The global construction sealants market is projected to grow from USD 4.7 billion in 2023 and is projected to reach USD 5.7 billion by 2028, at a CAGR of 3.6%, between 2023 and 2028 period. The increasing demand from commercial offices and residential housing, along with rising infrastructure output from key sub-sectors, such as rail, roads, energy, and water and sewerage, is driving the market for construction sealants.
The key players following the strategies between 2018 and 2023 are 3M (US), Arkema (France), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and H.B. Fuller (US). The companies are majorly following acquisition as the strategy to grow and expand the market.
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3M Company, also known as Minnesota Mining and Manufacturing Company, is a multinational conglomerate corporation based in the United States. Founded in 1902, 3M is headquartered in St. Paul, Minnesota. The company operates in various sectors, including industrial, healthcare, consumer goods, and safety and graphics. 3M is well-known for its innovation and diverse range of products. The company's success lies in its ability to develop and manufacture a wide array of products across multiple industries. 3M's core strength is in research and development, with a focus on applying science and technology to create practical solutions for customers. It operates with production sites in 70 countries worldwide and offers products and solutions to customers in approximately 200 countries in the Americas, Asia Pacific, Europe, and the Middle East & Africa.
Arkema is a global player in the specialty chemicals and advanced materials market. The company is among the top four adhesives & sealants producers in the world. It operates through four business segments, namely, adhesive solutions, advanced materials, intermediates, and coating solutions. Arkema has 148 production sites across 55 countries. The company operates in Europe, North America, Asia Pacific, South America, Africa, and the Middle Eastern regions. In February 2015, Arkema bought oil major TOTAL's adhesives business, Bostik, for USD 2.24 billion. With this acquisition, the group reached a new milestone in becoming a world leader in specialty chemicals and advanced materials. Bostik’s growth prospects, along with the synergy between the two groups, will sustain the success of this high-value-creating acquisition.
Construction Sealants Market by Resin Type (Silicone, Polyurethane, Polysulfide), Application (Glazing, Flooring & Joining, Sanitary & Kitchen), End-use Industry (Residential, Commercial, Industrial, Infrastructural), and Region - Global Forecast to 2028
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