curing. Moreover, they are highly heat resistant and therefore the bond caused by them integrity when exposed to sunlight.
The silicone resin based sealants led the market in 2017 due to its characteristics such as thermal stability, adhesion, aesthetic appeal, and weather resistance. Furthermore, these products were significantly adopted for structural glazing and weatherproofing applications.
The bonding segment of the product captured the largest market share in 2017. For the purpose of bonding, construction sealants are always preferred over mechanical fasteners due to high strength bonding characteristics and better environment-friendliness. Also, they facilitate faster development of construction projects and are more economical than mechanical fasteners.
Asia Pacific is predicted to be the fastest growing region in the global building and construction sealants market, during the forecast period. Increasing demand for housing infrastructure coupled with rising per capita income is estimated to propel the construction sector in emerging economies like China, India, Vietnam, and Thailand. Moreover, there is an increasing demand for sustainable products, which is expected to support the growth of bio-based sealants.
The market is dominated by a few players who hold a significant market share. Major players are focusing on product differentiation and innovation to sustain the demand for eco-friendly products. Merger and acquisition is a significant strategy adopted by the industry players to gain a competitive advantage and expand their geographical presence.
Grand View Research has segmented the global building and construction sealants market report on the basis of resin type, technology, application, function, end-use, distribution channel, and region:
- Building and Construction Sealants Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Building and Construction Sealants Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Building and Construction Sealants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Food & Beverages
- Building and Construction Sealants Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Cable management
- Building and Construction Sealants End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Building and Construction Sealants Distribution channel Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Building and Construction Sealants Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Barrier Resins Market – The global market for barrier resin is expected to grow at a double-digit CAGR for the forecast period. Rise in pharmaceutical packaging industry in developing economies, improved shelf life of packaged food products, growing urbanization and changing patterns of lifestyle continue to drive the food packaging market.
- Bottle Sealing Wax Market – The factors that propel the growth of the global Bottle Sealing Wax market include rising disposable income and increased usage of superior packaged products.
- Rigid Transparent Plastics Market – The global rigid transparent plastic market is likely to grow substantially in the coming seven years, owing to the continuously increasing incomes and regularly changing lifestyles that promote the rigid plastic material for packaging purposes.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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