At 3.0% CAGR, South & Central America Sealants Market is Projected to be Worth US$ 411.29 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America sealants market was valued at US$ 325.12 million in 2023 and is expected to reach US$ 411.29 million by 2031, registering a CAGR of 3.0% from 2023 to 2031. Development of renewable sealants and strategic product launches in the sealants market are among the critical factors attributed to drive the South & Central America sealants market growth.

Renewable materials are environmentally friendly and are the subject of extensive research in various fields. Renewable materials exhibit sustainability, thereby driving their use in commercial applications. The easy availability of natural raw materials for the production of eco-friendly polymers is an added factor fueling its supply and demand. Further, due to rising concerns and awareness about the social and environmental impacts of synthesized chemicals, customers are shifting toward the utilization of renewable sealants. As a part of FOSROC Inc's sustainability pledge for 2023, the company announced the shift of its sealant product range offered in plastic cartridges to foil packs.

Stringent government regulations pertaining to the utilization of toxic chemicals across the world have encouraged many market players to develop nontoxic alternatives and green products, aiding global sustainability goals. The rising demand for renewable materials has prompted manufacturers to develop renewable sealants for various applications. In 2020, WACKER Chemie AG introduced biomethanol-based silicone sealing compounds under the brand name-ELASTOSIL eco. The nonrenewable raw materials required for production are replaced by sustainable biomass, thereby making this product the first generation of sealant manufactured without petrochemical compounds. In 2022, Dow announced the launch of a recyclable silicone self-sealing tire solution. The company aims to meet the self-sealing tire manufacturers' demands for high performance and sustainability through its new SiLASTIC SST-2650 self-sealing silicone. The global transition towards sustainability and circular economy, leading to research and development for novel sustainable sealants, can be one of the significant trends. Thus, the replacement of petroleum-derived polymers with renewable materials, otherwise sourced from natural sources, is expected to become a significant trend in the South & Central America sealants market during the forecast period.

On the flip side, fluctuations in raw material prices hamper the growth of South & Central America sealants market.

Based on type, the South & Central America sealants market is segmented into silicone sealants, polyurethane sealants, acrylic sealants, polysulfide sealants, butyl sealants, hybrid sealant, and others. The silicone sealants segment held 47.0% market share in 2023, amassing US$ 152.67 million. It is projected to garner US$ 194.17 million by 2031 to register 3.1% CAGR during 2023-2031.

In terms of application, the South & Central America sealants market is categorized into waterproofing, insulation, bonding and sealing, soundproofing, and others.

By end user, the South & Central America sealants market is divided into building & construction, automotive, electronics, healthcare, aerospace & defense, marine, energy & power, and others.

Based on country, the South & Central America sealants market is categorized Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 43.9% share of South & Central America sealants market in 2023. It was assessed at US$ 142.74 million in 2023 and is likely to hit US$ 190.11 million by 2031, registering a CAGR of 3.6% during 2023-2031.

Key players operating in the South & Central America sealants market are 3M Co, ACTEGA DS GmbH, Arkema SA, BASF SE, Dow Inc, HB Fuller Co, Henkel AG & Co KGaA, Momentive Performance Materials Inc, RPM International Inc, and Sika AG, among others.

• In 2023, ACTEGA, launched PVC-free ACTEseal heat seal coatings a breakthrough solution for the coffee capsule market.
  
  

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