Sealants Market Research Report – Recent Trends, Growth Opportunities, and Market Size and Share Global Forecast Analysis – 2024 - 2032

Sealants Market Size Research Report – In a Glance

As per the Research report on global sealants market, the market is projected to foresee a CAGR of 7.85% between 2024-2032, and further generate a market size of USD 24 billion by the end of 2032. In the year 2023, the market size was valued at USD 11.25 billion.

• The global sealants market is projected to grow on account of the wide application in construction industry.
• In Japan, the sealants market growth can be attributed to the increasing application in automotive industry.
• KDMI analyst’s growth analysis foresees competitive pricing to challenge the market growth.
• The Asia Pacific sealants market is projected to dominate the global market.

Sealants Market Analysis

Sealants are material used to fill gaps, joints and prevents the seepage of liquid, gases or other substance through them. Their common application is in construction, automotive and manufacturing industries to enhance durability, waterproofing, weatherproofing, and structural integrity. Sealants come in various form such as silicone, polyurethane, and acrylic, offering good adhesion, offering flexibility and resistance to environmental factors.

Increasing application of sealants in construction industry is due to its wide applications such as waterproofing, crack sealing and weather-sealing. The global construction industry is expected to grow at 4.2% per annum up to 2032. Countries such as China, India, U.S., and Indonesia are expected to cover 60% of overall construction industry, driving the growth of the market. 3M, Henkel AG & Co. KGaA and RPM International Inc. are some of the significant parties in the global market for Sealants.

Analyst’s Observation on Japan Sealants Market Research

Japan holds a precise control over the automotive industry holding 2.9% of the nation’s GDP due to a dedicated focus on continual product and process development. Sealants are widely used in the automotive industry because of its applicability to surfaces such as glass, plastic, metal, and painted surface They are used in engines and car gasket to increase their weather resistance, durability and long-lasting effect. In 2023, the Electric Vehicle market of Japan is projected to reach a revenue of USD 6.7 Billion and will experience an annual growth rate of 5.9%, resulting in increased growth of the market. Aica Kogyo Co, Ltd., Sika AG, and Arkema Group are some of the significant parties in the market for Sealants in Japan.

Sealants Market Growth Drivers and Challenges

Increasing usage of Sealants in Construction Industry to Promote market growth:

The construction industry increasingly relies on sealants due to its various applications in water proofing, weather proofing, enhancing structural integrity and longevity of building. They are used in filling gaps, joints and seepage, preventing water to seep out, air leakage and thermal bridging. This growing reliance on sealants shows their role in ensuring safety, comfort and longevity of built infrastructure. As it provides stability, and durability, aligning with the need of construction industry.

Fluctuating raw material prices to restrict market growth:

Fluctuating raw material prices poses a significant challenge in the sealant industry, impacting the production cost and profit margins. Sudden increase or decrease in prices disrupts the supply chain and pricing strategy, leading to financial strains on manufacturers.

Sealants Market Segmentation

Our experts at KD Market Insights have segmented the global Sealants market research report as:

Sealants Market Regional Synopsis

The Asia Pacific sealants market is majorly driven by rising construction and building industry and automotive sector in the area. Due to factors such as urbanization, rapid industrialization and growing economies are driving the attention of investors and manufacturers towards the sealants market. Around 43% of the total construction-based investment comes from the Asia Pacific region. China is the world’s largest construction industry and is expected to register a CAGR of 8.8% during the forecast period. In Japan the housing construction is increasing by 4.6% every year, this growing construction industry will drive the demand for the sealants in upcoming years.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific sealants market growth:

• Pidilite Industries
• Henkel
• Nan Pao Resins Chemical
• Avery Dennison Corp
• Bostik

Sealants Market Competitive Landscape

Some of the key players who top the global sealants market share:

• 3M
• Aica Kogyo Co. Ltd
• Arkema Group
•  CEMEDINE Co.,Ltd
•  Huntsman
•  Lord Corporation
•  Mactac Americas
•  H.B. Fuller Company
•  Henkel AG & Co. KGaA
•  Oshika.
• Sika AG.
•  Illinois Tool Works Inc

Sealants Market Recent Developments

• H.B Fuller announced the acquisition of Apollo Chemicals to expand its hold on European market.
• Sika expands production and adhesives and sealants in India for manufacturing products and establish three new production line.