Growing Construction And Automotive Industry Along With Surging Demand Of Elastomeric Joint Sealants In Solar And Aerospace Industry Are Key Factors Contributing To High CAGR Of Elastomeric Joint Sealants Market During The Forecast Period.
According to the current analysis of Reports and Data, the global Elastomeric Joint Sealants Market was valued at USD 3933.7 Million in 2018 and is forecast to reach USD 6607.3.0 Million by the year 2026, at a CAGR of 6.6%. The increasing application of the product in the construction industry, coupled with the growing demand for automobiles and electronics products across the globe is likely to create lucrative growth opportunities for the Elastomeric Joint Sealants market. Moreover, the rising adoption of silicon for structural glazing of new construction or renovation of existing buildings is also expected to stimulate industrial demand. Elastomeric Joint Sealants are also extensively used in the automotive transportation industry owing to their high durability, excellent adhesion, and thermal resistance properties. In addition to this, growing demand for lightweight electric vehicles fuels the growth of Elastomeric Joint Sealants market.
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Top Companies: The Dow Chemical Company, 3M Company, H.B. Fuller Company, Henkel AG Among Others. The 3M Company Is A US-Based Company Which Offers An Extensive Line Of Polyurethane, And Silane Modified Polymer Sealants Primarily In North America, Europe, And Asia. The Sealants Offered By The Company Are Suitable For Bonding And Sealing A Wide Variety Of Substrates Including Glass, Wood, Composites, And Plastics.
Key Companies in The Market Include:
In 2018, North America Accounted For 25.7% Market Share Owing To Growing Automobile Sector In The Region. In Addition, The Presence Of A Large Number Of End-Use Industries And Rising Construction Spending In The U.S Is Also Likely To Create Significant Growth Opportunities For The Elastomeric Joint Sealants Market. However, Growing Concerns Regarding Health Issues Associated With VOC Emissions From Chemical Products Is Likely To Hinder Growth.
Silicon Sealants Are Forecasted To Reach USD 1849.95 Million By The Year 2026. Benefits Associated With The Product Such As Improved UV Resistance And Superior Thermal, Electrical, And Mechanical Resistance Are Anticipated To Have A Positive Influence On The Demand. The Increasing Adoption Of These Sealants Across A Wide Range Of Applications Including Construction, Sanitary Applications And Fittings And DIY Sectors, Among Others Is Expected To Drive Demand For The Elastomeric Joint Sealants Market.
Construction End-Use Segment Is Expected To Witness Lucrative Growth At CAGR Of 7.4 % Due To Increasing Employment Of Elastomeric Joint Sealants In Various Applications Such As Roads Highways And Marble Works, Among Others. Moreover, The Increasing Number Of Construction Activities, Especially In The BRIC Region, Is Expected To Drive Growth Of The Elastomeric Joint Sealants Market. Sealants Ensure The Durability Of Exterior Paints Coatings, Reinforcement Of Natural Strength And Improve Energy Efficiency Of The Building.
Latin American Regional Segment Is Expected To Grow At A CAGR Of 6.4% During The Forecast Period On Account Of Increasing Infrastructural Projects In The Region.
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Market Segmentation:
Type (Revenue, USD Million; 2016–2026)
- Polysulfide (PS)
- Polyurethane (PU)
- Polybutadiene (PB)
- Silicone
- Acrylic
- Silyl Modified Polymer (SMP)
- Others
End Use (Revenue, USD Million; 2016–2026)
- Construction
- Automotive Transportation
- Electronics
- Furniture Woodworks
- Aerospace Defense
- Marine
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key Questions Covered In The Global Elastomeric Joint Sealants Market Report:
- What Is The Expected Market Size Of The Global Elastomeric Joint Sealants Market During The Forecast Period?
- What Factors Are Expected To Hamper Global Elastomeric Joint Sealants Market Growth Over The Forecast Period?
- Which Application Segment Is Expected To Dominate Other Application Segments Over The Forecast Period?
- Which Region Is Expected To Dominate In Terms Of Revenue During The Forecast Period?
- What Are The Key Outcomes Of Porter’s Five Forces Analysis And SWOT Analysis?
- Which Leading Players Are Operating In The Global Elastomeric Joint Sealants Market?
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