Latex Caulk Market By Resin Type (Acrylic Latex Caulk, Acrylic Latex Silicone Blend Caulk, Vinyl Latex Caulk), By Application (Residential Buildings, Non-Residential Buildings, Industrial) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Industry Outlook

The global market for latex caulk was valued at US$ 285.3 Mn in 2017 and expected to reach US$ 424.6 Mn by 2026, growing at a CAGR of 4.6% during the forecast period from 2018 to 2026. Asia Pacific accounted for the dominant share in 2017 and expected to retain its position throughout the forecast period.

Caulk is a material that is used to fix gaps and cracks in doors, pipes and plumbing, concrete, roofing and kitchen tiles among others. Caulking controls water penetration, lowers noise transmission and provides thermal insulation. Latex caulk is gaining rapid acceptance over silicone caulk due to its ease of application in non-porous and porous surfaces and they are widely used to seal hard gaps. Growing construction industry coupled with rising repairing and remodeling activities across the globe is one of the key factor fuelling market growth for latex caulk. The construction industry is fairly prominent in countries such as U.S., China, India, Japan and Germany. The global construction industry is expected to witness a growth of approximately 3% in the coming 4 years. Asia Pacific is expected to continue dominating the global construction industry led by China, India and Japan. The construction industry in the emerging markets for South-East Asia is driven by heavy investment in new infrastructure projects through public and private investments. These factors signify strong growth of the latex caulk market in Asia Pacific in the coming years. Further, the construction industry in the U.S. is majorly supported by the residential sector and is expected to garner steady growth during the forecast period.

Moreover, rising trend of DIY (do it yourself) for repairing activities in the residential sector is another key factor fuelling the demand for latex caulks. Consumers nowadays prefer to deal with small repairing activities among themselves rather than seeking expert advice that would cost more. The trend of DIY started off with renovation of rundown and affordable homes and the trend has surged in recent times. However, fluctuations in the prices of raw materials is a key factor restraining the growth of the latex caulk market. The prices of resins are majorly dependent on the prices of crude oil. The Organization of Petroleum Exporting Countries (OPEC) has a major influence on oil prices. OPEC controls more than 40% of the global oil supply and is responsible for influencing the price of oil and gas by regulating the production levels. Further, gap in the demand and supply of oil also results in volatile oil prices.

Market Synopsis: Value

Latex Caulk Market

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"Acrylic Latex Caulk Dominated the Market in 2017 and Expected to Display Similar Trend in Coming Years"

Based on resin type, acrylic latex caulk held the dominant share in 2017 and expected to retain its position in the coming years as well. Acrylic latex caulk is mainly used for caulking and sealing doors and window frames and trim before painting with oil based paint or latex. It basically finds application in paintings where it can fill any gap between ceilings, walls and woodwork trim. It also aims to seal gaps around electrical switch plates to prevent heat loss and minimize cold drafts. Moreover, this product is also used as a filler compound for crack, joints, holes and seams that are basically associated with pre painting applications for exterior and interior purpose. Hence, ease of use, followed by various properties are expected to drive the acrylic latex caulk segment during the forecast period from 2018 to 2026.

Latex Caulk Market

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"Residential Buildings, based by Application are Expected to Exhibit Significant Growth during the Forecast Period"

Residential buildings are expected to display the fastest growth during the forecast period from 2018 to 2026, owing rising investment on building & infrastructure development across the world coupled with growing number of housing projects in developing economies to cater the growing population. Latex caulk prevents water intrusion through holes cracks and gaps. Moreover, it helps in mitigating the heat loss from cracks and gaps in wall, roof, windows, doors, etc. and creates efficient air barrier system consequently lowering the dependence on air conditioning which in turn reduces the energy costs. Strict environmental & governmental regulation and international building codes demanding the use of green materials for building energy efficient structures to reduce high-energy costs propelling the demand for latex caulk in the residential building segment.

Latex Caulk Market

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"Asia Pacific Expected to Continue Dominating the Latex Caulk Market During the Forecast Period"

The global market for latex caulk is dominated by Asia Pacific in 2017, followed by North America. Asia Pacific is projected to be the most lucrative market in the global latex caulk market. Growing demand from construction industry is mainly driving the Asia Pacific region. In 2017, China held the largest value and volume share in the global latex caulk market. Growing residential building sector in China is mainly contributing to the market growth. The heavy spending on construction activities in Asia Pacific is driven by countries such as India, China and Japan, where urbanization is one of the key factors driving the growth of construction industry in these countries. In Japan, a modest recovery in the property market followed by infrastructure needs are favorable for building material producers which in turn expected to augment the market demand for latex caulk. Further, the construction industry in North America is one of the largest in the world, thus making it one of the key regions for latex caulk. Positive trends in housing activities is one of the key factors driving the growth of the construction industry in the country. Private construction spending in the country crossed the US$ 900 Bn mark in 2016. Further, the construction sector in the U.S. accounted for approximately 4.5% of the Nation’s Gross Domestic Product (GDP) in 2016, up from 4.2% in the previous year. This signifies the strong growth of the construction industry in the U.S., which in turn is fueling market growth of latex caulk in the country.

Latex Caulk Market

"Acquisitions and Expansions are the Key Strategies of the Companies Operating in the Latex Caulk Market"

Notable players operating in the global latex caulk market include The 3M Company, Chemence, The DoW Chemical Company, Franklin International, Sherwin Williams, Bostik, Hodgson Sealants, American Sealants Inc., Sashco, Inc., and DAP products.

In May 2017, 3M expanded the manufacturing operations at its Springfield facility. 3M, at its Springfield facility manufactures adhesive coating films, adhesives and sealants that find usage across several industries such as construction, aerospace, and electronics among others. The company updated the plant on East Chestnut Expressway and re-developed the building on East Pythian Street. This expansion helped the Company to serve its customers in a better way and was expected to bring US$ 40 million in capital to the site. Further, in March 2018, Chemence, a manufacturer of adhesives sealant and resins acquired the electronics adhesives business and technology from Georgia based manufacturer Supreme Resources Inc. The strategic acquisition will help the Company to expand the product portfolio of Chemence on adhesives and sealants, which are used in consumer electronics, automotive, among others.

Latex Caulk Market

Historical & Forecast Period

Our study analyzed each market segment during the period from 2016 to 2026 with 2017 as the base year. Forecast period between 2018 and 2026 considered for the CAGR calculation.

Report Scope

The report enlightens the thorough outline of global latex caulk market by categorizing the market in different segment given below:

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million
Segmentation

 Resin Type Segment (2016–2026; Kilo Tons, US$ Mn)
 • Acrylic Latex Caulk
 • Acrylic Latex Silicone Blend Caulk
 • Vinyl Latex Caulk

 Application Segment (2016–2026; Kilo Tons, US$ Mn)
 • Residential Buildings
 • Non-Residential Buildings
 • Industrial

 Geography Segment (2016–2026; US$ Mn)
 • North America (United States and Canada)
 • Europe (U.K., Germany, Rest of Europe)
 • Asia Pacific (China, Japan, Rest of Asia Pacific)
 • Latin America (Brazil, Mexico, Rest of Latin America)
 • Middle East and Africa (GCC, Rest of MEA)

This research report describes leading continents and their major countries, along with profiles of key players operating in overall market and their planned developments. Our report further defines the overall market dynamics such as drivers, challenges, and opportunities prevalent in the market to understand global latex caulk market more explicitly. Our in-depth quantitative and quantitative analysis of each segment up to country level highlights revenue pockets and investment opportunities in the market.

Key questions answered in this report

  • Who are the major manufacturers and distributors operating in the latex caulk market?
  • What are the largest segments in the market during the forecast period from 2018 to 2026?
  • Which are the fastest growing segments in the market for the forecast period?
  • What are the current market trends in the latex caulk market and valuable opportunities for the players?
  • How are the regulatory frameworks affecting the global as well as regional markets?
  • Which are the key players operating in the global market and the strategies adopted by them?
  • What is the market size and trend in emerging and developed markets?
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Published Date:  Nov 2018
Category:  Advanced Materials
Report ID:   59424
Report Format:   PDF
Pages:   120
Rating:    4.4 (70)
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