ACRYLIC SEALANTS MARKET ANALYSIS
Acrylic Sealants Market - Size, Share, Trends, and Forecast 2019 - 2027
The global acrylic sealants market size is likely to witness potential gains in the near future, and grow at a CAGR of 6.3% over the forecast period (2019 - 2027).
Market Overview
Acrylic sealant is a water-based, synthetic ingredient made from acrylic resins for general purposes such as filling cracks, jointing, caulking, and other applications in building construction. Easy applicability, and compatibility with most building raw materials such as brick, concrete, stone (natural or artificial), wood, granite, metal, glass, and tiles or sanitary ware. Acrylic sealants are highly flexible, crack resistant, provide a smooth finish, have low odour, non-toxic, good adhesives for all kinds of substrates, and are resistant to moisture, UV rays, and extreme weather.
Market Dynamics
Acrylic sealants are in high demand in the construction sector owing to their versatility and ability to protect various substrates from dust, dirt, or insects from getting through gaps. Its most advantageous quality is that it is quick to dry and can be painted over within an hour of its application, which makes it ideal for internal as well as external use. Acrylic sealants are expected to witness an increasing demand in the global market owing to increasing number of players and technological advancements in end use industries such as construction, automotive, and packaging. Moreover, key players in some of the regions are investing in product innovations and research and development activities to strengthen their position in the market. Favourable physical properties such as tensile lap shear strength, and good peel are major factors driving demand for acrylic sealants across the globe. Furthermore, application in end use industries such as consumer goods, automotive, and construction due to adhesion on a variety of layers such as aluminum and steel are expected to propel growth of the global acrylic sealants market over the forecast period.
However, demand for acrylic sealants may be overshadowed by other rapidly growing segments such as silicone sealants which have a longer lifespan and are more flexible than acrylic sealants. Furthermore, a silicone sealants weatherproofing and water-resistant properties are comparatively more effective than acrylic sealants. Moreover, acrylic sealants may not be ideal for applications where high movement accommodation is required. Also, application on bituminous or oily substrates is not advisable, in addition to any material that can leak solvents, plasticisers, or oils. These factors are expected to restrain growth of the global acrylic sealants market.
Market Outlook
Asia Pacific is expected to emerge as the fastest growing market for acrylic sealants as a result of rapid industrialization and technological advancements in emerging economies such as India and China. Additionally, expanding end use industries such as construction and transport in these countries is expected to account for a major market share over the next few years. Increasing awareness of environmental hazards posed by synthetic adhesives and sealants has led manufacturers in regions such as North America and Europe to invest in ecofriendly alternatives, which is driving demand for acrylic sealants in the regions. The construction sector in countries such as Brazil is picking up pace which, in turn, is facilitating demand for building raw materials in Latin America. Moreover, increasing focus on developing bio-based alternative products by manufacturers across the globe is projected to favour the market growth significantly.
Key Players
Major companies involved in the global acrylic sealants market are The Dow Chemical Company, BASF, RPM International, Inc., 3M, E. I. du Pont de Nemours and Company, Henkel AG & Co. KGaA, and H.B Fuller Company among others.
Key Developments
Various key players in the market are focused on developing organic and inorganic growth strategies such as mergers and acquisition and new product launch in order to enhance their global presence.
· For instance, in October 2019, Momentive Performance Materials Inc., one of the leading player in advanced materials and silicones, launched GE-branded siliconized acrylic latex caulks and sealants line which includes nine products that offers protection to paint projects in different colors and sizes.
· In March 2017, Selena Group, distributor and producer of construction chemicals acquired 64% stake in Uniflex S.p.A., an Italian company specializing in the production of acrylic sealants. Through this acquisition, Selena group strengthen its foothold in Western Europe.
· In August 2015, an epoxy sealing brand from Pidilite Industries, M-seal launched M-seal Gap Fill White Acrylic Sealant, for filling indoor cracks. It is formulated with single component water based resin solution, ready-to-use solution. Also, it can be easily removed when required.
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