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

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

The Italy Sealants Market is projected to register a CAGR of 6.29%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In the Italian sealants market, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, heat insulation, glazing, and façade.
• Fastest-growing Segment by End User Industry - Building and Construction : Building and construction is expected to be the fastest-growing end-user industry segment of the market owing to the increasing demand for luxurious homes in residential complexes.
• Largest Segment by Resin - Silicone : Silicone sealants hold the largest market share owing to their wide-ranging applications in the building and construction and automotive industries, specifically for exterior applications.
• Fastest-growing Segment by Resin - Silicone : Due to its excellent tear and abrasion resistance and wide usage in building and construction and automotive end-user industries, silicone sealant is projected to be the fastest-growing resin segment.

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

• The Italian sealants market is majorly driven by the construction industry, followed by the other end-user industries segment due to the diverse applications of sealants in building and construction activities, such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. The Italian construction industry accounted for nearly 8% of the country's GDP. In 2018, Italy registered more than 490,000 companies in construction and related works. Due to the adverse impacts of the COVID-19 pandemic, the Italian construction industry's growth declined by 10.1% in 2020.
• A variety of sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting applications. The Italian electronics market registered significant growth mostly due to the high demand for large household appliances, consumer electronics, and telephony. This is expected to foster the demand for sealants from the other end-user industries segment. A range of applications of sealants in the locomotive and DIY industries is expected to boost the demand for sealants by 2028.
• Sealants have diverse applications in the healthcare industry, and Italy has achieved significant development in the manufacturing of medical equipment over the decades. Sealants are used for healthcare applications such as assembling and sealing medical device parts. The country counted nearly 4,323 companies in the medical device and technology market. The Italian government also announced plans to invest EUR 1.18 billion to upgrade 3,133 devices at the end of 2024. Thus, such a trend is expected to augment the demand for medical-grade sealants over the coming years.

Competitive Landscape

The Italy Sealants Market is fairly consolidated, with the top five companies occupying 75.65%. The major players in this market are 3M, Henkel AG & Co. KGaA, MAPEI S.p.A., Sika AG and Soudal Holding N.V. (sorted alphabetically).

Additional Benefits:

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

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