Fuel Resistant Sealant: Introduction
- Fuel resistant sealant is used in various end-use industries, as it is useful in several temperature ranges. It is utilized for the purpose of fuel storage. Fuel resistant sealants are used in storage containers with plausible exposure to gasoline, crude oil, and ethanol.
- The fuel resistant sealant market can be segmented based on resin type, application, and region. In terms of resin type, the global fuel resistant sealant market can be divided into polyurethane, plastisol, silicone, polysulfide, and semi-synthetic & synthetic resins. Polyurethane is anticipated to emerge as a rapidly growing resin type due to its several applications in various end-use industries. Polyurethane is a polymer made of organic units connected by carbamate (urethane) links. Based on application, the market can be categorized into aerospace, automotive, and others. Automotive is the leading application segment, which is likely to dominate the market in the next few years.
Drivers of Fuel Resistant Sealant Market
- The global fuel resistant sealant market is anticipated to expand significantly in the next few years owing to the rise in demand for these sealants in construction and automobile industries. Growth in the construction sector is estimated to propel the fuel resistant sealant market in the near future.
- The global fuel resistant sealant market is driven by the rise in demand for fuel storage and requirement of fuel resistant sealants for effective performance of assets in the automotive sector. A fuel resistant sealant with no hold time provides instant strength, leading to an increase in production and cost efficiency with improved quality and reduced cost for various applications. The primary application of a fuel resistant sealant is to assemble and repair fuel lines, tanks, and joining components exposed to fuels and oils.
Restraints of Fuel Resistant Sealant Market
- Environmental concerns and fluctuating raw material prices are estimated to hamper the fuel resistant sealant market in the next few years. However, rise in preference of fuel resistant sealant in the aviation industry is likely to augment the demand for fuel resistant sealants.
- Dearth of universal directives pertaining to applications of fuel resistant sealant is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of fuel resistant sealant. Companies find it difficult to deal with these county wise regulations. This discourages investment in the fuel resistant sealant market, thereby restraining the market.
COVID-19 impact on Fuel Resistant Sealant Market
- The COVID-19 outbreak is hampering the demand for fuel resistant sealant in many applications. Many governments across the globe enforced lockdown as measure to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this is hampering the demand for fuel resistant sealant.
- Key players operating in the fuel resistant sealant market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of fuel resistant sealants.
Asia Pacific to Hold Major Share of Fuel Resistant Sealant Market
- Asia Pacific accounted for major share of the global fuel resistant sealant market in 2020. Latin America and Asia Pacific are rapidly developing regions of the fuel resistant sealant market.
- Increase in development activities in developing countries of Asia Pacific such as China, India, and Japan is anticipated to boost the fuel resistant sealant market in the region. Demand for fuel resistant sealant is rising in the automobile industry in Latin America. This is boosting the fuel resistant sealant market in the region.
- The market in North America and Europe is likely to expand at a sluggish pace in the near future. Growth of the aerospace sector is estimated to propel the fuel resistant sealant market in these regions. Middle East & Africa is anticipated to offer vast potential for the fuel resistant sealant market, led by the developing oil & gas industry in the region.
Global Fuel Resistant Sealant Market: Key Players
Major players operating in the fuel resistant sealant market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- The Dow Chemical Company
- Bostik, Inc.
- PPG Industries, Inc.
- BASF
- Royal Adhesive & Sealants
- 3M
- Dow Corning Corporation
- Lord Corporation
- Sika AG
- Hodgson Sealants
- Tremco Sealants MECS, Inc.
- Permatex
Global Fuel Resistant Sealant Market, by Resin Type
- Polyurethane
- Plastisol
- Silicone
- Polysulfide
- Semi-synthetic & Synthetic Resins
Global Fuel Resistant Sealant Market, by Application
- Aerospace
- Automotive
- Others
Global Fuel Resistant Sealant Market by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
