Wellesley, Mass, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Improved assembly processes have introduced new market applications that have pushed growth in the global markets for sealants and sealant applicators. BCC Research cites as an example in its new report that nanoengineered sealants that combine superior mechanical properties with wear resistance and dimensional stability are growing demand across various industries.
Sealants are substances prepared from various chemicals to make surfaces airtight and watertight to prevent the escape of solids, gases and liquids. Viscous materials that have little or no flow characteristics, sealants become solid after application and remain where they are applied.
The global market for sealants and sealant applicators should reach $21.5 billion and $26.4 billion in 2016 and 2021, respectively, growing at a five-year compound annual growth rate (CAGR) of 4.2%. Sealants, the largest market segment, are expected to grow from nearly $17.8 billion in 2016 to nearly $22.1 billion in 2021, demonstrating a five-year CAGR of 4.4%. Sealant applicators as a segment should reach $4.4 billion in 2021, up from $3.7 billion in 2016, demonstrating a five-year CAGR of 3.4%.
The growing demand for sealants is readily apparent across many industries. They are seeing growing use as acoustical and thermal applications in construction, packaging, woodworking and transportation. Also, they are increasingly being used in the construction sector for building, maintaining and protecting residential and commercial structures. In the transportation sector, especially in automobiles, sealant use is rising as applications that seal and glaze windows, offer corrosion protection, and provide vibration and sound dampening.
Because the market depends greatly on secondary industries, trends in other sectors of the economy can significantly impact the industry. For example the automotive industry is showing rising interest in sealants. Several automakers joined with sealant makers to develop industry-specific applications that will cut costs, reduce weight and even increase the recyclability of cars made with these products.
"The sealant industry has been growing steadily, albeit slowly. Individual companies seeking to increase their revenues have looked to mergers and acquisitions, particularly in foreign markets, where industry growth is expected to surpass that in the United States,” says BCC Research analyst Srinivasa Rajaram. "Meanwhile, foreign companies have increasingly invested in U.S. firms, which has globalized and consolidated the industry."
Sealants and Sealant Applicators: Technologies and Global Markets (CHM074B) analyzes both the global and regional markets for sealants, with the purpose of locating newer markets and expanding the present market position for various types of sealants. The report also examines product life styles and technology life styles of various types of sealants and methods employed by manufacturers and users in maintaining an ecological balance. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
