Global Construction Silicone Sealants Market Expected to Grow at a CAGR of 5.2% during the forecast period 2019-2024- Axiom MRC

Axiom Market Research & Consulting added a, “Global Construction Silicone Sealants Market Research Report, By Sector, Application And Geography – Global Market Share, Trend Analysis And Forecast Up To 2024”.

The global construction silicone sealants market has been segmented based on sector, application and geography. Based on type of sector, the construction silicone sealants are classified as residential, commercial, and industrial. Based on applications, construction silicone sealants market is segmented as interior and exterior. Exterior emerged as the largest application segment in 2017 and is estimated to grow substantially over the forecast period. This segment is projected to grow at a CAGR of 5.6% from 2019 to 2024. Other application segments are also expected to showcase significant growth thereby boost the demand for construction silicone sealants over the forecast period from 2018 to 2024. Based on geography, the global construction silicone sealants market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Manufacturers are increasingly pushing the development of bio-based sealants, which is expected to provide new opportunities for the growth of global silicone sealants market. The demand for low volatile organic compounds and green & sustainable sealants is expected to create lucrative growth opportunities for the market in the world over the forecast period. However, the market growth is restrained by harmful environmental effects of sealants. Products, such as sealants, coatings, and paints, emit volatile organic compounds owing to the chemical composition and chemicals that are utilized to make them water repellent. These chemicals engage in photochemical reaction with the atmosphere. The carbon compounds are harmful to the environment and contribute toward atmospheric changes and instability.

The global construction silicone sealants market is led by leading manufacturers such as 3M Co. (U.S.), Bostik (France), Dow corning (U.S.), DAP products (U.S.), Franklin International (U.S.), Henkel (Germany), ITW (U.S.), SIKA (Switzerland), Wacker Chemie (Germany), H.B. Fuller (U.K.), among others.

Request for Sample@ http://axiommrc.com/contact-us/

Most end users in the construction industry prefer organic sealants in order to reduce their upfront project costs as silicone sealants are expensive. Sealants play a vital role in sealing gaps between joints to prevent leakages. Hence, the selection of cheaper variants of sealant can degrade the overall durability of the construction and require more expenditure over the maintenance costs. There is an increased awareness among distributors and customers regarding the benefits offered by silicone sealants in exterior applications, which in turn is leading to higher demand for the overall market. The chemical and physical properties of silicone sealants are anticipated to improve on account of increased investments by key players in the research and development of the product to attain a competitive advantage in the market. Construction silicone sealants market is expected to reach over US$ 285.2 Mn by 2024, growing at a CAGR of more than 5.2% during the forecast period 2019-2024

Axiom Market Research & Consulting was founded with a sole intention of providing companies with key actionable data to help them take informed business decisions pertaining to their investments, marketing strategies, market competition, new product launches etc.

Axiom MRC believes that for being able to take good strategic decisions or for business planning, companies need to understand and interpret the current market scenarios correctly. Axiom MRC follows a scientifically developed research methodology where the end to end value chain of the industry vertical is studied. Axiom MRC's research methodology helps to extract, analyze and compare markets along with peer markets, main or parent market, application and end user industries, competitive landscape and qualitative figures to arrive at market numbers. Axiom MRC also validates the market findings with key industry professionals and its client network and takes their opinion into consideration. The key findings are presented with smart infographics for better and easy understanding.

Backed by a team of experienced senior analyst, who have worked with leading research firms and delivered number of market research projects globally, Axiom MRC is able to cater to all market research and business consulting requirements. Axiom MRC offers business consulting, syndicated and custom market research reports across various industry verticals such as life science, chemicals & materials, food & beverages, packaging, agriculture, power & energy.

Axiom Market Research & Consulting
616 Corporate Way, Suite 2-4268
Valley Cottage, NY 10989
Telephone: +1 (845) 875-9786
Email: sales@axiommrc.com

This release was published on openPR.