Market Research Future (MRFR) studied the global Elastomeric Sealants Market 2020 for the assessment tenure till 2027. According to MRFR findings, the global elastomeric sealants market is expected expand at 5.92?GR during the review tenure. By 2027, the elastomeric sealants market value can touch USD 5.52 Bn.
Elastomeric Sealants Market Dynamics
Elastomeric sealants are bonding materials that are applied for finishing, protecting, and sealing surfaces. They expand and seal the surface, thus create a waterproof barrier on application to crack or space. Elastomeric property is the ability of a material to elongate under stress and return to its original size and shape on the removed of when stress. Elastomeric sealants hold advanced properties of controlling moisture. An elastomeric sealant is applied on different surfaces that includes cladding, steel, roads, windows, glass, stones, bridges, wood, metal, and concrete among others. Elastomeric sealants are easy to handle and are durable owing to its elastic texture that dries and maintains flexibility of such material.
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The rising demand for elastomeric sealants in the utility of glass windows, bridges, cladding, highways, and roads among others, across building and construction industry can are factors that can drive the global elastomeric sealants market over the analysis period. These sealants are generally used in construction activities. Elastomeric sealants are gaining importance in the automotive sector due to its wide range of utility in the water shield sealing for protection of interior from moisture, installation of windscreen frames, prevention from corrosion and thermal stress, and shock vibration. In addition, the rise in demand for superior quality bonding products from the manufacturing of high-tech electronics to protect sensitive electrical equipment, such as; ICs, capacitors, and sensors, is expected to promote the market rise over the analysis period. Further, the increasing utility of elastomeric sealants in the defense and aerospace for escape slides, fuel tank sealing, life rafts, and related applications can add considerable value to the global market over the forecast tenure. As per the World Bank Study, the organized furniture industry can rise at 20% every year, and a considerable part of the growth is expected to come from expanding consumer markets in the world, which can further fuel the growth of elastomeric sealants market. The shifting trend towards houses renovation coupled with the increment in disposable income are likely to propel the market of elastomeric sealants through the review period.
On the contrary, growing awarness about substituents, such as; construction foam tapes, and regulations and norms concerning VOC emission can challenge the market expansion over the evaluation period.
- 3M (US), PPG Industries, Inc. (US),
- The Dow Chemical Company (US),
- Arkema (France),
- Henkel AG & Co. KGaA (Germany),
- B. Fuller Company (US),
- Sika AG (Switzerland),
- VCM Polyurethanes Pvt. Ltd (India),
- RPM International Inc. (US),
- Mapei SpA (Italy),
- Wacker Chemie AG (Germany),
- and KCC CORPORATION (South Korea)
are some prominent companies in the global elastomeric sealants market that are listed by MRFR.
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The global elastomeric sealants market’s segments study is done by end-use industry and type.
By type, the global market of elastomeric sealants market segments are silicone, silane-modified polymers, polysulfide, and polyurethane among others.
By end-use industry, the global market of elastomeric sealants is studied for building & construction, electrical & electronics, automotive, marine, and aerospace & defense among others.
Asia Pacific is the fast-paced growing region in terms of volume and value for the global elastomeric sealants market due to the surge in infrastructural activities across this region, especially in India. Further, the surging demand for electronics and automotive owing to changing lifestyle can fuel the market rise. The expansion of furniture industry and woodworks in APAC is anticipated to promote the elastomeric sealants market over the analysis period.
North America accounts for a decent market share owing to the booming aerospace & defense sector. The US is identified as one of the leading military powers, and the growing demand from elastomeric sealants in this sector can drive the market expansion.
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The automotive sector can drive Europe elastomeric sealants market owing to the growing sales, production, and exportation of automobiles in the region. Although, Latin America is witnessing a moderate growth pace, it is set to thrive exponentially over the years to come. The upcoming infrastructural projects in this region and in the Middle East Asia and Africa, can underpin the considerable rise in demand from constructional solution, thus favor the market.
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