Thread Sealant Market Size, Share, Growth, and Industry Growth, By Type (PTFE, Haste and Paste, Sealing Cord, And Others), By Application (Industrial and Sanitary), Regional Forecast By 2031

Updated On: 15 April 2024

Thread Sealant Market REPORT OVERVIEW

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The global thread sealant market size was USD 1294.7 million in 2022, as per our research, the market is projected to touch USD 1,959.46 million in 2031, exhibiting a CAGR of 4.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with thread sealant experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A compound used to fill the gaps between fitting connections, and threaded pipe is called a thread sealant. These sealants prevent the leakage of gases and fluids. It can also lubricate the thread and give a quicker and easier assembly process. For safety and functionality, it is crucial to select the thread adhesive that is most suited to your application. It is effective on metals and quickly cures in plastic and wood at room temperature. These adhesives can only cure in the absence of oxygen and air. They are considered less dangerous than other polymers and have an unobtrusive, moderate odour. These sealants have few uses and are still considered one of the most important adhesives for metal bonding. These adhesives are divided into PTFE, sealing cord, haste and paste, and others based on the type.

Choosing the thread sealant that is most suited to your application is essential for both safety and functionality. These adhesives work well on metals and work swiftly in wood and plastic at room temperature. Only in the absence of oxygen and air can these adhesives fully cure. They are believed to be less hazardous than other polymers and have a mild, inconspicuous odour.

COVID-19 Impact: Growth Was Impacted By Declining Production and Product Demand

The construction, manufacturing, accommodation, and automotive industries were all significantly impacted by the COVID-19 pandemic. Production stopped or was significantly limited. Both the supply chains and the actual transportation and construction industries were hampered. The market's growth was constrained due to the fall in industrial brake production and demand. On the other hand, businesses are slowly beginning to resume their normal manufacturing and service operations.

LATEST TRENDS

"Expansion of the Automotive Industry to Augment Market Growth"

Epoxy-based structural adhesives that are used to glue automotive components together help to absorb significant impact energy at various variable temperatures. Additionally, crash tests are routinely used in the car industry to guarantee passenger safety. It has been demonstrated that structural adhesives improve the crashworthiness of cars and other passenger vehicles. The enhanced strength, flexibility, and curing properties of structural adhesives are further benefits. These are the main drivers of market growth for structural adhesives. These factors are estimated to propel the thread sealant market growth. The expanding building and construction industry has introduced new building materials, including synthetic raw materials for decorative uses, glass, and insulating foams. Structural adhesives are used to provide these materials with effective adherence since they have improved performance and an easier application technique. Additionally, the automotive industry has numerous additional uses for structural adhesives. 

Thread Sealant Market Segmentation

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• By Type Analysis

By type, the market is segmented into PTFE, haste and paste, sealing cord, and others.

• By Application Analysis

Based on application, the market is classified into industrial and sanitary.

DRIVING FACTORS

"Rising Per Capita Income to Increase the Adoption of Cars, Which Ultimately Boosts Product Demand"

The thread sealant market growth is expected to be driven by the creation of light commercial vehicles, modern passenger cars, and brand-new aircraft that use a lot of composite materials. More weightless materials with high-performance advantages being used in cars are projected to drive the market. Despite intense competition from substitute materials, demand for adhesives and composites is rising, especially in applications that require weight savings, high performance, and other benefits like fuel efficiency. Depending on the type or grade of thread sealant, a variety of polymers are used in the preparation of the glue. The price of petrochemicals affects the cost of polymers and additives, which are the main raw ingredients used to make structural adhesives. The primary obstacle to expanding the worldwide market is the expected to shift in the price of petrochemicals.

"Product Applications in Various Industries to Augment Market Growth"

Thread sealants are also used to bond the body panels of trucks and buses. These sealants are widely used in industrial applications that include machinery base plates, reaction-injecting molding plates, ultracentrifuge, industrial camps, and cooling water pumps. These factors are likely to elevate the market growth.

RESTRAINING FACTORS

"Fluctuation in Price of Raw Materials to Retard Market"

The price of raw materials and low product availability is predicted to impede the thread sealant market growth. The fluctuation in raw materials price

Thread Sealant Market REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market Due to the Growing Demand for Advanced Adhesives"

Asia Pacific is likely to hold a leading part of the thread sealant market share owing to the rising demand for technologically advanced automobile productions and consumer electronics in China. Additionally, the manufacturing hubs relocation owing to the accessibility of cost-effective labor and raw material in India, China, Thailand, and Indonesia are estimated to increase the market growth.

North America is predicted to follow Asia Pacific due to the growing demand for metal adhesives. The product demand is rising due to the expansion of the automotive sector.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Gaining Collaborations and Partnerships to Expand "

Important market developments and inorganic and organic growth strategies are included in the studies. Many businesses are focusing on organic business growth, including product launches, product approvals, and other initiatives like patents and events. The market's inorganic growth tactics included acquisitions, partnerships, and collaborations. Market participants now have more opportunities to grow their clientele and businesses thanks to the efforts above. Industry participants in the market should soon benefit from significant growth prospects due to the expanding demand for filter products on the global market.

List of Market Players Profiled

• 3M Company (U.S.)
• Deacon Industries (U.S.)
• Hb Fuller Company (U.S.)
• Henkel Ag & Company (Germany)
• KGaA (Germany)
• La-Co Industries (U.S.)
• Permatex (U.S.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.