Caulk Market Top Players, Global Trends, BusinessOpportunities, and Industry Forecast till 2023
“Rapid surge in the market is credited to the rising demand from building & construction industry and several industrial applications.�
The global caulk market is expected to display higher growth rate over the upcoming years. Rapid surge in the market is credited to the rising demand from building & construction industry and several industrial applications. Additionally, soaring demand for durable adhesive & sealants is expected to drive the growth of the market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of caulk market. In addition, rising number of repair activities involving fenestration and roofing, transportation, and DIY applications is anticipated to foster the growth of caulk market over the coming years. However, rising environmental concerns such as regarding excessive emission of volatile organic compounds (VOCs) is expected to restrain market development to a certain extent. Moreover, rise in number of stringent laws and regulations associated with the use of caulk products is limiting market growth, particularly among developed economies across the globe. Yet, development of eco-friendly products coupled with increasing approval rate is estimated to amplify market demand for caulk product in the upcoming years. Several manufacturers are developing water-based caulk products to pursue certification under the U.S. Green Building Council’s LEED program. These factors are expected to expand market reach for caulk industry in the near future. Growing demand for latex caulk is attributed to its unique properties and ease of use. Latex caulk is used on porous as well as nonporous exteriors. Removal of latex caulk require only soap and water.