Rising Medical Applications to Fuel the Global Sealants Market at CAGR of 5.45% by 2028

Triton Market Research presents the Global Sealants Market segmented by End-user (Packaging, Consumer Electronics, Automotive, Construction, Pressure Sensitive Tapes, Assembly, Other End-Users), Sealant Type (Polyurethane, Polyvinyl Acetate, Silicone, Acrylic, Other Sealant Types), and Geography (North America, Latin America, Middle East and Africa, Europe, Asia-Pacific). The market report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Restraints, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton's report denotes that the global sealants market is likely to showcase revenue growth by 5.45% of CAGR during the considered years 2021-2028. In terms of volume, the market is projected to advance at 4.27% of CAGR in the same period.

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Sealants refer to substances that are produced from multiple chemicals to turn surfaces into being airtight and watertight, further preventing solids, liquids, and gasses from escaping. Also, several properties of sealants, such as corrosion resistance and superior adhesion, have led to their application in packaging, construction, and transportation industries, among others.

Sealants are used in tissue bonding and sealing applications during cardiovascular surgical procedures, influencing their demand in the medical industry. Moreover, plasma and protein sealants are expected to surge in demand, owing to their widening use in multiple surgical procedures, including tissue bonding. Hence, the rising application of sealants in the medical industry is likely to open several opportunities for the sealants market over the forecast period. However, fluctuating prices of raw materials are hampering the expansion of the sealants market globally.

Asia-Pacific holds the largest market for sealants, and is anticipated to continue its stronghold till 2028. The growing manufacturing sector is expected to drive sealants demand in automotive, electrical, and industrial machinery industries. Additionally, the well-developed manufacturing base in countries such as China, Taiwan, and South Korea is likely to boost the studied market's progress. Furthermore, the rapid urbanization and increasing infrastructural activities are enhancing the demand for sealants in the construction sector, simultaneously promoting the sealants market's progress across the APAC region.

The companies engaged in the sealants market include Momentive Performance Materials Inc (MPM), Avery Dennison Corporation, Henkel AG & Co KGaA, Uniseal Inc, General Sealants Inc, HB Fuller Company, 3M Company, Arkema SA, BASF SE, ITW Performance Polymers, Dow Chemical Company, Pidilite Industries Limited, RPM International Inc, Sika AG, and Huntsman Corporation.

In the sealants market, the entry for new players is mainly restricted owing to massive capital investment, surged foreign competition, and governmental regulatory requirements in the adhesives sectors. Moreover, large market players are lowering the chance of local players to compete in the market. However, profitable growth in emerging economies is probable to favor new market players. This indicates that the threat of new entrants is predicted to be moderate. On the other hand, the existing players are involved in surging their market share through mergers & acquisitions, developing novel products, and different strategies, further maintaining their competitive edge. Hence, the competition is estimated to remain high among the existing players over the assessed period.

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