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Global Construction Sealants Market Report (2020-2025)

The global construction sealants market accounted for USD 10,112.31 million by value and 1706.21 Kilo Ton by volume in 2020. The market is estimated to grow at a CAGR of 6.32% by value and 5.38% by volume over 2020-2025

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Market Snapshot

Construction Sealants Market by Growth Rates, %

Market Overview

The global construction sealants market is undergoing a substantial change with past advancements and currently conquering the market space. Increasing developments of the smart and energy-efficient buildings have further driven the demand for the construction sealants globally. Growth is also supported by increasing new construction and renovation activities across the world. Stay-at-home orders due to Covid-19 have driven the demand for DIY and certain multi-family construction projects which supported the sealants market.

Silicone sealants are expected to dominate the construction sealants market due to their high durability and weatherproofing properties. Construction sealants are mainly used in glazing and room insulation purposes that led to a greater demand across the globe as the glazing is mainly pacing toward the energy-efficient buildings which will reduce of the greenhouse gas (GHG) emissions across the globe. The key factors limiting the market growth are the stringent norms, various regulations imposed toward the reduction in the global energy consumption, fire-safety and need for acoustic insulations. Regulatory standards to be met toward the reduction of harmful volatile organic compounds (VOCs) released by the use of these construction sealants is also hampering the sales.

Demand is expected for advanced sealants that offer higher performance and productivity such as strong adhesion to all types of building materials, including composites (e.g., Azek, Trex, Kleer) and traditional substrates such as fibre cement, vinyl, aluminium, wood, and metal. Sealants with higher flexibility and joint movement to resist expansion and contraction without cracking or losing adhesion are meant to stand out in the competition.

Market competition is increasing greatly with growing new companies and technologies. New product launches, business expansions, mergers and acquisitions and partnerships/ collaborations/ joint-ventures are the key strategies followed in the industry. Utilization of innovative technologies is one of the strategies followed by many companies such as Bostik company offers mould-resistant sealants for construction activities.

Market Dynamics

Increased Industry focus on the use of products and materials with life-cycle information and that have environmentally, economically, and socially preferable life-cycle impacts are also driving the growth in the construction sealants market. Glazing, flooring & joining, and sanitary & kitchen, among others, are the key applications for sealants that addresses energy efficiency and reducing GHG emissions from the buildings. Newer applications of sealants in ductwork, anchoring, and structural glazing in the construction industry are also driving the construction sealants market.

Growing concerns for environmental and health issues are leading to the strict regulatory policies that restrict products with high VOC emissions and not meeting safety standards of the products. These regulatory norms are highly impacting the production capacities of manufacturers, especially in European and American regions. Frequent changes in regulatory rules and standards imposed by the Construction Products Regulation (CPR) is a growing concern among manufacturers that restricting the growth.

COVID-19 Impact

Globally, COVID-19 pandemic has devastated economies and vastly and it is ongoing. Due to the halt of movement of people and business, mainly the construction sector. Manufacturing and transportation sectors have faced major disruption in sealants industry due to Covid-19 crisis. Manufacturers experienced a downturn in the late first/early second quarter, depending on the end-use sectors they serve, followed by the suppliers and distributors alike. Most of the industry activities underwent cancellation and postponement of the projects across the world. The industry has witnessed various hurdles such as rise in 12-15% export tax rebates, which are the highest over the past some time, for exported products like pigments and resins as China attempts to recover lost share due to both tariff restrictions and COVID-19.

However, some improvements were seen over the recent months, particularly in building and construction as especially new residential construction activities at a slow pace with delays in sourcing raw materials across the nations. The “stay-at-home” has benefited DIY products on a short term, as most of the people are confined to their homes, and home improvement projects Especially for interior applications where it demanded interior DIY home repair and remodelling products.

Despite the slowdown in the construction sealant market with Covid-19 Crisis, the Adhesive and Sealant Council (ASC) is supporting industry members with communication, education, and engagement opportunities. The main aim of ASC is to educate the members on how they could be responsive and prepare for the current emergency in the times of crisis. ASC further developed a new Crisis Recovery Program to support members of the council to meet their targets due to COVID-19.

Segmentation by Product

Based on the product type the construction sealants are segmented into Silicone, Polyurethane, Polysulfide, Modified silicone (MS), and Other sealants. Silicone sealants are expected to lead the construction sealants market over the forecast period to 2025. Silicone sealants are widely used in glazing, bathroom, and kitchen applications for use in expansion joints for joining dissimilar materials; and it also provides weather protection to high-rise buildings and offers flexibility for airport runways and highways as they are flexible and do not crack in warm weather or brittle and crack in cold weather. These advantages are driving the silicone sealants segment. Modified silicone sealants are expected to grow at a faster rate over the forecast period due to their high performance and economical behaviour.

Segmentation by Geography

APAC is accounted for the major growth and has emerged as the leading consumer and producer of construction sealants. The growth in the Asia-Pacific region is driven by increased foreign investments besides cheap labour and availability of raw materials. Government initiatives to improve manufacturing and rising capital intensive non-residential construction along with growing developments in the construction of end-use industries including steel plants, helicopter manufacturing plants, wind power plants, oil processing plants, high-speed rail lines, airport expansions, and power plants constructions are expected to drive the construction sealants market in APAC region. Growing demand for permanent houses across developing countries such as India, Brazil, China, Indonesia, and Vietnam are mainly due to the growing population, urbanization, and rising incomes. This rapid growth in residential housing in these countries is driving the construction sealants market.

Competitive Landscape

The recent developments in the construction sector mainly due to growing urbanization and industrialization. With increasing technological innovations and modernization, there has been a growing demand for smart homes, offices, shopping complexes, among others with main importance for saving the energy which is escalating demand for the construction sealants for many market players (both established and new entrants). Various business activities are followed by market players to establish themselves and create a vast customer base across the globe.

Industry traditionally competitive in terms of partnering with building contractors, providing customers with a quality service, Timely completion within the budget line and offering highly advanced technologies. Now, the industry is seemed to be turning towards competitive pricing strategies with increasing demand and trend for DIY home projects, unlike construction contractors people tend to purchase low/limited quantities.

Product launches, business expansions, mergers and acquisitions and partnerships/ collaborations/ joint-ventures among established players as well as new entrants are some of the key strategies followed in the construction sealants market. ARKEMA, BASF SE, Wacker Chemie AG have launched new products, Akzo Nobel N.V., BASF SE, EVONIK, and Wacker Chemie AG, have undergone business expansions. Akzo Nobel N.V., BASF SE, H.B. Fuller Company, ARKEMA, EVONIK and The Sherwin-Williams Company, among others, have been involved in mergers and acquisitions partnerships, collaborations and joint ventures.

Major Players

3M
3M
Akzo Nobel N.V
Akzo Nobel N.V
BASF
BASF

Table of Contents

1. Research Methodology and Scope

2. Executive Summary

3. Impact of COVID-19 on Construction Sealants Market

4. Market Dynamics

        4.1 Drivers

        4.2 Restraints

5. Competitive Landscape

        5.1 Key Strategies Adopted by Major Companies

        5.2 Company Share Analysis

6. Construction Sealants Market Segmentation by Product

        6.1 Silicone

        6.2 Polyurethane

        6.3 Polysulfide

        6.4 Modified silicone (MS)

        6.5 Other sealants

7. Construction Sealants Market Segmentation by Application

        7.1 Exterior

        7.2 Interior

        7.3 Doors and Windows

8. Construction Sealants Market by Geography

        8.1 North America

                 8.1.1 United States

                 8.1.2 Canada

                 8.1.3 Mexico

        8.2 Europe

                 8.2.1 United Kingdom

                 8.2.2 Spain

                 8.2.3 Italy

                 8.2.4 Germany

                 8.2.5 Russia

                 8.2.6 Rest of Europe

        8.3 Asia-Pacific

                 8.3.1 China

                 8.3.2 India

                 8.3.3 Japan

                 8.3.4 Australia

                 8.3.5 South Korea

                 8.3.6 Rest of Asia-Pacific

        8.4 South America

                 8.4.1 Brazil

                 8.4.2 Rest of South America

        8.5 Middle East and Africa

                 8.5.1 Saudi Arabia

                 8.5.2 Africa

                 8.4.3 Rest of Middle East and Africa

10. Company Profiles

        10.1 Akzo Nobel N.V

        10.2 BASF SE

        10.3 Dow Dupont

        10.4 Evonik

        10.5 HB Fuller Company

        10.6 Henkel AG & Co. KGaA

        10.7 Pidilite Industries Ltd.

        10.8 Sika AG

        10.9 The Sherwin-Williams Company

        10.10 3M

11. Appendix

Research Methodology

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Global Construction Sealants Market Report (2020-2025)
Global Construction Sealants Market Report (2020-2025)
Included in this report
Industry Financial Ratios
Revenue Forecasts
Historical & Forecast Growth
Industry Market Size
Industry Major Players
Profitability analysis
SWOT Analysis
Industry Trends
Industry Operating Conditions
Porter's 5 Forces Analysis
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