Polyurethane Sealants Market by Type (One-Component and Two-Component), End-Use Industry (Building and Construction, Automotive, General Industrial, Marine), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2027
The Polyurethane Sealants market is projected to grow from USD 2.7 billion in 2022 to USD 3.3 billion by 2027, at a CAGR of 4.1%. Glycol and isocyanate react to form polyurethane sealants, which are then produced. It is a compound that is well known for its flexibility and has good resistance to moisture and corrosion. The expansion and contraction of the joint is a common issue with joints. The material's flexibility makes it extremely resistant to cracking brought on by the shifting of joint components. One of the differences is that silicone sealants and adhesives are inorganic, whereas polyurethane sealants and adhesives are organic and natural. Polyurethane sealants are less durable than other high-quality silicone sealants because of their organic composition. One form of sealant that has single-component elastomeric qualities and a tendency to dry at room temperature and humidity is polyurethane sealant.
Attractive Opportunities in Polyurethane Sealants Market
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Polyurethane Sealants Market Dynamics
Driver: One of the differences is that silicone sealants and adhesives are inorganic, whereas polyurethane sealants and adhesives are organic and natural. Polyurethane sealants are less durable than other high-quality silicone sealants because of their organic composition. One form of sealant that has single-component elastomeric qualities and a tendency to dry at room temperature and humidity is polyurethane sealant. Over the next five years, housing and construction activities will gradually expand across North America and Europe. The construction industry in China is anticipated to increase more quickly than in Europe or North America, despite a significant slowdown during the previous two to three years. Construction levels are rising in nations like India, Southeast Asia, and South America to keep up with the increased rates of urbanization brought on by people moving from rural areas to cities for the better earnings. Construction activity will increase as a result of infrastructure investment. To increase the productive capacity of their economies and fuel the post-Covid economic recovery, governments around the world continue to support significant infrastructure investments. The growth in construction activity will augment the demand for polyurethane sealants.
Restraints: The price and availability of raw materials are key for sealant manufacturers to determine their products' cost structure. The raw materials used by the sealant industry include plastic resins, synthetic rubber, inorganic chemicals, industrial inorganic chemicals, and refined petroleum products. Most of these raw materials are petroleum-based derivatives and are vulnerable to fluctuations in commodity prices. Oil prices have been highly volatile since the end of September 2022, fluctuating by over 11.0%. Rising global demand and recent geopolitical unrest due to the Russia - Ukraine war have been primarily responsible for price fluctuations.
The sealant industry is also affected by higher transport costs due to rising fuel prices and higher manufacturing costs resulting from increasing energy costs. Sealant manufacturers have responded by passing on such price rises to end users, thus, resulting in a decrease in demand.
The price increase is attributed to the ongoing escalation in petrochemical-based raw material costs over the last few months. In addition, consistent global demand and capacity constraints in the production of primary chemicals, rosin, and resin feedstock have further resulted in the imbalance in the demand and supply, and prices of raw material of sealants.
Opportunity: Automotive production is mature in North America and Europe. However, the industry in emerging regions such as Asia-Pacific, South America, and the Middle East & Africa is growing. Growth of polyurethane sealants demand is expected in the automotive sector as the industry moves from lower-priced plastisols sealants to polyurethane sealants. Many sealants are presently used in passenger cars in North America and Europe. However, Asia-Pacific, South America, and the Middle East & Africa use comparatively less amount of sealants due to the adoption of traditional techniques by car manufacturers in these regions. Hence, there is a broad scope for sealant technology to penetrate these regions.
The presence of key manufacturers such as Toyota Motor Corporation (Japan), Nissan Motor Company Limited (Japan), and other top players increased polyurethane sealants consumption in these regions. This is likely to boost the growth of the global polyurethane sealants market. Emerging countries of Asia-Pacific, South America, and the Middle East & Africa are witnessing a number of developments in the automotive industry. These regions have become a hot spot for industrial products in the world.
Challenges: The polyurethane sealants market growth is attributed mainly to the demand from various end-use industries, which further depends on the micro and macroeconomic factors affecting that industry. The economic crisis of 2022 after the Russia-Ukraine war affected the U.S. and European countries substantially, reflected in the low growth in the last quarter of the year. Asia-Pacific countries were also affected, but to a lower extent. Moreover, the after impact of COVID-19 has brought economic crisis in the U.S. and led to significant decline in the growth of automotive and building & construction sectors between 2019 and 2021. As a result, the manufacturers of polyurethane sealants reported lower demand, which had a negative impact on many technologies of polyurethane sealants. Such economic cycles have also adversely affected the R&D on polyurethane sealants. The global decline in production output in 2021 among key industrial end users significantly influenced the development of polyurethane sealants, especially, in automotive, general industrial, and building & construction industries.
Polyurethane Sealants Market Ecosystem
Based on Type, One-Component segment is estimated to account for the largest market share of the Polyurethane Sealants market
One-component polyurethanes are famous for their elastic qualities, which allow for less shrinkage deformation during curing, greater absorption of external pressure from vibrations and impacts, strong mechanical performances, and adherence to a wide range of substrates. One-component polyurethane can be used for sealing as well as bonding. They provide great mechanical capabilities, adhesion to a wide range of substrates, improved elasticity that permits less shrinkage deformation during curing, and better absorption of external pressure from vibrations and impacts. As a result, flexible lamination, building and construction, transportation, and assembly applications benefit greatly from using one-component polyurethanes.
Based on End Use Industry, the Building and Construction segment is anticipated to dominate the market
In the building & construction segment, polyurethane sealants are mainly used in ceramic tile & flooring installation, pipe cement, roofing, and wall coverings. The revival of the building & construction industry in North America, along with the infrastructure, building & construction of smart cities, and rebuilding efforts after a spate of natural disasters such as earthquakes and tsunamis in Asia-Pacific, are expected to drive the polyurethane sealants market in the building & construction industry in the region.
Polyurethane sealants fix the car upholstery and have several other uses in automobiles. These sealants are formulated with elastomers which give them the required flexibility; they are also used to enhance the dielectric strength. The automotive industry (which includes automotive module sealing using liquid gasket sealants, electronic circuit board protection using liquid potting and encapsulants, exterior vehicle trim, interior vehicle trim, marine, powertrain & under-the-hood components, and vehicle assembly) is driving the polyurethane sealants market as the industry is moving from low-priced plastisols to polyurethane sealants.
The Asia Pacific market is projected to contribute the largest share of the polyurethane sealants market.
Asia Pacific is expected to lead the paints and coatings market in 2022. Asia Pacific is increasingly becoming an important global trade and commerce center. The region is currently the fastest-growing and largest market for polyurethane sealants. With economic contraction and saturation in the European and North American markets, demand is increasing in Asia Pacific. According to the World Bank, manufacturers of polyurethane sealants are targeting this region, as it has the largest construction industry, accounting for approximately 40% of the global construction spending.
The Chinese market for polyurethane sealants has grown rapidly and is projected to witness high growth in the next 5 years due to the continuous shift of the global polyurethane sealants production facilities into the country. In addition, India, Thailand, and Indonesia are investing heavily in new construction projects, which will likely influence the market growth in these countries.
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Key Market Players
The polyurethane sealants market is dominated by a few globally established players such as 3M (US), Arkema N.V. (Bostik) (Netherlands), Sika AG (Switzerland), H.B Fuller (US), Henkel AG & Co.KGaA (Germany), BASF SE (US), The Dow Chemical Company (US), MAPEI S.p.A (Italy), Asian Paints Ltd. (India), ITW Polymers Sealants North America, Inc (US), among others, are the key manufacturers. Major focus was given to the contracts and new product development due to the changing requirements of end users across the world.
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Report Metric |
Details |
Market size available for years |
2018-2027 |
Base year considered |
2021 |
Forecast Period |
2022-2027 |
Forecast Units |
Value (USD Billion) |
Segments Covered |
By Type, By End Use Industry, By Region |
Geographies Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Companies covered |
3M (US), Arkema N.V. (Bostik) (Netherlands), Sika AG (Switzerland), H.B Fuller (US), Henkel AG & Co.KGaA (Germany), BASF SE (US), The Dow Chemical Company (US), MAPEI S.p.A (Italy), Asian Paints Ltd. (India), ITW Polymers Sealants North America, Inc (US) |
Based on type, the polyurethane sealants market has been segmented as follows:
- One-Component
- Two-Component
Based on technology, the polyurethane sealants market has been segmented as follows:
- Building and Construction
- Automotive
- General Industrial
- Marine
- Others
Based on the region, the polyurethane sealants market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Recent Developments
- In July 2021, Bostik, the Adhesive Solutions division of Arkema, had launched an ambitious development programme strengthening its polyurethane (PU) sealants with a particular focus on Sealing & Bonding applications for the construction market. This new range of products enables Bostik to be well positioned in this business is driven by new construction in emerging countries and steady demand for higher quality solutions.
- In July 2021, Bostik, the Adhesive Solutions division of Arkema, had launched an ambitious development programme strengthening its polyurethane (PU) sealants with a particular focus on Sealing & Bonding applications for the construction market. This new range of products enables Bostik to be well positioned in this business driven by new construction in emerging countries and steady demand for higher quality solutions.
- In January 2020, 3M entered into an agreement to acquire EMFI S.A. and SAPO S.A. (“EMFI/SAPO”), manufacturers of polyurethane-based structural adhesives and sealants headquartered in Haguenau, France, that complement 3M Industrial Adhesives and Tapes Division’s core industrial adhesives product line and provide access to the fast-growing polyurethane-based structural adhesives and sealants market segment.
Frequently Asked Questions (FAQ):
What is the current competitive landscape in the polyurethane sealants market in terms of new applications, production, and sales?
The market has various large, medium, and small-scale players operating globally. Many players are constantly innovating and developing new products and expanding to developing countries where the demand is constantly growing; thereby boosting sales.
Which all countries are considered in the report?
The US, China, Japan, India, Germany, the UK, and France are major countries considered in the report.
What is the total CAGR expected to be recorded for the polyurethane sealants market during 2022-2027?
The CAGR is expected to record 4.1% in terms of value from 2022-2027.
Which region is expected to hold the highest market share?
Asia Pacific region is expected to hold the largest share for 2022. The growth was supported by construction and automotive sector.
Which are the major companies in the polyurethane sealants market? What are their major strategies to strengthen their market presence?
3M (US), Arkema N.V. (Bostik) (Netherlands), Sika AG (Switzerland), H.B Fuller (US), Henkel AG & Co.KGaA (Germany), BASF SE (US) are some of the key players in polyurethane sealants. The companies' key strategies to strengthen their polyurethane sealants market presence were contracts and product launches. .
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The study involved four major activities in estimating the current size of the polyurethane sealants market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering polyurethane sealants information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the polyurethane sealants market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the polyurethane sealants market scenario through secondary research. Several primary interviews were conducted with market experts from both, the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interview. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, product development/innovation teams, and related key executives from polyurethane sealants vendors; raw material suppliers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to type, end use industry, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, and installation teams of the customer/end users who are using polyurethane sealants were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of polyurethane sealants and future outlook of their business which will affect the overall market.
The breakup of Primary Research:
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CoMPANY NAME |
DESIGNATION |
3M |
Director |
Arkema N.V. (Bostik) |
Project Manager |
H.B. Fuller |
Individual Industry Expert |
Henkel AG & Co.KGaA |
Director |
Market Size Estimation
The research methodology used to estimate the size of the polyurethane sealants market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in the building and construction, automotive, general industrial, marine and others at a regional level. Such procurements provide information on the demand aspects of polyurethane sealants.
Global Polyurethane Sealants Market Size: Bottom Up Approach
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Global Polyurethane Sealants Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into segments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Polyurethane sealants are organic compounds formed by the reaction of glycol with isocyanate and are used for sealing and waterproofing decks, wood flooring, and trims. These sealants have high moisture- and corrosion-resistance characteristics. Polyurethanes are high-performance sealants noted for their elasticity and excellent abrasion resistance. These sealants are composed of polyurethane polymer, pigments, fillers, and additives. They are used for filling and sealing joints in buildings and structures. They are highly elastic & resilient, weather durable, non-sagging, and watertight, with excellent adhesion to most building & construction materials.
Key Stakeholders
- End User
- Raw Material Suppliers
- Senior Management
- Procurement Department
Report Objectives
- To define, describe, segment, and forecast the size of the polyurethane sealants market based on type, end use industry, and region.
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, South America, Middle East & Africa, along with major countries in each region
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the polyurethane sealants market
- To analyze technological advancements and product launches in the market
- To strategically analyze micromarkets, with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the polyurethane sealants market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Polyurethane Sealants Market
Growth opportunities and latent adjacency in Polyurethane Sealants Market