The globalSealants Marketsize was USD 73.73 Billion in 2021 and is expected to register a revenue CAGR of 3.7% during the forecast period. Market revenue growth is primarily driven by rising demand for sealants and adhesives in the construction and building industry.
Mechanical fasteners including welds, screws, rivets, and gaskets are being replaced with adhesives and sealants. This contributes to the more affordable construction of small, light automobiles. Adhesive characteristics have a significant impact on how long an adhesive bond lasts. It may assist in controlling the bond's tensile strength. For a stable structure, there is a high demand forsealants in the panels of glass buildings owing to its various advantage. Sealants are compounds that keep liquids and other substances from leaking through surfaces and mechanical parts. Insects, dust, noise, heat, and air leakage are all also blocked by sealants.When concrete or mortar cannot be used to seal an opening between two surfaces, sealants are typically used.
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Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Sealants market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Key Companies in the market include:Henkel Adhesives Technologies India Private Limited, H.B. Fuller Company, Sika AG, Arkoma, 3M, Illinois Tool Works Inc., Avery Dennison Corporation, Dow, Wacker Chemie AG, and RPM International Inc.
Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Sealants market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Market Segmentation:
Segments covered:By Formulating Technology Outlook, Application Outlook, Resin Type Outlook, Regional Outlook
By Formulating Technology Outlook:
- Water-based
- Solvent-based
- Hot-melt
By Application Outlook:
- Paper Packaging
- Building Construction
- Woodworking
- Automotive Transportation
- Others
By Resin Type Outlook:
- Silicone
- Polyurethane
- Plastisol
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Sealants market report:
- What is the expected market size of the global Sealants market during the forecast period?
- What factors are expected to hamper global Sealants market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porters Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Sealants market?
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