Building and Construction Sealants Market Size
Market Outlook:
Base Year Value (2023)
USD 10.39 Billion
CAGR (2024-2032)
6.2%
Forecast Year Value (2032)
USD 17.85 Billion
Historical Data Period
2019-2023
Largest Region
Asia Pacific
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The growing demand for energy-efficient buildings and infrastructural development projects are major drivers for the building and construction sealants market. The increased focus on sustainable construction practices and regulations promoting the use of energy-saving materials have further propelled the market growth. Additionally, the rise in urbanization and the need for improved building materials in emerging economies are creating new opportunities for market expansion.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Resin, Technology, Application |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Dow, Shin-Etsu Chemical Company, Wacker Chemie AG, 3M, Tremco Incorporated, Bostik, Sika AG |
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The volatile raw material prices and the environmental concerns related to the use of sealants are major restraints for the building and construction sealants market. Fluctuations in crude oil prices directly impact the production costs of sealants, affecting their market price and profitability. Moreover, the potential environmental risks posed by some sealant formulations have raised concerns among regulators and consumers, thus hindering the market growth.
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