Global Construction Sealants Market to surpass USD 16.22 billion by 2030 from USD 9.1 billion in 2020 at a CAGR of 5.95% in the coming years, i.e., 2021-30. The rising construction of residential and commercial buildings and the increasing demand for glazing and panels in new high-rise buildings are driving the demand for construction sealants. Furthermore, construction sealants provide safety and ease of application due to which their demand is anticipated to fuel in the coming years. Environmental concerns which are leading to the development of light and green buildings are expected to boost the global construction sealants market.
Sealant is a material that blocks the passage of fluids and other substances through the surface. In construction, sealants are commonly known as caulking and are used to close openings between spaces that are small for other substances including timber, mortar, and concrete to be used. Construction sealants also block the passage of air, dust, and insects and act as a fire-stopping component. Construction sealants provide protection from environmental risks, leakage, and seepage as well as offer better performance and greater durability. Various types of sealants are available based on their characteristics – they can be strong or weak, temporary or permanent, and flexible or rigid. Construction sealants offer reliable, flexible, and waterproof joints for a wide range of applications such as glazing, roofing, and flooring.
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Global Construction Sealants Market: Key Players
- Sika AG
- BASF SE
- H.B. Fuller Company
- Cytec Solvay Group
- General Electric Company
- PPG Industries, Inc.
- Arkema Group
- Master Bond Inc.
- DAP Products Inc
- Other Prominent Players
Global Construction Sealants Market: Segments
Silicone segment to grow with the highest CAGR during 2021-30
Global Construction Sealants market is segmented by Resin type into Silicone, Polyurethane, Polysulfide, and others. Silicone segment held the largest market share in the year 2020. Silicone sealants are commonly used for glazing, kitchen, and bathroom applications. Silicone sealants are popular for effective sealing as well as weatherproofing joints of structural components. These sealants are pliable and do not crack in warm weather or become stiff in cold weather due to which their demand is boosting.
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Increasing Construction of Residential and Commercial Buildings
Substantial growth in the construction of residential and commercial buildings is mounting the demand for construction sealants. Commercial projects include the construction of malls, apartments, shopping complexes, and centers which have further surge the demand for construction sealants. Construction sealants are used in glazing, flooring & joining, and sanitary & kitchen. They are used for glazing due to their long-lasting bond and rapid adhesion properties. The extensive utilization of sealants in newer applications such as anchoring application, ductwork, and structural glazing in the construction industry is boosting the construction sealants market.
Stringent environmental protocols regarding the production of chemical and petro- based products are estimated to hamper the global construction sealants market. Construction sealants are toxic and impact the environment which may challenge the product penetration and hinder the market growth.
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Global Construction Sealants market report also contains analysis on:
Construction Sealants market Segments:
- By Resin Type
- By Technology
- By Function
- Cable Management
- By Application
- Flooring & Joining
- Sanitary & Kitchen
- By End-User
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