Global Automotive Sealant Market: Overview
Sealants are viscous material that helps in filling gaps and retains the sealing properties between the two substrates. It provides a barrier to the dust, air, liquids, and others from passing from one substrate to the other one. Sealants have the properties such as they have adhesion, corrosion resistant, and are insoluble in most media. The adhesion of adhesives is more as compared to the sealants. However, the sealants have higher elongation than adhesives. Different types of sealants are used in various industries one among which is the automotive industry. The sealants that are used in the automobiles are known as automotive sealants.
Global Automotive Sealant Market: Segmentation
The global automotive sealant market is segmented into its type, component, and regions. On the basis of the vehicle type, the global market is segregated into a passenger vehicle, heavy commercial vehicle, light commercial vehicle, and electric vehicle. Based on the component, the market is categorized as glass run channel seals, exterior sealing’s (others), front windshield seal, hood seals, waist belt seals (inner/outer), roof ditch molding seals, door seals on body and door, rear windshield seal, trunk seals, and glass encapsulations. Region-wise, the global market is diversified into Europe, North America, Asia-Pacific and Rest of the World.
Global Automotive Sealant Market: Growth Factors
The growing automotive industry is the key driver of the growth of the automotive sealants market. The sealants find various uses in an automobile which includes insulation matting, fixing the car upholstery, fixing the acoustic insulation parts in the car the doors, cladding of door panels, and much more. The sealants are used in cases where high elongation is needed but with moderate adhesion. Sealants, when formulated with elastomers, provide required flexibility. They are also used to enhance the dielectric strength. The water-based sealants are used widely and hence there are chances of new areas of opportunities to open in the automotive sealants market in the coming years. The factor that restrains the market growth is the emission of the volatile organic compounds and other harmful pollutants from the automotive assembly causing harmful effects in the environment.
Global Automotive Sealant Market: Regional Analysis
The automotive sealants market is dominated by Asia-Pacific region. This dominance in the market is in terms of value. The developing regions such as India, China, Korea and Japan are contributing a major share towards the market growth. The segment of passenger cars is expected to increase in the countries such as Japan, China, the USA and Germany where there are major car manufacturers located. Owing to the economic downturn UK is showing a slow pace of market growth. The growing automobiles industry in the Asia Pacific region contributes to the market growth.
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Global Automotive Sealant Market: Competitive Players
The key market players in the automotive sealants market include Cooper Standard Inc., Magna International, Toyoda Gosei Co., Ltd., Henniges Automotive Holdings Inc., Hutchinson Automotive, Sumitomo Chemical Co. Ltd., and Sumitomo Chemical Co. Ltd.