The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research (PMR), in its recent report provides conclusive information on the global polysulfide sealants market and offers complete information through extremely structured market research. The report evaluates the polysulfide sealants market and anticipates the future market scenario on the basis of forms, applications, and regions. According to the information contained in the report, 2 component polysulfide sealants are noted to account for the main proportion of the market in terms of market value and market volume. Accounting for over 70% proportion of the consumption in the global polysulfide sealants market, 2 component polysulfide sealants are noted to remain prominent across a range of applications.
Applications wise, the consumption of polysulfide sealants is anticipated to account for an equivalent proportion in the civil engineering and commercial applications. Over the forecast period, these applications are anticipated to collectively consume almost 3/4th of the market proportion while also registering a faster growth.
On the regional front, the East Asia polysulfide sealants market is observed to be the top consuming market with similar trend followed over the forecast period. Following the region are the mature markets of North America and Europe, collectively generating a $ opportunity worth nearly US$ 200 Mn over the forecast period. Countries such as China and India are identified as emerging markets in the polysulfide sealants applications, owing to the fast-paced construction activities in these countries. With the market structure being fragmented, the overall sealants market follows a track to market consolidation and the same tendency can be expected in the polysulfide sealants market in the coming years. The global polysulfide sealants market was worth over a billion US$ by the end of 2018 and expanding with a significant growth rate. The market is expected to create sizeable opportunities throughout the forecast period.
Increasing Demand for Polysulfide Sealants in the Civil Engineering Segment to Boost the Market Growth over the Forecast Period
Polysulfide sealants, particularly, 2 component systems find a wide application in the civil engineering segment comprising of bridges, roads, and tunnels. The limited land availability for setting roads is one of the prime factors contributing to the construction of overhead bridges and underwater and/or land tunnels. With the commercial segment consuming a comparable amount of polysulfide sealants as compared to the civil engineering segment, the construction of airport runways, its maintenance, construction of car parking facilities, and other industrial applications are anticipated to help the segment emerge as a fast growing segment over the forecast period. The application of polysulfide sealants in building structures has been primarily driven by the installation of insulated glasses on the exterior of high and low rise building structures known as curtain walling. The floor and wall segment is also anticipated to contribute significantly to the civil engineering segment’s overall market growth.
The East Asia market is observed to be one of the prominent markets of polysulfide sealants, owing to the large scale construction activities in countries such as China. The emergence of China as a frontrunner in the global polysulfide sealants market makes it one of the rapidly growing country in the polysulfide sealants market. Following East Asia, North America and Europe are amounting for a sizeable proportion in the global market. With a significant growth observed in the global polysulfide sealants market, it is anticipated to register an incremental $ opportunity worth over US$ 500 Mn throughout the forecast period.
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