Pune, India, Feb. 04, 2021 (GLOBE NEWSWIRE) -- The global building & construction sealants market size is slated to enter an exciting growth phase owing to the increasing adoption of water-based acrylic sealants, finds Fortune Business Insights™ in its report, titled “Building & Construction Sealants Market Size, Share & Industry Analysis, By Material Type (Latex acrylics, Butyl sealants, Polysulfides, Polyurethane, Silyl Modified Polymers, Silicones, Others), By Sealant Types (One-Component Sealants, Two-Component Sealants, Sealant Tapes), By Application (Flooring, Sanitary & Kitchen, Glazing, Acoustics (limit sound transmission), Roofing (Waterproofing & gap filling), Others) Others and Regional Forecast, 2019-2026”.
Environmental Viability of Water-based Sealants to Favor the Market
With environmental concerns surrounding the volatile organic compound (VOC) emissions from building and construction materials mounting, the demand for more energy-efficient solutions has escalated over the past decade. Water-based acrylic sealers offer a more eco-friendly alternative to conventional polymer-based building & construction sealants. For example, these sealants are known to release VOCs into the atmosphere, thus making the indoor environment healthier and safer for workers and residents. Moreover, these sealant types are highly durable and sturdy, prohibiting the penetration of water and other liquids into gaps. The uptake of water sealants has also expanded due to regulatory changes with regard to VOCs. In January 2018, for instance, the State of Maryland brought new categories of VOCs under its purview to achieve emission targets under the Federal Clean Air Act.
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List Top Players Profiled in the Building & Construction Sealants Market are:
- Soudal N.V.
- MAPEI S.p.A.
- Wacker Chemie AG
- BASF SE
- 3M
- Bostik (Arkema Group)
- SABA BV
- Pecora Corporation
- Pidilite Industries Limited
- H.B. Fuller Company
- Henkel AG & Co.
- Sika AG
- Dow Chemical Company
Highlights of the Report
The report contains a wide range of comprehensive insights into the market drivers, trends, and restraints, as well as a granular analysis of all market segments. The report also offers a microscopic study of the regional prospects and opportunities in the market, along with a thorough assessment of the key market players and their strategies.
Key Market Segments
Based on material type, the market has been segregated into latex acrylics, butyl sealants, polysulfides, polyurethane, silyl modified polymers, silicones, and others. On the basis of sealant type, the market segments include one-component sealants, two-component sealants, and sealant tapes. In terms of application, the market has been divided into flooring, sanitary & kitchen, glazing, acoustics, roofing, and others. By region, the market has been categorized into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
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Steep Decline in Construction Industry amid COVID-19 to Hinder the Market
The building & construction sealants market growth is expected to get stalled due to the unprecedented upheavals caused by the COVID-19 pandemic in the construction industry. The Global Construction Activity Index designed by the London-based Royal Institute of Chartered Surveyors (RICS) revealed that the construction industry has undergone a massive slump in 2020, especially in the Americas. According to the RICS, only 20% of the suspended projects are expected to restart in 2020, the silver lining being that a very small percentage of such projects are likely to get canceled. Furthermore, the RICS analysis found that on-site productivity fell by 12% in the second quarter of 2020, with 25% of projects getting paused. Such a dire scenario created by the coronavirus will most certainly hamper the adoption of building & construction sealants in the near future.
Regional Insights
High Demand for Housing to Drive Market Growth in Asia Pacific
Among regions, Asia Pacific is expected to lead the building & construction sealants market share in the forthcoming years on account of escalating demand for housing in developing countries, such as China, India, and Vietnam. A rising middle-class population in these countries is also creating a huge demand for infrastructure and real estate assets in the region.
With political and economic conditions stabilizing in Latin American countries, construction activities are picking up pace, especially in Mexico, Brazil, and Argentina. On the other hand, the uncertainties created by BREXIT (the exit of Britain from the EU) are expected to limit the adoption of advanced building & construction sealants across Europe.
Competitive Landscape
Strategic Acquisitions to Shape Competitive Dynamics of the Market
Aggressive expansion activities by key players are characterizing the competitive landscape of the market. The principal strategy adopted by these entities is acquisitions, which are allowing them to enlarge their market footprint and diversify their portfolio of building & construction sealants.
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Industry Development:
August 2020: Henkel AG announced the takeover of the Consumer Sealants business arm of Momentive Performance Materials, a leader in specialty chemicals. Sold under the brand name GE, Consumer Sealants is known for developing sealants and caulks for construction and home improvement applications.
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