22:03 | 09.02.2018
Global Marine Sealants Market – Rising Demand From Developing Countries to Boost Growth | Technavio
marine sealants market is expected to grow at a CAGR of
over 6% during the period 2018-2022, according to a new market research
study by Technavio.
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Technavio has published a new market research report on the global marine sealants market from 2018-2022. (Graphic: Business Wire)
The report categorizes the global marine sealants market based on type
of products which includes polysulfide, silicone, polyurethane, butyl,
and others. This report also presents an analysis of the growth
prospects of the market across various geographic regions such as the
Americas, APAC, and EMEA.
Save more with Technavio.Buy 2 reports and get the
third for free:ViewTechnavio’s latest discounts and promotionsMarket driver: rising demand for marine sealants from developing
Developing countries such as China, India, Brazil, Mexico, the
Philippines and Indonesia exhibit a high demand for marine sealants.
Factors such as low transportation costs; availability of land,
inexpensive labor, and raw materials; and lenient government regulations
have led many OEMs of marine sealants to relocate their manufacturing
plants to these countries.
According to a senior analyst at Technavio for additives,
adhesives, and sealants research, “The growing population,
high disposable incomes, and rising purchasing power in the developing
countries of APAC and South America have led to an increase in
investments in the travel and tourism industry. High foreign direct
investments in countries such as China are expected to fuel shipbuilding
activities. The growth of the shipbuilding industry is likely to have a
significant influence on the global marine sealants market during the
Looking for more information on this market? Request
a free sample reportTechnavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.Market trend: increasing demand for marine sealants from commercial
The growing oil and gas industry and increasing use of petroleum
products have led to an increase in the demand for tankers. Oil and gas
are shipped in tankers that require marine
sealants. Energy and related sectors fuel the demand for coal.
Coal reserves are concentrated in specific regions and are transported
through sea-routes. The increase in ore trading has fueled the demand
for dry bulk carrier cargoes. The food and beverages (F&B) industry also
exhibits high demand for commercial cargoes, which use marine sealants.
Market challenge: volatile prices of raw materials
Polymeric materials are commonly used for producing marine sealants.
Acrylic, silicone, and polyurethane are some of the raw materials. Most
of the raw materials used in the production of marine sealants are the
downstream products of crude oil. The high price of crude oil is
expected to have an impact on the prices of raw materials. For instance,
Dow Polyurethanes Europe, India, the Middle East, and Africa announced
an increase in prices of raw materials such as polyols, toluene
diisocyanate (TDI), and methylene diphenyl diisocyanate (MDI) products
from May 2016.
Is your business on track for a successful future? Learn
how Technavio can helpTechnavio helps businesses anticipate changes in their marketplace,
make proactive adjustments, and develop effective strategies to optimize
their market positions.Some of the major contributors in the global
marine sealants market:
Get a sample copy of the global
marine sealants market free of costAccess Technavio’s continuously growing additives,
adhesives, and sealants research library and find expert
analysis on hundreds of markets.About TechnavioTechnavio
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180209005508/en/