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Polyurethane Elastic Sealant and MS Sealant Market to

March 25, 2024 08:30 ET | Source: AstuteAnalytica India Pvt. Ltd. AstuteAnalytica India Pvt. Ltd.

New Delhi, March 25, 2024 (GLOBE NEWSWIRE) -- According to Astute Analytica, the global polyurethane elastic sealant and MS sealant market is projected to attain a market valuation of US$ 6,289.4 million by 2032 from US$ 3,786.5 million in 2023 at a CAGR of 5.8% during the forecast period 2024–2032. Clear Silicone Caulk

Polyurethane Elastic Sealant and MS Sealant Market to

The worldwide market for polyurethane elastomer and MS sealants is growing at an alarming rate. This growth is fueled by the constant increase in construction and infrastructure, especially in developing countries where urbanization is ramping up. Because of their durability and flexibility, these two kinds of sealants are ideal for construction applications. The global construction industry’s worth is projected to go above $13.9 trillion by 2037. As the world becomes more environmentally conscious, so does the demand for low VOC content products like MS sealants. In turn, this will help drive the market value of green building materials to $425 billion by 2029.

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All of these advancements are only furthering this surge in the polyurethane elastic sealant and MS sealant market. UV resistance has been improved in many newly formulated sealants, while curing times have now been cut down to mere hours (often even less). With such great benefits, it was only a matter of time before other industries caught on as well. The automotive industry alone may lead the worldwide automotive adhesives and sealants market to be valued at $10 billion by 2030. The forecast made by Astute Analytica predicts a CAGR of 5.8% between the years 2023 and 2031 for both kinds of sealant mentioned earlier. Spearheaded by China and India’s booming construction and manufacturing sectors, Asia-Pacific can expect massive growth during this time period as well. Sika AG, Henkel AG, along with other regional specialists make up the competitive landscape as they continue investing heavily into research and development.

Key Findings in Global Polyurethane Elastic Sealant and MS Sealant Market

Polyurethane Elastic Sealants to Generate More than 67.5% Revenue of Global Polyurethane Elastic Sealant and MS Sealant Market

The polyurethane elastic sealants market is booming. There’s been a big increase in investments in research and development, new companies are entering the market, and all of that has led to massive innovation in products and technology. On top of that, the construction industry is also driving demand for polyurethane sealants. Polyurethane sealants are super useful when it comes to waterproofing stuff, sealing joints, and perimeter sealing of windows and doors. In addition to buildings, they’re used in cars for manufacturing, auto glass repair, and sealing metal structures. Lastly — they’re used to reduce vibration when making or installing heating, ventilation, and air conditioning systems.

This growth is exploding in Asia-Pacific regions where rapid urbanization and rising incomes have created a lot of construction projects. Plus, more consumers care about the environment these days so there’s an increased demand for eco-friendly low VOC sealant products. Polyurethane sealants fit this need perfectly. They’re also just generally great because they can absorb stress well while staying flexible and not corroding.

Building and Construction Sectors is Giants with Revenue Share of More than 39.7%

The polyurethane elastic sealant and MS sealant market benefits greatly from global construction growth. The global industry is expected to reach $10.5 trillion by 2023 and $13.9 trillion by 2037, with China, the US and India leading the way in this massive expansion. These countries will experience increased demand for these versatile sealants across a wide range of sectors. Residential housing provides a solid foundation for the market’s success, as it requires massive quantities of sealant. In 2022, the US spent $834.4 billion on residential structures and developed 1.6 million new homes — each of which needs sealing and weatherproofing. Additionally, $357 billion was dedicated to renovations and improvements to existing residential properties, so there will be no shortage of work for these products. On the commercial side, $59.6 billion was invested in private office construction and $125.8 billion was spent on general commercial buildings last year.

Retail building starts ($25 billion) almost perfectly equaled hotel/motel ($25.4 billion), which means demand for sealants can be tailored to suit specific needs in both spaces. Thus, adding more fuel to the growth of the polyurethane elastic sealant and MS sealant market.

Infrastructure development represents another significant area where elastic sealants will find a home — or rather many homes! The large amounts of spending earmarked for transportation ($157.8 billion), power ($109.8 billion) and sewage/waste disposal systems ($30.6 billion) in 2023 forecast high consumption rates for these products across various projects that include waterproofing power plants or sealing roads/bridges/concrete structures.

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Competitive Landscape: Top 6 Players Holds Less than 35% Revenue Share of Global Polyurethane Elastic Sealants and MS Sealants Market

Consolidation and stiff competition are the name of the game in the polyurethane elastic sealant and MS sealant market. Some of the major players include Sika AG, Dow Chemicals, Bostik, H.B. Fuller, Henkel, and 3M — all of which continue to broaden their reach through acquisitions and product innovation as they vie for dominance in market share. This makes sense with the way things are going. With regional manufacturers looking to capture a significant piece of their respective markets, you’re starting to notice a whole bunch of specialized sealant solutions popping up that cater to local demands.

The future is pretty bright for this industry. There seems to be no stopping construction projects in developing economies that are desperate for new housing and infrastructure -- and so it will perpetually need more sealants. Additionally, it seems like everybody wants lighter cars these days too. This has presented opportunities for sealants suppliers thanks to their growing demand from automotive manufacturing (which also happens to be driving down costs). According to Astute Analytica though, moving forward fluctuating raw material costs, evolving environmental regulations, and continuous technological breakthroughs will eventually nudge the polyurethane elastic sealant and MS sealant market out of its comfort zone a bit -- reshaping what we think we know about polyurethane elastic sealants and MS sealants while at the same time forcing companies within in it into some heated competition with one another for survival's sake.

Global Polyurethane Elastic Sealant and MS Sealant Market Key Players

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Polyurethane Elastic Sealant and MS Sealant Market to

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