Joint Sealants Market Expected to Reach $1.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Joint Sealants Market," The joint sealants market size was valued at $1.0 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

Joint sealant reduces the penetration of incompressible material and surface water into the joint system. Additionally, it is believed to reduce the risk of connecting bar corrosion by limiting the entry of de-icing chemicals. Joint sealants also block air leakage, insects, dust, sound, and heat. These are flexible and capable of functioning as expected even with intense heat, sunlight, and moisture.

The ideal properties of joint sealants include durability, flexibility, resistance to chemicals and environmental factors, and it should be consistent. These are often used for allowing volume change in concrete, thermal and sound insulation. The primary purpose of joint sealants is to enhance thermal performance, absorb vibrations, and prevent the accumulation of foreign objects in joints. The joint constantly opens and closes while being exposed to the elements, and the sealant performs its primary role while it is repeatedly contracted and expanded.

The joint sealants market growth is driven by an increase in demand for these products in a range of industries such as construction, transportation, aerospace, healthcare, and others. Joint sealants are widely used in the medical sector in medical equipment, devices and other instruments. These provide more design flexibility because of their high compatibility, ability to adhere to challenging substrates, and simplicity of application. It offers increased durability due to its resistance to chemical exposure and changes in temperature.

Manufacturers worldwide are providing their products used in the construction of medical devices and equipment. For instance, Master Bond Inc., offers its technologically advanced joint sealants compounds to meet the increasingly challenging requirements of manufacturers of medical diagnostic equipment. These formulations feature high bond strength to similar and dissimilar substrates, offer high/low temperature resistance, withstand exposure to moisture and chemicals and have long-term durability.

The assembly of sealants, however, emits no volatile organic compounds (VOC), which can result in several health-related problems, including conjunctivitis, shortness of breath, weakness, tremors, skin problems, and others. Also, exposure to VOC in high concentrations may irritate the lungs, damage the liver, kidneys, and focal sensory system, and result in other chronic disorders.

Additionally, a few administrative authorities, including the European Union Law and the United States Environmental Protection Agency (US EPA), have established regulations and guidelines to limit the use of harmful or natural mixtures in the manufacturing of joint sealants. Consequently, these factors are predicted to reduce demand for joint sealants across a range of end uses, hence limiting market growth.

The increase in infrastructural development due to urbanization, population growth and increase in per capita income has developed excellent opportunities. Also, rise in construction of roads, pavements, bridges, and highways has stimulated infrastructural growth.

 The joint sealants market is segmented into type, end-use industry, and region. By type, the market is divided into polyurethane joint sealants, silicone joint sealant, polysulphide joint sealant, hot poured joint sealant and others (acrylic, epoxy, PTFE). The end-use industry segment is categorized into building and construction, transportation, general industrial, electrical and electronics and others. Region wise, the joint sealants market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the polyurethane joint sealants segment held the largest share in the market as it is resistant to moisture and chemicals. Also, it is highly regarded for its flexibility. Polyurethane is widely used as a coating for wood and is an efficient sealing compound. It is effective as a coating due to the same reasons that make it a great sealant.

On the basis of end-use industry, the building and construction segment accounts for maximum market share as joint sealants are used majorly to construct, protect, and maintain residential constructions. In addition, these are utilized in various applications for vibration dampening, preventing corrosion, and laminating and sealing windows.

On the basis of region, Asia-Pacific holds the highest market share due to highly developed automotive sector in China and the continuous investments done in the region through the years to advance the construction sector.

The key players operating in the joint sealants industry are 3M, American Sealants, Inc., Hodgson Sealants, ITW Performance Polymer, MAPEI S.p.A., NANPAO RESINS CHEMICAL GROUP, Pidilite Industries Limited, RPM International Inc., Sika AG and Wacker Chemie AG. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market.

Key finding of the study: 

• By region, Asia-Pacific is projected to grow at the highest CAGR of approximately 4.9%, in terms of revenue, during the forecast period.
• By type, the silicone joint sealant segment is anticipated to grow with CAGR of 5.1%, in terms of revenue, during the forecast period.
• By application, building and construction dominated the market in 2021.