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South Korea Sealants Market Size

The South Korea sealants market is projected to experience growth over the forecast period, driven by its significant presence in various end-user industries. The electronics and electrical equipment sector is anticipated to dominate the market share, utilizing sealants for applications such as potting and protecting sensors and cables. The construction industry also plays a crucial role, with sealants being essential for waterproofing and sealing in building activities. Additionally, the automotive and healthcare sectors are expected to contribute to the market's expansion due to the versatile bonding capabilities of sealants.

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Market Size of south korea sealants Industry

South Korea Sealants Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 244.93 Million
svg icon Market Size (2028) USD 295.71 Million
svg icon Largest Share by End User Industry Building and Construction
svg icon CAGR (2024 - 2028) 4.82 %
svg icon Fastest Growing by End User Industry Aerospace

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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South Korea Sealants Market Analysis

The South Korea Sealants Market size is estimated at 244.93 million USD in 2024, and is expected to reach 295.71 million USD by 2028, growing at a CAGR of 4.82% during the forecast period (2024-2028).

244.93 Million

Market Size in 2024 (USD)

295.71 Million

Market Size in 2028 (USD)

1.76 %

CAGR (2017-2023)

4.82 %

CAGR (2024-2028)

Largest Market by End-user Industry

27.82 %

value share, Building and Construction, 2023

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In South Korea, building and construction is the dominant end-user industry owing to its wide range of sealant applications, including joint sealing, weatherproofing, glazing, and façade.

Fastest Growing Market by End-user Industry

5.86 %

Projected CAGR, Aerospace, 2024-2028

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The aerospace industry is expected to witness the fastest growth owing to the rapid expansion of general aviation in the domestic market.

Largest Market by Resin

48.08 %

value share, Silicone, 2023

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Silicone sealant is the major resin-based sealant and accounts for the largest application share in the building and construction industry for both interior and exterior applications.

Fastest Growing Market by Resin

4.84 %

Projected CAGR, Silicone, 2024-2028

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Due to their sheer strength and high-impact resistance abilities, silicone sealants are mostly used in construction applications. They are expected to register the fastest growth over the coming years.

Leading Market Player

20.90 %

market share, KCC SILICONE CORPORATION, 2021

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KCC Corporation is the leading sealants manufacturer in Japan due to the popularity of its products, mostly in the building and construction industry.

Emerging healthcare industry and rising demand for advanced medical equipment are expected to boost the consumption of sealants in South Korea

  • The other end-user industries segment is anticipated to account for the highest market share in terms of value and volume in the South Korean sealants market over the forecast period, of which electronics and electrical equipment will hold the highest share. Various sealants are used in electrical equipment for potting and protecting applications. They are used for sealing sensors and cables, etc. South Korea registered nearly 4% of the revenue share in 2020 in the global electronics market and is likely to experience sustainable growth over the coming years owing to the increasing imports of electrical goods and components.
  • The construction industry accounts for the second highest share among the end-user industry segment of the South Korean sealants market as it is one of the fastest-growing industries in South Korea. Diverse applications of sealants in building and construction activities, such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing, are expected to augment the industry size. Construction sealants are designed for longevity and ease of application on different substrates. The South Korean construction sector registered 223 thousand construction permits in 2020 and this growth is likely to continue over the coming years.
  • Sealants are used in wide-ranging applications in the automotive and healthcare industry owing to their extensive bonding to various substrates, such as glass, metal, plastic, and painted surfaces, and their features such as extreme weather resistance, durability, and long-lasting. South Korea has a strong presence of parts and components manufacturers for automotive and medical devices, which is likely to boost the demand for sealants over the coming years.
South Korea Sealants Market

South Korea 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 other end-user industries segment is anticipated to account for the highest market share in terms of value and volume in the South Korean sealants market over the forecast period, of which electronics and electrical equipment will hold the highest share. Various sealants are used in electrical equipment for potting and protecting applications. They are used for sealing sensors and cables, etc. South Korea registered nearly 4% of the revenue share in 2020 in the global electronics market and is likely to experience sustainable growth over the coming years owing to the increasing imports of electrical goods and components.
  • The construction industry accounts for the second highest share among the end-user industry segment of the South Korean sealants market as it is one of the fastest-growing industries in South Korea. Diverse applications of sealants in building and construction activities, such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing, are expected to augment the industry size. Construction sealants are designed for longevity and ease of application on different substrates. The South Korean construction sector registered 223 thousand construction permits in 2020 and this growth is likely to continue over the coming years.
  • Sealants are used in wide-ranging applications in the automotive and healthcare industry owing to their extensive bonding to various substrates, such as glass, metal, plastic, and painted surfaces, and their features such as extreme weather resistance, durability, and long-lasting. South Korea has a strong presence of parts and components manufacturers for automotive and medical devices, which is likely to boost the demand for 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
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South Korea Sealants Market Size Summary

The South Korea sealants market is poised for steady growth, driven by its diverse applications across various industries. The electronics and electrical equipment sector is expected to dominate the market, leveraging sealants for potting and protection purposes in sensors and cables. The construction industry also plays a significant role, with sealants being essential for waterproofing, weather-sealing, and joint-sealing in building activities. Despite past challenges, such as economic slowdowns and the impact of the COVID-19 pandemic, government initiatives are anticipated to bolster the construction sector, thereby supporting the sealants market. Additionally, the automotive and healthcare industries contribute to the demand for sealants, given their need for durable bonding solutions across different substrates.

The market landscape is moderately consolidated, with key players like GSMOA, KCC SILICONE CORPORATION, OKONG Corp., Sika AG, and TOPSEAL holding significant shares. The automotive sector, despite facing production declines due to reduced sales and exports, is witnessing a shift towards electric vehicle production, which may enhance sealant demand. The South Korean market's growth is further supported by the country's focus on sustainability and electrification, particularly in the automotive industry. Overall, the South Korea sealants market is expected to experience a positive trajectory, driven by industrial demand and strategic market developments.

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South Korea Sealants Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Healthcare

      5. 1.1.5 Other End-user Industries

    2. 1.2 Resin

      1. 1.2.1 Acrylic

      2. 1.2.2 Epoxy

      3. 1.2.3 Polyurethane

      4. 1.2.4 Silicone

      5. 1.2.5 Other Resins

South Korea Sealants Market Size FAQs

The South Korea Sealants Market size is expected to reach USD 244.93 million in 2024 and grow at a CAGR of 4.82% to reach USD 295.71 million by 2028.

In 2024, the South Korea Sealants Market size is expected to reach USD 244.93 million.

South Korea Sealants Market Report Snapshots

South Korea Sealants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028