The construction sealants sector is a key industry that contributes considerably to the world’s gross domestic product (GDP). The demand for construction sealants is directly influenced by the developments of the construction sector in any region / geography. With the growing urbanization and rising purchasing power of the consumer worldwide, there has been a rise in demand for commercial buildings and residential dwellings, in the recent years. This has further led to an increase in demand for the construction sealants as they form an inevitable part of any construction activity due to their diverse benefits and end-use applications.
Recently, bio-based construction sealants composed of starch, proteins, vegetable oils, natural resins and lignin, have been introduced in the market. Although, the adoption of these sealants is in its initial stage, it is expected to increase multifold in the upcoming years due to the strict regulations imposed by the various authorities and government bodies toward the reduction of harmful volatile organic compounds (VOCs) released by the chemically synthesized construction sealants. Environmental Protection Agency (EPA) in the U.S., finalized a rule regarding the limits for VOCs for a wide range of sealants and other adhesives. The commonwealth of Virginia (a state air pollution control board) in the U.S. has imposed various emission standards for chemicals such as sealants and adhesives. Some such standards are 9VAC5-45-620, 9VAC5-45-630, 9VAC5-45-640, 9VAC5-45-650, 9VAC5-45-660, 9VAC5-45-670, 9VAC5-45-680.
In addition to the bio-based construction sealants, the adhesive tapes have also started gaining popularity for their use in the expansion joints. This can be attributed to their higher degree of freedom with added compatibility features, which proves to be beneficial where joining is done between the two bodies which are out of plane to each other.
The competitive landscape of the construction sealants market consists of different strategies undertaken by major players across the entire value chain to gain market presence. Some of the strategies adopted by construction sealants manufacturers are business expansions, mergers and acquisitions, partnerships, collaborations and joint ventures, and new product launches. Among all the strategies adopted, business expansions and mergers and acquisitions have dominated the competitive landscape between 2017 and 2020. Business expansions accounted for the largest development strategy adopted by key players and recorded for 39.29% share. Akzo Nobel N.V., BASF SE, ARKEMA, and Wacker Chemie AG, Hodgson Sealants and EVONIK, among others are some of the leading players in the global construction sealants market.
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Most of the construction sealants manufacturers are of similar financial capability, and the industry landscape is very competitive because of the large number of players in the market. Innovation and development have been the key factors for large scale growth in this market. To increase their overall global footprint, manufacturers are entering into mergers and acquisitions and are also entering into strategic partnerships and collaborations to target a greater audience.
Akzo Nobel N.V., ARKEMA, BASF SE, Clariant, EVONIK, H.B. Fuller Company, and Sika AG, are some of the companies which have remained in the limelight since last few years due to their developments in the field of construction sealants.
Metal 3D printing has been one of the emerging markets in the modern world with a considerable contribution to the global gross domestic product (GDP).
For instance, in the aerospace sector, Boeing has started using titanium parts for its structural components in its Dreamliner 787 aircraft, supplied by Norsk Titanium.
Another aviation giant, GENERAL ELECTRIC, has started using 3D printed cobalt-chrome fuel nozzles for its Leading Edge Aviation Propulsion (LEAP) aircraft engines.
In medical and healthcare, products such as dental frameworks, bio-implants, and surgical instruments are developed through metal 3D printing.
The automotive industry has witnessed an entry-level adoption of metal 3D printing, particularly at the prototype stage.
For instance, ASTM International has proposed a standard F3303 which addresses methods of qualifying processes and 3D printers, which are utilized for the development of parts using laser or electron beam powder bed fusion.
The report "Construction Sealants Market by Resin Type (Silicone, Polyurethane, Polysulfide), Application (Glazing, Flooring & Joining, Sanitary & Kitchen), and Region (Asia-Pacific, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2022".Do Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=104100934Glazing application segment is projected to lead the construction sealants market during the forecast periodGlazing, in general, refers to a part of the window, facade panels, rain screens, wall, railroad, door, storefront, and entrance made of glass, which is sealed with sealants.
Sealants for glazing are used to enhance building design, flexibility, improve aesthetics, durability, longevity, UV and weather resistance, load-bearing capacity, thermal stress, and low shrinkage.
Polyurethane sealants are used for assembling, installing, and repairing glass.
They can either be used for structural glazing or conventional glazing depending on the requirement of the application.Asia-Pacific, South America, and the Middle East & Africa are the fastest-growing construction sealants markets in the glazing application due to ongoing investments in infrastructural development, increasing urbanization, and rising standards of living in emerging countries such as India, China, Vietnam, Bangladesh, Indonesia, Iran, and Brazil.
The Asia-Pacific construction sealants market in the glazing application is mainly influenced by the growing housing sector, ongoing urbanization, rising income levels, and favorable government policies.Based on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast periodBased on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast period.
Increasing building & construction activities in the region are expected to propel the demand for construction sealants in the Asia-Pacific region.Download PDF Brochure At - http://bit.ly/2M5W3ueCompanies such as 3M (U.S.), Bostik (France), Sika (Switzerland), H.B.
