Caulk Market to Grow at a CAGR of Approximately 7.2%

Caulk is a sort of filler material used to create waterproof seal to fill leakages in construction or pipelines. It is used in numerous applications such as filling gaps or cracks in doors, windows, concrete, gutter, plumbing and pipes, and roofing. The current use of caulk material is to fill gaps in constructions for protects against dust, insects, and water. Caulking provides advantages such as reduction in noise transmission, thermal insulation, and others. The global Caulk market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 7.2%.

On the basis of different forms, the caulk market is categorized as latex caulk and silicone caulk. Silicone caulk is suited for non-porous surfaces. Another benefit of using silicone caulk is that it is long-lasting in ambient temperature applications. In this segment, latex caulk accounts for the largest share in the global caulk market. The latex caulk has advantages such as ease of application and replacement. It can be cleaned easily by water or soap. The non-applicability of latex caulk in ambient temperature is expected to impede the market for latex caulk.

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According to the type of caulk, the global caulk market is divided into polyvinyl acetate, acrylic latex, silicon, butyl, polyurethane, polymer, and others. Among these, acrylic caulk is used in kitchen and bathroom applications. Silicone and polyurethane caulks are used in concrete material applications, while butyl rubber is applied on gutter and outdoor applications. Based on the end-use, the market has been segmented into residential and commercial.

Geographically, North America is holding a dominating position in the global caulk market. On the basis of consumption, the Asia-Pacific holds the largest share due to the increasing investment in end-use industries, i.e., the automotive and construction sector. Europe is also holding a significant share in the caulk market. The manufacturers are focusing more on bio-based caulk that emits less or minimum volatile organic compounds (VOC). Latin America and Middle East & Africa regions are also growing at a moderate pace due to renovation activities in the construction sector.

Key players of the global caulk market are, 3M (USA), Bostik (USA), H.B. Fuller Company (USA), DuPont (USA), GE (USA), Henkel (Germany), Franklin International (USA), Red Devil (USA), Wacker Chemie AG (Germany), Sherwin-Williams (USA), DAP (USA), amongst others. The global caulk market is fragmented as there are a large number of caulk companies across the globe.

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