Latest News- Seal Coat Market: Coal-tar based is expected to lead the Product Type segment during 2024-2028

The Seal Coat Market is being driven by Increasing need for infrastructure development and maintenance

The Seal Coat Market is expected to grow at a CAGR of 3.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 210.4 million. The environmental consciousness of businesses and consumers has led to a significant surge in the demand for eco-friendly and sustainable seal coat solutions. In response, companies have innovated water-based seal coats as a more sustainable alternative to traditional solvent-based products. These water-based seal coats are manufactured using natural ingredients, ensuring no harmful chemicals or pollutants are released into the environment. Additionally, they offer ease of application and cleanup, making them a preferred choice for both businesses and individuals seeking a more convenient and sustainable option. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Coal-tar based
  • Asphalt based
  • Acrylic polymer based
  • Others
• Application
  • Pavements
  • Refurbishments and repairs
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for infrastructure development and maintenance
• Rising urbanization trend
• Growing environmental concerns

However, the market also witnesses some limitations, which are as follows:

• Volatility of raw material prices
• Ban on coal tar-based seal coats in many regions
• Stringent regulatory restrictions

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Market Scope in Seal Coat Market Research Report

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Research Analysis Overview

The Seal Coat Market encompasses Coal Tar-based, Asphalt-based, and Acrylic-based protective coatings for Pavements and Repair, Refurbishment, and Commercial construction activities. These coatings, used in Pavement construction, shield against harmful intrusions such as Water, Oils, and Ultraviolet ray damage. Asphalt binders, including Coal Tar and Asphalt, extend the Lifespan of parking lots and Driveway construction. However, concerns over Polycyclic Aromatic Hydrocarbons (PAHs) in Coal Tar-based sealants and potential Cancer risks have led to the popularity of Asphalt- and Petroleum-based alternatives. Construction industry orders for these Capital assets emphasize the importance of proper sealing to protect against aging processes.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals used in the production of various products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue of these businesses. Factors fueling the market expansion include the increasing preference for specialized adhesives and sealants. In particular, the demand for coal tar, asphalt, acrylic-based seal coats for pavement repair, refurbishment, and commercial construction activities will significantly contribute to the market growth. However, concerns regarding the potential health hazards of asphalt binders containing polycyclic aromatic hydrocarbons (PAHs), which have been linked to cancer, may pose challenges to market participants.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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