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

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

The China Sealants Market is projected to register a CAGR of 7.04%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In China, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, insulation, curtain wall, glazing, and others.
• Fastest-growing Segment by End User Industry - Automotive : The automotive industry is the fastest-growing end-user segment in the market, owing to the rising demand for lightweight and high-impact resistance components to substitute traditional metal joints and fasteners.
• Largest Segment by Resin - Silicone : Silicone sealant is the major resin-based sealant owing to its largest application share in the building and construction industry for both 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 sealant is likely to witness the fastest growth.

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

• The China sealants market is majorly driven by the construction industry, followed by other end-user industries due to diverse applications of sealants in building and construction activities, such as waterproofing, cracks-sealing, and joint-sealing. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction sector achieved a GDP of 6.9% in 2020 despite supply chain disruption and production suspension due to COVID-19 impacts.
• A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. The Chinese electronics market registered a market share of 41% globally in 2020 and is likely to have sustainable growth in the upcoming years due to the extensive presence of the manufacturing ecosystem with a huge labor force. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, China has a massive production capacity for locomotive and marine industries in the world, boosting the demand for required sealants.
• Sealants have diverse applications in the healthcare and automotive industries. Sealants are used in healthcare applications such as assembling and sealing medical device parts. The automotive industry exhibits significant applicability of sealants to various substrates, mostly used for engines and car gaskets. China registered promising growth in these sectors, specifically in automotive, in recent times and is likely to continue in the upcoming years, which will augment the demand for sealants by 2028.

Competitive Landscape

The China Sealants Market is fragmented, with the top five companies occupying 24.82%. The major players in this market are 3M, Chengdu Guibao Science and Technology Co., Ltd., Guangzhou Baiyun Chemical Industry Co.,ltd., Guangzhou Jointas Chemical Co.,Ltd. and Sika AG (sorted alphabetically).

Additional Benefits:

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

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.