Building and Construction Sealants Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific industry is expected to hold largest revenue share of 42.7% by 2035. The combination of factors that have elevated the status of the Asia Pacific region to be the dominant force in the building and construction sealants market is attributed to rapid urbanization brought about by the huge migration of people from the countryside into the cities. The local governments have therefore begun several programs to develop transportation networks, public housing, and other commercial facilities to upgrade the infrastructure. All these factors serve to increase the demand for sealants.
The construction industry in the region is growing unparalleled due to the investment in residential, commercial, and industrial construction. Furthermore, the large and prospering middle-class population in the region has brought about an ever-increasing demand for housing infrastructure and construction projects. Such demand assists to surge the increased use of sealants in various applications. Therefore, the. It is expected to continue with its dominance in the foreseeable years. In India, in December 2021, Sika announced the inauguration of a new technology center and manufacturing plant for high-quality adhesives and sealants in Pune.
North America Market Insights
North America is the fastest growing region in the building and construction sealants market followed by the Asia Pacific. Advancements in renewed construction activities, greater emphasis on energy-efficient buildings, and increased demand for sustainable and eco-friendly sealant solutions also drive the demand in the building and construction sealants market. The construction industries in the region have been rising remarkably due to governmental initiatives, low interest rates on loans, and a healthy economy, which consequently raises the consumption of sealants across applications such as building construction, renovation, and maintenance activities. Furthermore, increased focus on energy-efficient buildings and sustainable construction methodologies has improved the usage of value-added sealant technologies such as low-VOC and silicone-based sealants, driving the building and construction sealants market further.
Growth in the U.S. building and construction sealants market is driven by its evolving and well-established construction industry such as Lord Corp., American Sealants Inc. involved in sealant manufacturing containing unique features to meet market demands. Canada also recorded remarkable growth in recent years impelled by local government investments in infrastructure development. Moreover, its rapid growth trajectory and increasing demand for sealants are escalating share in the global building and construction sealants market.
