The global caulk market is expected to display higher growth rate over the upcoming years. Rapid surge in the market is credited to the rising demand from building & construction industry and several industrial applications. Additionally, soaring demand for durable adhesive & sealants is expected to drive the growth of the market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of caulk market.
In addition, rising number of repair activities involving fenestration and roofing, transportation, and DIY applications is anticipated to foster the growth of caulk market over the coming years. However, rising environmental concerns such as regarding excessive emission of volatile organic compounds (VOCs) is expected to restrain market development to a certain extent. Moreover, rise in number of stringent laws and regulations associated with the use of caulk products is limiting market growth, particularly among developed economies across the globe.
Yet, development of eco-friendly products coupled with increasing approval rate is estimated to amplify market demand for caulk product in the upcoming years. Several manufacturers are developing water-based caulk products to pursue certification under the U.S. Green Building Council’s LEED program. These factors are expected to expand market reach for caulk industry in the near future. Growing demand for latex caulk is attributed to its unique properties and ease of use. Latex caulk is used on porous as well as nonporous exteriors. Removal of latex caulk require only soap and water.
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The caulk market is broadly categorized into seven major segments based on the product type such as siliconized acrylic, silicone polymer, butyl rubber, caulking chord, elastomeric sealant, adhesive caulk, and polyurethane. Siliconized acrylic segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of siliconized acrylic segment is attributed to the increasing product penetration and cost-effectiveness.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the caulk market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising construction activities, boom in housing sector, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the caulk market are The 3M Company, Bostik, Inc., E. I. du Pont de Nemours and Company, Franklin International, Inc., H.B. Fuller Company, Sherwin-Williams Company, Henkel AG & Company, KGaA, Dap Co., Red Devil, Inc., Sashco, Inc., General Electric Co., White Lightning Co., Gardner Coating, Inc., Liquidnails, Inc.
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