Construction sealants market by Key Players - Sika, 3M, Momentive, KCC Corporation and Bostik.
Construction sealants demand with respect to sanitary & kitchen applications may witness gains at above 3.1%. Wet areas including kitchen and bathrooms are exposed to high moisture content and may cause water leaks deteriorating building structure thereby promoting use of sealants for moisture curing.
Global construction sealant market share is fairly consolidated and competitive. Some industry participants operating in this market are Sika, 3M, Momentive, KCC Corporation and Bostik.
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Growth in residential renovation and remodeling projects along with huge investments in this sector mainly in China & India should contribute towards construction sealants market. Shifting trends towards smart energy saving modern construction projects along with rise in durable and minimal maintenance demand should favor product growth.
U.S. construction sealants demand from flooring & joining applications may surpass USD 250 million during forecasted timeframe. Growing demand from construction repair, alteration and restoration projects along with adoption of green building concept owing to mandatory environmental policies should drive regional product demand.
Acrylic construction sealants market should register strong gains up to 3.5%. It is widely used for windows, ceramic tiles, kitchen, bathrooms doors and wall filling owing to excellent adhesion, low cost and compatibility.
Rise in consumer inclination towards green building owing to growing environmental concerns should positively influence product demand. These products offer minimal VOC content, less toxicity reduced cost by controlling energy consumption which reduces adverse effects on environment. Increasing R&D spending to formulate biomass based sealants using soy from renewable technology is likely to act as another driving factor towards industry growth.
Construction sealants demand with respect from weatherproofing application is anticipated to reach 115 kilo tons by 2024. The product blocks the apertures from the joints which restrict water ingression, dust, airborne contaminants along with easy application, UV protection long lasting protection and efficiency. Strong application in commercial construction bridges, airports, offices and institutions to ensure durability and longtime protection is likely to fuel product demand.
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India construction sealants market should witness strong gains at above 6%. Growth in construction spending due to finance availability & low labor & material costs is likely to positively impact regional product demand. Rising incidences of poor construction quality and deteriorating building structure may act as another contributing factor towards regional product demand.
Polyurethane construction sealants market is anticipated to exceed USD 2 billion at end of 2024. The product proves to have wide application scope in flooring & joining for public infrastructure including roads, bridges and tunnels owing to its excellent mechanical resistance which helps them to withstand water, smoke, UV degradation, cracking and yellowing thereby stimulating industry growth.
Strict environmental norms by EPA and EU Commission related to emission & toxicity from sealants may challenge industry profitability. Fluctuating raw material prices owing to crude oil prices and usage in packaging, automotive and electronic industries may hamper industry growth thereby affecting construction sealants market price trend.
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