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A10484 | Pages: 570 | Charts: 76 | Tables: 219 |
The global polyurethane sealant market was valued at $3 billion in 2022, and is projected to reach $4.6 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
Introduction
Polyurethane sealant is a type of adhesive and sealing material made from polyurethane polymers, known for its strong bonding properties, flexibility, and durability. It is commonly used in construction, automotive, and industrial applications to seal joints, fill gaps, and provide a waterproof and weather-resistant barrier. Polyurethane sealants adhere well to a variety of surfaces, including concrete, metal, wood, and plastic, and can accommodate movement without cracking or losing adhesion. Their high resistance to environmental elements such as moisture, UV rays, and temperature fluctuations makes them ideal for both indoor and outdoor use.
Report Key Highlighters:
Polyurethane sealant is a type of versatile and durable adhesive material commonly used for sealing joints and gaps in various applications. It is formulated from polyurethane, a polymer composed of organic units joined by urethane links. Polyurethane sealants exhibit a range of properties that make them suitable for diverse sealing and bonding applications.
The construction industry is a major driver of the polyurethane sealants market owing to the fact that polyurethane sealants are widely used in construction for sealing joints, gaps, and cracks in buildings, bridges, highways, and other infrastructure projects. Furthermore, rapid urbanization and population growth contribute to increased construction activities, driving the demand for polyurethane sealants. As urban areas expand, there is a need for sealing and bonding materials in both residential and commercial construction.
Moreover, the automotive industry is a significant consumer of polyurethane sealants. Polyurethane sealants are used for bonding and sealing applications in vehicle assembly. With the growth of the automotive sector, the demand for polyurethane sealants has increased.
However, polyurethane sealants are relatively more expensive compared to other sealant options. The initial cost of polyurethane sealants is a restraining factor, especially in cost-sensitive applications or industries. These factors directly influence the price of organic chemicals and make them costlier. Moreover, the prices of raw materials used in the production of polyurethane sealants, such as polyols and isocyanates, can be volatile. Fluctuations in raw material prices affect the overall cost of manufacturing polyurethane sealants.
On the contrary, government initiatives and increased investment in infrastructure projects, such as roads, bridges, and public facilities, provide opportunities for the use of polyurethane sealants in sealing joints, expansion joints, and other critical areas.
The polyurethane sealants market is segmented on the basis of component, type, end-use industry, and region. On the basis of component, the market is categorized into one component (1C) polyurethane sealants and two-component (2C) polyurethane sealants. On the basis of type, it is divided into self-levelling polyurethane sealants, high-performance polyurethane sealants, construction-grade polyurethane sealants, marine-grade polyurethane sealant, and others. On the basis of end-use industry, the market is categorized into building & construction, marine, aerospace, automotive, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
[COMPONENTGRAPH]
In 2022, the one component (1C) polyurethane sealants segment was the largest revenue generator, and is anticipated to grow at a CAGR of 4.4% during the forecast period. One of the primary reasons for the popularity of one component (1C) polyurethane sealants is their user-friendly nature. They come in pre-mixed formulations, eliminating the need for on-site mixing of components. This simplicity makes them easy to use for both professionals and DIY users. The ready-to-use nature of 1C polyurethane sealants reduces labor and application time.
Contractors and installers appreciate the convenience of a sealant that does not require complex mixing procedures, contributing to overall project efficiency. Moreover, 1C polyurethane sealants are versatile and can be used in a wide variety of applications. They adhere well to various substrates, making them suitable for sealing joints, gaps, and cracks in different materials such as metals, plastics, concrete, and wood. These factors altogether may surge the demand for one component (1C) polyurethane sealant; thus, fueling the polyurethane sealant market growth.
[TYPEGRAPH]
By type, the construction grade polyurethane sealants segment dominated the global market in 2022, and is anticipated to grow at a CAGR of 4.6% during the forecast period. Construction-grade polyurethane sealants are formulated to provide durable seals in construction joints, expansion joints, and other structural applications. As construction activities increase globally, the demand for reliable sealing solutions in building and infrastructure projects has grown. In addition, construction sites often experience structural movements, expansions, and contractions.
Construction-grade polyurethane sealants are designed to accommodate these movements, ensuring that seals remain intact and effective over time. Furthermore, these sealants adhere well to a variety of substrates commonly found in construction, including concrete, masonry, metal, and wood. Their versatility allows for use in different construction scenarios, providing a consistent and reliable seal. These factors may augment the demand for construction-grade polyurethane sealants; thus, leading the polyurethane sealant market to witness a significant growth.
[ENDUSEINDUSTRYGRAPH]
By end-use industry, the building and construction segment dominated the global market in 2022, and is anticipated to grow at a CAGR of 4.8% during forecast period. Polyurethane sealants are highly versatile and can be formulated to meet a wide range of construction needs. Their adaptability makes them suitable for various applications, from joint sealing to bonding to different substrates. Furthermore, polyurethane sealants offer excellent flexibility, allowing them to accommodate movement and expansion in building materials. This flexibility is crucial in applications such as sealing joints and cracks, where structural movement is common.
In addition, polyurethane sealants adhere well to a variety of substrates, including concrete, metal, wood, plastics, and masonry. This versatility makes them suitable for different construction scenarios and materials. These factors altogether may surge the demand for polyurethane sealants for building and construction applications.
[REGIONGRAPH]
The Asia-Pacific polyurethane sealant market size is projected to grow at the highest CAGR of 5.1% during the forecast period and accounted for 44.9% of the polyurethane sealant market share in 2022. The construction industry in Asia-Pacific has been a major consumer of polyurethane sealants. Rapid urbanization, population growth, and infrastructure development projects have led to a continuous demand for sealants in various construction applications.
Furthermore, large-scale infrastructure projects, including the construction of highways, bridges, airports, and other public facilities, have driven the demand for polyurethane sealants. These sealants are crucial for sealing joints, gaps, and providing durability in infrastructure components.
The global polyurethane sealant market profiles leading players that include Arkema, Henkel AG And Co. KGaA, Sika AG, BASF SE, 3M, Soudal Group, ASTRAL ADHESIVES, HB Fuller Co, The Dow Chemicals Company, and Pidilite Industries Limited. The global polyurethane sealant market report provides in-depth competitive analysis as well as profiles of these major players.
Key Developments
In November 2023, Henkel launched its first bio-based polyurethane (PUR) adhesives specifically designed for load-bearing timber construction. The new Loctite engineered wood adhesives, HB S ECO and CR 821 ECO, offer a sustainable alternative by reducing CO₂-equivalent emissions by over 60% compared to traditional fossil-based adhesives.
In March 2023, Bostik, a leading global adhesive specialist, expanded its research and development capabilities by inaugurating a new technology lab in Shanghai. This facility serves as an extension of Bostik’s Asia Technology Center (ATC), strengthening the company’s innovation and development efforts in the Asia-Pacific region.
Key Benefits For Stakeholders
Key Market Segments
Key Market Players