Research analysts at Transparency Market Research predict that the North America sealers market will grow to reach the evaluation of US$ 716.2 million at the end of the forecast period in 2027, rising from the recent industry evaluation of US$ 465.5 million in 2018. They also project that the North America sealers market will expand at a steady CAGR of 4.9% during the forecast period of 2019 to 2027. Rising demand for construction of parking lots and drive ways, along with increasing utilization of acrylic sealers is anticipated to favor the upward trajectory of the North America sealers market in coming years.
Another major driver for the North America sealers market is rising demand for construction activities as well as composites joints in the region. On the other hand, strict regulations imploring the usage of VOC or volatile organic compound free contents may restrict the development of the North America sealers market in coming years.
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Restrictions on Coal Tar Based Sealers Fuel Demand for Acrylic Sealers in North America Sealers Market
Segments in the North America sealers market include acrylic, coal tar, asphalt, and bitumen. Asphalt and bitumen based sealers dominated the North America sealers market in 2018. Furthermore, increasing bans and restrictions on usage of coal tar based sealers, competitive pricing, and enhanced performance offered by asphalt based sealers is anticipated to result in high uptake of bitumen and asphalt based sealers in the North America sealers market during the forecast period of 2019 to 2027.
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Acrylic sealers segment in the North America sealers market is also expected to expand at a momentous rate over the forecast period, owing to their superior quality along with high permeation in the decorative concrete applications in construction industry.
Segments based by the application in the North America sealers market include pavement and blocks and drive way and parking lots. Other applications for the products offered by players in the North America sealers market include race tracks, sports arenas, industrial construction, and airports. Drive ways and parking lots was one of the leading segments in the North America sealers market in 2018. Usage of products in the North America sealers market in drive ways and parking lots provide protection of construction against water, external agents, and lubricant damage. However, pavements and clocks is anticipated to emerge as the dominant segment in the North America sealers market over the forecast period i.e. 2019 to 2027.
United States Dominates the North America Sealers Market
Countries covered in the report on North America sealers market include United States, Mexico, and Canada. The United States held the dominant position in the North America sealers market in 2018 in terms of volume.
Rising awareness regarding the poly-cyclic-aromatic hydrocarbons or PAH emissions from the coal tar based sealers has caused numerous states in the United States to enforce stringent ban on usage of coal tar based sealers. This has created new opportunities for players to invest in bitumen and asphalt or acrylic based sealers. Acrylic segment is anticipated to expand at a rapid pace in North America sealers market, particularly in the United States over the forecast period. Canada amounted to a remarkable share in the North America sealers market as well. The nation is anticipated to witness healthy growth in the coming years owing to rising application of bitumen and asphalt, along with coal tar based sealers in the North America sealers market.
Major incumbent players operating within the North America sealers market include Bonsal American, Inc., Asphalt Coatings Engineering, Inc., The Brewer Company, Vance Brothers, Neyra Industries, Inc., Fahrner Asphalt Sealers LLC, RaynGaurd, SealMaster, and GemSeal pavement Pro. Some of the key strategies applied by the players in the North America sealers market include collaborations, mergers and acquisitions, and new product launches.
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