Overview and Scope
The waterproof adhesives and sealants are strong chemicals that can withstand inclement weather, dampness, or sunlight. The waterproof adhesives and sealants are used to avoid water leaks and associated damage and are also extensively utilized in interiors at floor joints, bathtubs, sinks, and showers. Waterproof adhesives and sealants help construction materials function better and last longer.
Sizing and Forecast
The waterproof adhesives and sealants market size has grown strongly in recent years. It will grow from $24.96 billion in 2023 to $27 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to impact of weather conditions, healthcare sector utilization, sustainability trends, electronics and electrical applications, automotive industry adoption..
The waterproof adhesives and sealants market size is expected to see strong growth in the next few years. It will grow to $36.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to customization and versatility demand, climate change impact, advancements in nanotechnology, preference for high-performance materials, consumer goods applications.. Major trends in the forecast period include sustainable products, innovative solutions, technological advancements, strategic collaborations.
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Segmentation & Regional Insights
The waterproof adhesives and sealants market covered in this report is segmented –
1) By Type: Adhesives, Sealants
2) By Chemistry: Silicones, Polyurethanes, Acrylics, Epoxy, Polysulfide, Other Chemistries
3) By End-Use Industry: Building and Construction, Transportation, Electrical and Electronics, Other End-Use Industries
Asia-Pacific was the largest region in the waterproof adhesives and sealants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waterproof adhesives and sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expanding building and construction industry is expected to propel the growth of the waterproof adhesives and sealants market going forward. Building and construction industry involves manufacturing and trading buildings, maintaining infrastructures, repairing and renovating buildings and infrastructure, and others. Waterproof adhesives and sealants provide several applications in the building and construction industry, such as preventing fluids and other liquid substances from passing through surfaces and mechanical joints, waterproofing building and construction materials, and other applications. For instance, according to Rethinking The Future, an India-based platform for architecture & design, by 2024, the Canadian construction industry will grow at an 8.5% compound annual growth rate (CAGR). This will increase the value of Canada’s construction industry to $354.9 billion (USD). Furthermore, in 2022, according to the U.S. Construction Cost Trends report, there is a rise in residential construction, which will continue to drive up demand for materials and labour, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic’s onset. Therefore, the expanding building and construction industry is driving the growth of the waterproof adhesives and sealants market.
Key Industry Players
Major companies operating in the waterproof adhesives and sealants market report are 3M Company, Henkel AG & Co. KGaA, Avery Dennison Corporation, H.B. Fuller Company, Dow Corning Corporation, Huntsman Corporation, Bostik Inc., Sika AG, Mapei SpA, ExxonMobil Corporation, Eastman Chemical Company, Baxter International Inc., Arkema SA, RPM International Inc., Pidilite Industries Limited, Franklin International In., ITW Performance Polymers, Permabond LLC, Dymax Corporation, Master Bond Inc., LORD Corporation, Hexion Inc., Ashland Global Holdings Inc., Royal Adhesives & Sealants LLC, Chemence Inc., Hernon Manufacturing Inc., Parson Adhesives Inc., DAP Products Inc., Red Devil Inc., Gorilla Glue Inc.
The waterproof adhesives and sealants market report table of contents includes:
1. Executive Summary
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