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Global Market for Sealants to Reach USD 9.5 Bn by 2018, Predicts GIA

Published on 2013-05-22. Author : SpecialChem

San Jose, CA -- GIA announces the release of a comprehensive global report on Sealants markets. Global market for Sealants is projected to reach US$9.5 billion by 2018, driven by strong demand in developing countries of Asia-Pacific and Latin America.

Sealants are ubiquitous materials that find widespread use in myriad industries ranging from construction, transportation, packaging to wood working. Construction and transportation industries represent the two largest end-use sectors, accounting for a lion’s share in sealants demand worldwide. In the construction sector, sealants are used for building, maintaining and protecting residential structures, civil infrastructure and commercial facilities. In the transportation sector, particularly in automobiles, sealants are used for vehicle window sealing and glazing, corrosion protection and vibration and sound deadening applications. While specialty sealants are used widely in construction and automotive industries, general-purpose sealants find applications in both commercial and industrial sectors that include textiles, consumer goods, and packaging, among others.

Strong construction activity in developing countries including the BRICs is fuelling growth of polyurethane sealants, which are widely used in building modular homes given their elasticity and structural integrity characteristics. Technological advancements are additionally expanding the use of these sealants to "on-site" construction projects. Silyl Terminated Polyurethanes, for example, are moisture-cured, paintable and one-component sealants that are finding new application possibilities in energy-efficient construction projects. Demand for bituminous sealants and caulks is driven by the recovery in non-building construction activity, especially infrastructure upgrades. Features and benefits like low cost, moisture exclusion abilities, and resistance to weathering, are factors supporting demand for bituminous sealants.

Environmental concerns and regulations have always weighed down upon sealants, as the industrial chemical waste generated by this industry is one of the primary sources of environmental pollution. Formulation and production of ecofriendly sealants like water based and non-solvent sealants are growing in popularity. A key factor fuelling the trend toward bio-degradable and organic sealants is the increasing volatility in supply and prices of basic raw materials used in conventional sealant production. Increasing prices of crude oil, and supply pressures exerted by factors such as natural calamities are benefiting the market for bio-derived sealants. Developed countries represent major markets for bio-derived sealants led by their higher focus on environment conservation and legislation of stringent regulatory norms.

Demand for sealants in the automotive end-use market is expected to be fuelled by growing automotive production especially in developing countries like China and India. Auto OEMs dominate the market with passenger cars offering the greatest opportunities for growth. Volume consumption of sealants is however driven by commercial vehicles like buses and heavy trucks, which require larger volumes of sealants as compared to passenger cars. Rising demand for better insulated and quieter car cabins is generating opportunities for the use of sealants designed specifically for acoustical isolation. Growing focus on fuel efficiency and shifting preferences for lightweight vehicles against a backdrop of rising energy prices, stricter implementation of vehicular emission norms, is generating demand for lightweight sealants. Manufacturers are increasingly investing in developing sealant products that are lower in weight as compared to conventional sealants. Lightweight sealants also offer product benefits like rapid curing that help reduce vehicle production time, and strong adhesion properties that improve vehicle reliability, durability and performance.

As stated by the new market research report on Sealants, Europe represents the largest market worldwide. The weak construction and automotive industries in the region are negatively influencing demand in the market. The outlook for the construction and automotive industries in Europe remains overshadowed by the economic drag exerted by factors like increasing taxes, reducing private construction spends and government spends in infrastructure, declining sales of automobiles and ballooning overcapacity, among others. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 7.3% over the analysis period. Growth in the region is led strong infrastructure and construction investments in China, India, Taiwan, Vietnam and South Korea.

Major players in the marketinclude3M, ADCO Global Inc., Bostik, Inc., Chemence Ltd., Dow Corning Corporation, Henkel AG &Co. KgaA, Hernon Manufacturing Inc., Hodgson Sealants (Holdings) Ltd., Konishi Co. Ltd., Mapei SPA, Momentive, PPG Aerospace Inc., Universal Sealants Limited, Sika AG and Super Glue Corporation, among others.

The research report titled "Sealants: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ Million and Million Pounds for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific and Rest of World. Key segments analyzed by chemical type include Anaerobic, Acrylic, Latex, Bitumen, Butyl Rubber, Epoxy, Oleoresinous, Polysulphide, Polyurethane, Polyvinyl-based, Polyvinyl Alcohol, Polyvinyl Chloride-based, Reclaimed Rubber, Silicone, Styrene Butadiene Rubber and Thermoplastic Rubber, among others.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Source: Global Industry Analysts

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