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

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

The Japan Sealants Market is projected to register a CAGR of 5.40%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In Japan, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, insulation, curtain wall, glazing, façade, and others.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry is expected to witness the fastest growth in the market owing to the rapid expansion of general aviation for the domestic market.
• 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 - Silicone : Due to sheer strength and high impact resistance abilities, silicone sealants are mostly used in construction applications, thus, expected to be the fastest-growing resin in the market.

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

• The construction industry holds the major share in the Japanese sealants market, 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 Japanese construction sector achieved about 5.3% of the nation’s GDP in 2019 and is likely to register considerable growth in the upcoming years. The Japanese government focuses on the quality of buildings and promotes sustainable development, which will likely proliferate sealants demand over the forecast period.
• A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables. The Japanese electronics market registered nearly 6% of revenue share in 2021 and is likely to have promising growth in the upcoming years owing to the rapid adoption of consumer electronics among the high and middle-income groups. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, Japan has well-established facilities to produce locomotive engines around the world will drive the demand for required sealants by 2028.
• Sealants are used in diverse applications in the automotive industry, mostly used for engines and car gaskets, and exhibit extensive bonding to various substrates. Japan has been marked as one of the leading producers in the automotive industry over the years due to extensive production facilities and the strong presence of major carmakers, which is likely to create demand for sealants in the coming years.

Competitive Landscape

The Japan Sealants Market is fragmented, with the top five companies occupying 30.51%. The major players in this market are 3M, Shin-Etsu Chemical Co., Ltd., Sika AG, THE YOKOHAMA RUBBER CO., LTD. and ThreeBond Holdings Co., Ltd. (sorted alphabetically).

Additional Benefits:

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

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