Sealing Coatings Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Sealing Coatings Market is segmented By Product Type (Coal Tar-based Introduction, Asphalt-based, Acrylic Polymer, Others), By Application (Road Construction, Building Construction, House Construction, Bridge and Tunnel Construction, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Sealing Coatings Market Overview

The Global Sealing Coatings Market is expected to grow at a CAGR of 4% during the forecasting period (2023-2030). The sealing coating is the procedure of applying a protective coating to asphalt-based pavements to apply a layer of safety from the elements: water, oils, and U.V. damage. There are three types of pavement sealers. They are known as coal tar-based, petroleum-based and asphalt-based. All three have their advantages but are chosen by the contractors’ preference unless otherwise specified. Sealing coatings denotes the coating formed by the coating to prevent rain or leakage of a coating. These coatings also result in a slip-resistance surface and are aesthetically pleasing owing to their deep black finish, which adds a level of magnificence to the parking lot or driveway.

It can be widely used in building roofing, basement, underground garage, indoor kitchen and toilet, water room, balcony, facade, slit, window, pillar, pipe channel and grain, water tower, steel structure plant roof, swimming pool, and power plant cooling tower wall waterproof. The process of sealing the coating is not difficult. Most manufacturers can guarantee the high quality of their products so that their products can meet the needs of high-end consumers.

Sealing Coatings Market Scope

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Sealing Coatings Market Growth and Trends

Currently sealing coatings have a wide range of applications in the construction field. With the continuous development of industries related to sealing coating applications, the demand for sealing coatings is also increasing. Since the application of seal coating in bridge tunnel construction has not been recognized by the state, its application is still relatively small.

Increasing investments in infrastructure and road connectives

The growth of the sealing coating market is expected to increase by the rising investments in infrastructure and road connectives due to rapid growth in industrialization and urbanization and therefore fueling the demand for sealing coating in the pavement construction sector. Moreover, shopping centres, schools, hospitals, malls, multiplexes, stadiums, airports and others have their driveways and parking lots. Increasing the construction of such buildings and other commercial institutions in these regions is expected to drive the market for sealing coatings coats through the years to come.

Increased trend of nuclear families in the country

With the increased trend of nuclear families in the country, apartments have become one of the major preferences, leading to the construction of high-rise residential buildings and townships, thus, increasing the requirement of parking spaces, walkways, and driveways in such segments.

COVID-19 Impact Analysis on Sealing Coatings Market

COVID-19 pandemic has affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. The global sealing coating market is hindered by the COVID-19 pandemic, as the construction industry was affected badly resulting in unavailability of raw materials, shortage of laborers, and disruption in the supply chain. The decline in the repair works from the construction industry had also decreased the demand growth for sealing coatings in 2020. Moreover, the global construction sector is anticipated to witness a period of negative/low growth. However, after gaining normalcy, the construction sector can revive to its full potential.

The global sealing coating market is hampered by the COVID-19 pandemic, as the construction industry came to standstill owing to the unavailability of raw materials, shortage of laborers, and disruption in the supply chain. The slowdown in the repair works from the construction industry had a key role in making the demand growth harder to achieve for sealing coating in 2020. The global construction sector is expected to witness a period of negative/low growth over the next two years, driven by an economic downturn triggered due to the outbreak.

Over the medium term, the growth of the sealing coating market is likely to be driven by the increasing investments in infrastructure and road connectives due to rapid industrialization and urbanization, thus fueling the demand for sealing coating in the pavement construction sector.

Sealing Coatings Market Segmentation Analysis

Based on the product type, the sealing coatings market has been classified into coal tar-based, asphalt-based, acrylic polymer-based and other product types.

Asphalt-Based Sealing Coatings Segment Accounted For The Highest Share In The Global Market

The asphalt-based sealing coatings segment is anticipated to witness major growth over the period due to the ban on refined coal tar-based sealers in various countries. Also, asphalt-based sealings are witnessing high growth due to their compliance with environmental norms. Moreover, according to the National Asphalt Pavement Association, approximately 90% of the surface parking zones are covered with asphalt pavement in the U.S. this will lead to a rising in demand for the asphalt. Moreover, the increase in construction and refurbishment projects in the U.S. and various other countries will further boost the product demand.  The coal tar-based sealers are recommended for most applications due to their superior performance. Growing usage of sealants to increase the longevity of roads and pavements across the world will supplement the sealing coatings market share during the forecast period.

However, refined coal tar-based sealers, black sealant contains certain toxic compounds like PAHs (polycyclic aromatic hydrocarbons)that can have a negative impact on both humans and the environment. This has resulted in the banning of the product in several cities, which may hamper industry growth.

Based on the application, the sealing coatings market has been classified into road construction, building construction, house construction, bridge and tunnel construction and others.

In terms of application, the road construction & parking lots segment is estimated to generate maximum product demand through the forecast period as they are exposed to corrosive chemicals, like gasoline and other automotive liquid leaks. These external elements can weaken and in time can destroy the layers of the roadways. However, sealing coating applications can overcome the problems which are created by chemicals, UV rays, water, or any corrosive material. Moreover, coat seals save both money and time spent in repairing damages and cracks on driveways & parking lots, thereby expanding their lifespan. Therefore, sealing coatings is anticipated to have positive growth in the near future.

Global Sealing Coatings Market Geographical Share

Based on geography, the study analyzes the global sealing coatings market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America Leads The Global Market Throughout The Forecast Period

North America is expected to have a major share of sealing coatings market growth through the forecast period. This region has invested heavily in infrastructure which includes the development of various airports. This could result in the growth of the sealing coatings market. Moreover, the U.S. aviation industry also invested in Airport Improvement Program which further propels the revenue share during the forecast period.

Sealing Coatings Market Companies and Competitive Landscape

The sealing coatings market is highly competitive, owing to the presence of sealing coatings brands. The key sealing coatings players which are contributing to the growth of the global market include BASF, RaynGuard, STAR Inc., Bb fabrication renaulac, Crafco Inc Koster, Grupo Puma, Draco, Coatncool, Rialto, and others.

RaynGuard

Overview: RaynGuard is one of the recognized leaders in innovative asphalt preservation technology. It provides quality, cost-effective solutions for protecting and maintaining customers pavement assets. Its premium materials can be found on parking lots, roadways and airfields in different countries around the world. Few distributors of the company are Steelguard and Overkote distributors.

Product Portfolio: The company's portfolio comprises premium asphalt coatings, crack fillers and loop fillers, tools & supplies, delivery and storage equipment sales and rentals and others

Why Purchase the Report?

• Visualize the sealing coatings market segmentation composition by product type, application, and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the Sealing Coatings Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of Sealing Coatings Market- level 2 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global sealing coatings market report would provide access to an approx. 46 market data table, 46 figures and 180 pages.

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