Construction sealants are also used in various applications including exterior applications which comprise waterproofing, window glazing, roof sealants, metal sealants, and UV resistance, among others. Construction sealants are applied on the exteriors in order to insulate the rooms for maintaining the congenial temperature while curbing the power wastage during the overrun of electrical appliances such as air-conditioners and electrical heaters. Reduction in electricity consumption being a major step toward sustainability is a major factor owing to which the exterior applications of the construction sealants are expected to be having the maximum market share of 50.65%(volume) and 50.67%(value)by 2024across the globe. The interior applications of the construction sealants refer to flooring and joining, kitchen and sanitary, fire-stopping, and noise cancellation, among others.

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North America is expected to dominate the construction sealants market during the forecast period (2020-2024). This can be attributed to the increased usage of the sealants for different exterior and interior applications in the residential dwellings in this region. North American countries are mostly prone to the extremes of cold; the region has thus witnessed a growth in the practice of room insulations and increased use of silicone sealants in the glazing applications. In North America, the U.S. dominates the market for construction sealants. This is mainly due to the widespread construction activities in the country with the involvement of some of the major players such as Bechtel Corporation, Fluor Corporation, and Jacobs Engineering Group INC.

The construction sealants market is prone to various driving and restraining factors. The growth in construction activities due to the increasing urbanization has been one of the major factors propelling the growth of the construction sealants market. The emergence of energy efficient green buildings across the globe is expected to escalate the demand further for silicon sealants. However, the major restraining factor is the strict regulations and norms toward limiting the usage of chemically synthesized sealants which release harmful VOCs upon their application.

The benefits and diverse applicability offered by the construction sealants have turned the heads of a large mass involved in the construction activities across the globe. As a result, new market players have made an entrance in the manufacture and supply of construction sealants. However, the associated harmful VOC emission in the sealants posits itself as a key challenge for the new entrants.

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The exterior applications are expected to dominate the market during the forecast period (2020-2024). This can be attributed to the increased number of glazing activities in the residential dwellings, offices, and shopping complexes, among others. The glazing activities have been gaining momentum due to the demand for energy efficient green buildings across the globe. Glazing helps in the reduction of electric power consumption and wastage due to the overrun of electrical appliances such as air conditioners and room heaters, thus lowering the GHG emissions. To enforce the widespread adoption of green buildings across the globe with greater thrust, various government agencies and regulatory bodies have launched strict regulatory measures in different countries. For instance, as the building sector of Turkey has been consuming around 42% of the country’s total energy, various regulatory bodies in the country have intervened in the matter. Consumption control is being exercised by the bodies such as Turkish Green Building Council (GBC), and regulations such as Energy Efficiency Law (EEL), and The National Energy Efficiency Action Plan (NEEAP).

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