Sealants, commonly known as caulking in the construction industry, are ubiquitously used to block dust, heat, sound, and fluid through apertures at joints in building structures. They display a number of properties and are particularly effective in waterproofing processes to provide a barrier for moisture in built structures. Sealants can provide acoustic and thermal insulation and can also be used as fire barriers. Sealants have been in use for several hundred years. Asphalt and bitumen that are naturally occurring have been used as sealants for many centuries.
Sealants comprise inert filler material and are usually composed of an elastomer to fulfill the flexibility and elongation requirements. Sealants are usually present in semi-liquid and viscous state with little to zero flow characteristics. Adhesion, corrosion resistance, and insolubility are some of the desirable properties of sealants that make them ideal for water proofing in the construction industry.
The report presents an overview of the construction sealants market in a ground-up manner looking into market dynamics, growth trends, and product development that will influence the growth curve for the 2016-2024 period. The publication makes for an interesting read as facts and figures pertaining to developments in the market are presented in a chronological order.
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Global Construction Sealants Market: Trends and Opportunities
The construction sealants market is displaying significant growth due to the increasing application of sealants for flooring and expansion jointing in commercial and residential building structures. In particular, in emerging economies, high rate of development of residential buildings is driving the construction sealants market. Furthermore, environmental concerns leading to the development of light and green buildings is expected to display a substantial demand for construction sealants across the world.
However, government regulations in place across several countries for VOC emissions is restraining the market’s growth. The introduction of biobased and anaerobic sealants is anticipated to benefit the market’s growth in future.
Global Construction Sealants Market: Regional Outlook
Europe stood as a major market for construction sealants in 2014. Germany, Russia, Turkey, Austria, and the Netherlands are major contributors to the European construction sealants market. Asia Pacific is expected to display the fastest growth in the construction sealants market in the forthcoming years. In this region, rapid urbanization and construction of commercial complexes for the increasing economic development are benefitting the construction sealants market for building structures.
The Middle East and Africa regional market is expected to display significant growth over the forecast period. In particular, in the UAE and Saudi Arabia, the increasing number of residential building construction to keep up the demand for increasing home ownership supported by easy residential mortgaging schemes will benefit the construction sealants market.
Latin America is expected to display moderate growth over the forecast period. Argentina and Brazil are the major contributors to the Latin America construction sealants market due to the increasing urbanization and industrialization.
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Global Construction Sealants Market: Competitive Landscape
Some of the key players in the global construction sealants market include BASF SE, KGaA, Fuller, Cytec Industries Inc., General Electric, PPG Industries Inc., Henkel AG & Co., 3M, The Dow Chemical Company, Master Bond, and Sika AG.
Research and development for introduction of innovative products is what key players in the market are focused on. Stakeholders in the construction industry are investing heavily in using advanced technologies for product development to serve the changing needs of the construction industry.