Elastomeric Sealants are elastic and flexible bonding materials used for sealing, finishing, and surface protection. They offer excellent durability, flexibility, adhesions, and heat resistance which are essential in various applications such as, roof building, cladding, and marble work, among others.
The Global Elastomeric Sealants Market is driven by the increasing demand from various end-use industries such as building & construction, automotive & transportation, electronics, and woodworking among others. Among the aforementioned end-use industries, the building & construction segment accounts for the major market share and is expected to retain its dominance due to the growing infrastructural projects across the globe. The market is also segmented on the basis of type as silicone, polysulfide, polyurethanes, silane modified polymers, and others. Among these, the silane-modified polymers (SMP) is leading segment of the market due to its properties such as elasticity, paint compatibility, UV resistance, and adhesion to wet surface among others. Although, the silane-modified polymers offers excellent properties, it is very expensive. This may hamper the market growth over the forecast period. Nevertheless, the silicone type is gaining traction in the market owing to the ease of availability and low cost. The Polyurethanes Elastomer Sealant are widely consumed in sealing industrial equipment due to their properties such as high elasticity, abrasion resistance, tear strength, chemical resistance, and wide temperature compatibility which may further propel the market growth over the assessment period. However, the increasing use of foam tapes in construction activities and several regulations regarding the VOC content of Elastomeric Sealant might constrain the market growth.
Competitive Analysis
Some of the manufacturers operating in the Global Elastomeric Sealants Market are 3M (U.S.), The Dow Chemical Company (U.S.), Henkel AG & Co. KGaA (Germany), Arkema (France), Sika AG (Switzerland), H.B. Fuller Company (U.S.), RPM International Inc. (U.S.), PPG Industries, Inc. (U.S.), VCM Polyurethanes Pvt. Ltd. (India), Wacker Chemie AG (Germany), Mapei SpA (Italy), and KCC CORPORATION (South Korea).
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Market Segmentation
The Global Elastomeric Sealants Market is segmented on the basis of the type, end-use industries, and region.
By the Type Segment, the Global Elastomeric Sealants Market is further segmented into silicone, polysulfide, polyurethane; silane modified polymers (SMP), polybutadiene, and others.
On the Basis of the End-User Industries, the market is sub-segmented into building & construction, automotive, electronics, furniture making, aerospace & defense, marine, and others.
The Global Elastomeric Sealants Market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
The Global Elastomeric Sealants Market is segmented into five regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific is the fastest emerging region on account of the growing building & construction projects in this region.
North America accounts for a considerable market share due to the leading aerospace & defense industry in the region and the rebound in the housing market in the U.S.
The production and exportation of lightweight and efficient automotive are the major driver of the European market.
The huge investments in growing infrastructure in GCC are the primary driver of the market in the Middle East & Africa region.
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