Albany, NY -- (SBWIRE) -- 12/10/2018 -- Polyurethane sealants are moisture cured sealants that possess quick drying time. They are resistant to corrosion, chemical, and moisture. Polyurethane sealants are composed of polyurethane polymer, pigments, fillers, and additives. They are used in various industries such as automotive and building & construction. Polyurethane sealants are used for sealing joints in walls and floors. They are also used on concrete, wood, and metal. They are also employed in sealing and bonding fiberglass panels. They are used for sealing expansion joints in civil engineering structures. Additionally, polyurethane sealants are used to seal automotive interiors, assembly of shoes, textile laminates, and windshield bonding. Polyurethane sealant is one of the preferred materials in wood coating application due to its excellent scuff and abrasion resistance.
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Based on product type, the polyurethane sealants market can be bifurcated into one component polyurethane sealants and two component polyurethane sealants. One component polyurethane sealants is a leading segment, which is expected to expand at a significant pace during the forecast period. One component polyurethane sealant system comprises pre-polymer, which is reacted with polyol with excess of diisocyanate, which further reacts with moisture from the air to produce cured polyurethane. One component polyurethane sealants are primarily used in plumbing and sealing roofs and electrical cable. Based on end-user, the market can be segregated into building & construction, automotive, industrial, and marine. Building & construction is one of the leading end-user segments of the polyurethane sealants market, as these sealants are highly elastic, resilient, weather durable, non-sagging, and watertight with excellent adhesion to most building and construction materials. These sealants play an important role in repair and renovation of residential, commercial, and industrial buildings.
Rise in demand for high performance materials with esthetic appeal and high moisture resistance is driving the polyurethane sealants market. High standard of living, due to increase in disposable income, in developing economies such as China, India, Brazil, and Mexico is boosting the demand for customized sealants that come in different colors to match the color of the substrate. Fluctuation in prices of raw materials such as toluene diisocyanate (TDI), succinic acid, polyols, and methylene diphenyl diisocyanate (MDI) is hampering the market. However, rise in consumer interest toward bio-based polyurethane sealants with low VOC emission is expected to provide lucrative opportunities to manufacturers of polyurethane sealants in the near future.
Geographically, the global polyurethane sealants market can be segregated into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the polyurethane sealants market during the forecast period primarily due to the significant economic growth and increase in construction activities in developing economies such as India, China, and Vietnam in the region. North America and Europe are comparatively mature regions of the market. The polyurethane sealants market in these regions is anticipated to expand at a sluggish pace during the forecast period. The polyurethane sealants market in countries in Eastern Europe such as Russia and Ukraine is projected to expand significantly during the forecast period. This is primarily due to the rise in import and capacity expansion by various key players in the region. Middle East & Africa and Latin America also possess significant growth potential due to high investment in infrastructure development in these regions.
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Major players operating in the polyurethane sealants market are The Dow Chemical Company, BASF SE, Bayer, Huntsman Chemical Corporation, and Covestro AG. These companies are actively investing in strategies such as acquisitions, new product developments, and global expansion of projects to increase their market share.