New Analysis from Global Industry Analysts Reveals Steady Growth for Sealants, with the Market to Reach $11.3 Billion Worldwide by 2026

SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sealants - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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• Global competitiveness and key competitor percentage market shares
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Edition: 17; Released: February 2022
Executive Pool: 16456
Companies: 152 - Players covered include Henkel Ag & Co. KGaA; H.B. Fuller Company; ITW Polymers Sealants; 3M; Sika AG; Wacker Chemie AG; Dow Chemicals; Carlisle Companies Inc.; BASF SE; Avery Dennison Corporation; Illinois Tool Works Inc.; RPM International Inc.; Solvay; Bostik; Mapei; Alfa International; Benson Polymers; Franklin International; Paramelt B.V; Yokohama Industries and Others.
Coverage: All major geographies and key segments
Segments: Type (Silicone, Polyurethane, Acrylic, Latex, Polysulfide, Other Types); End-Use (Automotive, Building & Construction, Packaging, Electronics, Healthcare, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Sealants Market to Reach $11.3 Billion by 2026
A sealant is a chemically prepared formula-based substance, which is used to fill voids and prevent passage of solids, gases, liquids, dust and noise, and is used to block small gaps that are difficult to fill with drywall, concrete etc. Renowned for their superior adhesion properties, corrosion resistance and insolubility, sealants also provide acoustical and thermal insulation across a wide range of applications. Fortunes of sealant products market depend on health of key end-use markets such as construction sector, automobile and automotive component manufacturing, ship building, machinery manufacturing, among others. Given that business cycles in these end-use markets reflect the general economic activity of a nation, demand for sealants is highly sensitive to the broader economic variables in a given country or a region. In the post COVID-19 period, anticipated increase in construction activity, improvement in manufacturing sector and subsequent rise in demand for and production of a range of machinery, rise in fabrication of metal goods, and renewed demand for and production of transportation solutions, in line with improvement in global economy, will therefore drive demand for sealants. Other megatrends inciting long term growth prospects include ongoing urbanization drive, escalating demand for energy and water.

Amid the COVID-19 crisis, the global market for Sealants estimated at US$9 Billion in the year 2022, is projected to reach a revised size of US$11.3 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Silicone, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$4.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polyurethane segment is readjusted to a revised 5.3% CAGR for the next 7-year period. Silicone sealants represent a key technology in the global sealants market. These sealants find widespread applications in the construction and aerospace industry. As compared to other types of sealants, silicone sealants are exceptionally versatile as they can be used even with materials such as stone, metal and glass that are difficult to bond with other products. They can be used for both permanent and/or temporary adhesion purposes. Excellent adhesion and stress recovery make polyurethane sealants a perfect option for automotive applications.

The U.S. Market is Estimated at $2 Billion in 2022, While China is Forecast to Reach $2.3 Billion by 2026
The Sealants market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Europe and the US are the two major sealants markets owing to increasing construction and automotive manufacturing spending and the presence of sizeable end-use industries. The markets are anticipated to retain their strong positions due to ongoing strategic initiatives from companies that are bound to generate demand coupled with easy access to raw materials as a result of shale gas activity in the US region. Led by India and China, Asia is estimated to exhibit a lucrative revenue growth in the coming years due to favorable macroeconomic scenario, rapid industrialization and rising manufacturing output. The market growth is attributed to favorable government policies to drive construction activity. In addition, continuous expansion of the manufacturing industry is likely to push sealant demand across the automotive, electrical & electronics and industrial machinery industries.

Polysulfide Segment to Reach $434.9 Million by 2026
Polysulfide sealant is a lightweight sealant for aircraft fuel tank applications which offer 30% weight savings than traditional sealants, while also offering faster curing to meet the high aircraft manufacturing turnover rates In the global Polysulfide segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$352.8 Million will reach a projected size of US$468.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$59.6 Million by the year 2026, while Latin America will expand at a 5.5% CAGR through the analysis period.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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