Polyurethane (PU) based construction sealants market is likely to surpass USD 2 billion by 2024. Strong application scope in flooring and joining for bridges, tunnels and bridges due to its excellent mechanical resistance may help withstand smoke, water, cracking, and UV degradation which may stimulate industry growth.
Increasing application outlook in structural glazing owing to its ease of usage on aluminum, glass, windows, safety user friendly dispensing and cost effectiveness should drive industry growth. Structural glazing applications from construction sealants market is poised to exceed USD 3.1 billion over the foreseeable timeframe. Shift in consumer trends towards modern infrastructure along with rise in economic standards should propel product demand.
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Positive outlook in residential and commercial infrastructure in China and India due to low VOC content, adhesion insolubility, and corrosion resistance accompanied with compliance to green building standards would boost construction sealants market demand. Sealants, also termed as caulking in construction sector which are used to block heat, dust, fluid, and sound in the building structures.
Rise in per-capita disposable income and increasing standard of living is likely to boost renovation projects and residential construction may further stimulate industry growth. Construction sealants provides long life to building structures by preventing from airborne contaminants and rain.
Silicone based construction sealants market may register gains at over 4% over the forecast timeframe. Properties such as high strength, flexibility, excellent durability, UV and moisture resistance along with rising consumer awareness about environment issues and shifting trends towards green construction materials should drive industry growth.
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Construction sealants market demand from flooring & joining applications may witness gains at over 4% up to 2024. The product provides high moisture vapor barriers, mechanical resistance, and compatibility with various infrastructure materials. Rising durable heavy-duty sealants demand for commercial and residential infrastructure buildings should promulgate the industry growth.
Europe, led by UK, France, Italy, Russia and Germany construction sealants market may register gains at over 3% during the foreseeable timeframe. Increasing construction spending in residential sector owing to massive movement of migrants to western countries may stimulate regional industry growth. Strict regulations by EU towards toxicity and VOC emission for building structures has led to adoption of ecofriendly bio-based products, further boost industry growth in the region.
Asia Pacific led by India, Japan, Malaysia, China construction sealants market is poised to surpass USD 2.7 billion over the forecast period. Rising urbanization, increasing per capita income and increasing spending on housing infrastructure should drive product demand in the region. Moreover, government spending in various infrastructure projects should stimulate regional industry growth.
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Global construction sealants market share is moderately consolidated with prominent players including H.B. Fuller, KCC Corp., Sika AG, Alchimica, 3M, Alstone, Pecora Corporation, Dow Corning, Bostik