Construction Sealants Market Future Challenges and Industry Growth Outlook 2024
Date: 2019-05-16   Author: Rahul Varpe  Category: #news

Construction Sealants Market Future Challenges and Industry Growth Outlook 2024

Global Market Insights presents an extensive report on Construction Sealants Market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.

The overall consumption of sealants in the construction sector is claimed to be inextricably related to global GDP growth. Regardless of whether the nation is emerging or developed, it is no novelty that the construction industry plays an instrumental role in global economic output. Statistics depict- global construction sector represented almost 13% of the overall GDP in the year 2013, and is forecast to account for almost 15% by 2020. 

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Considering the preferential position that sealants have managed to procure in modern construction activities, it is needless to mention that construction sealants market dynamics would also be perpetually influenced by the GDP growth. On a generic note, sealants are basically substances that are used to prevent any kind of fluid leakage through joints or openings in materials. However, in case of building construction, it is synonymous to caulking, as these materials serves plethora of other purposes as well such as blocking sound, dust, most importantly ensure efficient heat transmission. 

Construction Sealants Market has arguably received much of an attention lately than ever in the past few years. Shifting trend toward smart energy saving construction, increasing volume of high rise projects, and governmental implementation of stringent regulations with regards to solvent emissions are some of the major determinants driving the commercialization matrix of construction sealants industry. As claimed by Global Market Insights, Inc. the overall business space which was pegged at USD 4.5 billion in 2016, in all plausibility, would surpass a valuation of USD 6.5 billion by 2024.

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Other than China, India has also proved to be a remunerative avenue for APAC construction sealants market, with a projected y-o-y growth of 6% over 2017-2024. Numerous long term and short term constructional projects both in public as well as private sectors are presently operational in the country. In this regard, it is imperative to mention, as it is observed lately, that the regional construction sealants industry giants have been bending over backwards to establish strategic collaborations, in a bid exploit maximum application opportunity of this marketplace. 

Say for instance, Pidilite Industries Ltd, one of the most acclaimed Indian sealants maker has recently received board’s approval for acquiring 70% stake in equity shares of CIPY Polyurethanes Pvt. Ltd. Reportedly, through this all-cash deal of ? 96.40 crores , Pidilite is planning to expand its portfolio in construction sealants market from flooring applications.

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All in all, driven by the growing investment in smart construction project along with a strong positive outlook toward the development of environmentally viable sealants by using soy from renewable resource technology, construction sealants industry is forecast to gain a renewed dynamism with regards to manufacturing processes, product differentiation, and business model in the ensuing years.


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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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