Global Construction Sealants Market to Grow at 6% CAGR by 2021

The global construction sealants market is expected to grow steadily at a CAGR of about 6% between 2017 and 2021, according to a market research report of Technavio. One of the primary factors driving this market is the significant rise in the investments in infrastructures and growing urbanization. There is an increase in the demand for infrastructure development, both residential and non-residential projects. This rise is projected to induce growth in the construction industry. Emerging countries in the APAC like China, India, and Vietnam are witnessing the rapid migration of populations from the rural to the urban areas. This has increased the need of infrastructure development in these countries, which is likely to propel growth in the global construction sealants market in the coming years.

The growing demand for eco-friendly products is one of the latest trends gaining traction in this market. The regulatory requirements for green and energy-efficient buildings are driving the demand for eco-friendly construction sealants. Polyurethane and silicone-based sealants are anticipated to produce quick benefits owing to their better performance. Hot melt products also have a significant demand from various applications because of their rapid cure rates, which help in fast processing. And hot melt products don’t emit VOCs and pose any harmful effects on the environment. These benefits of eco-friendly sealants are projected to fuel the growth in the global construction sealants market during the forecast period.

The construction sealants market is segmented into polyurethane, silicone, and polysulfide by product type. The polyurethane segment dominated the construction sealants market and accounted for a major market share in 2016. The ability of polyurethane to provide a tough and elastic seal on several materials like masonry, wood, and metals is one of the significant contributors to the dominance of this segment in the global market.

The construction sealants market is segmented into Americas, APAC, and EMEA by geography. APAC is anticipated to dominate the construction sealants market during the forecast period. The exponential rise in the construction sector in emerging markets such as China, India, Indonesia, Vietnam, the Philippines, Malaysia, and Thailand is the key driver for the growth of this region in the construction sealants market.

3M, Arkema, H.B. Fuller, Henkel, and Sika are the leading vendors in the construction sealants market. Other prominent vendors in the market include BASF, Cytec Solvay, DAP Products, Dow Corning, Franklin International, Momentive Performance Materials (Momentive), Pecora Corporation, PPG Industries, and Wacker Chemie.