With the substantial advancements in the construction industry, sealants are gaining momentum on the global scale owing to their various advantages. Some of the superior properties of sealants over traditional material are high durability, excellent adhesion to substrate, little shrinkage, excellent weathering, high temperature resistant, corrosion resistant, and having a long-life cycle of 10-20 years. According to the market intelligence report by BIS Research titled, ‘Global Construction Sealants Market- Analysis and Forecast (2017-2021)’, the market had generated a revenue of $ 7.8 billion in the year 2016 and is expected to reach $10.7 billion by the end of the year 2021. This significant growth is attributed to the increasing demands of buildings, government and private sector investments in the construction and infrastructure industry, governmental regulations, incentives, and rising market penetration of sealant technologies in various economies.
A sealant is a high-performing compound, used extensively in the construction and transportation industry. Some of the most commonly used sealants are Silicon, Polyurethane, Polysulfides, and MS sealants, among others. The market for construction sealants is majorly driven by the rising demands of these in the residential and non-residential buildings, primarily for glazing and panelling, demands from the developing nations, and increasing maintenance and renovation activities in the construction industry. Additionally, the emerging economies such as India, China, and Brazil are presenting a pool of opportunities for the growth of the construction sealants market.
Among the different types of sealants, the silicon-based sealants dominate the market, holding the largest share on the global scale. However, MS Sealants are expected to register the highest growth rate during the forecast period owing to the high investments made by the companies in this industry to develop low-cost sealant technologies. Moreover, at present, the price of MS sealants is higher, which in turn, is acting as an inhibitor to the growth of these in the market across the globe. Further, some of the factors escalating the demands of sealants on the global scale are increase in the globalization, global population, urbanization, and infrastructural developments.
Based on application type, the construction sealant market on the global level can be segmented into exterior, interior and doors & windows. The exterior category includes sealants used for glazing and bonding with glass, stone(concrete), metals (aluminium), and others. The interior application includes flooring, joining, bathroom and kitchen applications. Further, the exterior application of sealants dominated the market and the same is expected in the forthcoming period. However, the interior segment is the fastest growing and is expected to register a CAGR of 6.6% and 5.6% by value and volume respectively, during 2016-2021.
BIS Research has conducted an extensive research on the global Construction Sealants market and compiled the observation and insight in this report. The market intelligence report aims at providing an in -depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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