Sealants Find Increasing Applications in Green Construction and Automotive Lightweighting, Driving Market Expansion
September 30, 2023DUBLIN, Sept. 29, 2023 /PRNewswire/ — The “Sealants – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global Sealants market is poised for impressive expansion, with estimated revenues of US$11.3 billion in 2022, and a projected surge to US$16.6 billion by 2030. This substantial growth is anticipated at a steady CAGR of 4.9% over the analysis period spanning 2022 to 2030.
Silicone and Polyurethane Segments Take the Lead
Within the Sealants market, the Silicone segment stands out, projected to achieve a remarkable 5.6% CAGR, reaching a value of US$6.4 billion by the end of the analysis period. The Polyurethane segment is not far behind, with estimated growth at a solid 5% CAGR over the next eight years.
Global Leaders and Geographic Highlights
The United States Sealants market is estimated at a significant US$2.5 billion in 2022, highlighting strong growth prospects. Meanwhile, China, as the world’s second-largest economy, is set to reach an impressive projected market size of US$3.7 billion by 2030, driven by a compelling CAGR of 6.8% from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each forecasted to experience steady growth at 3% and 4%, respectively, during the 2022-2030 period. Within Europe, Germany is expected to grow at a solid 3.8% CAGR.
Key Competitors
3M Alfa International AVERY DENNISON CORPORATION BASF SE BENSON POLYMERS Bostik Carlisle Companies Inc. Dow Chemicals FRANKLIN INTERNATIONAL H.B. Fuller Company Henkel Ag & Co. KGaA Illinois Tool Works Inc. ITW Polymers Sealants Mapei PARAMELT B.V RPM International Inc. Sika AG Solvay Wacker Chemie AG YOKOHAMA INDUSTRIES
Optimistic Economic Outlook
The global economic outlook is showing signs of improvement, with growth recovery expected for the upcoming years. The United States has successfully navigated recession threats despite slowing GDP growth. In the Euro area, easing headline inflation is boosting real incomes and driving economic activity. China is poised for substantial GDP growth as the pandemic recedes, and India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.
Despite these positive trends, various challenges persist, including uncertainty around the war in Ukraine, slower-than-expected global headline inflation decline, and ongoing food and fuel inflation in developing countries. High retail inflation is affecting consumer confidence and spending. Governments are addressing these challenges by raising interest rates to combat inflation, which may impact job creation and economic activity. The regulatory environment is also tightening, with growing pressure to integrate climate change into economic decisions.
Investment Opportunities in Emerging Technologies
While corporate investments may face inflation-related concerns and weaker demand, the rise of new technologies presents opportunities. Generative AI, applied AI, machine learning industrialization, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies are poised to reshape the global investment landscape. These technologies have the potential to drive significant incremental growth and value to global GDP in the coming years.
In this dynamic environment, businesses and leaders who exhibit resilience and adaptability are well-positioned to seize the opportunities that lie ahead.
What`s New?
Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Pandemic Impact and the Global Economic Update: War & Inflation Supersede COVID-19 as Major Downside Risks for the Global Economy in 2023 & Beyond
Here’s How Inflationary Pressures Affect the Economy
Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
Stubbornly High Inflation to Single Handedly Drag Down Global Growth
Here’s What’s Causing the Current Spike in Inflation
Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2023
War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation in 2022 to the Highest Level Seen Since 1996: Global Inflation Rates (In %) for the Years 2019 Through 2024
War, Global Inflation, Cost of Living Crisis, Failed Fiscal Policy Attempts to Restore Price Stability & Contain Downside Risks to Result in Sharper-Than-Expected Slowdown in Global Economic Growth: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2023
Pandemic Hindered Global Sealants Market Growth in 2020 but Vendors Now See New Growth Opportunities Emerging
Sustainability Now One of the Top Priorities for Adhesive & Sealants Producers
Competitive Landscape
Sealants – Global Key Competitors Percentage Market Share in 2023 (E)
Balancing Demand-Supply Equation
Surgical Sealants Competitive Scenario
Medical Adhesives – Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
A Prelude to Sealants Industry
Despite COVID-19 Crisis Curtailing Growth in the Short-Term, Long-Term Prospects Remain Optimistic for the World Sealants Industry
Analysis by Segment Type
World Sealants Market by Type (2023 & 2030): Percentage Breakdown of Value Sales for Silicone, Polyurethane, Acrylic, Latex, Polysulfide, and Other Types
Rising Demand from End-Use Industries Primes Sealants Market for Lucrative Growth
World Sealants Market by End-Use (2023 & 2030): Percentage Breakdown of Value Sales for Automotive, Building & Construction, Packaging, Electronics, Healthcare, and Other End-Uses
Developed Regions Key Sales Generators, Developing Regions to Drive Future Growth
Outsourced Manufacturing Boosts Demand for Sealants in Developing Countries
World Sealants Market by Region (2023 & 2030): Percentage Breakdown of Sales for Developed and Developing Regions
World Sealants Market – Geographic Regions Ranked by CAGR (Sales) for 2022-2030: USA , Canada , Europe , China , Asia-Pacific , Middle East , Latin America , Japan and Africa
, , , , , , , and Sealants – A Brief Product Overview
Classification based on Chemical Constitution
Other Sealant Types
Select End-Use Applications of Sealants
Recent Market Activity
Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Building & Construction Sealant Market to Drive Long Term Growth
Market Fortunes Intrinsically Tied to the Global Construction Industry
Recovery in Global Construction Sector to Post Gains in Long Term
World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
Global Value of Megacity Construction Projects (US$ Billion) in 2019
Trends in the Construction Industry Influence Market Uptake
Rising Investments in Infrastructure Projects Strengthens Market Prospects
Global Infrastructure Spending (in US$ Trillion) by Region/Country Over the Period 2010-2030
Global Infrastructure Spending Estimates (in US$ Trillion) by Sector Over the Period 2013-2030
Focus on Green Construction Techniques to Boost Market Demand
Trend Towards Green Construction Fuels Emergence of Sustainable Sealant Solutions
Anticipated Strong Construction Activity in Developing Countries to Spur Growth for Polyurethane Sealants
Bituminous Sealants and Caulks: A Popular Choice in Infrastructure Renovation
Sealants find Growing Application for Structural Glazing
Adhesive and Sealants Aid EU Construction Sector to Lower Carbon Footprint
Recovery of Automotive Industry Activates Fresh Growth Opportunities for Sealants Market
Comparison of Various Automotive Sealant Solutions
Recap of COVID-19 Impact on the Automotive Industry in 2020
Global Automobile Production (In Million Units) for the Years 2011 – 2021
Outlook for 2022 Remains Positive
Growing Focus on Light Weight Models Drive Strong Business Case for Sealants
Breakdown of Automotive Material Mix: 2022E
Lightweighting Trend in Auto Parts: Average Weight of a Passenger Car (In Kgs) for the Years 1990, 2000, 2006, 2016, 2019 and 2023E
Sealants Gaining Increased Acceptance in Medical Applications
Surgical Sealants Market
Select Sealant Materials & their Applications in Surgical Applications
Hemostats Tissue Sealants Set For Impressive Growth
Potential Market for Surgical Adhesives and Sealants (2023E): Percentage Share Breakdown of Global Surgical Procedure Volume by Type
Dental Sealants Market Increasing with Dental Health Awareness
Use of Non-aerosolizing Procedures for Caries Prevention Recommended amid the Pandemic
Aerospace – A Potential Market for Sealants
Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2019 & 2039
Expanding Alternative Energy Market Bodes Well for Sealants Demand
Global Energy Generation Mix (in %) for 2018 and 2050
Novel Sealant Solutions Need of the Hour in Flexible Packaging Industry
Industrial Sealants Beneficial for Various Industrial Applications
Silicone Sealants – The Major Sealant Technology
Need for Innovative Products and Growth of Construction Industry Bode Well for Silicon Sealants Market
Recent Sealant Developments: A Review
Hybrid Sealants Gain Prominence
Select Product Innovations: Spearheading Growth
Eco-Friendly Sealants Rise in Popularity
Low VOC Sealants Gain High Acceptance
Key Challenges
Raw Material Availability and Pricing – Crucial for Sealant Manufacturing
Environmental Concerns
Sealant’s Inability to Contain Extreme Temperatures
Stringent Regulations Pertaining to VOC Emissions
Regulatory Concerns for Medical Sealants
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/uc8w3x
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/sealants-find-increasing-applications-in-green-construction-and-automotive-lightweighting-driving-market-expansion-301943204.html
SOURCE Research and Markets
Share this: Twitter
Facebook
More
LinkedIn
WhatsApp
Email
This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform.
Original URL: Click here to visit original article