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Construction Sealants Market is expected to uphold an impressive revenue by 2024

Author : Rahul Varpe | Published Date : 2019-05-01 

Global Market Insights provides a detailed overview of Construction Sealants market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Construction Sealants market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Construction sealants market has been experiencing exponential growth since the last few years, driven by the fact that sealants effectively protect buildings against external corroding forces and seal off apertures that can cause a building to lose its heating or cooling capacities. Riding mainly on the parameter of energy efficiency, market size is likely to increase massively over the next few years, given that these sealants help fend off dust, pollution, noise and other undesirable elements out of the building.

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With the industrial, commercial and residential construction spheres expanding at an appreciable rate, it is inevitable for the revenue graph of construction sealants industry to depict an upward trajectory as well. Reliable statistics stand testimony to the aforementioned fact – in 2016, construction sealants market size was pegged at USD 4.5 billion, and is expected to uphold an equally impressive revenue projection in the forecast period of 2017-2024.

Silicone based construction sealants market may register gains at over 4% over the forecast timeframe. Properties such as high strength, flexibility, excellent durability, UV and moisture resistance along with rising consumer awareness about environment issues and shifting trends towards green construction materials should drive industry growth.

Polyurethane (PU) based construction sealants market is likely to surpass USD 2 billion by 2024. Strong application scope in flooring and joining for bridges, tunnels and bridges due to its excellent mechanical resistance may help withstand smoke, water, cracking, and UV degradation which may stimulate industry growth.

Increasing application outlook in structural glazing owing to its ease of usage on aluminum, glass, windows, safety user friendly dispensing and cost effectiveness should drive industry growth. Structural glazing applications from construction sealants market is poised to exceed USD 3.1 billion over the foreseeable timeframe. Shift in consumer trends towards modern infrastructure along with rise in economic standards should propel product demand.

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Construction sealants market is projected to witness major growth in Asia Pacific, given the fact that the continent is one of the pivotal hubs for the growth of the construction industry, especially across the emerging economies of China and India. Financial assistance provided by the regional governments and the rising living standards have stimulated the commercial as well as residential construction industry in these countries, which has in turn stimulated the market. As per estimates, APAC construction sealants industry is predicted to surpass USD 2.5 billion by 2024.

Construction sealants are still a highly favored option as they have a lower VOC content and are more flexible in their structure. Key industry players like 3M, Sika AG, Dow Corning, Bostik and Tremco are conducting extensive research and development programs to bring better construction sealants to the market that will be more elastic in nature and will allow joint movements, more gap filling and have a quick drying time. With expansion of the construction industry and addition of innovative sealant types, construction sealants industry is projected to witness consumption of over 700 kilo tons by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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