Global Latex Caulk Market: Snapshot
The demand within the global latex caulk market has been rising on account of advancements in the worldwide constructions industry. Latex caulk can be painted on the surface of doors and window panes before coating them with oil colours and other paints. Hence, the relevance of latex caulk has led to increasing demand within the global market. Furthermore, coating of latex caulk can give a mark of supremacy to the overall process of coating. This is because latex caulk makes the surface smooth, which in turn helps in coating and painting. Latex caulk is believed to perform better than silicon caulk, an this is a key consideration for the consumers. Several new types of products in the latex market have emerged in recent times. All of these products have been embraced by the constructions industry, with particular preference for high-performance painting aids such as latex caulk.
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Doors and windows are exposed to unstable weather which in turn results in constant wear and tear. Hence, it is important to paint these doors with substances that can resist unfavourable weathers and external attacks. Henceforth, the global latex caulk market is projected to expand at a stellar pace in the years to follow.
On the basis of geography, the global latex caulk market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The global latex caulk market in Latin America and North America is expected to expand alongside advancements in the field of construction management.
Latex Caulk Market: Overview
The global Latex Caulk Market is anticipated to witness an exponential growth during the forecast period 2018 – 2028, due to booming construction activities all across the world. Significant growth of remodeling and repairing activities particularly in the emerging economy countries due to rise in disposable income and increasing preference for a healthy and comfortable lifestyle is pushing the global latex caulk market towards forward direction.
Experts believe that the global latex caulk market is likely to grow at a robust CAGR during the tenure period, which will make the market worth hundreds of millions by the end of the assessed period. Caulk is basically a type of filler material that is used to make waterproof seal or insulation between building materials. Caulk material finds its application in numerous applications such filling gaps or cracks around plumbing and pipes, doors, tiles, kitchen, glass, gutter, concrete, roofing, and windows. This helps in preventing building from getting damaged by air water that might seep into building materials.
Global Latex Caulk Market: Drivers and Restraints
Another feature that is favoring the rapid adoption of latex caulk is it helps in reducing noise transmission from outside. Incoming noises from outside such as traffic, particularly in the urban areas have caused difficulties in sleeping patterns. Latex caulk is gaining extensive acceptance over silicone caulk owing to its ease of application in porous and non-porous surfaces. Latex caulk is extensively used to fill hard and wide gaps. Significant rise in construction activities in both developed and developing countries owing to rapid urbanization and industrialization is playing a pivotal role in favoring the growth of the market. Remodeling and renovation of old structures by private and government bodies to attract tourists is accelerating the growth of the market. Construction activities in countries such as Germany, Japan, India, China, and U.S., is increasing day by day, this bodes well with the growth of the market. Heavy cash flow from investors for new infrastructure projects is helping the construction market to expand which directly has a positive impact on the latex caulk market.
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Apart from these, ongoing trend for Do It Yourself (DIY) for repairing and renovating in residential areas is fueling the demand of the market products. People these days, often prefer to repair small things on their own instead of seeking help from professionals. DIY helped people to renovate and build their homes according to their financial condition, since then this cost effective trend has increased. However, on the other hand, the market is confronted by several restraint factors which will deter the growth of the market. Volatility in prices of raw material required for latex caulk is considered to be major factor hampering the market growth. Cost of resins mostly depend on the cost of crude oils. Fluctuations of crude oil prices due to widening gap in demand and supply along with political feud is deterring market growth.
Global Latex Caulk Market: Market Potential
Recently, a major player in the latex caulk market, Chemence, who is a manufacturer of resins ans adhesives sealant acquired Supreme Resource Inc.’s electronics adhesives business. This acquisition is anticipated to help the company to increase their product portfolio of adhesives and sealants.
Global Latex Caulk Market: Regional Outlook
On the basis of region, the global latex caulk market is dominated by North America in recent years, owing to the presence of established players and surge in construction activities. However, Asia Pacific is likely to provide lucrative opportunity to the market due to rapid urbanization and significant growth in the spending capacity of individuals. Rise in residential and commercial building sector in the region will boost the market.
Global Latex Caulk Market: Competitive Landscape
One of the strategy obtained by players is to undergo a strategic partnership such acquisitions and mergers with regional players in order to extend the footprint in various pockets of the world. Some of the major players in the market are The DoW Chemical Company, Shwewin Williams, Sashco, Inc., DAP Products, Hodgson Sealants, and The 3M Company.
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