In the recent years, the demand for U.S. silicone sealants arising from the construction industry has witnessed a favorable growth. Led by infrastructural developments, the construction industry in the country has supplemented the demand for silicone sealants. Residential housing and industrial uses of silicone sealants have increased in the U.S. construction industry. The rising demand from glazing and panels in new high-rise buildings has also fueled the market demand.
Most end users in the construction industry prefer organic sealants in order to reduce their upfront project costs as silicone sealants are expensive. Sealants play a vital role in sealing gaps between joints to prevent leakages. Hence, the selection of cheaper variants of sealant can degrade the overall durability of the construction and require more expenditure over the maintenance costs. There is an increased awareness among distributors and customers regarding the benefits offered by silicone sealants in exterior applications, which in turn is leading to higher demand for the overall market. The chemical and physical properties of silicone sealants are anticipated to improve on account of increased investments by key players in the research and development of the product to attain a competitive advantage in the market.
However, the market growth is restrained by harmful environmental effects of sealants. Products, such as sealants, coatings, and paints, emit volatile organic compounds owing to the chemical composition and chemicals that are utilized to make them water repellent. These chemicals engage in photochemical reaction with the atmosphere. The carbon compounds are harmful to the environment and contribute toward atmospheric changes and instability.
Manufacturers are increasingly pushing the development of bio based sealants, which is expected to provide new opportunities for the growth of U.S. silicone sealants market. The demand for low volatile organic compounds and green & sustainable sealants is expected to create lucrative growth opportunities for the market in the U.S. over the forecast period.
Major market participants operating in the U.S. include Sika Corporation, 3M Company, Wacker Chemie AG, and General Electric Company. New product development and customized product offerings are expected to be the key parameters driving competitive in the market, with frequent mergers & acquisitions being undertaken as an attempt to diversify product portfolio and gain market share in the construction applications.
In-depth report on U.S. construction silicone sealants market by Grand View Research:
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