The global construction sealants market is projected to grow from USD 4.7 billion in 2023 and is projected to reach USD 5.7 billion by 2028, at a CAGR of 3.6%, between 2023 and 2028 period. There is high demand for construction sealants in the emerging markets of Asia Pacific due to the significant growth of the construction industry. Environment-friendly characteristics, durability, and better aesthetic appearance drive consumption in various applications.
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Silicone sealants are the largest resin type in the market, primarily due to their excellent mechanical properties, such as elasticity, tensile strength, ultimate elongation, and tear resistance. Silicone sealants are the most versatile, with a wide range of properties, including low thermal conductivity, low chemical reactivity, low toxicity, and thermal stability. The significant ones include weather, heat and microbial resistance, water and vapor permeability, and resistance to extreme temperatures.
Asia Pacific is the fastest-growing and largest construction sealants industry. Development in both the residential and non-residential sectors is likely to drive the demand for construction sealants in this region, especially in China and India, during the forecast period. China is the main driving force behind the fast expansion of the construction sealants market not only in the Asia Pacific region but also across the globe. Factors such as rapidly growing construction activities and a huge and increasing addressable population base are driving the construction sealants market in the Asia Pacific region.
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Glazing accounts for the largest market share of the construction sealants market in the application segment between 2023 and 2028. The rising demand for sealants from the glazing application can be attributed to the increasing requirement for residential housing, theme parks, hotels, and other commercial centers in developed nations for new work, renovation, maintenance, and repairs.
Continuous developments in the construction sealants market are expected to help the market grow. The companies are providing products that will serve various applications. Acquisitions have also helped companies to have a greater reach. The companies have also started new manufacturing sites to capture and fulfill the need of the market.
The key players following the strategies between 2018 and 2023 are 3M (US), Arkema (France), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and H.B. Fuller (US). The companies are majorly following acquisition as the strategy to grow and expand the market.
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