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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 latex caulk market was valued at US$ 285.3 million in 2017 and is expected to reach US$ 424.6 million by 2026, growing at a CAGR of 4.6% from 2018 to 2026. Asia Pacific accounted for the dominant share in 2017 and is 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 on non-porous and porous surfaces, and both are widely used to seal hard gaps. A growing construction industry coupled with rising repair and remodeling activities across the globe is one of the key factors fueling market growth for latex caulk. The construction industry is fairly prominent in countries such as the U.S., China, India, Japan, and Germany.

The global construction industry is expected to witness a growth of approximately 3% in the coming four 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 of Southeast Asia is driven by heavy investment in new infrastructure projects through both public and private investments. These factors indicate strong growth for 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, the rising trend of DIY (do it yourself) repair activities in the residential sector is another key factor fueling the demand for latex caulk. Consumers nowadays prefer to deal with small repairs among themselves rather than seek expert advice that would cost more. The trend of DIY started off with the renovation of rundown and affordable homes, and the trend has surged in recent times. However, fluctuations in the prices of raw materials are a key factor restraining the growth of the latex caulk market. The prices of resins are heavily 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 production levels. Further, gaps in the demand and supply of oil also result in volatile oil prices.

Market Synopsis: Value

Acrylic Latex Caulk dominated the market in 2017 and is expected to continue in the future.

Based on resin type, acrylic latex caulk held the dominant share in 2017 and is expected to retain its position in the coming years as well. Acrylic latex caulk is mainly used for caulking and sealing doors, 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 cracks, joints, holes, and seams that are basically associated with pre-painting applications for exterior and interior purposes. Hence, ease of use, followed by various properties, is expected to drive the acrylic latex caulk segment during the forecast period from 2018 to 2026.

Residential Buildings are expected to grow significantly during the forecast period, based on application.

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

Asia Pacific is expected to continue dominating the latex caulk market during the forecast period.

The global market for latex caulk was 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 the 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. The growing residential building sector in China is mainly contributing to market growth. The heavy spending on construction activities in the Asia Pacific is driven by countries such as India, China, and Japan, where urbanization is one of the key factors driving the growth of the construction industry in these countries.

In Japan, a modest recovery in the property market followed by infrastructure needs is favorable for building material producers, which is 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 are one of the key factors driving the growth of the construction industry in the country. Private construction spending in the country crossed the $900 billion 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 the market growth of latex caulk in the country.

The key strategies of companies operating in the latex caulk market are acquisitions and expansions.

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. At its Springfield facility, 3M 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 redeveloped the building on East Pythian Street.

This expansion improved the company's ability to serve its customers and was expected to bring in $40 million in capital to the site. Further, in March 2018, Chemence, a manufacturer of adhesives, sealants, and resins, acquired the electronics adhesives business and technology from Georgia-based manufacturer Supreme Resources Inc. The strategic acquisition will help the company expand its product portfolio of Chemence adhesives and sealants, which are used in consumer electronics, automotive, and other industries.

Periods of History and Forecast

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

Report Scope

The report provides a detailed overview of the global latex caulk market by categorizing it into the following segments:

This research report describes leading continents and their major countries, along with profiles of key players operating in the 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 the global latex caulk market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights revenue pockets and investment opportunities in the market.

Key questions are 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 what opportunities exist for players?
  • How are the regulatory frameworks affecting global as well as regional markets?
  • Which are the key players operating in the global market and the strategies adopted by them?
  • What are the market size and trends in emerging and developed markets?

Frequently Asked Questions:

The market for Latex Caulk Market is expected to reach US$ 424.6 Mn by 2026.

The Latex Caulk Market is expected to see significant CAGR growth over the coming years, at 6.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

The 3M Company, Chemence, The DoW Chemical Company, Franklin International, Sherwin Williams, Bostik, Hodgson Sealants, American Sealants, Inc., Sashco, Inc are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Nov 2018
Category:  Advanced Materials
Report ID:   59424
Report Format:   PDF
Pages:   120
Rating:    4.4 (70)
Delivery Time: 24 Hours to 48 Hours   
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