Elastomeric Sealants Market — Overview
Elastomeric Sealants find usage in some of the end-use industries such as automotive, woodworking, building construction, electronics, marine, aerospace defense, and others. The Elastomeric Sealants Market is expected to witness significant growth on account of their superior durability along with excellent usage in numerous end-use industries specifically in building construction, woodworking, electronics, automotive, and others.
Among the end-use industries, building construction holds for the largest market share in 2016 and is estimated to retain their dominance on account of increasing construction activities in developing countries. The factors attributed to the Elastomeric Sealants Market growth are a continuous expansion of the automotive industry in developing countries, increasing expenditure on defense budgets, and continuous growth of the aerospace defense industry. Furthermore, growing per capita disposable income coupled with rising spending on the personal vehicle has propelled the demand for Elastomeric Sealants over the assessment period.
Geographically, Asia Pacific is predicted to hold the largest Elastomeric Sealants Market share in 2016 which is followed by North America and further trailed by Europe. In North America, the Elastomeric Sealants Market is predicted to exhibit moderate growth over the forecast period owing to increasing awareness regarding the benefits associated with product along with increased consumption in end-use industries such as aerospace defense in this region. Asia Pacific is expected to witness substantial growth over the forecast period in the Elastomeric Sealants Market on account of the growing application of Elastomeric Sealants in various end-use industries. In Asia Pacific, the demand for Elastomeric Sealants is predicted to enhance in numerous countries such as Indonesia, the Philippines, Taiwan, India, Japan, South Korea, and China due to increasing population coupled with the shifting of manufacturing units for most of the key operating players in this region. In Europe, Elastomeric SealantsMarket is estimated to register moderate growth on account of shifting consumer preference towards Elastomeric Sealants combined with high adoption rate in woodworking, construction, and electronics specifically in Belgium, Germany, Poland, UK, France, Italy, Spain, and Russia.
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Industry/ Innovation/ Related News:
August 2016- BASF SE launched new sealant products named as MasterSeal® CR 435 and MasterSeal® NP 430 which comprises of waterproofing products, deck membranes, and sealants. This product launch helped company to strengthen their position among the sealant manufacturers.
Competitive Landscape:
The Elastomeric Sealants Report has analyzed the degree of competition among the major producers in Elastomeric Sealants Market as well as sector growth and market scenario. The Global Elastomeric Sealants Market includes extensive range of suppliers operating in the market involves medium-level and large-scale suppliers. Some of the major players of Elastomeric Sealants which have a strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate-level and high-level suppliers belong to this province specifically from Japan, Australia, China, India, South Korea, the Philippines, Malaysia, Taiwan, and Thailand. Furthermore, the major suppliers of elastomeric sealants are observed to follow various strategic plans to improve their product portfolios such as distribution agreements, joint ventures, mergers, product launches, strategic acquisitions, and exclusive agreements.
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