The elastomeric sealants market is projected to grow from USD 3.77 billion in 2017 to USD 5.19 billion by 2022, at a CAGR of 6.6% during the forecast period from 2017 to 2022
LONDON, March 8, 2018 /PRNewswire/ -- Increased demand for elastomeric sealants from the construction industry is driving the growth of the elastomeric sealants market across the globe.
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The elastomeric sealants market is projected to grow from USD 3.77 billion in 2017 to USD 5.19 billion by 2022, at a CAGR of 6.6% during the forecast period from 2017 to 2022. Elastomeric sealants are used in various industries such as construction, automotive & transportation, electronics, furniture & woodworks, aerospace & defense, marine, and others.
The growth of the elastomeric sealants market across the globe can be attributed to the increased demand for elastomeric sealants from the construction industry. Elastomeric sealants are widely used in the construction industry due to their excellent durability, flexibility, and adhesion. The demand for elastomeric sealants is increasing across the globe due to rising number of residential and commercial construction projects in emerging economies.
Increased use of elastomeric sealants in solar and wind power equipment is fueling the growth of the elastomeric sealants market across the globe.
Elastomeric sealants play an important role in the manufacturing of solar and wind power equipment. They are used to meet the rigorous performance requirements such as withstanding high temperatures of the solar and wind power equipment.
These sealants also ensure long-term environmental protection. Polyurethane elastomeric sealants are widely used in sealing industrial equipment. The formulation and stringent implementation of various environmental regulations have led to the increased consumption of solar and wind power energy across the globe. This, in turn, has further increased the need for solar and wind power equipment, owing to which the market for elastomeric sealants is expected to grow during the forecast period.
Increased demand for elastomeric sealants from the Asia Pacific region.
The Asia Pacific elastomeric sealants market is projected to grow at the highest CAGR during the forecast period, in terms of both, value as well as volume. China and India are the key markets for elastomeric sealants in the Asia Pacific region. The growth of the elastomeric sealants market in the Asia Pacific region can be attributed to the increased government spending and private sector investments for carrying out infrastructural development projects so as to meet the increased demand for residential and commercial buildings.
Extensive primary interviews have been conducted in the process of determining and verifying the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews has been given below.
• By Company Type: Tier 1 – 71%, Tier 2 – 23%, and Others – 6%
• By Designation: C Level – 48%, Director Level – 31%, and Others – 21%
• By Region: North America – 18%, Europe – 38%, Asia Pacific – 17%, South America – 7%, and the Middle East & Africa – 20%
Key companies profiled in this market research report include The Dow Chemical (US), Henkel AG (Germany), 3M Company (US), H.B. Fuller Company (US), Arkema (France), Franklin International (US), Sika AG (Switzerland), Wacker Chemie AG (Germany), RPM International (US), and MAPEI S.p.A. (Italy).
Research Coverage
The elastomeric sealants market has been segmented based on type, end-use industry, and region. This report covers the elastomeric sealants market, in terms of value and volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players operating in the elastomeric sealants market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the elastomeric sealants market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different verticals and regions.
2. The report is expected to help the stakeholders understand the pulse of the elastomeric sealants market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help the stakeholders obtain an improved understanding of the competitive landscape of the elastomeric sealants market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on new product launches, mergers, expansions, agreements & contracts, partnerships, acquisitions, and joint ventures.
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