The polyurethane sealants market is projected to reach USD 3.15 billion by 2022, at a CAGR of 5.4% from 2017 to 2022. Asia-Pacific is the leading market for polyurethane sealants, in terms of value. Countries in this region, including India, Vietnam, Indonesia, China, Malaysia, and Thailand are witnessing an increase in the use of polyurethane sealants in end-use industries, such as building & construction, automotive, general industrial, and marine, among others.
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Asia-Pacific is expected to be the fastest-growing market for polyurethane sealants, owing to rapidly growing economies, such as India and China, in the region. Economic growth of these countries have consequently led to an increase in use of polyurethane sealants in end-use industries. For instance, high investments are being made in building & construction, and automotive sectors in the region. Various companies in the market are shifting their production base to Asia-Pacific, owing to the low cost of production and ease of serving emerging local markets. The region accounts for over half of the world’s population, making it an important region for global trade and commerce. Rapid developments in the polyurethane sealants technology in countries, such as, China, India, Vietnam, Indonesia, Thailand, and Malaysia, is expected to fuel the growth of the Asia-Pacific polyurethane sealants market.
China is estimated to lead the Asia-Pacific polyurethane sealants market, due to high population and growing economy of the country. The India polyurethane sealants market is projected to grow at the highest rate during the forecast period.
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Based on type, the one-component polyurethane sealants segment is expected to grow at the highest rate during the forecast period. The growth of the segment is driven by the increasing demand for one-component polyurethane sealants from the building & construction and automotive industry and rise in their application. One-component sealants consist of a prepolymer that is made by reacting a polyol with an excess of diisocyanate. On application, the isocyanate groups react with moisture from air to yield cured polyureas. One-component sealants are primarily used for sealing roofs, electrical cable, and in plumbing.
Based on end-use industry, the automotive segment of the polyurethane sealants market is projected to grow at the highest rate during the forecast period. The growing automotive industry is a key driver for the polyurethane sealants market. Polyurethane sealants find numerous uses in automobile, such as front glass windshield, side glass, and car body. They are used in places requiring moderate adhesion but high elongation.
