Rising emphasis on boosting import and export has further fulled the demand for marine sealants by 2014- 2024

Industry Insights

The global marine sealant market was worth USD 6 billion in 2015 and is expected to witness substantial growth on account of exponential technological developments and increasing customer preference for sustainable products. The rapid growth of shipbuilding industry owing to rising emphasis on boosting import and export has further fuelled the demand for marine sealants on a global scale.

Owing to tough consistency, firm adherence to surface and rubbery flexibility, marine sealants are predominantly sought by industries requiring adhesives providing flexible surface movement at the joints while retaining adhesion at the same time. Marine sealants primarily find their applicability in bonding material surfaces together, often with the help of mechanical fasteners, and isolating two surfaces to prevent vibration as well as the passage of noise and electricity.

The property of forming a watertight and airtight seal between two bodies is the prime characteristic shaping the marine sealants utility. Providing a relatively greater degree of flexibility and permitting a considerable degree of movement to the attached surfaces without losing cohesion are the prime factors which are expected to trigger the global marine sealant demand over the forecast period.

Commercial segments of the marine sealant market comprise of bulk-shipping companies, strong commercial fleet of vessels and cruise ship operators. The Ship-building industry is the major proponent responsible for driving growth in the marine sealants market. Leisure boats having higher sales volume as well as the craftsmen and packaging industry forms the consumer market for the global marine sealant industry. 

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Increasing emphasis on Maritime defense and Marine security developments in the recent times has triggered a positive response towards global marine sealants market. Amplified defense spending with greater stress on enhancing and updating the depository arsenal is one of the key drivers expected to propel the growth of marine sealants over the foreseeable future.

Hexa Research has segmented the global marine sealant market based on Product, region and Key Players:

Segmentation by Product, 2014 - 2024 (USD Billion)

• ·         Silicones,
• ·         Polyurethane,
• ·         Butyl
• ·         Polysulfide

Segmentation by Region, 2014 - 2024 (USD Billion)

• ·         Asia-Pacific
• ·         China,
• ·         India and
• ·         Japan

Key Players Analyzed

• ·         Royal adhesive and sealant
• ·         3M Co.
• ·         Bostik
• ·         Franklin International
• ·         Henkel AG & Company
• ·         Illinois Tool Works Inc.
• ·         Avery Dennison
• ·         H.B. Fuller
• ·         Sika AG  
• ·         RPM International Inc.