The glass sealant market is expected to witness a CAGR of 6.5% to reach $2.6 billion by 2023
Bangalore, India, June 13, 2018 (Newswire.com) - With its recently published study “Glass Sealants Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023”, Infoholic Research forecasts that the global market for glass sealants will continue to expand. The growing disposable income among developing countries and the increasing penetration of glass sealants in various application sectors are the key factors driving the market growth. Further, the growing acceptance among consumers is due to factors and features such as better performance, flexibility, improved aesthetics, durability, longevity, UV and weather resistance, load-bearing capacity, thermal stress, and low shrinkage. This pattern is expected to continue during the forecast period to increase the glass sealants market revenue to $2.6 billion by 2023, growing at a CAGR of 6.5%.
Advancements in technology, the glass sealant’s ability to offer excellent resistance towards temperatures and climatic ageing, and its property of strong adhesion on glass movement have added to the market growth. The high manufacturing base in developed & developing countries along with the overall booming construction sector has further contributed to the market demand. Premium prices tends to restrict the growth of the glass sealants market in lower per capita income countries; yet it is expected to witness a high growth rate during the forecast period in developing & underdeveloped countries.
Glass sealants have come a long way from being considered a premium product to becoming an essential feature in several industries becoming part of regulatory compliance in some geographies. Environmental advantages along with the increasing affordability will give an impetus to the market. It was earlier dominated by the developed countries, but now finding a strong foothold in developing countries, such as China, wherein the domestic market is quite robust and offers high potential. The market is still in the nascent stage and is expected to witness rapid growth in the next 5-6 years,"
Khushboo Pandey, Research Analyst, Infoholic Research
The commercial construction sector is one of the major contributors to the glass sealants market. The high growth in economies and increasing per capita income among consumers in developing countries has increased the demand for commercial construction. This trend is expected to continue with the commercial as well as non-commercial construction sectors leading the market forward during the forecast period. By types, silicone-based glass sealants are dominating the market. Silicone-based glass sealants have significant demand in the overall construction industry due to its better adhesion to various surfaces and superior performance in a wide range of temperatures. The use of silicone-based glass sealants in bathrooms is pushing the demand for the overall glass sealants market. However, fluctuations in raw material price have restricted the usage of glass sealants.
“Glass sealants have come a long way from being considered a premium product to becoming an essential feature in several industries. It has become a critical addition to regulatory compliance in some geography. Environmental advantages along with the increasing affordability will give an impetus to the market. The market that was earlier dominated only by the developed countries is now finding a strong foothold in developing countries, such as China, wherein the domestic market is quite robust and offers high potential for growth. The market is still in the nascent stage and is expected to witness rapid growth in the next 5–6 years,” points out Khushboo Pandey, Research Analyst, Infoholic Research.
The key insights of the report are as follows:
- The global glass sealants market has been analyzed based on material types:
- The study constitutes a classification based on end-user areas:
- Commercial Construction
- Non-Commercial Construction
- The study covers the below-mentioned geographies:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche markets in ICT, Chemicals & Materials and Healthcare domain. Founded in 2014, we are headquartered in Bangalore, India with an office in the US and consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
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Source: Infoholic Research LLP