Global Elastomeric Sealants Market, By Type (Polysulfide (PS), Polyurethane (PU), Polybutadiene (PB), Silicone, Acrylic, Silyl Modified Polymer (SMP), Others), End-User (Construction, Automotive and Transportation, Electronics, Furniture and Woodworks, Aerospace and Defense, Marine), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Elastomeric Sealants Market
Data Bridge Market Research analyses the elastomeric sealants market will exhibit a CAGR of 6.9% for the forecast period of 2022-2029.
Elastomeric sealants are bonding compounds that are used to finish, protect, and seal surfaces. When applied to a fracture or space, they expand and seal the surface, creating a waterproof barrier. When stress is applied to a material, it has the power to stretch the material and then return to its original shape and size when the stress is removed. Elastomeric sealants have enhanced moisture and water management capabilities. Steel, cladding, windows, glass, roads, bridges, stones, metal, concrete, wood, and other surfaces are all sealed with an elastomeric sealant. Elastomeric sealants are tough and easy to work with thanks to their elastic nature, which dries quickly and keeps the material flexible.
The rising demand for PS elastomeric sealants in aerospace and defence industry will influence the growth rate of the elastomeric sealants market. The increase in number of construction activities in developing countries is the key elements driving market expansion. Along with this, rising concern about the utilization of eco-friendly construction sealants will increase the demand for the elastomeric sealants market. The elastomeric sealants market is also being driven by significant factors such as the upsurge in the level of disposable income and increasing urbanization. Furthermore, upsurge in the usage of elastomeric sealants in solar and wind power equipment will enhance the growth rate of elastomeric sealants market. Also, surging demand for elastomeric sealants for various applications including glass windows, cladding, roads, bridges, highways in building and construction will act as major factors influencing the growth of elastomeric sealants market. The changing trend towards renovation of houses and increasing demand for sophisticated bonding products from high-tech electronics manufacturers for protecting sensitive electrical equipment such as sensors, capacitors and ICs will have positive impact on the growth rate of elastomeric sealants market.
Moreover, expansion of end-user industries and upsurge in the demand for bio-based and eco-friendly sealants will create beneficial opportunities for the growth of the elastomeric sealants market. Additionally, high growth in automotive industry in developing nations and untapped potential in emerging market will provide lucrative opportunities for market’s growth.
However, the threat of substitution from construction foam tapes will hamper the elastomeric sealants market’s growth rate. Also, the rise in number of regulations concerning VOC emission will further pose challenges to the growth of elastomeric sealants market.
This elastomeric sealants market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on elastomeric sealants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Elastomeric Sealants Market Scope and Market Size
The elastomeric sealants market is segmented on the basis of type and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Based on type, the elastomeric sealants market is segmented into polysulfide (PS), polyurethane (PU), polybutadiene (PB), silicone, acrylic, silyl modified polymer (SMP) and others. The others segment is further sub-segmented into epoxy and latex elastomeric sealants.
- On the basis of end-user, the market is segmented into construction, automotive and transportation, electronics, furniture and woodworks, aerospace and defense, and marine.
Elastomeric Sealants Market Country Level Analysis
The elastomeric sealants market is analysed and market size, volume information is provided by country, type and end-user as referenced above.
The countries covered in the elastomeric sealants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the elastomeric sealants market and will continue to flourish its trend of dominance due to the rising infrastructure activities and growing construction, electronics, automotive and transportation industries in emerging countries such as India and China. Middle East and Africa is expected to grow during the forecast period of 2022-2029 due to the growing demand from building and construction sector in this region.
The country section of the elastomeric sealants market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Elastomeric Sealants Market Share Analysis
The elastomeric sealants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to elastomeric sealants market.
Some of the major players operating in the elastomeric sealants market are MAPEI S.p.A., RPM International Inc., Wacker Chemie AG, DRACO Italiana SpA, KCC CORPORATION, KÖSTER BAUCHEMIE AG, mageba, Mule-Hide Products, Saudi Vetonit Co. Ltd., ROCKWOOL International A/S, 3M, DOW, Arkema, Sika AG, Isomat S.A., Henkel Adhesives Technologies India Private Limited, VCM Polyurethanes Pvt. Ltd., and H.B. Fuller Company, among others.
In October 2021, Dana Inc., had launched Victor Reina Reinzosil room-temperature vulcanizing (RTV) silicone to the North America market. Reinzosil is a universal silicone sealing compound which provides superior resistance to fluids and extreme temperatures.