CHICAGO, Aug. 3, 2022 /PRNewswire/ -- Waterproof Adhesives & Sealants Market size is projected to grow from USD 23.4 billion in 2022 to USD 31.3 billion by 2027, at a CAGR of 6.0% between 2022 and 2027, according to a new report by MarketsandMarkets™. Waterproof adhesives & sealants are predominantly used to prevent moisture and water from entering and damaging products. They are ideal for demanding exterior industrial and transportation applications where moisture and weather exposure can be extreme. They are used in boatbuilding, fleet maintaining, and ship repairing in marine applications to create watertight seals. They also resist weathering, shock, swelling, and shrinkage over time. The rising use of waterproof adhesives & sealants owing to high growth in the building & construction industry, especially in emerging economies, drives the waterproof adhesives & sealants market.
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The silicones chemistry segment is estimated to lead the waterproof adhesives & sealants market during the forecast period.
Based on chemistry, the silicones based waterproof adhesives & sealants accounted for the largest market share in 2021 and is projected to grow at a CAGR of 6.4% in terms of value, during the forecast period. Silicone adhesives & sealants are flexible and have a longer lifespan than other material. The use of these adhesives & sealants in high-growth applications, including expansion joints between dissimilar materials, and for weather sealing in high-rise buildings, airport runways, and highways, has also increased their demand.
The transportation end-use industry is expected to have the fastest growth in the waterproof adhesives & sealants market during the forecast period.
Based on end-use industry, the transportation segment in the waterproof adhesives & sealants market accounted for the fastest growth in 2021 with a CAGR of 6.2%, in terms of value, during the forecast period. Waterproof adhesives & sealants are widely used in the transportation end-use industry for vehicle assembly, exterior vehicle trim, interior vehicle trim, direct window glazing, panel bonding, automotive module sealing, and electric circuit board preparation. It also finds a range of applications in shipbuilding and marine transport for providing protection against water, chemicals, weather, and environmental degradation.
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Asia Pacific is expected to be the largest market for waterproof adhesives & sealants during the forecast period.
Asia Pacific leads the overall waterproof adhesives & sealants market in terms of both value and volume, followed by Europe and North America. The increasing population, urbanization, industrialization, and growing concerns related to infrastructure development in China and India are some of the factors expected to drive the waterproof adhesives & sealants market in this region.
Key Market Players
Major players operating in the global waterproof adhesives & sealants market include 3M (US), Henkel AG (Germany), Avery Dennison Corporation (US), H.B. Fuller (US), Dow (US), Huntsman Corporation (US), Sika AG (Switzerland), MAPEI Spa (Italy), RPM International (US), and Bostik SA (France).
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