Marine Sealants Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023
Dover, DE -- (SBWIRE) -- 05/11/2016 -- Marine sealants market size is anticipated to witness significant growth owing to technology advancement accompanied by increasing trend for more sustainable products. Growth in the shipbuilding industry owing to government support on the export and import sector is likely to positively influence the marine sealants market size.
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Sealants market size was more USD 6 billion in 2015. Strong construction and transportation growth indicators expected to drive consumption in the coming years. Sealants market demand was estimated at more than 1,750 kilo tons in 2015 and is expected to surpass 2,200 kilo tons over the forecast period.
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Marine sealants find applicability for forming an airtight and watertight seal between two or more surfaces. Some products give an adhesive bond and others are used to separate one surface from another against noise, electrolysis, and vibration. These products provide a tough, rubbery consistency, sticking and flexibility to surfaces to prevent air or water from penetrating. This joint is permanently flexible; it can survive some surfaces movement to which they are attached without losing adhesion. Raw materials supply plays a critical role in marine sealant market price trend.
Growth in the shipbuilding industry is likely to drive marine sealants market size. Shipbuilding market size was upwards of USD 255 billion in 2015 and is predicted to generate revenue of over USD 275 billion, with estimated gains of more than 1.2% from 2016 to 2023.
Increase in defense budget in order to have advanced and updated products is among the key driving factors. Commercial segment consists of cruise ship operators and bulk-shipping companies, strong commercial vessel market and growth in seaborne trade are anticipated to fuel marine sealants market demand. Consumer market includes leisure boats which have higher sales volume.
Applications are categorized into bedding deck and ship, above the waterline sealing, and below the waterline sealing. Each application needs different products which are segmented into polyurethane, silicone, polysulfide, and butyl.
Polyurethane possesses permanent and strong adhesion strength; it can be applied on both above and below the waterline application. This product is recommended for permanent bonding due to its gluing strength. This product is expected to witness notable growth owing to its utility in ship building infrastructure. However, it is not compatible with plastic materials and is not recommended to be used if the attached items may have to be segregated in the future.
Polysulfide caulking products are less adhesive as compared to polyurethane and more elastic and flexible. They can be used in both above and below the waterline applications, and are preferred where hardware sealing has to be re-bedded more often. Polysulfide is excellent for bedding wooden items which includes rubrails and cockpit coamings, due to its adhesives properties with teak. They are recommended for use only on delrin, acetal, nylon, and marelon fittings, as they are likely to attack common plastics such as polycarbonate and acrylic.
Silicone caulking products are recommended for separating unrelated metals as they are extremely chemical resistant in nature. This product is required to keep under compression and have minimum thickness in order to work properly. Silicon products can be used in above the waterline and water tanks sealing application. Some silicone-based products are acid-curing and suggested not to be used on metal. They are differentiated by the strong vinegar smell caused by acetic acid.
Butyl rubber glazing tape is usually used in bedding deck hardware where a certain amount of movement is unavoidable. It possesses strong materials compatibility with all caulking product and is suggested for any hardware above the water line. This product is expected to witness significant growth due to its high compatibility and less expensive nature. Since it is the weakest adhesion type and easily affected by other chemicals, it is not recommended to use below the waterline.
Global marine sealants market share is comprised of 3M, Henkel AG & Company, Bostik Ltd., Illinois Tool Works Inc, H.B. Fuller, Avery Dennison, Sika AG, Franklin International, Royal Adhesives & Sealants, and RPM International Inc.