Synopsis of Structural Sealants Market:
Structural sealants refer to substances used to join surfaces to form a load bearing structure. Such type of sealants is being used in various high strength applications in order to replace conventional fasteners. These sealants are a self-primer, stable and neutral cure for different structural substrates. Various high-performance materials including silicone, polysulfide, polyurethane, and acrylic are used as structural sealants. Among these type, silicon is the most prominent type of structural sealant used in wide variety of applications. The sealants segment is estimated to account for 34.00% in the global market in 2017. Some of the leading applications of structural sealants comprises, building & construction, automotive, marine & aerospace, and other industries.
Global top 10 Key Players:
Some of the key players operating in the global structural sealants market are BASF SE (Germany), Asian Paints Limited (India), Pidilite Industries, Ltd (U.S.), Roberlo (Spain), AKEMI (Germany), Chemence Ltd. (UK), H.B Fuller (U.S), Dow Corning Corporation (U.S.), Henkel AG & Co. KGaA (Germany) and 3M (U.S.) among others.
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Global structural sealants market is estimated to be valued at USD 2,972.4 mn in 2017 and is projected to reach USD 4,077.0 million by 2023 expanding at 5.41% CAGR over the forecast period. Among different resin types, silicone types are estimated to account for a prominent share of 33.46% in 2017 and expected to witness 5.09% over the forecast period. Regionally, Asia Pacific dominates the market and registers the dominating value share of 42.11% Owing to increasing automotive production and construction activities, the market is expected to witness spur in overall market demand over the forecast period.
The construction & automotive industries are estimated to dominate the market owing to higher use in the structural applications in such industries. Moreover, the global market is expected to expand, owing to the projected increasing automotive production, and construction activities in developing countries in Asia-Pacific over the forecast period. In addition to this, growing trend of automotive lightweighting due to increasing fuel efficiency regulation is anticipated to spur overall market growth over the forecast period. Owing to such factors, the overall market is slated to expand at a CAGR of 5.41% and reach USD 4.077.0 mn by 2023 end.
- Amines producers
- Structural sealants manufacturers
- Agrochemical manufacturers
- Potential investors
- Amines suppliers
- Nationalized laboratory
Geographically, the global structural sealants market is divided into five main regions, namely — North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific region has accounted the largest market share in 2016 followed by Europe and North America. Moreover, the region is anticipated to retain its dominance throughout the forecast period. Asia Pacific region offers a significant growth potential for structural sealants market and is slated to register the highest CAGR of 5.69%, owing to the growing prominence of automotive and construction industries in the region. Moreover, country wise, China accounted for the largest market share of 44.45% in 2016 in the region and is expected to reach USD 201.5 million by the end of 2023. Asia Pacific region is followed by Europe and North America in terms of market share. The regional demand in North America and Europe is estimated to be relatively saturated and thus, will witness comparatively low CAGR of 5.05% and 5.30%, respectively.
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The global structural sealants market is segmented on the basis of resin type, end-user, and region. Based on resin type, the global structural sealants market is segmented as silicone, polysulfide, polyurethane, acrylic, and others. On the basis of end-users, the market is divided into building & construction, automotive, marine & aerospace, and general industry. Additionally, based on geography the global market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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