Sealants Find Increasing Applications in Green Construction and Automotive Lightweighting, Driving Market Expansion

DUBLIN, Sept. 29, 2023 /PRNewswire/ — The “Sealants – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

The global Sealants market is poised for impressive expansion, with estimated revenues of US$11.3 billion in 2022, and a projected surge to US$16.6 billion by 2030. This substantial growth is anticipated at a steady CAGR of 4.9% over the analysis period spanning 2022 to 2030.

Silicone and Polyurethane Segments Take the Lead

Within the Sealants market, the Silicone segment stands out, projected to achieve a remarkable 5.6% CAGR, reaching a value of US$6.4 billion by the end of the analysis period. The Polyurethane segment is not far behind, with estimated growth at a solid 5% CAGR over the next eight years.

Global Leaders and Geographic Highlights

The United States Sealants market is estimated at a significant US$2.5 billion in 2022, highlighting strong growth prospects. Meanwhile, China, as the world’s second-largest economy, is set to reach an impressive projected market size of US$3.7 billion by 2030, driven by a compelling CAGR of 6.8% from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each forecasted to experience steady growth at 3% and 4%, respectively, during the 2022-2030 period. Within Europe, Germany is expected to grow at a solid 3.8% CAGR.

Key Competitors

  1. 3M
  2. Alfa International
  3. AVERY DENNISON CORPORATION
  4. BASF SE
  5. BENSON POLYMERS
  6. Bostik
  7. Carlisle Companies Inc.
  8. Dow Chemicals
  9. FRANKLIN INTERNATIONAL
  10. H.B. Fuller Company
  11. Henkel Ag & Co. KGaA
  12. Illinois Tool Works Inc.
  13. ITW Polymers Sealants
  14. Mapei
  15. PARAMELT B.V
  16. RPM International Inc.
  17. Sika AG
  18. Solvay
  19. Wacker Chemie AG
  20. YOKOHAMA INDUSTRIES

Optimistic Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected for the upcoming years. The United States has successfully navigated recession threats despite slowing GDP growth. In the Euro area, easing headline inflation is boosting real incomes and driving economic activity. China is poised for substantial GDP growth as the pandemic recedes, and India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

Despite these positive trends, various challenges persist, including uncertainty around the war in Ukraine, slower-than-expected global headline inflation decline, and ongoing food and fuel inflation in developing countries. High retail inflation is affecting consumer confidence and spending. Governments are addressing these challenges by raising interest rates to combat inflation, which may impact job creation and economic activity. The regulatory environment is also tightening, with growing pressure to integrate climate change into economic decisions.

Investment Opportunities in Emerging Technologies

While corporate investments may face inflation-related concerns and weaker demand, the rise of new technologies presents opportunities. Generative AI, applied AI, machine learning industrialization, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies are poised to reshape the global investment landscape. These technologies have the potential to drive significant incremental growth and value to global GDP in the coming years.

In this dynamic environment, businesses and leaders who exhibit resilience and adaptability are well-positioned to seize the opportunities that lie ahead.

What`s New?

Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/uc8w3x

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SOURCE Research and Markets