Marine Sealants - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Marine Sealants Market is accounted for $87.53 million in 2020 and is expected to reach $168.10 million by 2028 growing at a CAGR of 8.5% during the forecast period. Steady growth in the shipbuilding industry and increasing demand for yachts and leisure boats are driving the market growth. However, the economic downturn along with rising uncertainties regarding shipbuilding regulations for imports and exports is hampering the growth of the market.
Sealants are those materials applied to two or more substrates to fill the space between them, thereby restricting the passage of fluids. Sealants are often used to help resist the relative movement of the substrates that compose the assembly. Marine sealants serve a diverse set of functions ranging from waterproofing, vibration-damping to insulation.
Based on the product type, the polysulfide segment is going to have lucrative growth during the forecast period owing to the effective product usage in both above and below the waterline applications and increasing preference for polysulfide because of its benefits including optimum elasticity and flexibility, particularly in hardware sealing. By geography, Asia Pacific is going to have high growth during the forecast period due to the high investments in ship maintenance mainly in China, Japan, India, and South Korea, expansion of manufacturing capacity, competitive production costs, and several strategic developments.
Some of the key players profiled in the Marine Sealants Market include Sika AG, Avery Dennison, RPM International Inc, Dow Corning, Illinois Tool Works, Henkel, Franklin International, Inc., Bostik Marine, Royal Adhesives & Sealants, LLC, Adshead Ratcliffe Co Ltd, 3M, Saba Shipping & Stevdoring Co Ltd and H.B. Fuller.
• Passenger Ships
• Pleasure Boats
• High Speed Craft
• Fishing Vessel
• Cargo Ships/Goods Transport Ships
• Other Types
Product Types Covered:
• Silyl Modified Polymer (SMP)
• Window Bonding
• Deck To Hull
• Below Water-Line Sealing
• Above Water-Line Sealing
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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