The Construction Sealants Market size is estimated to reach US$12.4 billion by 2027, growing at a CAGR of 5.7% during the forecast period 2022-2027. The growth of the construction sealants market would be highly influenced by increasing demand from the transportation sector, including automotive, aerospace and others. Construction sealants are utilized in blocking the dust, fluid and sound in the building structures. Sealants based on resins such as polyurethane, silicone, polysulphide, water-based latex sealants and others are increasingly used in the construction sector for expansion joints, windows, roofing, flooring and others, thereby boosting its growth scope. Furthermore, an upsurge in residential construction activities across the globe is bolstering the growth scope for the construction sealants industry. With the rising demand from residential, commercial, industrial and infrastructural sectors across the world, the Construction Sealants industry is observed to achieve robust growth.
Construction Sealants Market: The Residential Sector Leads the Market
Based on the end-use industry, the Construction Sealants market can be segmented into Residential, Commercial, Industrial and Infrastructural. The leading segment in the construction sealants industry has been evaluated to be residential. During the forecast period 2022-2027, the residential segment is projected to grow at a CAGR of 6.1%. This can be attributed to growth factors such as increasing residential housing projects and rising income.
According to the Conference Board of Canada, the residential construction investment rose by 7.6% in March 2021 to US$10.99 billion over the past 11 months. Thus, the construction sealants industry would grow significantly as a result of emerging applications of construction sealants in residential construction for roofing, windows, flooring, glazing and others over the forecast period.
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Construction Sealants Market: Asia-Pacific Holds the Largest Share
Based on geography, the Construction Sealants market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Asia-Pacific has emerged as the most profitable region. In 2021, the Asia-Pacific region held a 42.7% share of the total revenues earned by the market globally. The APAC region is estimated to grow rapidly due to the upsurging construction activities, growth in residential building projects and infrastructural development. The residential sector is lucratively growing in Asia-Pacific countries, including China, India and others, due to increasing initiatives for smart and green building, investments in infrastructural projects and urbanization.
According to the International Trade Administration (ITA), the construction sector in China is expected to grow at an annual average rate of 8.6% between 2022 and 2030. With robust growth scope for construction sealants in the residential, commercial, industrial and infrastructural sectors across APAC, the construction sealants industry would emerge significantly in over the forecast period. The Construction Sealants market would also gain demand from the North American region. The U.S., Canada and others are emerging countries in the Construction Sealants industry.
Construction Sealants Market: Competitive Landscape
Key companies holding major shares in the Construction Sealants market are 3M, BASF SE, Wacker Chemie, H.B Fuller, Bostik, Sika AG, Henkel AG & Co. KgaA, DAP Products Inc., KONISHI Chemical Ind Co., Ltd and PCI Augsburg GmbH.
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