According to the current analysis of Reports and Data, the global Elastomeric 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 sealants market.
Elastomeric sealants such as silicone contribute to the growth of the market as they have various advantages such as weather resistance, easy availability, low cost, and easy application. The growing manufacturing base in developed and emerging economies along with the increasing application of the product in various industries such as construction, automobile, aerospace, and solar, among others is likely to boost industrial growth.
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Key participants for the elastomeric sealants market include 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.
North America is projected to be a key revenue generating region for elastomeric sealants market in the forecast period. The turnaround in construction activities, coupled with the expanding use of adhesives and sealants in manufacturing and assembly, is expected to underpin demand gains. Along with this, increasing demand for insulating glass owing to rising concerns pertaining to energy consumption is also likely to drive demand for the product, particularly silicone.
Further key findings from the report suggest
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 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 sealants market.
Construction end-use segment is expected to witness lucrative growth at CAGR of 7.4 % due to increasing employment of elastomeric 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 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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For the purpose of this study, Reports and Data have segmented the Elastomeric Sealants market on the basis of type, end use, and region:
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
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Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East Africa
Latin America
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