The scope of our recent study on the "Sealants Market Size and Forecast (2021-2031), Global and Regional Growth Opportunity Analysis -by Type, Application, and End-Use Industry" includes the factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players and their key developments.

The sealants market size is expected to grow from US$ 10.45 billion in 2023 to US$ 14.17 billion by 2031; it is estimated to register a CAGR of 3.9% from 2023 to 2031.

Raw materials required to manufacture sealants vary according to the sealant type. Sealants require various materials such as petroleum-derived chemicals, epoxy, silicones, polyurethane, fillers, plasticizers, and curing agents, among others. Further, major end-use industries of sealants include automotive, aerospace, building and construction, electrical and electronics, and medical. The key market players offer water-based latex, acrylic, butyl, polysulfide, silicone, polyisobutylene, and polyurethane, among other types of sealants. The products are supplied to end users directly via business-to-business sales or the network of independent dealers operating across different regions. End users maintain long-term relationships with sealant manufacturers to ensure a proper and steady supply of high-quality products.

Based on type, the global sealants market is segmented into silicone sealants, polyurethane sealants, acrylic sealants, polysulfide sealants, butyl sealants, hybrid sealants, and others. The hybrid sealants segment is further broken down into silane modified polymer sealants, polyurethane modified acrylic sealants, and others. The silicone sealants segment held the largest market share in 2023. The polyurethane sealants segment is expected to register the fastest CAGR in the sealants market. Polyurethane sealant adheres well to most surfaces with minimum substrate preparation. They have excellent resilience to abrasion and shear forces as well as strong adhesion and movement capability. Polyurethane sealant's mechanical strength and adhesion strength can be increased to higher levels compared to silicon sealant. They have high surface adhesion and low flexibility.

Based on application, the global sealants market is segmented into waterproofing, insulation, bonding and sealing, soundproofing, and others. The waterproofing segment held the largest sealants market share in 2023. For waterproofing, silicon sealants are highly used on external building facades to prevent rainwater from entering the building through the cracks on external surfaces.

Based on end-use industry, the global sealants market is segmented into building & construction, automotive, electronics, healthcare, aerospace & defense, marine, energy & power, and others. The building & construction segment held the largest sealants market share in 2023. Sealants used for building and construction provide substrates with various mechanical properties, including superior adhesion as well as water impermeability and chemical resistance, and they can guarantee speedy cure to improve process efficiency. Sealants bond and seal concrete, asphalt, steel, and tiles, making the structures last longer. In the building & construction industry, sealants connect and join various materials and parts to the main structure. They help close the gaps between the elements and surfaces of the construction, thus preventing fluids and substances from passing through surfaces and mechanical joints. Sealants help commercial and residential buildings perform better by sealing out water, humidity, and UV rays. The strong growth of the building & construction industry due to the increasing population, growing infrastructural developments, and rising investments in the residential & commercial construction sector are driving the demand for sealants across the globe.

The global sealants market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest revenue share of the global sealants market in 2023. The growing construction, healthcare, automotive, and electronics sectors in Asia Pacific propel the demand for sealants across the region. According to the International Organization of Motor Vehicle Manufacturers report, in 2021, the countries in Asia Pacific produced ~46.73 million units of motor vehicles. The growing automotive industry in Asia Pacific drives the demand for sealants from the automotive applications. In North America, the sealants market is witnessing strong growth due to the upsurging demand from the building & construction, automotive, aerospace & defense, electronics, marine, and healthcare industries. As per the International Organization of Motor Vehicle Manufacturers (OICA), North America registered a production of 13.42 million vehicles in 2021. The strong presence of the automotive industry in the region creates a huge demand for sealants, as they are applied in applications such as dashboards and trims, electronic systems and engine compartments, and many other parts. Further, in Europe, the rise in investments by European governments and private companies in infrastructure building and construction projects is driving the sealants market growth in Europe. Automotive is one of the major industries in Europe as it contributes significantly to the GDPs of many European countries, including the UK, Germany, and Italy. According to the report by the European Commission, turnover generated by the automotive industry in Europe represents 7% of the region's total GDP. According to a report by the International Energy Agency in 2022, 2.3?million electric vehicles were sold in Europe in 2021, a rise from 1.4?million in 2020. Automotive sealants are considered a lightweight method of joining plastic and composite parts. Hence, the growing automotive industry propels the demand for sealants in the region. The market players operating in Europe are focusing on adopting new product launches and business expansion strategies to stay competitive in the market. In July 2021, Bostik announced the launch of its new polyurethane sealants line for the sealing & bonding construction markets.

The report includes the segmentation of the sealants market as follows:

The report includes the segmentation of the sealants market as follows: The global sealants market is segmented on the basis of type, application, end-use industry and geography. Based on type, the market is segmented into silicone sealants, polyurethane sealants, acrylic sealants, polysulfide sealants, butyl sealants, hybrid sealants, and others. The hybrid sealants segment is further broken down into silane modified polymer sealants, polyurethane modified acrylic sealants, and others. By application, the market is segmented into waterproofing, insulation, bonding and sealing, soundproofing, and others. By end-use industry, the market is segmented into building & construction, automotive, electronics, healthcare, aerospace & defense, marine, energy & power, and others. By geography, the sealants market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The sealants market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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