The market for construction sealants is anticipated to advance at a CAGR of 6.5% by value, and 5.4% by volume from 2016 to 2021, and reach $10,700.4 million, and 1,795.1 KT by 2021
NEW YORK, May 15, 2018 /PRNewswire/ -- Global Construction Sealants Market Anticipated to Reach $10.2 Billion by 2021, Reports BIS Research
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The booming global construction industry, is driving the market for the construction sealant. The market for construction sealants is anticipated to advance at a CAGR of 6.5% by value, and 5.4% by volume from 2016 to 2021, and reach $10,700.4 million, and 1,795.1 KT by 2021. This enormous growth is anticipated due to the various benefits of the construction sealants such as high durability & strength, increased adhesion to substrates, easy bonding, and safe handling.
The demand for construction sealants will majorly be driven by the rising demand of them in the residential & non-residential buildings, primarily for glazing and paneling, demand from the developing countries, and the BRICS region, and increasing maintenance and renovation activities in the construction sector.
The various governmental regulations, increasing R&D activities for cost cutting products such as, MS sealants are expected to generate opportunities for low VOC, and sustainable sealants in this market. Additionally, increasing application areas in the emerging economies such as China, India, and Brazil are expected to be the major cause for the advance in demand of the construction sealants.
The report is a compilation of the different segments of the global construction sealants market, including market breakdown by the resin type, applications and sub applications, and different geographical areas.Herein, the revenue generated from the different technologies, namely, silicones, plyurethanes, polysulfides, MS Sealants, and others; and applications, namely, exterior, interior, and doors & windows, among others, are assessed to calculate the overall market size.
While defining the key driving, and restraining forces for this market, the report also provides a detailed summary of the market. It also includes the key participants involved in the manufacturing and distribution of these products.
The report answers the following questions about the global construction sealants market:
• What was the size, in terms of value ($million), and volume (kilotons) of the construction sealants market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
• What are the different resin types of the construction sealants market by the respective manufacturers?
• What was the generation in terms of value ($million), and volume (kilotons) of the construction sealants market for different resin types in 2016, and what is their futuristic growth prospect?
• What was the generation in terms of value ($million), and volume (kilotons) of the different resin types by various applications in the construction sealants market in 2016, and what is their futuristic growth prospect?
• What is the market size in terms of value ($million), and volume (kilotons) of different applications and sub-applications, in terms of value, and volume and their respective growth prospects and key developments?
• What is the construction sealants market size in terms of value ($million) and volume (kilotons) for different regions, based on the various countries and resin types?
• What are the key trends and opportunities in the market, pertaining to the countries included in different geographical regions?
• How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of the construction sealants market?
• What are the major driving forces that tend to increase the demand for the construction sealants market during the forecast period?
• What are the major challenges inhibiting the growth of the global construction sealants market?
• What kind of new strategies are being adopted by the existing market players to further expand in the industry?
• What is the competitive strength of the key players in the construction sealants market by analyzing through market share analysis?
• What is the competitive strength of the key players in the silicone construction sealants market by analyzing through market share analysis?
• Who are the key market players in the market? What are their financials, key products & services, and SWOT analysis?
The report puts special emphasis on the market share of the leading companies in the global construction sealants market, owing to the changing paradigms in the industry.The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry.
This segment also focuses on the key developments and investments made in the construction sealants market by the players.
The most common used strategies adopted by the key players to enhance their geographical presence are business expansions, product launches, and partnerships & collaborations. Moreover, the company profiles section of the report highlights significant information about the key companies involved, along with their financial positions, key strategies & developmental activities since the past few years.
Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).Each geography details the individual push and pull forces in addition to the key players from that region.
The prominent players operating in the global construction sealants market are Sika, H.B. Fuller, Wacker Chemie, Evonik Industries, Bostik, 3M, Henkel, BASF SE, and Arkema, among others.
Executive Summary
The global construction sealants industry is progressing with an incessant growth in the building & construction industry.A sealant is a high-performance compound used majorly in the construction and transportation industries.
The desired properties for any compound to qualify as a good sealant include durability, excellent adhesion to substrate, little shrinkage, excellent weathering, high temperature resistant, corrosion resistant, and Ultraviolet (UV) resistance, having a long service life cycle of 10 – 20 years. With growing population & urbanization in the growing economies, increasing governmental and private sector investments in the construction, and rising disposable incomes of people leading to incased renovation activities are driving this market. Silicone, polyurethane, polysulfides, and MS sealants are the most commonly used sealants as they offer the desired properties among other, traditional materials such as, wax, bitumen, and other adhesives & bonding agents. With substantial advancements in the construction industry, sealants have evolved as a predominant material with many applications.
The market for construction sealants is anticipated to advance at a CAGR of 6.5% and attain value of $10,700.4 million by 2021. This enormous growth is being anticipated due to the various benefits provided by the construction sealants such as, high durability & strength, increased adhesion to substrates, easy bonding, and safe handling. The demand of construction sealants will majorly be driven by the rising demand of construction sealants in the residential & non-residential buildings, primarily for glazing and paneling, demand from the developing countries, and the BRICS region, and increasing maintenance, and renovation activities in the construction sector. The various governmental regulations, increasing R&D activities for cost cutting in products such as, MS sealants are expected to generate opportunities for low VOC, and sustainable sealants in this market. Additionally, increasing application areas in the emerging economies such as China, India, and Brazil are expected to be the major cause for the rise in demand of the construction sealants.
Increased globalization, global population, urbanization, and infrastructural developments are leading to a rise in the demand for sealants. For instance, it is estimated that 66% of the buildings that will exist in the country in 2030, are yet to be constructed which is creating an urgent need for construction sealants products. The growth of this market is driven by certain other factors such as:
• Rising demand of the Construction Sealants in Residential & Non-Residential Buildings, Primarily in Glazing and Paneling
• High Demand from the developing & BRICS Countries
• Increasing Maintenance and Renovation in the Construction Sector
However, there are certain challenges that are inhibiting the overall growth of the construction sealants market:
• Volatility of Raw Materials
• Environmental Regulations in Various Regions
The global construction sealants market is expected to grow from $7,810.0 million in the year 2016 to $XX million by 2021, at a CAGR of 6.5% from 2016 to 2021. By volume is estimated to rise at a CAGR of 5.1% from 2016 to 2021. Sealants play a crucial role in joining and sealing the gaps in the buildings to form a barrier for infiltration or exfiltration of moisture, air and airborne particles. Sealants are used in several different applications and are a substantial part of the building. The key product types include construction sealants based on silicone, polyurethanes, polysulfides, MS Sealants, and others. The silicone-based sealants are majorly utilized in the building construction applications involving exterior, interior, and doors & windows. Polyurethane based sealants are also used commonly in the buildings. Apart from these, MS sealants and polysulfides are also some of the important construction sealants used in a large number of commercial as well as industrial buildings.
In the year 2016, silicone-based sealants dominated the market holding a share of XX% by value and XX% by volume, however, MS sealants segment is expected to register the faster growth rate in the market from 2016 to 2021.The key factor driving the fast pace growth of MS sealants is the high investment made by companies in this market to develop low-cost sealant technologies.
Currently, this product is available at a much higher price than other sealants, which is a challenge for the market of this product.
Advanced properties of sealants such as high elasticity, flexibility, higher strength than putties and caulks, thermal, electrical, and acoustic insulation make their usage suitable for numerous applications in the construction industry. The global construction sealants market can be categorized by application into three major categories viz. exterior, interior, and doors & windows. The exterior category includes sealants used for glazing and bonding with glass, stone (concrete), metals (aluminum, etc.), and others. The interior category includes sealants used for applications such as flooring, joining, bathroom and kitchen applications. The last category belongs to the sealants used in doors and windows.
The exterior application of sealants dominated the market with a market share of XX% by volume, and XX% by value, in 2016, and a similar trend is expected to be prevalent in the future.The exterior application of construction sealants is further segmented by the substrate that the sealants are used on, such as glazing (glass), stone (concrete), and metals (aluminum).
The glazing sealants for exterior applications was estimated at $2,500.7 million, and 418.1 KT in 2016. The interior application of construction sealants in a building include the various applications such as flooring, joining, bathroom, kitchen and other sanitary applications, used for waterproofing, filling gaps, preventing air and water leakages, preventing ingress of water and moisture to building interior, water damage to tiles and floors, reinforced concrete corrosion, structural steel damage, mold development, materials or snow from entering openings or joints, among others. The flooring & joining segment dominates the interior applications owing to the increasing usage of construction sealants in this segment. This segment is also the fastest growing and is expected to register a CAGR of 6.6% by value and 5.6% by volume from 2016 to 2021. 3M, Bostik, Wacker Chemie, and The Dow-Corning companies are some of the companies offering sealants for the interior applications.
The trends of the construction sealants market vary with different geographical regions.The market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW).
Presently, Asia Pacific is at the forefront of the construction sealants market, with high market penetration in the countries such as the China, Japan, and India, among others. Also, during the forecast period, the Asia Pacific region is projected to display the fastest market growth of over 6.4% and 7.7% by volume and value, respectively from 2016 to 2021. The region presents immense scope for market development, owing to the increasing urban population size, growing governmental and private sector investments in construction industry, and favorable environmental policies in the region.
Competitive Landscape
The competitive landscape for the construction sealants market demonstrates an inclination of the companies towards adopting strategies such as product launch and development, and partnerships and collaborations.The companies adopt various strategies in order to gain and maintain their presence in the market.
Some of the strategies adopted by the construction sealants manufacturers include agreements, collaborations, contracts, joint ventures & partnerships, expansions, new product launches & developments, and mergers & acquisitions.Among all the strategies adopted, business expansions dominated the construction sealants market, and are the most widely adopted strategies among the sealant manufacturers.
For instance, in September 2017, Evonik opened a new plant for specialty silicones in Shanghai, China to increase its market leadership in organically modified specialty silicones and enhance their customer base.
The established players in the market are focusing on product launches and developments to introduce new technologies for broadening their existing product portfolios. Sika, H.B. Fuller, Wacker Chemie, Evonik Industries, Bostik, 3M, Henkel, BASF SE, and Arkema, among others, are the prominent players in the construction sealants market. The market is severely fragmented with the presence of innumerable companies that compete with each other.
The key players operating in the construction sealants market have ramped up their product launch activities over the recent years, to generate public awareness about their existing and new products and technologies and compete with the competitors' product portfolio.With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies to sustain in the intensely competitive market.
For instance, in September 2017, H.B. Fuller signed an agreement to acquire Royal Adhesives and Sealants worth $1.58 billion. The latter is a leading manufacturer of high-value specialty adhesives and sealants. This acquisition is expected to further enhance H.B. Fuller's position as a global leader in the adhesives industry.
The strategy for mergers and acquisitions are adopted by the key players in this industry. The industrial leaders in this market are opting for this strategy to maintain their market position and restrict new entrants from expanding their operations in the market. One of the leading player in the sealants market, Bostik acquired XL Brands (U.S.), a leader in floor covering adhesives and sealants in the U.S. With this acquisition, Arkema-Bostik plans to exceed its sales by one third by 2023.
Countries Covered
• Asia Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Australia & New Zealand
• Singapore
• Indonesia
• Malaysia
• Rest of Asia Pacific
• Europe
• Germany
• France
• U.K.
• Italy
• Turkey
• Spain
• Russia
• Rest of Europe
• North America
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