Elastomeric Sealants demand has been more challenging than before due to the novel COVID 19 pandemic that has affected the market. Market Research Future (MRFR) and its analysts are mapping out the course of Coronavirus to less impact the Global Elastomeric Sealants Market and maintaining the economy. Through a thorough study, MRFR has accumulated figures that the market is expected to gain over USD 5.52 billion by 2025, with 5.92% CAGR. The expected valuation and all growth prospectus might happen during 2017—2025—the forecasted period.
Key Vendors in the Global Elastomeric Sealants Market are VCM Polyurethanes Pvt. Ltd (India), The Dow Chemical Company (US), 3M (US), Arkema (France), Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Sika AG (Switzerland), PPG Industries, Inc. (US), RPM International Inc. (US), Mapei SpA (Italy), Wacker Chemie AG (Germany), and KCC CORPORATION (South Korea).
Elastomeric Sealants Market – Boomers & Trends:
Global Elastomeric Sealants Market is witnessing a superior growth in recent years, owing to the various benefits that it offers other than traditional sealants. It provides good flexibility, heat resistance, durability, and adhesions essential in various applications such as marble works, roof building, cladding, and others. They can also be used on surface types such as steel, stone, concrete, and other polymers. These factors have emerged as influential for the Elastomeric Sealant Market’s Growth over time.
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MRFR finds that the rising demand in the construction industry is a foremost driver for the elastomeric sealants market. Boost in construction activities in developing countries has immensely made elastomeric sealants used in solar and wind power equipment. The mending of the construction sector in the U.S. has fueled the Global Elastomeric Sealants Market. In fact, the growing demand for PS (polysulfide) elastomeric sealants in the aerospace & defense industry and escalating concerns regarding the use of eco-friendly construction sealants have also facilitated the market to grow over time.
Other than this, in the construction sector, Elastomeric Sealants are also widely used owing to the factors of durability, flexibility, and adhesion. Strict regulations concerning environmental issues have led to a rise in the consumption of solar and wind power equipment, thus driving the Elastomeric Sealants Market.
Despite these factors, also in the construction industry, foam tapes are replacing Elastomeric Sealants, which are projected to hold back the market growth in the forecast period. Regulations regarding the VOC content of Elastomeric Sealants are yet another restraint for the Elastomeric Sealants Market. But, the factor of elevated growth of the automotive industry in developing countries, along with the mount in demand for bio-based and eco-friendly sealants, are positively offering growth opportunities to the Elastomeric Sealants Market.
Global Elastomeric Sealants Market is further being studied under the segments of Type and End-Use Industry.
By the Segment of Type, Global Elastomeric Sealants Market has included polysulfide, silicone, silane-modified polymers, polyurethane, and others.
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By the Segment of the End-Use Industry, Global Elastomeric Sealants Market has included automotive, building & construction, aerospace & defense, electrical & electronics, marine, and others.
Asia Pacific region might become the leading market for elastomeric sealants during the assessment period. Rising infrastructure activities and growth of construction, automotive & transportation, and electronic industries in developing countries such as China and India are probable to boost the market in the Asia Pacific in the near future.
Europe is considered as a hub for the automotive industry, and wherein Elastomeric Sealants are used in diverse applications, which is making the market more stable.
North America grabs a considerable share of the Global Market for Elastomeric Sealants, owing to the growth in the aerospace & defense sector in the region.
The market in Middle East & Africa is likely to witness substantial growth during the assessment period. The growth owes to demand from the building & construction sector in Saudi Arabia and the UAE.
COVID-19 Study in Detail:
COVID-19 Impact Analysis on Bio-Based Chemicals Market @ https://www.marketresearchfuture.com/report/covid-19-impact-bio-based-chemicals-market
COVID-19 Impact Analysis on Surfactant Market @ https://www.marketresearchfuture.com/report/covid-19-impact-surfactant-market
Impact of COVID-19 on Recycled Polyethylene Terephthalate Market @ https://www.marketresearchfuture.com/report/covid-19-impact-recycled-polyethylene-terephthalate-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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