Global Outdoor Sealants Market - 2020-2027
An outdoor sealant is a material which is primarily used to prevent the flow of liquids inside the surface or joints by forming a mechanical fastener. It is sometimes interchangeable with caulking in construction and also serves different objectives such as blocking the transmission of dust, sound, and heat. There are several types of sealants available to serve various industrial requirements. For instance, an acoustic sealant is used for soundproofing, silicone sealants to prevent UV fading and temperature resistance, while adhesive sealants are perfect for forging a solid bond between two surfaces.
The global outdoor sealants market size was worth US$ XX billion in 2019 and further expected to reach US$ XX billion by 2027, at a CAGR of X% during the forecast period (2020-2027).
High demand for different varieties of sealants for the buildings & construction application, assembly lines, automobiles, and packaging industries, along with their swiftly expanding range of implementation, are the crucial variables that stimulate development, thus propelling the global outdoor sealants market towards growth.
Increasing Demand of sealants in construction industry
Due to the fast sealing capabilities of outdoor sealants along with its greater binding strength on substrates, outdoor sealants is expected to cater to the enormous applications in the construction industry in the near future. The waterproofing sealants are mainly used for outdoor applications such as terraces, balconies and other parts of buildings. The growing residential and commertial construction activities Asia Pacific and the US is expected to lead to the increase in the growth of outdoor sealants industry. Increasing investments in infrastructural development activities such as bridges, airports, dams, and metro stations are also increasing the demand for sealants for flooring, expansion joints, panels, and other applications.
Rising urbanization and disposable income in emerging econmies
Increase in demand for permanent, non-slum houses across the countries such as Brazil, China, Indonesia, India and Vietnam is primarily driven by the growth in urbanization, population and rising income. Therefore, this rapid growth in residential housing in these countries is driving the outdoor sealants market. With the rise in disposible income, urbanization and population growth along witht the government investments to improve the living standards and for economic growth expected to augment the demand for outdoor sealents for various application. Furthermore, increasing demand for packaged food products is expected to support the market growth.
COVID-19 Impact Analysis
COVID-19 has moderatly impacted supplies of raw materials for the outdoor sealants. Packaging industry has witnessed strong demand during the pandemic. Amidst the pandemic, the market has witnessed a considerable growth across several applications, such as microwavable foods, flexible packaging, pet food packaging, beverage packages and containers, and any end-of-line case and carton packaging. The commercial construction (new buildings & refurbishments), infrastructure projects, and road construction and repair are industries have witnessed a modest decline. Also, industrial manufacturing was highly impacted due to the COVID-19 outbreak.
Based on the type, the global outdoor sealants market has been classified into water-borne sealants, solvent-borne sealants, reactive sealants, and hot-melt sealants.
Water-borne sealants segment accounted for the highest market share in the global market
Due to the eco-friendly product formulation, the water-borne sealants segment recorded the largest market share in 2019. Moreover, the zero- or reduced emissions of VOCs (Volatile Organic Compounds) from these products is expected to be a prominent factor which is envisioned to drive the market growth during the forecast period. The growth in green building construction has increased the concern about the quality of construction which is increasing the demand for water-borne sealants. Furthermore, stringent environmental regulations imposed by various regulatory bodies such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) and EPA (Environmental Protection Agency) and favorable government policies is expected augment the market growth.
Based on the application, the global outdoor sealants market has been classified into building and construction, automotive and transportation, paper and packaging, and others
Paper and Packaging segment dominated the Global Outdoor Sealants Market in 2019
Fast-paced lifestyle and increasing middle class population along with increasing disposable income are stimulating expansion in the paper and packaging industry across the globe particularly in Asia Pacific region. It is anticipated to increase the market for outdoor sealants as the higher consumption requirement enters packaging applications, such as envelopes, carton boxes, carton closures, bags, disposables and others.
Based on geography, the study analyzes the outdoor sealants market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific to lead the global market throughout the forecast period
Asia-Pacific was the leading consumer and producer of outdoor sealants in 2019 and is expected to witness significant growth during the forecast period driven by high demand from building & construction and paper & packaging sector. The growth in the outdoor sealants market in Asia-Pacific is due to the increase in foreign investments, owing to the cheap labor and availability of raw materials in the region. Moreover, the government initiatives to improve manufacturing and rising capital-intensive non-residential construction, increase in the construction of end-use industries, such as steel manufacturing plants, aviation manufacturing plants, new service centers, wind power plants, oil processing plants, high-speed rail lines, airport expansions, and thermal and nuclear power plants are expected to drive the outdoor sealants market in Asia Pacific. Furthermore, increasing automobile production in countries such as India, China and ASEAN countries is expected to support the market growth in the region.
The outdoor sealants market is highly competitive. The key outdoor sealants market players which are contributing to the growth of the global market include Henkel (Germany), 3M (US) , H.B. Fuller (US), Bostik (US), ITW Performance Polymers (US), Sika (Switzerland), Mapei (Italy), RPM (US), Dow (US), Longkou City Tainyucheng Plastics Co., Ltd. (China), Foshan Chngoo Co. Ltd. (China), and Shanghai Siway Curtain Material Co. Ltd. (China)
Overview: Henkel is a global manufacturer of industrial, commercial, and consumer chemical products includes polyurethane and laminating adhesives, corrosion inhibitors and surface treatments, Sealants, labeling for glass and PET plastic bottles, wallpaper adhesives, hair dye, skin care products, soaps, dishwashing soaps, perfumes, detergents, glass cleaners, and roofing products. Furthermore, Henkel Adhesive Technologies is the global leader in the adhesives market - across all industry segments. The company was founded in 1876. In 2020, Henkel reported net sales of USD 15.7 billion and USD 2.11 billion of operating profit. Henkel employs about 53,000 people globally. The company offers variety of applications and services to satisfy the needs of different customers.
Product Portfolio: Henkel in India operates in two business areas: adhesive technologies and beauty care, both in the business-to-business realm.
The global outdoor sealants market report would provide access to an approx. 54 market data table, 47 figures and 270 pages.
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