Global Foam Sealant Market – Increasing Demand from Developing Countries to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–The global
foam sealant market is expected to grow at a CAGR of close to 5%
during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global foam sealant
market by application that includes building and construction and
automotive. The report also determines the geographic breakdown of the
market in terms of detailed analysis and impact, which includes key
geographies such as APAC, the Americas, and EMEA.

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Market driver: growing demand from developing countries

The developing economies, particularly China, India, Brazil, Mexico, the
Philippines, and Indonesia are expected to contribute highly toward the
growth in the global foam
sealant market during the forecast period. Several original
equipment (OEM) manufacturers of adhesives and sealants industries are
shifting their manufacturing bases to these countries because of factors
such as low transportation costs, easy availability of land, cheap labor
and raw materials, and less stringent government regulations and
policies.

According to a senior analyst at Technavio for additives,
adhesives, and sealants research, “The rising population,
high disposable income, and increasing purchasing power in the
developing countries of APAC and Latin America are encouraging higher
investments in the construction and automotive industries.”

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Market trend: growing demand from bio-based foam sealant

The increasing innovation and development of bio-based foam sealant are
anticipated to drive the market growth during the forecast period. The
ongoing research to develop soy-based polyurethane (PU) foam product
augmented with carbon nanotubes is also predicted to foster the demand
for foam sealant. The shortfall of petroleum-based foam sealant and the
increasing concern on environmental impacts of these products have led
to the adoption of renewable sources as building blocks for polymer
applications. A multi-walled carbon nanotube is used to manufacture
soy-based polyurethane (PU) foam.

Market challenge: volatility in the prices of raw materials

The polymeric materials are usually used to produce foam
sealants. Polyurethane, polystyrene, polyisocyanurate, and
others are some of the major raw materials that are used in the
production of foam sealants. Most of the raw materials that are used to
produce foam sealants are the downstream products of crude oil. The
fluctuations in the prices of crude oil are expected to affect the raw
material prices of foam sealants.

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