Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Seal Coat Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Global Seal Coat Market is estimated to reach USD 1.71 billion by 2028, growing at a CAGR of 3.82% during the forecast period (2023-2028). The market's size is projected to be USD 1.42 billion in 2023.
Impact of COVID-19 on Seal Coat Market
The COVID-19 pandemic disrupted the global seal coat market. The construction industry faced challenges due to raw material shortages, labor shortages, and disruptions in the supply chain. However, the post-pandemic resurgence in the construction sector is expected to drive seal coat consumption.
Market Drivers and Challenges
- Driving Factors: Factors such as increasing commercial construction, pavement construction, industrialization, and urbanization are propelling the global seal coat market. Rising refurbishment and repair activities in developed and developing countries also present growth opportunities.
- Challenges: Strict environmental regulations and health risks associated with polycyclic aromatic hydrocarbons (PAHs), which can cause cancer, along with bans on coal tar-based seal coats in various regions, might hinder market growth.
Rising Demand from Driveways and Parking Lots
Seal coatings play a vital role in enhancing the longevity of driveways and parking lots. They protect against asphalt binder deterioration, block harmful elements like water and oils, and provide a slip-resistant surface. The aesthetic appeal of seal coatings, with their deep black finish, adds visual appeal to parking areas.
The construction of buildings, commercial institutions, and new malls in regions like North America and Europe is expected to drive the demand for seal coats. The increasing number of driveways and parking lots in various establishments fuels this growth.
The United States Dominating the North American Market
The United States holds a significant position in the North American seal coat market. The prevalence of asphalt pavements and the focus on preserving them contribute to this dominance. Numerous asphalt mix production sites operate in the US, and asphalt pavement material production is substantial.
Investments in airport improvement, commercial construction, and residential projects, along with a surge in nuclear families, are driving the need for seal coat applications. These factors collectively contribute to the growth of the seal coat market in North America.
Seal Coat Industry Overview
The seal coat market is fragmented, with several key players contributing to its growth. Companies like Seal Master, RaynGuard, Neyra, Star Seal Inc., and Crafco are some of the prominent players in the industry.
Overall, the global seal coat market is expected to evolve significantly due to rising construction activities, increased refurbishment, and a focus on infrastructure preservation.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increase in Pavement Construction
4.1.2 Growing Commercial Construction Activities
4.2 Restraints
4.2.1 Ban on Coal Tar-based Seal Coats in Many Regions
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Coal Tar-based
5.1.2 Asphalt-based
5.1.3 Acrylic-based
5.1.4 Other Product Types
5.2 Application
5.2.1 Pavements
5.2.1.1 Driveways and Parking Lots
5.2.1.2 Roadways and Walkways
5.2.1.3 Racetrack and Sports
5.2.2 Repair and Refurbishment
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Asphalt Coatings Engineering Inc.
6.4.2 Crafco Inc.
6.4.3 Fahrner Asphalt Sealers LLC
6.4.4 GemSeal Pavement Products
6.4.5 Go Green Lehong New Material Technology (Shanghai) Co. Ltd.
6.4.6 GoldStar Asphalt Products
6.4.7 GuardTop
6.4.8 Neyra
6.4.9 Raynguard
6.4.10 SealMaster
6.4.11 Star Seal Inc.
6.4.12 Vance Brothers Inc.
6.4.13 Western Colloid
6.4.14 Wolf Paving
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Refurbishment and Repairing Activities
For more information about this report visit https://www.researchandmarkets.com/r/ndw3i8
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Attachments
- Seal Coat Market Federal Public Expenditure On Highway Infrastructure In Euro Billion 2018 2022
- Seal Coat Market Seal Coat Market Growth Rate By Region Global 2023 2028
