Global Construction Sealants Market: Overview
Construction sealants provide extra flexibility, waterproofing, and reliability to the commercial and residential infrastructure. These sealants are used in a wide range of applications such as bathroom sealant, waterproofing, roof sealant, window sealant, fireproofing, and door sealant. In addition, it covers construction projects ranging from small domestic renovations to the giant river-spanning bridges and skyscrapers. Construction sealants are used to block sound, dust, and heat transmission. Various types of construction sealants are used to provide temperature stability, flexibility, chemical stability, weather resistance, and long life. They are used in a large number of sealant applications in construction such as roofing, kitchen, expansion joints, sanitary, and other joints.
Global Construction Sealants Market: Growth Factors
The penetration of the construction sealants for the flooring and expansion joining area in the infrastructure, housing, and commercial applications, which in turn acts as the driving factors for the global construction sealants market. The characteristics of the products change as per the requirement of end-user industries for different applications. Increasing maintenance and renovation in the construction sector are boosting the global market growth in future. Technological innovations focus on sustainable product solutions driving the global construction sealants market growth. However, strict regulatory intervention specifically for toxic residue and environmental impact may challenge product penetration and pressurize profitability of the global market.
Global Construction Sealants Market: Segmentation
The global construction sealants market is classified on the basis of applications as sanitary and kitchen, glazing, flooring and joining, and others. Of these, glazing is the dominating segment in the global market, whereas the flooring & joining application shows moderate growth due to rising urbanization and growing government initiatives. On the basis of resin type, the global construction sealants market is fragmented as polyurethane, silicone, polysulfide, and others. Of these, silicone sealants are leasing segment in the global market. However, growth in the automobiles, construction, and machinery industries is anticipated to propel the use of silicone sealants global construction sealants market growth.
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Global Construction Sealants Market: Regional Analysis
Asia Pacific is one of the leading markets for construction sealants owing to fastest growth in the economy. Additionally, rising demand from infrastructure development and bio-based sealants across the world positively impacts the global construction sealants market. The Middle East and Africa is also growing at a faster rate due to increasing double income, population, and shows excellent growth in the coming years. South-East Asia and Latin America are emerging economies and may hold significant growth in the next few years due to the growth of infrastructure development and rising demand from onsite applications. The Eastern and Central European nations show considerable growth owing to improved purchasing power. Developing countries such as India and China are spending high on construction and automotive industries, which has largely influenced the global construction sealants market.
Global Construction Sealants Market: Competitive Players
Key players dominating the global construction sealants market are Dow Corning, Sika, Wacker, 3M, Franklin International, and Henkel A&G. Other players in the global market are DAP Products, ITW, and Bostik.