Elastomeric Sealants Market

Elastomeric Sealants Market Size (2023-2028):

The Elastomeric Sealants Market was valued at USD 3.89 billion in 2022 and is predicted to reach USD 5.350 million in 2028, with a CAGR of 6.2% during the foreseen period of 2023-2028

The expansion of the sealants market Elastomeric can be attributed to the escalating applications of elastomeric sealants in the construction industry and escalating calls for automobiles and electronic products around the world. Elastomeric sealants are bonding materials employed to seal, finish, and protect surfaces. Elastomeric sealants can be applied to a variety of surfaces, including stone, concrete, floors, driveways, and other polymers. Elastomeric sealants can be employed in homes to seal windows and doors, showers and bathtubs, sinks, and toilets. In addition, elastomeric sealants are employed to seal the roof surface and create a waterproof barrier. Elastomeric sealants are employed for a variety of applications in various end-use industries. This type of sealant is most effective when an elastic, moisture-resistant sealant is required.

Elastomeric sealants are employed in the automotive and transportation industry due to their high durability, good adhesion, excellent flexibility, and high heat resistance. Furthermore, the development of light electric vehicles is also driving the expansion of the elastomeric sealant market around the world.

Elastomeric Sealants Market Drivers:

One of the main drivers for the elastomeric sealants market is the escalating call in the construction industry. The growing call for PS (polysulfide) elastomeric sealants in the aerospace and defense industry and growing concerns about the use of green building sealants are helping the market to grow over time. Stringent environmental regulations have led to increased consumption of solar and wind energy equipment, thus stimulating the market for elastomeric sealants. Furthermore, the call for sophisticated bonding products from high-tech electronics manufacturers to protect sensitive electrical equipment such as capacitors, sensors, and integrated circuits is predicted to drive market expansion during the period considered. Furthermore, the escalating use of elastomeric sealants in the aerospace and defense industry for escape slides, life rafts, fuel tank sealing, and other applications is predicted to add considerable value to the elastomeric sealants market.

Elastomeric Sealants Market Restraints:

Growing concerns regarding volatile organic compound (VOC) emissions are acting as a drag on the expansion of the elastomeric sealant market around the world.

Opportunities in the Elastomeric Sealants Market:

The strong expansion of the automotive industry in developing countries and the escalating call for bio-based and environmentally friendly sealants provide expansion opportunities for the elastomeric sealant market. Increased construction activity in emerging countries such as India, China, South Korea, and others are driving the elastomeric sealants market demand. The high call for elastomeric sealants for various applications such as siding, glass windows, bridges, highways, and highways in building and construction is also escalating the growth rate of the elastomeric sealant market.

Challenges in the Elastomeric Sealants Market:

In the construction industry, foam tapes replace elastomeric sealants. This factor is predicted to restrict the market during the foreseen period. Regulation regarding the VOC content of elastomeric sealants is another limitation of the elastomeric sealant market. Fluctuations in raw material prices and low awareness of acoustic sealants in emerging economies are limiting the market.

ELASTOMERIC SEALANTS MARKET REPORT COVERAGE:

Elastomeric Sealants Market Segmentation:

Elastomeric Sealants Market - By Type:

• Polybutadiene (PB)

• Polysulfide (PS)

• Polybutadiene (PB)

• Silicone

• Acrylic

• Silyl Modified Polymer (SMP)

• Others

The silicone-like segment accounted for the majority of the elastomeric sealant market in 2021 in terms of volume. The silyl-modified polymer type (SMP) segment of the elastomeric sealant market is predicted to grow at the highest CAGR in terms of value and volume over the foreseen period.

Elastomeric Sealants Market - By End-use:

• Construction

• Automotive & Transportation

• Electronics

• Furniture & woodworks

• Aerospace & Defense

• Marine

Elastomeric Sealants Market-By Region:

 The Elastomeric Sealants Report includes the segmentation of Regions:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

The Asia-Pacific region is predicted to dominate the elastomeric sealant market during the foreseen period. The expansion of the elastomeric sealant market in the region of Asia-Pacific can be credited to the economic advancement taking place in so many nations in the Asia-Pacific region. Additionally, increased investment from the public and private sectors in the construction industry in the Asia-Pacific region is also driving the expansion of the elastomeric sealant market in the region. The elastomeric sealant markets in China, India, Mexico, and Brazil are also experiencing significant expansion due to increased consumption of electronic and automotive products in these countries. North America has a significant share of the worldwide elastomeric sealant market due to the expansion of the aerospace and defense sector in the region. The Middle East and African market is predicted to see substantial expansion during the foreseen period due to call from the building and construction industry in countries such as Saudi Arabia and the United Arab Emirates. North America represents a sizeable market share due to the important aerospace and defense sector. The United States is a major military power, and the call for elastomeric sealants from this industry is driving market expansion.

Impact of COVID-19 on the Elastomeric Sealants Market:

The staggering ramifications of the COVID-19 pandemic have affected us all. Worldwide personal losses are simply devastating, and preventative measures like widespread closings and physical distancing, while necessary, have completely transformed our daily reality into what may seem like a surreal nightmare. The overall economic effect of the coronavirus is not yet known and may not be fully taken into account for some time. What does this mean for adhesive and sealant companies? Beyond transportation delays resulting from travel restrictions and some driver shortage issues, COVID-19 has yet to have a significant impact on supplies of raw materials for adhesives and sealants. The situation is very fluid, but the availability of raw materials such as binders and resins has not yet become a problem. Industries using adhesives and sealants are experiencing varying levels of call due to both the pandemic and massive reductions in oil prices.

Recent Developments:

The Munich-based chemical group can now offer products made with bio-methanol to suppliers of silicone sealants.

Elastomeric Sealants Market Key Players:

Some of the key players operating in the elastomeric sealants market are 

1. 3M (US)The Dow Chemical Company (US)

2. Henkel AG & Co. KGaA (Germany)

3. Arkema (France) 

4. Sika AG (Switzerland)

5. H.B. Fuller Company (US)

6. RPM International Inc. (US)

7. PPG Industries, Inc. (US)

8. VCM Polyurethanes Pvt. Ltd (India)

9. Wacker Chemie AG (Germany)

10. Mapei SpA (Italy)

11. KCC CORPORATION (South Korea)