Construction Sealants Market Size

Construction Sealants Market Size

Construction Sealants Market size was above USD 4.5 billion in 2016 and industry expects consumption of over 700 kilo tons by 2024.
 

Increasing application scope in residential & public infrastructure mainly in India and China owing to low VOC content, corrosion resistance, adhesion insolubility along with compliance to green building norms should drive construction sealants market size. China construction spending was over USD 1.5 trillion in 2014. Sealants are semi- solid chemicals which are widely used in construction industry to block dust, sound, heat and fluid through apertures at the joints in the building structure. It also provides longer life span, waterproofing, reliability to building construction.
 

Rising living standards along with easy financial assistance has led to increase in residential construction and renovation projects which is likely to drive construction sealant market demand. Global construction spending was at over USD 9 trillion in 2014 and poised to surpass USD 11.5 trillion by 2020. Construction sealants prevents building structure from rain and airborne contaminants thus enhancing structural strength and increasing longevity. Growth in demand for high strength and durable public infrastructures prominently in India and China may act as another contributing factor towards construction sealants market demand.
 

Growing investments in research to develop energy smart construction projects should have positive impact on industry growth.  Positive outlook in development of bio based sealants by using natural oil based polyols along with renewable resource technology which offers high performance, improved water resistance, good adhesion and high flexibility may favor construction sealants market size. 
 

Stringent environmental policies in Europe and U.S. regarding toxicity and emission may limit industry profitability. However, manufacturers focus and adoption towards bio based sealants which may reduce environmental impact should fuel product demand. 
 

Key raw materials used in manufacturing includes silicones and polyurethane. Volatility raw material prices due to wide unstable crude oil prices accompanied with wide application across other industries including electronics, automotive, and packaging industries likely to affect raw material availability and thereby impacting construction sealants market price trends.