Russia Sealants Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 387.75 Million |
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Market Size (2028) | USD 484.52 Million |
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Largest Share by End User Industry | Building and Construction |
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CAGR (2024 - 2028) | 5.73 % |
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Fastest Growing by End User Industry | Building and Construction |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Russia Sealants Market Analysis
The Russia Sealants Market size is estimated at 387.75 million USD in 2024, and is expected to reach 484.52 million USD by 2028, growing at a CAGR of 5.73% during the forecast period (2024-2028).
387.75 Million
Market Size in 2024 (USD)
484.52 Million
Market Size in 2028 (USD)
6.17 %
CAGR (2017-2023)
5.73 %
CAGR (2024-2028)
Largest Market by End-user Industry
72.98 %
value share, Building and Construction, 2023
In the Russian sealants market, building and construction is the major end-user industry segment owing to the wide range of sealant applications, including joint sealing, heat insulation, glazing, and façade.
Fastest Growing Market by End-user Industry
5.63 %
Projected CAGR, Building and Construction, 2024-2028
The aerospace industry is expected to be the fastest-growing end-user industry segment in the market owing to the rising demand for lightweight and high-strength components to substitute traditional aircraft joints.
Largest Market by Resin
41.23 %
value share, Silicone, 2023
Silicone sealant is the major resin-based sealant as it holds the largest application share in the building and construction industry for both interior and exterior applications.
Fastest Growing Market by Resin
5.99 %
Projected CAGR, Silicone, 2024-2028
Due to their sheer strength and high-impact resistance abilities, silicone sealants are mostly used in construction applications and are anticipated to witness the fastest growth during the forecast period.
Leading Market Player
7.07 %
market share, Soudal Holding N.V., 2021
Soudal Holding NV has been witnessing increasing volume sales in Russia due to the popularity of its products mostly in the building and construction industry.
The demand for sealants in Russia is driven by new construction
- The Russian sealants market is primarily driven by the construction industry, followed by other end-user industries due to the diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, and joint-sealing. Construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Russia fell by about 7% in 2020 due to the adverse impact of the COVID-19 pandemic and recovered to the pre-pandemic level only by the end of 2021. However, the industry's growth is likely to sustain in the near future owing to increasing construction investment and residential construction growth across the country.
- Various sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. Though the Russian electronics market previously registered less than a 1% share of the global market, it is expected to record a growth rate of over 9% annually in the consumer electronics segment, which will propel the sealants demand over the forecast period. Russia is one of the major manufacturers of locomotive engines around the world. A range of sealants applications in the locomotive and DIY industries for longevity and cost-effectiveness is expected to boost the demand for sealants by 2028.
- Sealants have diverse applications in the healthcare industry, such as assembling and sealing medical device parts. The Russian government has introduced several regulations for imported medical devices, which are likely to influence domestic production. Thus, such a trend is expected to augment the demand for medical-grade sealants over the coming years.
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Russia Sealants Market Trends
Increasing government investments in infrastructure and institutions including healthcare and education to lead the construction industry
- Construction is one of the major industries in the Russian economy which ranked 7th in the economy. The industry shares nearly 5% of the national GDP annually. However, the recent Russia-Ukraine war is expected to impact the country's economic growth, and industrial and construction projects are expected to be delayed due to the divergence of funds to the defense sector and currency devaluation. These factors are expected to impact the Russian construction industry.
- The construction industry output has reduced in 2020 due to the impact of Covid-19. The new floor area has been reduced by 100 million square footage in the same year compared to 2019. The shortage of raw materials, and labor, shut down of international borders for trade exchange, and a few others are the major reasons behind this reduction of construction output during the year in Russia.
- Residential construction is highly demanded in the country. These constructions share more than 60% of the new area built in Russia. Individual housing areas increased by 18.94% in 2021 from 39.8 million square meters in 2020.
- The President of Russia announced the construction of 13 new projects, ranging from education and healthcare to infrastructure development. The President has instructed the government to boost the country's economic growth above the world average by 2025. Thus, the Russian construction market is likely to register a 2% CAGR during the forecast period (2022-2028).
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Rising commercial vehicles production such as trucks propel the automotive production
- The automotive production market in Russia is not growing as it is majorly becoming an importer of passenger vehicles. Foreign companies hold the maximum share in the Russian automotive market as foreign manufacturers' shares accounted for 8.9 million units in 2020 compared to Russian manufacturers' 3.5 million units of passenger vehicles. This was due to geopolitical tensions in Russia in recent years.
- Minimal or null Y-o-Y growth is expected in 2022-2028, which is evident from the fact that car sales decreased by 78.5% Y-o-Y in 2022. Foreign players are leaving the Russian market because of socio-political reasons such as soaring financial sanctions by foreign countries on different resources in terms of exports and imports, growing interest rates by the Russian Federal Bank, and war conditions with the neighboring country Ukraine. Optimistically, there was an announcement made in March 2022 by the Russian Ministry of Industry and Trade to take the automaker CJSC Renault plant under government control to attempt the revival of the automotive industry, which can prevent the automotive market from going into huge losses during the forecast period 2022-2028.
- In the case of commercial vehicles, the production by Russian manufacturers is growing, with leading truck manufacturer Kamaz in Russia having increased the number of trucks produced from 5700 in Q1 of 2018 to 7400 in Q1 of 2021. This increase in the production of trucks is expected to contribute to the growth of the Russian automotive sector in the forecast period 2022-2028.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Despite the crisis from Western countries due to the Ukraine invasion, the Russian investments and aim to achieve 81% domestic manufacturing by 2030 boosts the aerospace demand
Russia Sealants Industry Overview
The Russia Sealants Market is fragmented, with the top five companies occupying 21.54%. The major players in this market are Arkema Group, Henkel AG & Co. KGaA, MAPEI S.p.A., Sika AG and Soudal Holding N.V. (sorted alphabetically).
Russia Sealants Market Leaders
Arkema Group
Henkel AG & Co. KGaA
MAPEI S.p.A.
Sika AG
Soudal Holding N.V.
Other important companies include Ascott Group, Dow, Kiilto, KLEBCHEMIE M. G. Becker GmbH & Co. KG, RUSTA LLC.
*Disclaimer: Major Players sorted in alphabetical order.
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Russia Sealants Market News
- June 2019: Soudal acquired Profflex, a Russia-based foam and sealant manufacturer, to strengthen its position in the Eastern European market.
- April 2019: Dow completed the separation of its Material Science division through a spin-off of Dow Inc.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Russia Sealants Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
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4.2 Regulatory Framework
- 4.2.1 Russia
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Healthcare
- 5.1.5 Other End-user Industries
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5.2 Resin
- 5.2.1 Acrylic
- 5.2.2 Epoxy
- 5.2.3 Polyurethane
- 5.2.4 Silicone
- 5.2.5 Other Resins
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Arkema Group
- 6.4.2 Ascott Group
- 6.4.3 Dow
- 6.4.4 Henkel AG & Co. KGaA
- 6.4.5 Kiilto
- 6.4.6 KLEBCHEMIE M. G. Becker GmbH & Co. KG
- 6.4.7 MAPEI S.p.A.
- 6.4.8 RUSTA LLC
- 6.4.9 Sika AG
- 6.4.10 Soudal Holding N.V.
7. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8. APPENDIX
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8.1 Global Adhesives and Sealants Industry Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Drivers, Restraints, and Opportunities
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, RUSSIA, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, RUSSIA, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, RUSSIA, 2017-2028
- Figure 4:
- VOLUME OF SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 5:
- VALUE OF SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 6:
- VOLUME OF SEALANTS CONSUMED BY END USER INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 7:
- VALUE OF SEALANTS CONSUMED BY END USER INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 8:
- VOLUME SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2016 VS 2022 VS 2028
- Figure 9:
- VALUE SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2016 VS 2022 VS 2028
- Figure 10:
- VOLUME OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 11:
- VALUE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 12:
- VALUE SHARE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY BY RESIN, %, RUSSIA, 2021 VS 2028
- Figure 13:
- VOLUME OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 14:
- VALUE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 15:
- VALUE SHARE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY BY RESIN, %, RUSSIA, 2021 VS 2028
- Figure 16:
- VOLUME OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 17:
- VALUE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 18:
- VALUE SHARE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY RESIN, %, RUSSIA, 2021 VS 2028
- Figure 19:
- VOLUME OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 20:
- VALUE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 21:
- VALUE SHARE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY BY RESIN, %, RUSSIA, 2021 VS 2028
- Figure 22:
- VOLUME OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 23:
- VALUE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, RUSSIA, 2017 - 2028
- Figure 24:
- VALUE SHARE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY RESIN, %, RUSSIA, 2021 VS 2028
- Figure 25:
- VOLUME OF SEALANTS CONSUMED BY RESIN, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 26:
- VALUE OF SEALANTS CONSUMED BY RESIN, USD, RUSSIA, 2017 - 2028
- Figure 27:
- VOLUME SHARE OF SEALANTS CONSUMED BY RESIN, %, RUSSIA, 2016 VS 2022 VS 2028
- Figure 28:
- VALUE SHARE OF SEALANTS CONSUMED BY RESIN, %, RUSSIA, 2016 VS 2022 VS 2028
- Figure 29:
- VOLUME OF ACRYLIC SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 30:
- VALUE OF ACRYLIC SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 31:
- VALUE SHARE OF ACRYLIC SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2021 VS 2028
- Figure 32:
- VOLUME OF EPOXY SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 33:
- VALUE OF EPOXY SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 34:
- VALUE SHARE OF EPOXY SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2021 VS 2028
- Figure 35:
- VOLUME OF POLYURETHANE SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 36:
- VALUE OF POLYURETHANE SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 37:
- VALUE SHARE OF POLYURETHANE SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2021 VS 2028
- Figure 38:
- VOLUME OF SILICONE SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 39:
- VALUE OF SILICONE SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 40:
- VALUE SHARE OF SILICONE SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2021 VS 2028
- Figure 41:
- VOLUME OF OTHER RESINS SEALANTS CONSUMED, KILOGRAM, RUSSIA, 2017 - 2028
- Figure 42:
- VALUE OF OTHER RESINS SEALANTS CONSUMED, USD, RUSSIA, 2017 - 2028
- Figure 43:
- VALUE SHARE OF OTHER RESINS SEALANTS CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2021 VS 2028
- Figure 44:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, RUSSIA, 2019 - 2021
- Figure 45:
- MOST ADOPTED STRATEGIES, COUNT, RUSSIA, 2019 - 2021
- Figure 46:
- REVENUE SHARE OF SEALANTS BY MAJOR PLAYERS, %, RUSSIA, 2021
Russia Sealants Industry Segmentation
Aerospace, Automotive, Building and Construction, Healthcare are covered as segments by End User Industry. Acrylic, Epoxy, Polyurethane, Silicone are covered as segments by Resin.
- The Russian sealants market is primarily driven by the construction industry, followed by other end-user industries due to the diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, and joint-sealing. Construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Russia fell by about 7% in 2020 due to the adverse impact of the COVID-19 pandemic and recovered to the pre-pandemic level only by the end of 2021. However, the industry's growth is likely to sustain in the near future owing to increasing construction investment and residential construction growth across the country.
- Various sealants are widely used in electronics and electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. Though the Russian electronics market previously registered less than a 1% share of the global market, it is expected to record a growth rate of over 9% annually in the consumer electronics segment, which will propel the sealants demand over the forecast period. Russia is one of the major manufacturers of locomotive engines around the world. A range of sealants applications in the locomotive and DIY industries for longevity and cost-effectiveness is expected to boost the demand for sealants by 2028.
- Sealants have diverse applications in the healthcare industry, such as assembling and sealing medical device parts. The Russian government has introduced several regulations for imported medical devices, which are likely to influence domestic production. Thus, such a trend is expected to augment the demand for medical-grade sealants over the coming years.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Healthcare | |
| Other End-user Industries | |
| Resin | Acrylic |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| Other Resins |
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Market Definition
- End-user Industry - Building & Construction, Automotive, Aerospace, Healthcare, and Others are the end-user industries considered under the sealants market.
- Product - All sealant products are considered in the market studied
- Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Silicone, and Others are considered
- Technology - For the purpose of this study, One component and Two component sealant technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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