Structural sealants are substances useful for joining surfaces to form a load-bearing structure. They are used in various high-strength applications in place of conventional fasteners. Market Research Future (MRFR) has published and released a research report about the global structural sealants market that estimates a rise for this market at a 5.41% CAGR (Compound Annual Growth Rate) between 2021 and 2027. In terms of value, the market is expected to be worth US $ 4.077 mn by the end of the forecast period.
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The dominant factor aiding the growth of the global structural sealants market is the projected increase in automotive production and construction activities in developing countries. Other factors supporting the market growth include the growing trend of making lightweight automobiles due to increasing fuel efficiency regulations.
The global structural sealants market has been segmented on the basis of end users, resin type, and lastly, region. Based on end users, this market has been segmented into automotive, building & construction, marine & aerospace, and general industry. By resin type, the market has been segmented into acrylic, polysulfide, polyurethane, silicone, and others.
The regional segmentation of the global structural sealants market segments the global market into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa (MEA). Asia Pacific is the largest regional market. In this region, the market is expected to witness growth at the highest CAGR of 5.69% due to the growing prominence of automotive and construction industries. Among all country-specific markets, China held the largest market share of 44.45% in 2016 and during the forecast period, it is anticipated to reach a value of US $ 201.5 mn. Other country-specific markets in this region are India, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
Europe and North America are the second and third largest regional markets, respectively. During the forecast period, Europe is expected to witness growth at a 5.05% CAGR, whereas North America is likely to witness growth at a 5.30% CAGR. Key reasons for market growth in both of these regions are a high density of population, the presence of many key market players, high technological advancement, and the growing construction industry. In Europe, the crucial country-specific markets are France, Germany, Italy, Russia, Spain, and the UK, followed by the remaining countries of Europe. In North America, the key country-specific markets are the USA and Canada.
The MEA regionThe key country-specific markets in this region are Bahrain, Israel, Kuwait, Oman, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates (UAE), followed by the remaining countries of the MEA region.
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Key Players
The key players in the global structural sealants market include 3M (USA), AKEMI (Germany), Asian Paints Limited (India), BASF SE (Germany), Chemence Ltd. (UK), Dow Corning Corporation (USA), Henkel AG & Co. KGaA (Germany), H.B. Fuller (USA), Pidilite Industries, Ltd. (USA), and Roberlo (Spain).
Latest Industry News
- Henkel and RLE International have formed a strategic alliance whose purposes include driving automotive innovation and expanding value creation opportunities. Lastly, with this alliance, both partners aim to become the premier design-in engineering solution provider for the mobility industry. 22 NOV 2018
- Toyota has revised its crash protection designs, using more ultra-high-strength steel on the next-generation 2020 Corolla. This vehicle will now receive Toyota Safety Sense 2.0 standard that offers the advanced and upgraded driver assistance system suite with the vehicle. The next-generation 2019 Corolla Hatchback variant is to be the first Toyota to receive the 2.0 system. 20 NOV 2018
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