Infrastructural development has transformed the face of the construction industry. Changing consumer needs and lifestyle compelled manufacturers to develop new types of products as well as materials to fulfill their requirements. In the construction industry sealants are primarily used for blocking sound, dust, and heat transmission. By analyzing the global market scenario QYR Consulting has introduced a new research report titled, “Global — Latex Sealant Market Report, History and Forecast 2014-2025,” for the forecast period of 2019-2025. According to the report, the global Latex Sealant market is expected to touch the value of US$ 710 Mn by 2025 end, which was around US$ 513 Mn in the year 2018. The market is prognosticated to register a moderate CAGR of 4.7% during the predicted period.
Acrylic latex sealant to emerge as a popular segment in the global Latex Sealant market
The global latex sealant market is segmented into by product and by application. By application the market is segmented into family house, commercial building, and Others. Latex Sealants have a number of interior, exterior, and architectural family house applications.
By product, the market is segmented into EVA latex sealant, acrylic latex sealant, and Others. As far as products are concerned acrylic latex sealant segment is predicted to show impressive growth during the forecast period. Physical characteristics of acrylic latex sealant like good peal, tensile lap shear strengths and impact are helping to increase the overall growth of the global Latex Sealant market. Acrylic Latex Sealants are projected to gain high demand from consumer, construction, and automotive industries because of strong adhesion properties.
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Growing industrialization in Asia Pacific to propel the demand for Latex Sealant
Asia Pacific is foreseen to record remarkable growth in the global Latex Sealant market. Growing industrialization, expansion of the manufacturing sector, and solid GDP growth of developing economies are helping Asia Pacific to penetrate the global Latex Sealant market. Moreover, the government is also supporting to boost the construction industry, which is, in turn, is foretold to increase the demand for Latex Sealant. Apart from Asia Pacific, North America is to observe a heavy demand for Latex Sealant due to the presence of end-use industries and increasing construction spending in the United States.
Some of the prominent players functioning in the global Latex Sealant market are Henkel, DowDuPont, Premier, Bostik, 3M, H.B. Fuller, ITW, PPG, Sika, and RPM INTERNATIONAL INC.
Wide industrial applications of Latex Sealant to support the global Latex Sealant market growth.
Sealant is a type of mechanical seal and a substance used to block the passage of fluids through surface or joints. Latex sealants are less expensive than other types of sealants therefore widely used in the construction industry. A number of industrial applications of sealants is driving the demand for the global Latex Sealant in the worldwide market. Apart from this, the growing demand for agricultural and mining equipment is forecasted to bode well for the global Latex Sealant market.
Latex Sealants are a low volatile organic compound used to maintain color stability as well as to reduce sound transmission in partition system, which is foreshown to increase the market growth in the years to come. Latex sealant is the key element used in the fire stopping systems, therefore it is anticipated to surge the demand for Latex Sealant across the globe.
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