The Global Sealants Market Estimated to Grow at $11.53 Billion by 2028

January 28 11:11 2021
The Global Sealants Market Estimated to Grow at $11.53 Billion by 2028

Sealants Market
As per Triton’s research report, the global sealants market attained $6.55 billion in 2020, and is anticipated to advance at a CAGR of 5.45% by 2028.

As per Triton’s research report, the global sealants market attained $6.55 billion in 2020, and is anticipated to advance at a CAGR of 5.45% by 2028.

A recent study by Triton Market Research titled ‘Global Sealants Market’ includes the Global Analysis and Forecasts by Sealant Type (Silicone, Polyurethane, Acrylic, Polyvinyl Acetate, Other Sealant Types), End-user (Automotive, Pressure Sensitive Tapes, Packaging, Construction, Assembly, Consumer Electronics, Other End-Users), and by Geography (Latin America, Middle East and Africa, Asia-Pacific, Europe, North America).  

Sealants are substances formed from several chemicals, and are used in different industries, including packaging and construction. Moreover, sealants have several distinct properties, such as resistance to corrosion and excellent adhesion, further enhancing their demand globally.

 

Request Free Sample of the Global Sealants Market Report @ https://www.tritonmarketresearch.com/reports/sealants-market#request-free-sample

 

Triton’s research report insinuates that the global sealants market is likely to progress at a CAGR of 5.45% in revenue, and 4.27% in volume, during the considered years 2021-2028. The market is estimated to garner revenue worth $11.53 billion by 2028.

Factors such as, applications in the construction industry and demand from the automotive sector, are majorly motivating the growth of the sealants market over the assessed period. Several automotive manufacturers are using sealants to bond and seal the interior and exterior of a vehicle. Here, sealants help meet several demands of manufacturers, including weather resistance, elasticity, adhesion to dissimilar materials, and others. Hence, the rising demand for sealants in the automotive sector is likely to advance the sealants market’s progress. However, the fluctuating prices of raw materials in the market are significantly restricting the expansion of the sealants market.

The sealants market is broadly bifurcated into sealant type and end-user. Based on the sealant type, the market is divided into silicone, polyurethane, acrylic, polyvinyl acetate, and other sealant types. In terms of end-user, it is branched into automotive, pressure sensitive tapes, packaging, construction, assembly, consumer electronics, and other end-users.

Geographically, Asia-Pacific is leading the sealants market. The region’s strong growth is mainly owing to the growing demand in automotive, industrial machinery, and electric & electronic industries. For instance, China and India have observed a rise in production activities in the automotive sector. This further increases the need for sealants for bonding of interior and exterior components of vehicles. Furthermore, the rising economies and rapid urbanization are motivating the growth of sealants across the region. Hence, the above-stated factors largely contribute to the development of the sealants market in the APAC region.

HB Fuller Company, Avery Dennison Corporation, ITW Performance Polymers, Henkel AG & Co KGaA, RPM International Inc, Dow Chemical Company, Sika AG, Huntsman Corporation, General Sealants Inc, Momentive Performance Materials Inc (MPM), Arkema SA, Uniseal Inc, Pidilite Industries Limited, 3M Company, and BASF SE are renowned companies thriving in the market.

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/sealants-market#purchase-option

 

Question & Answer: Sealants Market

Question 1: What factors are majorly motivating the growth of the sealants market over the assessed period?

Answer: Factors such as, applications in the construction industry and demand from the automotive sector, are majorly motivating the growth of the sealants market over the assessed period.

Several automotive manufacturers are using sealants to bond and seal the interior and exterior of a vehicle. Here, sealants help meet several demands of manufacturers, including weather resistance, elasticity, adhesion to dissimilar materials, and others. Hence, the rising demand for sealants in the automotive sector is likely to advance the sealants market’s progress.

Question 2: What factors significant restricting the expansion of the sealants market?

Answer: The fluctuating prices of raw materials in the market are significantly restricting the expansion of the sealants market.

Question 3: Which region is the leading in the sealants market?

Answer: Geographically, Asia-Pacific is leading the sealants market. The region’s strong growth is mainly owing to the growing demand in automotive, industrial machinery, and electric & electronic industries. For instance, China and India have observed a rise in production activities in the automotive sector. This further increases the need for sealants for bonding of interior and exterior components of vehicles. Furthermore, the rising economies and rapid urbanization are motivating the growth of sealants across the region. Hence, the above-stated factors largely contribute to the development of the sealants market in the APAC region.

Question 4: Which are the renowned companies thriving in the sealants market?

Answer: HB Fuller Company, Avery Dennison Corporation, ITW Performance Polymers, Henkel AG & Co KGaA, RPM International Inc, Dow Chemical Company, Sika AG, Huntsman Corporation, General Sealants Inc, Momentive Performance Materials Inc (MPM), Arkema SA, Uniseal Inc, Pidilite Industries Limited, 3M Company, and BASF SE are renowned companies thriving in the market.

 

Related Report:

Global Adhesives Market

The global adhesives market is estimated to progress in terms of revenue and volume at a CAGR of 5.71% and 4.60%, individually, during the period of 2021-2028.  The market is expected to gather $56.94 billion in revenue by 2028.

The adhesives market is mainly driven by the continual demand from the construction industry. Here, adhesives can transform designs of modern construction buildings in locations that are vulnerable to natural calamities.

The advancing construction industry, along with growing applications in the packaging industry, are factors that are driving the progress of the adhesives market worldwide. Moreover, the demand from the consumer electronics industry and applications in the automotive industry, is opening multiple avenues for the studied market to reach its projected growth.

However, stringent regulations and uncertainty in raw material prices, are key factors negatively impacting the global adhesives market over the forecast period.

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