Sealers Market (Product - Coal Tar, Acrylic, Bitumen & Asphalt, and Others; Applications - Pavement & Blocks, Driveway & Parking Lots, and Others) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
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North America Sealers Market: Snapshot
The sealers market in North America is projected to experience moderate growth over the course of the forecast period, driven primarily by the demand for sealers to be used in driveways and parking lots. The increased usage of acrylic sealers with added benefits such as low volatile emissions are likely to offer significant opportunities for growth in the future.
Transparency Market Research projects that the sealers market in North America will rise from a value of US$ 465.6 Mn in 2018 to US$ 716.2 Mn by 2027, expanding at a CAGR of 4.9% therein.
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Increased Use of Sealers Anticipated in Driveways and Parking Lots
Driveways and parking lots formed the leading application segment of the North America sealers market, in terms of volume, accounting for a share of more than 80% in 2018. The use of coal tar and asphalt sealers in driveways and parking lots lends a sheen to the surface and provides protection against damage by water, lubricants, and external agents. Pavements and blocks will likely form the fastest-growing application segment of the sealer market between 2019 and 2027. Other applications of sealers include race tracks, airports, industrial constructions, and sport arenas.
By product, bitumen and asphalt-based sealers were the leading revenue generators in the North America sealers market in 2018. Rising bans on coal tar-based sealers, the improved performance of asphalt-based sealers, and competitive pricing strategies are expected to result in the increased consumption of bitumen and asphalt sealers in North America from 2019 to 2027.
Acrylic sealers are projected to expand at a significant pace during the forecast period, fueled by their superior product quality and increased penetration in the decorative concrete segment.
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Consumer Preference for Bitumen and Asphalt-based Sealers Rises in U.S.
The North America sealers market comprises the U.S., Canada, and Mexico. In terms of volume, the U.S. held the leading share of more than 85% in 2018. This market has been undergoing a transition in demand from coal tar sealers to bitumen and asphalt-based sealers. Increasing awareness regarding PAH (poly-cyclic aromatic hydrocarbons) emissions from coal tar sealers has driven several states in the country to implement a ban on coal tar sealers. Several contractors and hardware stores, including Lowe’s, Home Depot, and Ace Hardware, have also ceased applying and retailing coal tar-based sealers across the country. In the U.S., the acrylic segment is projected to expand at a significant pace during the forecast period, with the bitumen and asphalt segment accounting for a key share in the overall market in 2018.
Canada also held a considerable share in the sealers market in North America. The country is likely to witness a steady growth in the application of asphalt and bitumen as well as coal tar sealers in the future. Considering that currently Canada has no legislations or bans pertaining to the use of coal tar sealers, this market is expected to witness steady growth in the coming years. The demand for sealers in Canada stems from the driveway and parking lots application segment and the pavement and blocks segment is projected to present considerable scope for growth as well.
Key Players in the North America Sealers Market
Key players in the North America sealers market include
- Neyra Industries, Inc.
- Bonsal American
- Fahrner Asphalt Sealers LLC
- Asphalt Coatings Engineering, Inc.
- The Brewer Company
- Vance Brothers
- GemSeal Pavement Pro
North America Sealers Market: Recent Developments
In coming years of the forecast period, the North America sealers market is expected to witness a highly promising rate of growth. There are several factors that are helping to drive the growth of the North America market such as increasing demand for composites joints and construction activities that are currently under development in the region.
However, there are some factors that might impede the growth of the North America sealers market in the near future and may stop it from reaching its full potential. One of the key restraining factor for market growth has been strict regulations for the usage of VOC-free contents.
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Some of the notable developments in the North America sealers market are given below:
- In 2018, Neyra Industries, a leading brand in the North America sealers market, announced that the company has launched its service network expansion with the help of its brand new manufacturing plant. This new manufacturing plant is based out in Graha, North Carolina, and has been in operation since spring of 2018. This expansion of Neyra’s manufacturing operations is projected to drive the consistent growth of the company in the North America region and meet the growing demand for existing as well as new customers. With this investment, the company has planned to make a marked shift in terms of its operations and overall functioning.
- Recently in April 2019, Neyra Industries also announced that the company has acquired Louiso Trucking. Luiso has been a long standing logistical partner of Neyra Industries and the takeover came into effect on April 1, 2019. This new division of the company will be known as Neyra Interstate. This acquisition of 40 year old, family owned business company, will help in expanding as well as strengthening the overall portfolio of Neyra Industries
Sealers Market – Scope of the Report
Transparency Market Research’s recent report on the North America sealers market, with the help of a comprehensive outlook, provides readers with an assessment of the North America market landscape. This study on the North America sealers market analyzes the market scenario for the period from 2018 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the North America sealers market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the North America sealers market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the North America sealers market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in North America Sealers Market Report
- How much value does the North America sealers market is expected to reach by the end of the forecast period?
- Which segment currently account for the maximum share of the North America sealers market?
- What are the key factors expected to drive the North America sealers market?
- Which region is likely to be a lucrative market for sealers during the forecast period?
- What are the essential strategies adopted by key players operating in the North America sealers market to expand their presence?
- What are major advancements in the North America sealers market?
This report answers these questions about the North America sealers market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
North America Sealers Market: Research Methodology
This TMR report on the North America sealers market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the North America sealers market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the North America sealers market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the North America sealers market, by using both bottom-up and top-down approaches
This detailed assessment of the North America sealers market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the North America sealers market is set to expand are based on carefully vetted primary and secondary sources.
North America Sealers Market: Segmentation
This report on the North America sealers market provides segmentation of the market based on product, application, and country