Newark, May 26, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global sealers market is expected to grow from USD 8.34 billion in 2021 to USD 13.50 billion by 2030, at a CAGR of 5.5% during the forecast period 2022-2030.
To attract foreign investments or international manufacturers & businesses, governments of developing economies are increasingly investing capital in the construction and building of bridges, roads, highways, and ports, among other things. Capital infrastructural investment is critical as it employs the population, which leads to income and consumption spending, to spur the economic growth, which has witnessed a lull in the two years of the pandemic.
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The growing rural to urban migration has increased the housing demands of the excess population pouring into the city. Rapid urbanization also demands better public utilities and amenities as the urban population desires to improve their quality of life. Increasing demand for residential spaces and rising capital expenditure by the government on infrastructure will drive the growth of the global sealers market as sealers are primarily used in construction & building to enhance the sustainability of building materials and increase their lifespan. Sealers prevent the degradation of sustainable materials used in green buildings, hence contributing to the goal of sustainable development. New product innovations that utilize the bacteriostatic properties of sealers will find applications in the growing pharma industries, providing lucrative opportunities to the key players in the global sealers market. The lack of standard government regulations overseeing the production, transportation, trade & application of sealers across industries will hamper the market's growth.
Competitive Strategy
To enhance their market position in the global sealers market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Bostik, a significant global sealers market player, has announced the acquisition of Den Braven. Den Braven is based in the Netherlands and specializes in adhesives and sealants. The acquisition will help Bostik expand its global footprint by utilizing Den Braven's first-class technologies.
Market Growth & Trends
The growing population coupled with the rising disposable income of the consumers has led to increasing housing needs. The governments of the developing economies are concentrating on growing infrastructural investments by building roads, schools, hospitals, bridges, and houses to attract foreign direct investment and improve the standard of living of the population. The growing construction and building will drive the growth of the global sealers market as sealers are primarily used in the previously mentioned sector. Materials like silicone, butyl, polyurethane, and polysulfide are being utilized in developing new and innovative sealers to enhance their properties. Improved properties will widen the scope of applications of sealers across industries. Low maintenance, easy cleaning, strong adhesion, better aesthetic finish, flexibility & UV resistance properties, and features of sealers are being improved with extensive research and development. The improvement in properties will enhance production capability and reduce production costs. The reduction in production costs will be followed by a lowering of the retail price, making sealers more affordable to small & medium enterprises, eventually contributing to the growth of the global sealers market.
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Key Findings
• In 2021, the coal tar segment dominated the market with the largest market share of 48% and market revenue of 4.00 billion.
The product type segment is divided into acrylic, coal tar, bitumen & asphalt, & others. In 2021, the coal tar segment dominated the market with the largest market share of 48% and market revenue of 4.00 billion.
• In 2021, the driveway & parking lot segment accounted for the largest share of the market, with 42% and a market revenue of 3.50 billion.
The application segment is divided into driveway & parking lots, pavement & blocks, & others. In 2021, the driveway & parking lot segment accounted for the largest share of the market, with 42% and a market revenue of 3.50 billion. The rising population accompanied by rising disposable income has increased the automotive consumption demand in the market. As the income of a consumer increases, their consumption spending also rises. To accommodate the rising number of automobiles, construction of driveways & parking lots is witnessing a rise which will contribute to the growth of this segment in the forecast period.
Regional Segment Analysis of the Sealers Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global sealers market, with a market share of around 35% and 2.91 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The sealers market in the Asia Pacific has been expanding rapidly. China dominates sealers in the Asia Pacific. The massive population of China with an increasing income rate combined with government schemes targeting affordable housing will drive the construction in the Chinese market. The growing migration from rural to urban areas and rapid urbanization increases the demand for residential construction. Residential construction is followed by creating public utilities and amenities to improve the quality of life for the population. The prominent use of sealers in construction to increase the sustainable life span of building materials will witness a significant rise in its demand in line with the rising construction sector of China.
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Key players operating in the global sealers market are:
• 3M
• Ashland Inc.
• Bond Tech Industries
• Bostik
• DIC Corporation
• Dural Industries
• H.B. Fuller
• Henkel
• Sealers Resource Inc.
• Asphalt Coatings Engineering
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global sealers market based on the below-mentioned segments:
Global Sealers Market by Product Type:
• Acrylic
• Coal Tar
• Bitumen & Asphalt
• Others
Global Sealers Market by Application:
• Driveway & Parking Lots
• Pavement & Blocks
• Others
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About the report:
The global sealers market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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