Abstract
Summary
The construction sealants market is projected to grow from USD 4.7 billion in 2023 to USD 5.7 billion by 2028, at a CAGR of 3.6% between 2023 and 2028. The key factor driving the growth of the market is the high demand for construction sealants in the emerging markets of Asia Pacific due to the significant growth of the construction industry.
“ Silicone is estimated to be the largest resin type segment of the construction sealants market.”
Silicone sealants are the largest resin type in the market, primarily due to their excellent mechanical properties, such as elasticity, tensile strength, ultimate elongation, and tear resistance. Silicone sealants are the most versatile, with a wide range of properties, including low thermal conductivity, low chemical reactivity, low toxicity, and thermal stability. The significant ones include weather, heat and microbial resistance, water and vapor permeability, and resistance to extreme temperatures.
“ Glazing application segment is forecasted to be the fastest-growing of the construction sealants market.”
The rising demand for sealants from the glazing application can be attributed to the increasing requirement for residential housing, theme parks, hotels, and other commercial centers in developed nations for new work, renovation, maintenance, and repairs. Additionally, the rising demand for sanitary & kitchen applications, especially in emerging countries such as India, China, Indonesia, Qatar, Bangladesh, and Vietnam, is increasing the demand for construction sealants.
“Asia Pacific is forecasted to be the fastest-growing construction sealants market during the forecast period.”
Asia Pacific is the largest construction sealants market globally because the market demand in Asia Pacific is expected to increase in the next five years. Development in both the residential and non-residential sectors is likely to drive the demand for construction sealants in this region, especially in China and India, during the forecast period. China is the main driving force behind the fast expansion of the construction sealants market not only in the Asia Pacific region but also across the globe.
Breakdown of Primary Interviews:
• By Company Type: Tier 1 – 42%, Tier 2 – 25%, and Tier 3 – 33%
• By Designation: C Level – 36%, D Level – 19%, and Others – 45%
• By Region: North America – 25%, Europe – 42%, Asia Pacific – 17, South America- 8%, and the Middle East & Africa – 8%
The key companies profiled in this report are 3M (US), Arkema (France), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and H.B. Fuller (US).
Research Coverage:
The Construction sealants market has been segmented based on Resin Type (Silicone, Polyurethane, Polysulfide, and Others), by Application (Glazing, Flooring & Joining, Sanitary & Kitchen, and Others), by End-use Industry (Residential, Commercial, Industrial, and Infrastructural) and by Region (Asia Pacific, North America, Europe, South America, and Middle East & Africa).
This report provides insights on the following pointers:
• Analysis of key drivers, restraints, opportunities, and challenges influencing the growth of the construction sealants market.
• Product Development/Innovation: Detailed insight into upcoming technologies, research & development activities, and new product launch in the construction sealants market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the construction sealants market across varied regions.
• Market Diversification: Exclusive information about new products & services, untapped geographies, recent developments, and investments in the construction sealants market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like 3M (US), Arkema (France), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and H.B. Fuller (US), among other in the construction sealants market.
Table of Contents
1 INTRODUCTION 37
1.1 STUDY OBJECTIVES 37
1.2 MARKET DEFINITION 37
1.3 MARKET SCOPE 38
1.3.1 REGIONS COVERED 38
1.3.2 YEARS CONSIDERED 39
1.4 CURRENCY CONSIDERED 39
1.5 UNIT CONSIDERED 39
1.6 STAKEHOLDERS 39
1.7 SUMMARY OF CHANGES 40
2 RESEARCH METHODOLOGY 41
2.1 RESEARCH DATA 41
2.1.1 SECONDARY DATA 42
- 2.1.1.1 Key data from secondary sources 42
2.1.2 PRIMARY DATA 43
- 2.1.2.1 Key data from primary sources 43
- 2.1.2.2 Key industry insights 44
- 2.1.2.3 Breakdown of primary interviews 44
2.2 MARKET SIZE ESTIMATION 45
2.2.1 BOTTOM-UP APPROACH 45
2.2.2 TOP-DOWN APPROACH 46
2.3 DATA TRIANGULATION 47
2.4 FACTOR ANALYSIS 48
2.5 IMPACT OF RECESSION 48
2.6 ASSUMPTIONS 48
2.7 LIMITATIONS 49
2.8 GROWTH RATE FORECAST 49
3 EXECUTIVE SUMMARY 50
4 PREMIUM INSIGHTS 56
4.1 GROWTH OPPORTUNITIES FOR PLAYERS IN CONSTRUCTION SEALANTS MARKET 56
4.2 CONSTRUCTION SEALANTS MARKET, BY RESIN TYPE 56
4.3 CONSTRUCTION SEALANTS MARKET, DEVELOPED VS. EMERGING COUNTRIES 57
4.4 ASIA PACIFIC: CONSTRUCTION SEALANTS MARKET, BY APPLICATION AND KEY COUNTRY 57
4.5 CONSTRUCTION SEALANTS MARKET, BY APPLICATION 58
4.6 CONSTRUCTION SEALANTS MARKET, BY END-USE INDUSTRY 58
4.7 CONSTRUCTION SEALANTS MARKET ATTRACTIVENESS 59
5 MARKET OVERVIEW 60
5.1 INTRODUCTION 60
5.1.1 FOUR BASIC FUNCTIONS OF SEALANTS 60
5.1.2 IMPORTANCE OF SEALANTS 60
5.1.3 ADVANTAGES OF CONSTRUCTION SEALANTS 61
5.1.4 DISADVANTAGES OF CONSTRUCTION SEALANTS 61
5.2 MARKET EVOLUTION 62
5.3 MARKET DYNAMICS 62
5.3.1 DRIVERS 63
- 5.3.1.1 Increased demand for construction sealants in housing and infrastructure sectors 63
- 5.3.1.2 Rising demand from emerging countries 63
- 5.3.1.3 Construction sealants provide safety and ease of application 64
- 5.3.1.4 Rising demand for glazing and panels in new high-rise buildings 64
5.3.2 RESTRAINTS 64
- 5.3.2.1 Environmental regulations in North American and European countries 64
5.3.3 OPPORTUNITIES 65
- 5.3.3.1 Growing demand for low-VOC, green, and sustainable sealants 65
5.3.4 CHALLENGES 65
- 5.3.4.1 Health hazards during manufacture of construction sealants 65
5.4 PORTER’S FIVE FORCES ANALYSIS 66
5.4.1 THREAT OF SUBSTITUTES 66
5.4.2 BARGAINING POWER OF BUYERS 67
5.4.3 THREAT OF NEW ENTRANTS 67
5.4.4 BARGAINING POWER OF SUPPLIERS 67
5.4.5 INTENSITY OF COMPETITIVE RIVALRY 68
5.5 MACROECONOMIC INDICATORS 69
5.5.1 TRENDS AND FORECASTS OF GDP 69
5.5.2 TRENDS AND FORECASTS OF GLOBAL CONSTRUCTION INDUSTRY 70
6 CONSTRUCTION SEALANTS MARKET, BY RESIN TYPE 72
6.1 INTRODUCTION 73
6.2 SILICONE 75
6.2.1 INCREASING CONSTRUCTION ACTIVITIES TO DRIVE MARKET 75
6.2.2 ONE-COMPONENT 75
6.2.3 TWO-COMPONENT 75
6.3 POLYURETHANE 77
6.3.1 HIGH INSULATION AND SUSTAINABILITY TO DRIVE MARKET 77
6.3.2 ONE-COMPONENT 77
- 6.3.2.1 Moisture cured 77
- 6.3.2.2 Heat cured 77
6.3.3 TWO-COMPONENT 77
6.4 POLYSULFIDE 79
6.4.1 CHEMICAL RESISTANCE TO FUEL DEMAND FOR POLYSULFIDE SEALANTS 79
6.4.2 ONE-COMPONENT 79
6.4.3 TWO-COMPONENT 79
6.5 OTHER RESIN TYPES 81
7 CONSTRUCTION SEALANTS MARKET, BY APPLICATION 84
7.1 INTRODUCTION 85
7.2 GLAZING 87
7.2.1 INVESTMENTS IN NEW INFRASTRUCTURE TO DRIVE MARKET 87
7.3 FLOORING & JOINING 89
7.3.1 RISE IN INFRASTRUCTURAL PROJECTS TO DRIVE MARKET 89
7.4 SANITARY & KITCHEN 91
7.4.1 FLEXIBILITY AND ENVIRONMENTAL RESISTANCE TO DRIVE MARKET 91
7.5 OTHER APPLICATIONS 93
8 CONSTRUCTION SEALANTS MARKET, BY END-USE INDUSTRY 95
8.1 INTRODUCTION 96
8.2 RESIDENTIAL 97
8.2.1 ENERGY EFFICIENCY AND LOW MAINTENANCE COSTS TO INCREASE DEMAND FOR CONSTRUCTION SEALANTS 97
8.3 NONRESIDENTIAL 99
8.3.1 NEED FOR LARGE DISTRIBUTION AND FULFILLMENT CENTERS TO DRIVE MARKET 99
8.4 COMMERCIAL & INFRASTRUCTURE 101
8.4.1 INFRASTRUCTURE DEVELOPMENT IN EMERGING ECONOMIES TO DRIVE MARKET 101
9 CONSTRUCTION SEALANTS MARKET, BY REGION 104
9.1 INTRODUCTION 105
9.1.1 GLOBAL RECESSION OVERVIEW 105
9.2 ASIA PACIFIC 108
9.2.1 RECESSION IMPACT 108
9.2.2 CHINA 115
- 9.2.2.1 Rise in foreign investments to drive market 115
9.2.3 JAPAN 117
- 9.2.3.1 Investments in commercial reconstruction to boost demand for construction sealants 117
9.2.4 INDIA 119
- 9.2.4.1 Boom in real estate industry to drive market 119
9.2.5 INDONESIA 120
- 9.2.5.1 Foreign investments in residential construction to drive market 120
9.2.6 THAILAND 122
- 9.2.6.1 Increasing awareness about architectural coating products to drive market 122
9.2.7 MALAYSIA 124
- 9.2.7.1 Heavy infrastructure investments to drive market 124
9.2.8 SOUTH KOREA 125
- 9.2.8.1 Increasing construction activities to drive market 125
9.2.9 REST OF ASIA PACIFIC 127
9.3 EUROPE 129
9.3.1 RECESSION IMPACT 130
9.3.2 GERMANY 136
- 9.3.2.1 Favorable economic environment to increase demand for construction sealants 136
9.3.3 ITALY 138
- 9.3.3.1 New project finance rules and investment policies to drive market 138
9.3.4 FRANCE 139
- 9.3.4.1 Favorable demographic trends to fuel market 139
9.3.5 UK 141
- 9.3.5.1 Growth of construction sector to drive market 141
9.3.6 TURKEY 142
- 9.3.6.1 Robust macroeconomic growth to drive market 142
9.3.7 RUSSIA 144
- 9.3.7.1 Population growth to fuel demand for construction sealants in residential construction 144
9.3.8 SPAIN 145
- 9.3.8.1 Adoption of advanced technology to fuel demand for construction sealants 145
9.3.9 REST OF EUROPE 147
9.4 NORTH AMERICA 148
9.4.1 RECESSION IMPACT 148
9.4.2 US 154
- 9.4.2.1 Growth of private residential and nonresidential construction to boost market 154
9.4.3 CANADA 156
- 9.4.3.1 Foreign trade to fuel demand for construction sealants 156
9.4.4 MEXICO 158
- 9.4.4.1 Investments in commercial infrastructure to drive market 158
9.5 SOUTH AMERICA 159
9.5.1 RECESSION IMPACT 160
9.5.2 BRAZIL 165
- 9.5.2.1 Rising living standards and easier credit availability to fuel market 165
9.5.3 ARGENTINA 167
- 9.5.3.1 Improved economic conditions to drive market 167
9.5.4 COLOMBIA 168
- 9.5.4.1 Demographic shifts and urbanization to drive market 168
9.5.5 REST OF SOUTH AMERICA 170
9.6 MIDDLE EAST & AFRICA 171
9.6.1 RECESSION IMPACT 171
9.6.2 SAUDI ARABIA 177
- 9.6.2.1 Mega housing projects to boost demand for construction sealants 177
9.6.3 UAE 179
- 9.6.3.1 New infrastructural development to drive market 179
9.6.4 EGYPT 180
- 9.6.4.1 New residential projects to fuel demand for premium coatings 180
9.6.5 REST OF MIDDLE EAST & AFRICA 182
10 COMPETITIVE LANDSCAPE 184
10.1 OVERVIEW 184
10.2 COMPANY EVALUATION MATRIX, 2022 185
10.2.1 STARS 185
10.2.2 EMERGING LEADERS 185
10.2.3 PERVASIVE PLAYERS 185
10.2.4 PARTICIPANTS 185
10.3 STRENGTH OF PRODUCT PORTFOLIO 187
10.4 MARKET SHARE ANALYSIS 188
10.4.1 HENKEL AG & CO. KGAA 189
10.4.2 SIKA AG 189
10.4.3 ARKEMA 189
10.4.4 H.B. FULLER 189
10.4.5 3M 189
10.5 STRATEGIC DEVELOPMENTS 190
11 COMPANY PROFILES 198
11.1 KEY PLAYERS 198
11.1.1 3M 198
11.1.2 ARKEMA 202
11.1.3 SIKA AG 208
11.1.4 HENKEL AG & CO. KGAA 214
11.1.5 H.B. FULLER 219
11.1.6 BASF SE 224
11.1.7 THE DOW CHEMICAL COMPANY 227
11.1.8 WACKER CHEMIE AG 230
11.1.9 GENERAL ELECTRIC COMPANY 234
11.1.10 KONISHI CO., LTD 237
11.2 OTHER PLAYERS 240
11.2.1 MAPEI CORPORATION 240
11.2.2 ASIAN PAINTS LIMITED 242
11.2.3 KCC CORPORATION 243
11.2.4 PIDILITE INDUSTRIES LIMITED 244
11.2.5 FRANKLIN INTERNATIONAL 245
11.2.6 HOLCIM LTD 249
11.2.7 SOUDAL N.V 250
11.2.8 SELENA FM S.A 253
11.2.9 HODGSON SEALANTS (HOLDINGS) LTD 254
11.2.10 PECORA CORPORATION 255
11.2.11 THE EUCLID CHEMICAL COMPANY 256
11.2.12 DEVAN SEALANTS, INC 257
12 APPENDIX 258
12.1 DISCUSSION GUIDE 258
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 261
12.3 CUSTOMIZATION OPTIONS 263
12.4 RELATED REPORTS 263
12.5 AUTHOR DETAILS 264