North America Sealants Market

North America Sealants Market Analysis

The North America Sealants Market is expected to register a CAGR of greater than 6% during the forecast period.

• The expanding building and construction industry will likely drive the market significantly in the coming years.
• However, the strict regulations on the usage of VOC-free content are expected to hinder the market's growth.
• Increasing awareness of renewable and eco-friendly products is expected to act as an opportunity.

North America Sealants Market Trends

Increasing Demand from the Building and Construction Sector

• Sealants have been extensively used in the building and construction industry owing to their characteristics and physical properties.
• Sealants can stop liquids and other substances from passing through material surfaces, joints, or openings in construction. They can act as a fire-stopping component and block airflow, sound, dust, insects, and others.
• They are used in the residential, commercial, and infrastructure segments, including various on-site and off-site applications such as sub-flooring, finish flooring, wall roofing, structural glazing, panels such as composite bonding (FRP panels), drywall lamination, repair of large cracks insulated glass, doors and windows, HVAC, and prefabricated housing.
• The United States holds a major share of the construction industry in North America. According to the US Census Bureau, the annual value for new construction put in place in the United States accounted for USD 1,626.4 billion in 2021, compared to USD 1,499.6 billion in 2020.
• There are several construction projects going on in the region, which are likely to increase the consumption of sealants in the construction sector.
• For instance, in United States, the Metropolitan Park campus in the country plans to house 2.1 million square feet of office space for Amazon in two 22-story LEED-certified buildings with a budget of nearly USD 2.5 billion.

The United States to Dominate the Market

• The United States is the largest market for sealants market in North America. The end-user industries, such as construction, automotive, healthcare, etc., are expected to drive growth in the market over the forecast period.
• The United States is the largest country for construction activities in the North American region. The country had a GDP of USD 25,350 per capita, with an expected growth rate of 3.7% Y-o-Y in 2022.
• The factors affecting the US construction industry are new investments, residential & non-residential constructions, government policies, and others.
• Additionally, with growing concerns after the pandemic to overcome the deficiencies of the healthcare system, the US government's policies have been drawn toward making the healthcare system more efficient compared to pre-pandemic times.
• The medical technology market is expected to record a 5.67% CAGR in the forecast period and result in a demand for sealants required for the healthcare end-user industry in the period.

North America Sealants Industry Overview

The North American sealants market is fragmented. The major companies include 3M, RPM International, Sika AG, HB Fuller Company, and Henkel AG & Co. KGaA, among others (in no particular order).

North America Sealants Market Leaders

North America Sealants Market News

• In July 2021, RPM International Inc. procured a 178,000-square-foot chemical manufacturing facility in Texas to act as a manufacturing campus owned and operated by RPM's Tremco Construction Products Group to meet customer demand and strengthen its supply chain.
• In January 2022, H.B. Fuller Company introduced a new range of Gorilla professional-grade adhesives and sealants for MRO industrial applications.