Polysulfide sealants Market Forecast Global Review 2021-2031
Posted by sachi kaushik on February 5th, 2021
Polysulfide sealants Market: Introduction
Sealants based on polysulfide polymers are solvent and chemical resistant, have good flexibility and adhere to various materials including steel, aluminum, concrete, glass, wood, etc. Polysulfides came into existence in the late 1920’s when an American chemist was trying to obtain ethylene glycol and polysulfide occurred in the process. Since then, polysulfide elastomers were extensively being used across huge application industries. The polysulfide sealants are majorly used in for such joints that have to withstand prolonged immersion in liquids. The global polysulfide sealants market is expected to foray ahead with a higher single digit CAGR over the forecast period of 2019-2029. Polysulfide sealants are picking pace owing to huge number of advantages served by them. Polysulfides show anti-corrosive properties, enhanced electrical insulation coupled with good flowability. In addition, polysulfide sealants show high physical and dielectric strength with capabilities of working efficiently at higher temperatures. Such properties allow them to be used across industries for a wide range of applications. The polysulfide sealants market is facing some of the challenges including low production and high costs. However, it is expected that the manufacturers would counter this challenge through technological advancements and innovation in the product.
High Demand from Application Industries is Providing Traction to polysulfide sealants Market Growth over Forecast Period
Growth in polysulfide sealants market is backed by construction, aerospace and marine industries. According to Society of Maritime Industries, seaborne trade volume will increase from 9 billion tonnes per annum to about 19 to 24 billion tonnes by the end of 2030. This would increase the demand for ships at an alarming rate creating adoption opportunities for polysulfide sealants. Furthermore, according to Institution of Civil Engineers, UK, a report “Global Construction Perspectives and Oxford Economics” suggests that the global construction market is expected to reach US$ 8 trillion by the end of 2030. Also, China, India and United States will lead the industry by accounting for about 57% of the global construction industry growth. Other than these, growing automotive industry also tends to open growth avenues for the polysulfide sealants market over the forecast period (2019-2029).
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Segmentation analysis of Polysulfide sealants Market
The global polysulfide sealants market is bifurcated into three major segments: Type, application and region
On the basis of type, the global polysulfide sealants market is divided into:
On the basis of application, the global polysulfide sealants market is divided into:
Based on region, the global polysulfide sealants market is segmented as:
Polysulfide sealants Market: Regional Outlook
The global polysulfide sealants market is segmented into six regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA. Among the above-mentioned regions, Europe is expected to contribute to a majority of the market share in 2018 in terms of volume owing to high adoption of polysulfide sealants across the application industries. Europe has a well-established marine and aerospace industry. Also, presence of huge automotive giants has created enormous opportunities for the European region for polysulfide sealants market. North America has captured a fair amount of percentage in the polysulfide sealants market. Moreover, South Asia and East Asia are expected to show high growth rates due to growing construction industry across India, China, Japan and other prominent countries. Furthermore, increasing population along with growing aerospace industry and high demand of efficient sealants also tends to supplement the regional growth till 2029. China is one of the key emerging markets for polysulfide sealants in the region. Moreover, Middle East is also one of the regions growing at a considerable rate owing to increasing construction activities backed up by aerospace industry. Latin America accounts for a substantial market share in terms of polysulfide sealants demand.
Key players of Polysulfide sealants Market
Prominent players in the global polysulfide sealants market are Pecora, Sika, Coastal Construction Products, Euclid Chemical, AkzoNobel and others. The polysulfide sealants market consists of well-diversified global and regional players with global vendors ruling the polysulfide sealants market.
The research report presents a comprehensive assessment of the Polysulfide sealants market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Polysulfide sealants market report provides analysis and information, according to market segments such as geographies, type and application.
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About the Authorsachi kaushik
Joined: January 19th, 2021
Articles Posted: 120
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