The Construction Sealants Market is projected to reach USD 9.92 billion by 2022, at a CAGR of 5.6%
from 2017 to 2022. Asia-Pacific is the leading market for construction
sealants, in terms of value. Countries in
this region, including India, Indonesia, China, Malaysia, and Thailand are
witnessing an increase in the use of construction sealants.
Asia-Pacific is the leading market for construction sealants,
in terms of value. Countries in this
region, including India, Indonesia, China, Malaysia, and Thailand are
witnessing an increase in the use of construction sealants.
Asia-Pacific is expected to be the fastest-growing market for
construction sealants, owing to rapidly growing economies such as India and
China in the region. Economic growth of these countries has consequently led to an increase in the use of construction
sealants.
For instance, high investments are being made in the building & construction industry in the
region. Various companies in the market are shifting their production base to Asia-Pacific,
owing to the low cost of production and ease of serving emerging local markets.
The region accounts for over half of the world’s population,
making it an important region for global trade and commerce. Rapid developments
in the construction sealants technology in countries such as China, India,
Indonesia, Thailand, and Malaysia is expected to fuel the growth of the
Asia-Pacific construction sealants market.
China is estimated to lead the Asia-Pacific construction
sealants market due to high population and growing economy of the country. The
India construction sealants market is projected to grow at the highest rate
during the forecast period.
Based on resin type, the silicone segment is expected to grow
at the highest rate during the forecast period. The growth of this segment can be attributed to the increasing use of silicone
sealants in expansion joints for joining dissimilar materials, which provide
weather protection to high-rise buildings and flexibility for airport runways
and highways, as these sealants remain pliable and do not track in warm weather
or become brittle and crack in cold weather.
Based on application, the glazing segment is projected to
grow at the highest rate during the forecast period. Asia-Pacific, South
America, and the Middle East & Africa are the fastest-growing construction
sealants markets in the glazing application due to ongoing investments in
infrastructural development, increasing urbanization, and rising standards of
living in emerging countries such as India, China, Vietnam, Bangladesh,
Indonesia, Iran, and Brazil.
The construction sealants market in the glazing application
in Asia-Pacific is mainly driven by the
growing housing sector, ongoing urbanization, rising income levels, and
favourable government policies.
Reference: https://www.marketsandmarkets.com/Market-Reports/construction-sealants-market-104100934.html?utm_source=blog%2FML
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