Polyurethane Sealants Market - Demand from Construction Industry to Boost Growth | Technavio
The global polyurethane sealants market is expected to grow at a CAGR of more than 5% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global polyurethane sealants market from 2017-2021.
Global polyurethane sealants market segmentation by type and geography
Technavio’s report on the global polyurethane sealants market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, which include non-foam PU sealant and foam PU sealant. Non-foam PU sealants have a greater market share as they have applications in different industries, such as construction, automobile, marine, and general industries.
Based on geography, the global polyurethane sealants market has been segmented into three key regions comprising of EMEA, the Americas, and APAC. The PU sealants market in EMEA is growing at a significant rate. This is due to the increased demand for PU sealants from various end-user industries in countries such as Russia, Turkey, Germany, Italy, and France.
“The growth in construction activities in the Middle East is one of the major factors fostering market growth in the region. The UAE government has provided investors with incentives, which will further attract them to the Middle East. Moreover, large-scale investments in infrastructure projects in the MEA market are creating an opportunity for PU sealant manufacturers and consumers during the forecast period,” says Hitesh Bhatia, a lead analyst at Technavio for additives, adhesives, and sealants research.
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Polyurethane sealants market: competitive vendor landscape
The global PU sealants market is fragmented with the presence of several vendors. The market is dominated by global vendors such as 3M, Arkema, BASF, Henkel, The Dow Chemical Company, and Sika. Many regional vendors are also present in the PU sealants market, especially in emerging regions such as APAC. Increasing urbanization and industrialization in developing regions such as India, Africa, and MEA has encouraged the entry of domestic vendors in the market.
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Other topics covered in the report:
Market drivers:
- Strong construction activities in developing countries
- Major focus on R&D
Market challenges:
- Limited supply of raw materials
- Innovation in other substitute sealants
Market trends:
- Rising popularity of eco-friendly and bio-based PU sealants
- Wide acceptance of PU sealants in emerging applications
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