Australia Sealants Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Australia Sealants Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Australia Sealants Market is projected to register a CAGR of 6.44%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In Australia, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, heal sealing, curtain wall, glazing, façade, and others.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace segment is likely to witness the fastest growth owing to the increasing demand for civil and general aircraft in the country.
• Largest Segment by Resin - Silicone : Silicone sealants have the largest share owing to their wide applications in building construction and automotive industries, specifically for interior and exterior applications.
• Fastest-growing Segment by Resin - Polyurethane : Due to its excellent tear and abrasion resistance and wide usage in building and construction and automotive end-user, polyurethane resin is expected to witness the fastest growth.

Key Market TrendsBuilding and Construction is the largest segment by End User Industry.

• The Australian sealants market is dominated by the construction industry, followed by other end-user industries due to diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction industry generates about 9% of the country’s GDP. Currently, the Australian government is focusing on promoting energy-efficient building construction, thus, proliferating the sealants demand across the country.
• Other end-user industries comprise electronics and electrical components, locomotive and marine, and DIY, in which the electronics industry holds the major share due to the diverse applications in the electronics and electrical equipment manufacturing industry for potting and protecting materials. They are used for sealing sensors, cables, etc. Moreover, the rapid growth of e-commerce activities, along with the strong market positioning of the consumer electronics segment, would like to propel the industry size of the Australian sealants market.
• The healthcare industry mostly uses sealants for assembling and sealing medical device parts. Medical-grade sealants have unique applicability to bind with various substrates such as glass, metal, plastic, and painted surfaces. Australia has more than 500 medical device manufacturers, and the country is a major supplier of medical devices to the leading economies in the world, including the United States, Germany, and China. It is expected to register significant growth in medical device manufacturing due to unprecedented demand from the domestic market in the coming years. This, in terms, will boost the sealants demand in the country.

Competitive Landscape

The Australia Sealants Market is moderately consolidated, with the top five companies occupying 57.72%. The major players in this market are 3M, Arkema Group, DuluxGroup Ltd., Henkel AG & Co. KGaA and Sika AG (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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