Sealants & Adhesives have vast characteristics and are used principally to bond substrates & eliminate self-loosening caused by dynamic loads. Their features like adhesion, elasticity, cohesive strength, UV protection, thermal expansion resistance, etc., drive their use across different construction applications like wall covering, roofing, carpet adhesives, floor tile & continuous flooring installation, countertop lamination, etc. The rapidly increasing construction activities across Saudi Arabia are leading to the mounting sales of sealants & adhesives.
According to MarkNtel Advisors, the Saudi Arabia Construction Sealants & Adhesives Market is projected to grow at a CAGR of around 4.8% during the forecast period, i.e., 2022-27. The market is driven primarily by the swiftly expanding construction industry leading to various building & construction projects in Saudi Arabia, coupled with substantial investments by the government.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Key Companies Profiled||BASF S.E., Dow Chemicals, DuPont, Fafa Adhesive & Labeling Company, 3M Company, Nordson Corporation, Polywed Construction Chemicals, Sika AG, Saveto, SAAF Technology Co. Ltd., Techno Zone, Valve Serve|
|Unit Denominations||USD Million/Billion|
Besides, the growing tourism sector leading to several hotels being constructed, increasing usage of adhesives & sealants in the packaging industry, and the mounting number of hospitals & clinics in the country shall also fuel the overall market growth in the coming years.
Impact of Covid-19 on the Saudi Arabia Construction Sealants & Adhesives Market
Based on the Sealant Type, the Saudi Arabia Construction Sealants & Adhesives Market segments into:
Of them all, Silicone acquired the largest market share in recent years, primarily due to its extensive application across various construction activities, owing to its benefits like ultraviolet resistance, flexibility, durability, and temperature resistance. In addition, it observed a booming demand for glass & bonding on frames for structural support and air & weatherproofing at joints of structural components. Silicone helps prevent elements from inter-lock and sustaining the quality of the application. Hence, its demand has soared significantly in recent years across Saudi Arabia for various construction projects.
On the other hand, the demand for Polyurethane is projected to witness the fastest growth in the forecast period. It owes mainly to its extensive application in both new construction & renovation projects. These sealants are available in single & multi-component formulations and provide improved adhesion & abrasion resistance than Silicone. Polyurethane offers excellent adhesion to diverse substrates like concrete, plastic, wood, & glass due to its elasticity & other structural properties. Hence, its demand is expected to witness substantial growth in the coming years, states MarkNtel Advisors in their research report, “Saudi Arabia Construction Sealants & Adhesives Market Analysis, 2022.”
An increasing number of construction activities in the country remain a prominent aspect in driving the Saudi Arabia Sealants & Adhesives Market through 2027 and creating lucrative growth opportunities for the market players.
Fluctuating prices of raw materials like crude oil affecting the profitability & participation of market players might act as the most prominent factor that would hamper the Saudi Arabia Construction Sealants & Adhesives Market growth during 2022-27.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Saudi Arabia Construction Sealants & Adhesives Market is likely to grow at a CAGR of around 4.8% during the forecast period, i.e., 2022-27.
A. The burgeoning demand for Polyurethane is projected to create lucrative growth opportunities for the leading players in the Saudi Arabia Construction Sealants & Adhesives Market through 2027.
A. Rapidly increasing number of construction activities due to increasing tourism and the rising government focus on infrastructure development shall drive the Saudi Arabia Construction Sealants & Adhesives Market in the years to come.
A. The Saudi Arabia Construction Sealants & Adhesives Market is anticipated to witness considerable growth over the forecast years due to the recommencement of construction projects and the availability of a balanced supply chain.