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cockpit coamings and rub rails. However, incompatibilities with common plastics like
acrylic and polycarbonate may impede the product growth in near future.
Asia-Pacific is the key regional market for marine sealant industry with the significant
developments witnessed in China, India and Japan. Asia-pacific is expected to maintain
its global dominance in marine sealant market in the near future on account of
increasing emphasis on ship-building, marine infrastructure development and naval
defense activities in the region.
The major players in marine sealant industry include Royal adhesive and sealant, 3M
Co., Bostik and Franklin International. Owing to highly volatile raw material prices, the
global marine sealant market price decisions are greatly shaped by the raw material
cost and supply equations. Thus, increased focus on R&D, mergers and acquisitions,
and joint-ventures are the fundamental strategies adopted by top players with a view to
streamline the operations and enhance the production efficiency.
Other crucial market players include Henkel AG & Company, Illinois Tool Works Inc,
Avery Dennison, H.B. Fuller, Sika AG and RPM International Inc. Greater emphasis on
developing sustainable, cost-effective and hardware-compatible products by the major
players is expected to effectively leverage the market growth over the forecast period.
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