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Industry Analysis: How does COVID-19 trigger the Sealant Market
Sealant Market
The global market is segmented based on type, technology, resin type, end-user, and region. According to our analysts, the increasing demand from automotive industry along with the huge demand for building applications are the significant factors estimated to foster the growth of the global sealant market in the forecast period.
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In addition, a surge in government initiatives to reduce volatile organic compounds from machines & vehicles and a growth in the mechanical manufacturing sector across the globe are other factors expected to bolster the market growth by 2026. Furthermore, the rising demand for green sealants and continual growth in industrialization are likely to provide potential investment opportunities for market vendors in global sealant market in the near future.
One-component Segment to Witness Significant Growth
On the basis of type, the global market is trifurcated into sealant tapes, one-component, and two-component. Of these, the one-component type segment is estimated to grow at a healthy rate by the end of 2026 as one-component comprises base sealants that can be directly used without any need to mix with other components.
Epoxy Segment to Grow at Considerable Rate
On the basis of resin type, the global industry is categorized into epoxy, PU, silicone, and others. Among these, the epoxy resin type segment is estimated to witness a significant growth in the forecast period mainly because epoxy sealants helps in protecting the wood, metals, and fabrics from abrasion damages.
Water-borne Segment to Hold Largest Market Share
On the basis of technology, the global market is trifurcated into water-borne, solvent-borne, and others. Of these, the water-borne technology segment is projected to account for the maximum number of market share by 2026 mainly because this technology is affordable and does not release any harmful vapors.
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Automotive Segment to be Most Lucrative
On the basis of end-user, the global industry is classified into aerospace, automotive, construction, marine, mechanical, defense, marine, and others. The automotive segment is estimated to witness significant growth during the forecast period majorly due to the rising demand for sealant from the industry, especially for vehicle molding application.
Asia Pacific Region to Dominate the Industry
Geographically, the global industry is divided into Asia Pacific, LAMEA, Europe, and North America. Of these, the Asia Pacific sealant market is estimated to dominate the global industry throughout the forecast owing to the rapid industrialization in the emerging economies such as Australia, China, India, and other countries.
Prominent Players of the Market
The major players functioning in the global sealant market are Dow, Wacker Chemie AG, H.B. Fuller Company, Henkel Adhesives Technologies India Pvt. Ltd., Carlisle Companies Inc., 3M, Huntsman International LLC, BASF SE, AVERY DENNISON CORPORATION, RPM International Inc., Illinois Tool Works Inc., and Solvay. The report outlines ad presents several aspects of these key players such as recent strategic moves & developments, product portfolio, SWOT analysis, and financial performance.
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