A recent study published by Persistence Market Research (PMR) finds that the demand for polysulfide sealants increased at slower rate during 2014-2018, however their growing applications in the construction industry are expected to amplify the demand between 2019 and 2029. PMR study opines that the sales of polysulfide sealants will increase from nearly 177 kilo tons in 2018 to more than 181 kilo tons in 2019, recording nearly 3% y-o-y during this year. On assessing all the important micro and macroeconomic factors that are shaping the polysulfide sealants landscape, the PMR study projects that the global market is likely to surpass a valuation of US$ 1 billion in 2019, attributing to their growing applications in commercial infrastructures landscape.
The PMR study finds that the demand for polysulfide sealants remained relatively low in the past few years. High cost of polysulfide sealants is one of the primary factors that restricted their demand and sales in industrial or commercial applications, according to the study. Though polysulfide sealants are manufactured using minimal to negligible amount of solvents, the polysulfide polymer base accounts for nearly half the manufacturing cost, which leads to higher prices of polysulfide sealants. As it is nearly impossible to change the chemical configuration of polysulfide sealants, the high prices are inevitable, which was restricting the growth of the market.
Furthermore, due to their viscous properties and solvent-free characteristics, polysulfide sealants require additional catalysts in order to expedite their cure time, which ultimately adds to the end-use costs of polysulfide sealants. Consequently, customers are showing preference for other sealants with lower operational costs over polysulfide sealants in various industrial applications. In addition to this, polysulfide sealants take nearly a week to reach its complete strength under room temperature. Such shortcoming of polysulfide sealants are reflecting in customers moving towards its alternatives, and ultimately, this was hampering the growth of the market, opines PMR.
Infrastructural Developments in Construction and Aviation to Create Lucrative Opportunities
The PMR study opines that the growth of the construction industry and rising developments in commercial infrastructures, especially in urban areas, is mainly attributed for the positive growth prospects of the polysulfide sealants market. As polysulfide sealants are among the most commonly used components in the construction industry, and with the increasing number of housing and commercial construction projects, the polysulfide sealants market is expected to gain an impetus in the coming years.
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Furthermore, the demand for polysulfide sealants in the aviation industry is growing at a significant rate, as polysulfide sealants are becoming ubiquitous aircraft maintenance processes such as inspection, servicing, and repair. Polysulfide sealants are used in providing strong adhesion on uneven surfaces in aircrafts, which is creating new sales opportunities for stakeholders in the market. In the coming years, the aviation industry is expected to witness impressive growth, and consequently, with the rapidly multiplying number of aircrafts in the industry, the demand for polysulfide sealants will grow significantly high, opines the PMR study.