Press release
Latex Sealant Market Pegged for Robust Expansion During 2024 - 2031 | 3M, Henkel AG & Co., KGaA, ITW Polymers Sealants
Latex Sealant Market
The global latex sealant market is projected to surpass US$ 417.8 Mn by the end of 2030, in terms of revenue, exhibit a CAGR of 5.43% during the forecast period (2023 to 2030).
Market Dynamics:
The global latex sealant market is witnessing high growth due to rising construction activities around the world. The growth of the construction industry, especially in developing regions of Asia Pacific and Middle East & Africa is driving the demand for latex sealants. According to data by the Global Construction 2030 report, the volume of construction output is expected to increase by 85% to $15.5 trillion worldwide by 2030, compared to $8.3 trillion in 2017. Further, growing residential remodeling activities in North America and Europe is also fueling the sales of latex sealants in sealation and HVAC applications. Stringent regulations regarding energy efficiency in buildings has increased the demand for highly efficient latex sealants with low VOC content.
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Major Driver: Growth in Construction Industry Boosting Demand for Latex Sealants
The global construction industry has experienced steady growth over the past few years and this growth is expected to continue moving forward. The commercial and residential construction sectors have seen increased investment and project activity as economies strengthen. Latex sealants are widely used in various types of construction applications to seal cracks, protect surfaces, provide insulation and adhesion. Anything from sealing windows and doors to roofing requires sealants. As the construction of new homes, offices, malls and other structures increases globally, the consumption of latex sealants is rising accordingly to meet project requirements. Many emerging markets are also experiencing an infrastructure boom which further bolsters latex sealant market opportunities.
Opportunity: Expanding into Developing Asian and Latin American Countries
While North America, Europe and China currently dominate the global latex sealant market, high growth opportunities exist in other developing Asian countries and various Latin American nations. Their economies are steadily becoming more industrialized with growing construction, automotive and other manufacturing bases. Countries like India, Indonesia, Vietnam, Brazil, Mexico etc. present attractive expansion prospects given their large population and rising disposable income levels driving domestic demand. Multinational sealant producers can establish local operations or partnerships in these regions to manufacture and sell products tailored for regional specifications and codes at competitive prices. Entering new emerging markets early allows companies to gain a foothold before competition intensifies.
Trend: Increasing Preference for Green and Sustainable Sealant Formulations
A major trend gaining momentum is the shift towards greener, more environment-friendly latex sealant products. With sustainability and carbon footprint reduction becoming a global priority, construction specifiers and material buyers are demanding sealants with lower VOC (volatile organic compound) emissions, bio-based content, recyclability and other eco-friendly attributes. Several jurisdictions have implemented stricter regulations favoring lower VOC compounds. Sealant manufacturers are responding by innovating formulations incorporating renewable inputs, designing for disassembly, improving recyclability and obtaining certifications like Living Building Challenge. Transitioning to sustainable product lines allows companies to gain competitive differentiation and access fast growing green building project segments. This preference for eco-friendly sealants is a long term trend expected to significantly influence the market.
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Top Companies Featured in This Report:
β 3M
β Henkel AG & Co.
β KGaA
β ITW Polymers Sealants
β H.B. Fuller Company
β PPG Industries Inc.
β RPM International Inc.
β Sika
β Bostik
β Premier Building Solutions
β Dow
Market Segmentation:
By Product Type:
β By Type: EVA Latex Sealant, Acrylic Latex Sealant, Others
By Applications:
β By Application: Residential building, Commercial Building, Others
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Trends in Navigation Keyword Market:
Market Growth: Expect significant expansion in the navigation keyword market, with a projected Compound Annual Growth Rate (CAGR) of 14.65% from 2024 to 2031.
Increasing Demand: Notice a surge in demand for navigation keywords due to the widespread adoption of GPS-enabled devices and the need for precise mapping data.
Technological Innovations: Witness innovative breakthroughs enhancing the accuracy and reliability of navigation keywords, such as real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions: Explore industry-specific navigation keyword solutions designed to meet the unique needs of automotive, aviation, and maritime sectors.
Integration with Advanced Technologies: Embrace the integration of navigation keywords with cutting-edge technologies like artificial intelligence and the Internet of Things, unlocking advanced functionalities.
Mobile Applications: Embrace the convenience and accessibility of navigation keywords through mobile applications, catering to the evolving needs of consumers.
Environmental Sustainability: Embrace environmentally conscious navigation keyword solutions that address issues like traffic congestion and air quality, promoting sustainable transportation options.
Report Highlights:
π Examination of navigation keyword market share at both country and regional levels
π Thorough analysis of the competitive landscape and emerging trends
π Detailed review of product advancements, technological developments, drivers, and limitations
π Strategic recommendations tailored for key business segments based on market insights
π Valuable guidance for newcomers venturing into the navigation keyword market
Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5515
Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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