Global Structural Sealant Market Information- by Type (Silicone, Epoxy, Polyurethane, Acrylic, and Others), by End Use Industry (Building & Construction, Marine & Aerospace, Automotive, General Industry and Others) and by Region- Forecast till 2023
Pune, India -- (SBWIRE) -- 11/01/2017 -- Structural Sealant exhibits adhesive properties and are those materials which are used to block the passage of fluids through the surface or joints or openings in materials. It is considered a type of mechanical seal. Structural Sealants find wide application scope in various end use industries such as general industry, automotive, building & construction, marine & aerospace, wind energy, and rubber industry owing to its superior durability against extreme weather condition, thermal stability, excellent tensile strength, and high tear strength.
Increasing demand from general industry as well as improving marine & aviation sector drives the growth of the market. Speedy growth of building & construction sector is expected to drive the market for Structural Sealant over the forecast period. Furthermore, increasing per capita disposable income, constant urbanization, and improved living standards are estimated to remain the major driving factors for Structural Sealant demand during the review period. Robust investments in the ongoing research & development projects by the manufacturers and relatively higher acceptance within the end use industries is set to positively influence business outlook. However, stringent regulations imposed by government bodies regarding the emission rate of volatile organic compound is expected to hamper market growth. Most of the raw material are petroleum based derivatives and are susceptible to fluctuation in material price, thus the aforementioned reason might affect the growth of market.
The major players operating in the Structural Sealant Market include BASF SE (Germany), Asian Paints Limited (India), Pidilite Industries Limited (India), Roberlo (Spain), AKEMI (Germany), Chemence (UK), H.B. Fuller (U.S.), Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Henkel Ltd., Hemel Hempstead (UK), PPG Industries, Inc. (U.S.), 3M (U.S.), LORD Corporation.(U.S.), and others.
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Structural Sealant Market is segmented on the basis of type and end use industry. On the basis of type, structural sealant market is segmented into silicone, epoxy, polyurethane, acrylic, and others. Silicone and epoxy hold the largest market share owing to their improved properties which enhance their consumption in numerous end use industries. On the basis of end use industry, the market is segmented into building & construction, marine & aerospace, automotive, general industry and others. Building & construction has captured the largest market share among other end use industries due to rising domestic, institutional, and commercial activities across the globe. In building & construction they are generally used in sealing curtain walls, outdoor application, and in expansion joints. Moreover, they are widely utilized in glass building construction, as large sheets installed in these building require sealant in the panel to achieve a weather resistant structure. Furthermore, silicone and polyurethane structural sealant are commonly used in automotive sector. Polyurethane sealants offer excellent stress recovery to retain shape after being bent or stretched. They provide fast curing rates and adherence to non-primed surfaces. Additionally, they protect the surfaces against impacts, shocks, aging, and abrasion. Apart from this, gradually increasing demand from the aviation industry is also helping driving revenues in the Global Structural Sealant Market.
Asia Pacific is predicted to be the largest market for Structural Sealant followed by North America and Europe, on account of increasing demand from building & construction, automotive, and general industry among others. Emerging countries such as India, China, Vietnam, and Malaysia are the fastest growing market for Structural Sealant, and is estimated to grow with the same pace in the near future. North America Structural Sealant Market is expected to witness a substantial growth with U.S. and Canada being major contributors due to growth of end use industries such as marine & aerospace and wind energy. Europe is anticipated to witness a steady growth over the review period due to growing demand for Structural Sealant in construction sector, specifically in Germany, Spain, and UK.
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Key Points from Table of Contents:
11. Company Profiles
11.1 BASF SE
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Updates
11.1.4 Key Developments
11.2 Asian Paints Limited
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.2.4 Key Developments
11.3 Pidilite Industries Limited
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.3.4 Key Developments
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.4.4 Key Developments
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