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Global Sealants Market Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2030

09-14-2022 01:37 PM CET | Arts & Culture

Press release from: Inkwood Research

SEALANTS MARKET

SEALANTS MARKET

Inkwood Research estimates that the Global Sealants Market is evaluated to project a CAGR of 6.07% in terms of revenue and 4.90% in terms of volume during the forecasting years of 2021-2028.
"Browse 57 Market Data Tables and 43 Figures spread over 150 Pages, along with an in-depth TOC on the Global Sealants Market Forecast 2021-2028."

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Sealants entail substances prepared from several chemicals, in order to ensure that surfaces are airtight and watertight. They also help prevent the escape of liquids, solids, and gases. On account of their properties, including corrosion resistance, insolubility, and super adhesion, sealants are also widely used across acoustic and thermal applications in packaging, construction, woodworking, and transportation.

Applications in Automotive Industry Fuels Market Growth
Vehicle manufacturers use sealants and adhesives to seal and bond vehicles' exteriors, interiors, as well as under the hood and the chassis, in addition to several other associated applications. The substance also helps reduce vehicle weight, while satisfying industrial demands for prolonged mechanical performance, and weather resistance. Further, they fulfill the needs of automotive manufacturers, regarding torsional stiffness, elasticity, weather and temperature resistance, minimized surface preparation, and adhesion to dissimilar materials.
On the other hand, new and innovative types of sealants are also being developed. For instance, multipurpose sealants and anchoring comprise new technologies used to make waterproof sealants. As a result, they are highly adaptable across the automotive sector.
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Silicone is the Fastest-Growing Product in terms of Volume and Revenue
Silicones are versatile polymers, with chemical properties providing an excellent bond, and tremendous power. The nature of bonding primarily relies on its application. For instance, silicones are designed to offer temporary and permanent bonding to surfaces, including metal, glass, and stones. Such sealants work effectively, even under harsh environments, ranging from diverse temperature levels and climatic changes, to abrasion. Therefore, they are chemical-, water-, and temperature-resistant. Moreover, they are highly flexible and deliver exceptional performance. Silicones also offer electrical and thermal conductivity, in addition to being transparent, and permeable to water vapor and gas.

Asia Pacific to Lead the Market in terms of Volume and Revenue by 2028
Developing economies like India and China are anticipated to be the primary growth markets, across the Asia Pacific. The augmenting manufacturing sector is expected to drive sealants' demand across industries, such as electrical and electronics, automotive, and industrial machinery. Besides, over recent years, the countries have observed a rise in automotive production, mainly attributed to the technology transfer from Western markets.
Numerous global enterprises manufacture and commercialize sealants. However, only a few dominate the industry. Hence, the market is intense and fairly fragmented. Moreover, producers also engage in technically-oriented projects, targeting the acknowledgment of competitive market challenges, especially in areas including product quality and cost-reduction. Therefore, the degree of industrial rivalry is projected to be high. Leading companies operating in the market are, HB Fuller Company, Sika AG, ITW Performance Polymers, 3M Company, etc.

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