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

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

The Malaysia Sealants Market is projected to register a CAGR of 5.75%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In Malaysia, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, weatherproofing, curtain wall, glazing, and façade.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry is expected to be the fastest-growing end-user industry segment in the market owing to the rapid expansion of general aviation in the domestic market.
• Largest Segment by Resin - Silicone : Silicone sealant is the largest resin-based sealant segment owing to its largest application share in the building and construction industry for both interior and exterior applications.
• Fastest-growing Segment by Resin - Polyurethane : Owing to their wide applications in building construction and automotive industries, specifically for exterior applications, polyurethane resin is expected to witness the fastest growth over the coming years.

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

• The Malaysian sealants market is primarily 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. Construction sealants are designed for longevity and ease of application on different substrates. The construction industry plays a vital role in the Malaysian economy. However, construction activities decreased in 2020 due to the COVID-19 pandemic-induced restrictions and scarcity of raw materials, which was restored in 2021, thus, boosting the sealants demand across the country.
• Sealants have considerable applications in the healthcare industry and are primarily used for assembling and sealing medical device parts. Medical-grade sealants have unique applicability to various substrates, such as glass, metal, plastic, painted surfaces, etc., and significant features such as weather-proofing, heat resistance, and anti-aging are likely to boost the demand for sealants. Malaysia is emerging as an outsourcing destination and medical device manufacturing hub for manufacturers in the Southeast Asian region. This, in turn, is expected to boost the sealants demand in the country over the forecast period.
• The other end-user industries segment is likely to obtain a decent share in the Malaysian sealants market owing to the diverse applications in the electronics and electrical equipment manufacturing industry for potting and protecting materials. They are used for sealing sensors and cables, etc. Moreover, the rapid growth of e-commerce activities, along with the strong market positioning of the consumer electronics segment, is likely to propel the Malaysian sealants market.

Competitive Landscape

The Malaysia Sealants Market is moderately consolidated, with the top five companies occupying 55.36%. The major players in this market are 3M, Henkel AG & Co. KGaA, Mohm Chemical Sdn. Bhd., Sika AG and VITAL TECHNICAL SDN BHD (sorted alphabetically).

Additional Benefits:

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

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