The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Insulating a home or improving the comfort level and energy performance is one of the most important decision to make a long-time impact. Owing to the advantages associated with it, insulating foam sealant are the excellent insulation choice for home or a building owners.
Insulating foam sealant are commonly termed as one-component foam, primarily utilized for small requirements such as sealing cracks and gaps, etc. Owing to utilization of less energy and conservation of resources, it is most popular with various users. Insulating foam sealant are available for both homeowners as well as professional foam applicators across the globe. As, insulating foam sealant cures and set quickly, hence it can be bonded easily to masonry, wood, glass, metal and plastics.
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Global Insulating Foam Sealant Market: Segmentation
Globally, the insulating foam sealant market can be segmented on the basis of product type, application and end-use
Based on the product type, the global insulating foam sealant market can be segmented into,
- High Density Sealant
- Medium Density Sealant
- Low Density Sealant
Based on the application, the global insulating foam sealant market can be segmented into
- Commercial & Institutional
Based on the end-use, the global insulating foam sealant market can be segmented into,
Global Insulating Foam Sealant Market: Dynamics
Insulating foam sealant are gaining traction in the market owing to the advantages associated with it which include energy conservation, keeps out pollutants, adds physical support, prevents mold and infestation, reduces noise and drafts, etc. Further introduction of building codes and building certification requirements, such as U.S. Green Building Council’s LEED for commercial buildings, and USEPA’s Energy Star rating, etc. are expected to push the demand for insulating foam sealant and in turn driving the global insulating foam sealant market.
However, issues pertaining to the installation of insulating foam sealant is found to be one of the key factors restraining the market growth in coming years. Insulating foam sealant must be properly installed as per the manufacturer’s guidelines regarding outside temperatures/humidity in order to assure performance. Various factors such as high installation cost, requirement of proper mixing of chemical components may act restrain the growth of global insulating foam sealant market over the coming years.
Key players involved in the production of insulating foam sealant are continuously focusing on introduction of products that ensure energy efficiency as well as provides the comfort at the home. For instance, in the recent past, Dow Building & Construction Company has introduced a new formulation of window and door insulating foam sealant in Canada. This newly enhanced sealing solution delivers a higher yield per ounce of foam for door and window installation
Global Insulating Foam Sealant Market: Regional Outlook
Insulating foam sealant market across the globe is primarily related with the growth and developments in the construction industry. In terms of construction spending, currently, Asia-Pacific region accounts for more than 2/5th of the global construction spending which translates that Asia-Pacific region wield the maximum share in the insulating foam sealant market. Asia-Pacific region is anticipated to be followed by Europe in the global insulating foam sealant market in the coming years. Europe in the global insulating foam sealant market is expected to be followed by North America region over the forecast years. Latin America and Middle East & Africa region are expected to account for small share in the global insulating foam sealant market, however expected to show prominent growth in the coming years.
Global Insulating Foam Sealant Market: Market Participants
Key players involved in the global insulating foam sealant market include
- Commercial Thermal Solutions Inc.
- DAP Products Inc.
- The Dow Chemical Company
- I. du Pont de Nemours and Company
- Huntsman International LLC
- Qingdao Jinguyou Construction Materials Co. Ltd.
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