Elastomeric Sealants Market Outlook - 2030
Elastomeric sealants are the most common bonding materials used to seal and protect exteriors and interiors of buildings. It has recently expanded its applications to automotive, green energy, aerospace, and defense industries as well. When applied to a crack or space, the bonding material expands and forms a waterborne coating. Elastomeric sealants are semi-liquid, hence can be used in a variety of applications. Squeezing elastomeric sealants into a space until it fills to the top or out the edges is a common method of application. It fills in small gaps and spaces within cracks or bigger opening itself after being pressed in or let to settle.
COVID-19 Impact Analysis
- Unfavorable global effects of the COVID-19 pandemic are already evident and had a huge impact on the elastomeric sealants market in 2020.
- The World Health Organization declared COVID-19 a public health emergency in December 2019. The disease has spread to over 100 nations and resulted in massive deaths across the globe. Global manufacturing, tourism, and financial sectors have all been heavily damaged, owing to shutdowns imposed due to the disease.
- The downward pressure on the global economy, which had previously showed signs of improvement, has escalated once more. The outbreak of the virus and the lockdowns imposed because of it have led to sluggish growth in economic development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
Top Impacting Factors
Rise in demand for elastomeric sealants in the building & construction industry for applications such as glass windows, cladding, bridges, roads, and highways is a prominent factor that drives the global elastomeric sealants market. Elastomeric sealants are gaining popularity in the automobile industry due to their versatility in applications such as windshield frame installation, water shield sealing to protect interiors from moisture, shock vibration, corrosion, and thermal stress. The market share size is increasing due to rise in demand for elastomeric sealants in marine defense and aerospace applications for fuel tank sealing, life rafts, escape slides, and to avoid fractures in aircraft. Furthermore, the market is expected to develop capital investments in this industry. The market also propelled by increasing sophistication in the electronics sector to encapsulate capacitors and other power electronics equipment.
- Demand for sophisticated bonding products from high-tech electronics manufacturers to secure sensitive electrical equipment such as capacitors, sensors, and ICs is expected to drive the market growth.
- Rise in use of elastomeric sealants in aerospace and military for escape slides, life rafts, fuel tank sealing, and other applications is expected to contribute for a significant value in the market.
- The elastomeric sealants market is expected to develop, owing changing tendency toward home renovations along with increased disposable income during the forecast period.
- Competition from building foam tapes and VOC emission laws pose a threat for the market growth.
- Rise in infrastructure operations in India and China, Asia-Pacific are the fastest-growing region in terms of both value and volume in the elastomeric sealants market.
- Substantial production, sales, and exports of automobiles drives the Europe elastomeric sealants market.
- Rise in demand for automobiles and gadgets as a result of changing lifestyles also propels the market growth.
- Dominant aerospace and defense sector leads to growth of the North America elastomeric sealants market. The U.S. has one of the world's most powerful militaries and demand for elastomeric sealants is high from this sector.
- Rise in demand from the building & construction sector in countries such as Saudi Arabia and the UAE propels growth of the LAMEA elastomeric sealants market.
- Asia-Pacific is the largest elastomeric sealants market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in automobile manufacturing and building construction is further driving the market growth in the region.
Key Benefits of the Report
- This study presents the analytical depiction of the elastomeric sealants industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the elastomeric sealants market share.
- The current market is quantitatively analyzed to highlight the elastomeric sealants market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed elastomeric sealants market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Elastomeric Sealants Market Report
- Who are the leading market players active in the elastomeric sealants market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is elastomeric sealants?
- What does elastomeric sealants market allow organizations to achieve?
- Which technologies combine to make elastomeric sealants a critical organizational asset?
- What is elastomeric sealants market prediction in the future?
- Who are the leading global players in the elastomeric sealants market?
- What are the current trends and predicted trends?
- What are the challenges faced in the elastomeric sealants market?
- What are the key benefits of the elastomeric sealants market report?
- What will be the anticipated growth rates for your own elastomeric sealants market economy altogether and for every segment inside?
Elastomeric Sealants Market Report Highlights
By Product Type
By End-Use Industry
Key Market Players
Sika AG, 3M, Dow Inc., DAP Products Inc., BASF SE, Arkema Group., H.B. Fuller, Ashland Inc., PPG Industries Inc., Huntsman International LLC