International. The market size of polyurethane sealants is estimated at $2.42 billion in 2017, which is projected to reach $3.15 billion by 2022, at a CAGR of 5.4 percent, during the forecast period.
The growing construction and building, automotive, marine, and general industrial end-use industries in developing countries are driving the polyurethane sealants market. However, volatility in crude oil prices and increase in commodity prices are expected to restrict the overall growth of the market during the forecast period.
The growth of the market is mainly due to the increasing construction activities and awareness of environmental hazards in emerging economies such as India, China, Middle East, Thailand, Indonesia, Brazil, and Argentina.
China continues to lead the market in both Asia-Pacific and globally. Rising purchasing power parity, availability of raw materials, cheap labor, Asia's growing trade relations with other regions, and private sector involvement are some of the major factors driving this market.
Source: MarketsandMarkets.
