The Construction Sealants Market is projected to reach USD 9.92 billion by 2022, at a CAGR of 5.6% from 2017 to 2022. Asia-Pacific is the leading market for construction sealants, in terms of value. Countries in this region, including India, Indonesia, China, Malaysia, and Thailand are witnessing an increase in the use of construction sealants.
Asia-Pacific is expected to be the fastest-growing market for construction sealants, owing to rapidly growing economies such as India and China in the region. Economic growth of these countries has consequently led to an increase in the use of construction sealants. For instance, high investments are being made in the building & construction industry in the region.
Various companies in the market are shifting their production base to Asia-Pacific, owing to the low cost of production and ease of serving emerging local markets. The region accounts for over half of the world’s population, making it an important region for global trade and commerce. Rapid developments in the construction sealants technology in countries such as China, India, Indonesia, Thailand, and Malaysia is expected to fuel the growth of the Asia-Pacific construction sealants market.
Download PDF Brochure https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=104100934
China is estimated to lead the Asia-Pacific construction sealants market due to high population and growing economy of the country. The India construction sealants market is projected to grow at the highest rate during the forecast period.
Based on resin type, the silicone segment is expected to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the increasing use of silicone sealants in expansion joints for joining dissimilar materials, which provide weather protection to high-rise buildings and flexibility for airport runways and highways, as these sealants remain pliable and do not track in warm weather or become brittle and crack in cold weather.
Based on application, the glazing segment is projected to grow at the highest rate during the forecast period. Asia-Pacific, South America, and the Middle East & Africa are the fastest-growing construction sealants markets in the glazing application due to ongoing investments in infrastructural development, increasing urbanization, and rising standards of living in emerging countries such as India, China, Vietnam, Bangladesh, Indonesia, Iran, and Brazil. The construction sealants market in the glazing application in Asia-Pacific is mainly driven by the growing housing sector, ongoing urbanization, rising income levels, and favorable government policies.
Know More At
https://www.marketsandmarkets.com/Market-Reports/construction-sealants-market-104100934.html
