The report "Elastomeric Sealants Market by Type (PS, PU, PB, Silicone, Acrylic, SMP), End-Use Industry (Construction, Automotive & Transportation, Electronics, Furniture & Woodworks, Aerospace & Defense, Marine), Region - Global Forecast to 2022"The elastomeric sealants market is projected to grow from USD 3.77 Billion in 2017 to USD 5.19 Billion by 2022, at a CAGR of 6.6% from 2017 to 2022. The growth of the elastomeric sealants market across the globe can be attributed to the rising demand for elastomeric sealants from the construction and automotive & transportation industries.
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Construction-the largest end-use industry for elastomeric sealants
The construction end-use industry segment accounted for the largest share of the elastomeric sealants market in terms of both, value and volume in 2017. The growth of the construction end-use industry segment of the elastomeric sealants market can be attributed to the increasing use of elastomeric sealants in various applications such as cladding, marble works, parking areas, and roads & highways, among others. Moreover, rising number of construction projects in emerging economies such as India and China and continuous innovations in carrying out the construction of buildings in mature markets is expected to drive the growth of the elastomeric sealants market across the globe.
Silicone-the fastest-growing type segment of the elastomeric sealants market
Among types, the silicone segment of the elastomeric sealants market is projected to grow at the highest CAGR between 2017 and 2022, in terms of both, value and volume. The growth of this segment of the market can be attributed to the easy availability, low cost, and ease of use of silicone type elastomeric sealants. These sealants are widely used in the construction, electronics, aerospace & defense, and automotive & transportation industries.
Asia Pacific the largest market for elastomeric sealants
The Asia Pacific region is a key market for elastomeric sealants. The growth of the Asia Pacific elastomeric sealants market can be attributed to the increased demand for elastomeric sealants from emerging economies such as China and India. Increasing use of elastomeric sealants in the construction industry is also driving the growth of the Asia Pacific elastomeric sealants market.
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Most active players in the elastomeric sealants market
The Dow Chemical Company (US), Henkel AG (Germany), 3M Company (US), H.B. Fuller Company (US), Arkema (France), Franklin International (US), Sika AG (Switzerland), Wacker Chemie AG (Germany), RPM International (US), and MAPEI S.p.A. (Italy), among others are the leading players operating in the elastomeric sealants market.
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