Market Size of russia sealants Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2028 |
|
Market Size (2024) | USD 387.75 Million |
|
|
Market Size (2028) | USD 484.52 Million |
|
Largest Share by End User Industry | Building and Construction |
|
|
CAGR (2024 - 2028) | 5.73 % |
|
|
Fastest Growing by End User Industry | Building and Construction |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Russia Sealants Market Analysis
The Russia Sealants Market size is estimated at 387.75 million USD in 2024, and is expected to reach 484.52 million USD by 2028, growing at a CAGR of 5.73% during the forecast period (2024-2028).
387.75 Million
Market Size in 2024 (USD)
484.52 Million
Market Size in 2028 (USD)
6.17 %
CAGR (2017-2023)
5.73 %
CAGR (2024-2028)
Largest Market by End-user Industry
72.98 %
value share, Building and Construction, 2023
In the Russian sealants market, building and construction is the major end-user industry segment owing to the wide range of sealant applications, including joint sealing, heat insulation, glazing, and façade.
Fastest Growing Market by End-user Industry
5.63 %
Projected CAGR, Building and Construction, 2024-2028
The aerospace industry is expected to be the fastest-growing end-user industry segment in the market owing to the rising demand for lightweight and high-strength components to substitute traditional aircraft joints.
Largest Market by Resin
41.23 %
value share, Silicone, 2023
Silicone sealant is the major resin-based sealant as it holds the largest application share in the building and construction industry for both interior and exterior applications.
Fastest Growing Market by Resin
5.99 %
Projected CAGR, Silicone, 2024-2028
Due to their sheer strength and high-impact resistance abilities, silicone sealants are mostly used in construction applications and are anticipated to witness the fastest growth during the forecast period.
Leading Market Player
7.07 %
market share, Soudal Holding N.V., 2021
Soudal Holding NV has been witnessing increasing volume sales in Russia due to the popularity of its products mostly in the building and construction industry.
The demand for sealants in Russia is driven by new construction
- The Russian sealants market is primarily driven by the construction industry, followed by other end-user industries due to the diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, and joint-sealing. Construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Russia fell by about 7% in 2020 due to the adverse impact of the COVID-19 pandemic and recovered to the pre-pandemic level only by the end of 2021. However, the industry's growth is likely to sustain in the near future owing to increasing construction investment and residential construction growth across the country.
- Various sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. Though the Russian electronics market previously registered less than a 1% share of the global market, it is expected to record a growth rate of over 9% annually in the consumer electronics segment, which will propel the sealants demand over the forecast period. Russia is one of the major manufacturers of locomotive engines around the world. A range of sealants applications in the locomotive and DIY industries for longevity and cost-effectiveness is expected to boost the demand for sealants by 2028.
- Sealants have diverse applications in the healthcare industry, such as assembling and sealing medical device parts. The Russian government has introduced several regulations for imported medical devices, which are likely to influence domestic production. Thus, such a trend is expected to augment the demand for medical-grade sealants over the coming years.
Understand The Key Trends Shaping This Market
Russia Sealants Industry Segmentation
Aerospace, Automotive, Building and Construction, Healthcare are covered as segments by End User Industry. Acrylic, Epoxy, Polyurethane, Silicone are covered as segments by Resin.
- The Russian sealants market is primarily driven by the construction industry, followed by other end-user industries due to the diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, and joint-sealing. Construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Russia fell by about 7% in 2020 due to the adverse impact of the COVID-19 pandemic and recovered to the pre-pandemic level only by the end of 2021. However, the industry's growth is likely to sustain in the near future owing to increasing construction investment and residential construction growth across the country.
- Various sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. Though the Russian electronics market previously registered less than a 1% share of the global market, it is expected to record a growth rate of over 9% annually in the consumer electronics segment, which will propel the sealants demand over the forecast period. Russia is one of the major manufacturers of locomotive engines around the world. A range of sealants applications in the locomotive and DIY industries for longevity and cost-effectiveness is expected to boost the demand for sealants by 2028.
- Sealants have diverse applications in the healthcare industry, such as assembling and sealing medical device parts. The Russian government has introduced several regulations for imported medical devices, which are likely to influence domestic production. Thus, such a trend is expected to augment the demand for medical-grade sealants over the coming years.
| End User Industry | |
| Aerospace | |
| Automotive | |
| Building and Construction | |
| Healthcare | |
| Other End-user Industries |
| Resin | |
| Acrylic | |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| Other Resins |
Need A Different Region Or Segment?
Russia Sealants Market Size Summary
The Russian sealants market is experiencing growth driven primarily by the construction industry, which is a significant sector in the country's economy. Sealants are essential in various construction activities, including waterproofing, weather-sealing, and joint-sealing, due to their durability and ease of application on different substrates. Despite challenges such as the COVID-19 pandemic and geopolitical tensions, the construction industry has shown resilience and is expected to continue expanding, supported by increased investments and residential construction projects. Additionally, the demand for sealants is bolstered by their applications in the electronics and electrical equipment manufacturing sectors, as well as in the locomotive and DIY industries. The healthcare sector also presents opportunities for growth, with the need for medical-grade sealants expected to rise due to regulatory changes influencing domestic production.
The market landscape is characterized by fragmentation, with several key players holding significant shares. Companies like Arkema Group, Henkel AG & Co. KGaA, MAPEI S.p.A., Sika AG, and Soudal Holding N.V. are prominent in the market. Strategic acquisitions, such as Soudal's acquisition of Profflex, highlight efforts to strengthen positions in the Eastern European market. While the automotive sector faces challenges, particularly with foreign companies exiting due to socio-political issues, there are signs of growth in commercial vehicle production, which may positively impact the sealants market. Overall, the Russian sealants market is poised for steady growth, driven by diverse applications across various industries, despite the economic and political challenges the country faces.
Russia Sealants Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
-
1.1 End User Industry
-
1.1.1 Aerospace
-
1.1.2 Automotive
-
1.1.3 Building and Construction
-
1.1.4 Healthcare
-
1.1.5 Other End-user Industries
-
-
1.2 Resin
-
1.2.1 Acrylic
-
1.2.2 Epoxy
-
1.2.3 Polyurethane
-
1.2.4 Silicone
-
1.2.5 Other Resins
-
-
Russia Sealants Market Size FAQs
How big is the Russia Sealants Market?
The Russia Sealants Market size is expected to reach USD 387.75 million in 2024 and grow at a CAGR of 5.73% to reach USD 484.52 million by 2028.
What is the current Russia Sealants Market size?
In 2024, the Russia Sealants Market size is expected to reach USD 387.75 million.
