Hyderabad, India – Elastomeric Sealants Market is expected to reach a value of $5.4 billion by the end of the year 2026 after growing at a CAGR of 5.7% during the forecast period from 2021-2026 according to IndustryArc. The increase in demand in construction and automotive industry, have eventually led to the market for elastomeric sealants, as it is one of the key use industries of elastomeric sealants. Elastomeric sealant is also extensively used in infrastructure industry, which has surged the demand for elastomeric sealants. Various types of elastomeric sealants such as silicone emulsions, acrylate dispersion and silane modified polymer. Silicone emulsions are extensively used as release agents and lubricants in food trays and plastic serving dishes, as it helps in improving protection, resistance, gloss and spread-ability. Acrylate dispersions are helpful in providing hardness, chemical resistance and corrosion inhibition. Further the increase in demand for elastomeric sealants from automobile industry is driving the elastomeric sealants market.
The professional type segment held the highest share in the elastomeric sealants market in the year 2020. This is due to the obvious reason that professional sealant has comparatively better design and technology. Though there are many DIY sealants which can be done domestically with cottage industry resources, it is common for it to lack proper design, technology and installation which could be a hindrance to the performance of the sealant.
Concrete held the highest share in the elastomeric sealants market in the year 2020. The main reason being, it gives flexibility and sturdiness. It also helps in filling the gaps between concrete and other materials. It can be used on any material, but concrete held the highest share since the end user industry building and construction held the largest share and therefore, the sealants are extensively used in concrete.
The silicon segment held the highest share in the elastomeric sealants market in the year 2020. Elastomeric sealant provides advantages such as paint compatibility, heat resistance and UV resistance, which is widely preferred in key end-use industries such as building & construction industry and automobile industry. These sealants are also wisely used in ventilation and air conditioning system.
The construction industry held the highest share in the elastomeric sealants market in the year 2020. Rising disposable income and the increase in construction activities are the major drivers for the increase in demand for elastomeric sealants in the construction industry. The investment in infrastructure is estimated to be around 100 million dollars in the upcoming year 2022 in the APAC region, which is expected to develop the construction sector which in turn will lead to an increase in the demand for elastomeric sealants. The automotive industry is also closely followed the construction industry in terms of demand for elastomeric sealants. This could be associated to the increase in demand for waterproof sealants for windscreen frames, and to seal & protect the interior of vehicles from cracks and leaks.
Asia Pacific region held the highest share in the elastomeric sealants market in 2020. The Asia Pacific market is estimated to grow at a substantial rate in the upcoming years. The major factor contributing to the increased demand for elastomeric sealant in this region is the rapid rise in urbanization in emerging countries such as India and China. In addition to this, the increase in government investments in infrastructure development is also driving the market. North American region also closely followed the APAC region, the increase in demand for elastomeric sealants in this region is due to the rapid growth in aerospace and defense industry.
The rapid growth in the automotive industry, which can be associated to the electrification of the sector and the introduction of self-driving cars is surging the demand for elastomeric sealants and is estimated to grow at a robust rate in the upcoming years. This has greatly expanded the scope for elastomeric sealants in the market.
The increase demand for elastomeric sealants in construction industry has been growing in the recent years. The sealants have been used for various uses in construction activities such as air leakage, insulation, sealing cracks, etc. The construction industry is estimated to grow at a CAGR of 6% in the next few years and the recent development in construction industry has eventually increased the demand for elastomeric sealants and related products as well.
Innovation, expansions, new product launches, acquisitions, and mergers are some of the key strategies adopted by players in the Elastomeric Sealants Market. Major players in the Elastomeric Sealants Market are H.B. Fuller Company, Tremco Incorporated, VCM Polyurethanes Pvt. Ltd, The Dow Chemical Company, Chemence, 3M Company, Arkema, Henkel, RPM International and KCC Corporation among others.