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

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

The South Africa Sealants Market is projected to register a CAGR of 4.98%

Key Highlights

• Largest Segment by End User Industry - Building and Construction : In South Africa, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing and heat insulation.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry is forecast to witness the fastest growth in the market owing to the rapid expansion of general aviation in the domestic market.
• Largest Segment by Resin - Silicone : Silicone sealant is the major resin-based sealant as it accounts for the largest application share in the building and construction industry for both interior and exterior uses.
• Fastest-growing Segment by Resin - Polyurethane : Due to its excellent tear and abrasion resistance and wide usage in the building and construction end-user industry, polyurethane sealant is likely to be the fastest-growing sealant in the country.

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

• The construction industry dominates the South African sealants market due to 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 country’s economy. However, construction activities decreased by 36.6% in 2020 due to the COVID-19 pandemic-related restrictions and scarcity of raw materials.
• The other end-user industries segment comprises electronics and electrical components, locomotive and marine, and DIY, of which the electronics industry holds the largest share due to the diverse applications of sealants 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 information technology, along with the strong market positioning of the consumer electronics segment, is expected to propel the electronics industry and gradually boost the South African sealants market.
• Sealants have numerous applications in the healthcare and automotive industries, and South Africa has registered significant growth in these sectors over the last few years. Sealants are used in healthcare primarily for assembling and sealing medical device parts. The automotive industry also exhibits significant applicability of sealants to various substrates such as glass, metal, plastic, and painted surfaces. Rapidly growing domestic demand for better healthcare facilities and increasing investments in these sectors are expected to influence the demand for sealants over the forecast period.

Competitive Landscape

The South Africa Sealants Market is moderately consolidated, with the top five companies occupying 41.56%. The major players in this market are Arkema Group, Dow, Henkel AG & Co. KGaA, 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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