Spain Sealants Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 164.00 Million |
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Market Size (2028) | USD 199.46 Million |
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Largest Share by End User Industry | Building and Construction |
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CAGR (2024 - 2028) | 5.01 % |
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Fastest Growing by End User Industry | Healthcare |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Spain Sealants Market Analysis
The Spain Sealants Market size is estimated at 164.00 million USD in 2024, and is expected to reach 199.46 million USD by 2028, growing at a CAGR of 5.01% during the forecast period (2024-2028).
164.00 Million
Market Size in 2024 (USD)
199.46 Million
Market Size in 2028 (USD)
5.67 %
CAGR (2017-2023)
5.01 %
CAGR (2024-2028)
Largest Market by End-user Industry
44.33 %
value share, Building and Construction, 2023
In Spain, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, heat insulation, glazing, façade, and others.
Fastest Growing Market by End-user Industry
5.39 %
Projected CAGR, Healthcare, 2024-2028
Due to the increasing healthcare expenditure and rising investment in tissue engineering and medical device production, the healthcare segment is projected to witness the fastest growth during the forecast period.
Largest Market by Resin
43.99 %
value share, Silicone, 2023
Silicone sealant is the major resin-based sealant owing to its largest application share in the building and construction industry for both interior and exterior applications.
Fastest Growing Market by Resin
5.15 %
Projected CAGR, Silicone, 2024-2028
Due to its sheer strength and high impact resistance and wide usage in building and construction and healthcare end-user, silicone sealant is likely to be the fastest-growing resin segment.
Leading Market Player
16.01 %
market share, Sika AG, 2021
Sika AG has been witnessing increasing volume sales in Spain. This growth can be attributed to the popularity of its products, mostly in the building and construction industry.
New construction and infrastructure development to lead the market growth
- The Spain sealants market is majorly driven by the construction industry, followed by other end-user industries due to diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Spain registered around 5.7% of the country’s GDP in 2019. During COVID-19, the construction output was reduced by 19.5% in 2020, sustained in 2021 owing to increasing construction investment and home maintenance activities in the country. Such trends will likely continue in the near future and gradually increase sealants demand.
- A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. The Spanish electronics market registered significant growth, mostly due to the growing popularity of wireless electronic devices and the rapid adoption of wearable gadgets. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, a range of applications of sealants in the locomotive and DIY industries will boost the demand for required sealants by 2028.
- Sealants have diverse applications in the healthcare and automotive industries. Sealants are used in healthcare applications, such as assembling and sealing medical device parts. The automotive industry exhibits significant applicability of sealants to various substrates, mostly used for engines and car gaskets. Spain has registered promising growth in these sectors in recent times and is likely to continue in the upcoming years. Thus, such a trend will augment the demand for sealants by 2028.
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Spain Sealants Market Trends
Investments including National Recovery and Resilience Plan (NRRP) worth EUR 1 billion for affordable housing to lead the construction industry
- The impact of the COVID-19 pandemic was huge on the Spanish construction sector. The construction industry pummeled and observed a decline of 9.6% in investments in the first three months of 2020. Construction activity output in the transport and hotel sector registered a decline of 11% in Q1 2020.
- To revive the construction market, the Spanish government introduced amendments to the State Housing Plan 2018-2021, including the program's extension until December 31, 2022. The country also receives financial support from the European Investment Bank (EIB) for developing and constructing social housing. The Spanish construction market was to rebound strongly in 2021 and grow about 24.9% in 2021. As of June 2021, the EIB signed an agreement to support Barcelona City Council in constructing nearly 490 new public rental homes with an investment of EUR 36.2 million.
- Under its 2021-2026 National Recovery and Resilience Plan (NRRP), the Spanish government allocated EUR 1 billion to construct affordable and energy-efficient rental housing. Thus, the construction market in the country is expected to register a 2% CAGR during the forecast period (2022-2028).
- The general outlook for the Spanish construction industry is favorable. Future industry growth is anticipated to be fueled by investments in public sector infrastructure, digitalization, energy-efficient housing renovations, and a green circular economy, all funded by the European Union.
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Increasing EVs demand and government investment of public and private e-mobility investments worth EUR 24 billion to boost the automotive demand
- Spain is the second-largest automobile producer in Europe, after Germany. Spanish automotive suppliers produced EUR 35,822 million worth of products in 2019, of which 60% were exported inside and outside the European region.
- Automobile production in the country has been almost constant in the past few years. In 2019, the country produced about 28,22,355 units, registering a meager growth rate of 0.1% over 2018. The country produced about 22,68,185 units of vehicles in 2020. Automotive vehicle production contracted by 18.6% in 2020 as the COVID-19 pandemic halted the supply chain.
- In the first three quarters of 2021, automotive production increased by 4% over Q1-Q3 of 2020 and reached 1,592,277 vehicles. The country's automotive industry is likely to witness moderate demand during the forecast period. However, in 2021, the country produced about 2,098,133 vehicles, which was a decline of 8% from 2020. The semiconductor chip shortage and supply chain restrictions negatively affected the production of automotive vehicle units in the country.
- The automotive production shortfalls have recently worsened, and a strong rebound is expected in 2022, with output increasing by 18%. The Spanish electric vehicles market should benefit from the Next Generation EU fund, which supports suppliers in their shift toward e-mobility. Additionally, the Spanish government has announced public and private e-mobility investments worth EUR 24 billion over the coming three years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing government investments including the Priority Project for Economic Recovery and Transformation (PERTE) leads the aerospace industry
Spain Sealants Industry Overview
The Spain Sealants Market is fragmented, with the top five companies occupying 35.13%. The major players in this market are Dow, Grupa Selena, Henkel AG & Co. KGaA, MAPEI S.p.A. and Sika AG (sorted alphabetically).
Spain Sealants Market Leaders
Dow
Grupa Selena
Henkel AG & Co. KGaA
MAPEI S.p.A.
Sika AG
Other important companies include 3M, Industrias Químicas del Adhesivo, S.A. - Quiadsa, QS Adhesives & Sealants SL, RPM International Inc., Soudal Holding N.V..
*Disclaimer: Major Players sorted in alphabetical order.
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Spain Sealants Market News
- 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.
Spain 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 Spain
- 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 3M
- 6.4.2 Dow
- 6.4.3 Grupa Selena
- 6.4.4 Henkel AG & Co. KGaA
- 6.4.5 Industrias Químicas del Adhesivo, S.A. - Quiadsa
- 6.4.6 MAPEI S.p.A.
- 6.4.7 QS Adhesives & Sealants SL
- 6.4.8 RPM International Inc.
- 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, SPAIN, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SPAIN, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SPAIN, 2017-2028
- Figure 4:
- VOLUME OF SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 5:
- VALUE OF SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 6:
- VOLUME OF SEALANTS CONSUMED BY END USER INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 7:
- VALUE OF SEALANTS CONSUMED BY END USER INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 8:
- VOLUME SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2016 VS 2022 VS 2028
- Figure 9:
- VALUE SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2016 VS 2022 VS 2028
- Figure 10:
- VOLUME OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 11:
- VALUE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 12:
- VALUE SHARE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 13:
- VOLUME OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 14:
- VALUE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 15:
- VALUE SHARE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 16:
- VOLUME OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 17:
- VALUE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 18:
- VALUE SHARE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 19:
- VOLUME OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 20:
- VALUE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 21:
- VALUE SHARE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 22:
- VOLUME OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 23:
- VALUE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 24:
- VALUE SHARE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 25:
- VOLUME OF SEALANTS CONSUMED BY RESIN, KILOGRAM, SPAIN, 2017 - 2028
- Figure 26:
- VALUE OF SEALANTS CONSUMED BY RESIN, USD, SPAIN, 2017 - 2028
- Figure 27:
- VOLUME SHARE OF SEALANTS CONSUMED BY RESIN, %, SPAIN, 2016 VS 2022 VS 2028
- Figure 28:
- VALUE SHARE OF SEALANTS CONSUMED BY RESIN, %, SPAIN, 2016 VS 2022 VS 2028
- Figure 29:
- VOLUME OF ACRYLIC SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 30:
- VALUE OF ACRYLIC SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 31:
- VALUE SHARE OF ACRYLIC SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 32:
- VOLUME OF EPOXY SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 33:
- VALUE OF EPOXY SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 34:
- VALUE SHARE OF EPOXY SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 35:
- VOLUME OF POLYURETHANE SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 36:
- VALUE OF POLYURETHANE SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 37:
- VALUE SHARE OF POLYURETHANE SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 38:
- VOLUME OF SILICONE SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 39:
- VALUE OF SILICONE SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 40:
- VALUE SHARE OF SILICONE SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 41:
- VOLUME OF OTHER RESINS SEALANTS CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 42:
- VALUE OF OTHER RESINS SEALANTS CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 43:
- VALUE SHARE OF OTHER RESINS SEALANTS CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 44:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SPAIN, 2019 - 2021
- Figure 45:
- MOST ADOPTED STRATEGIES, COUNT, SPAIN, 2019 - 2021
- Figure 46:
- REVENUE SHARE OF SEALANTS BY MAJOR PLAYERS, %, SPAIN, 2021
Spain 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 Spain sealants market is majorly driven by the construction industry, followed by other end-user industries due to diverse applications of sealants in building and construction activities such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing. Moreover, construction sealants are designed for longevity and ease of application on different substrates. The construction industry of Spain registered around 5.7% of the country’s GDP in 2019. During COVID-19, the construction output was reduced by 19.5% in 2020, sustained in 2021 owing to increasing construction investment and home maintenance activities in the country. Such trends will likely continue in the near future and gradually increase sealants demand.
- A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables, etc. The Spanish electronics market registered significant growth, mostly due to the growing popularity of wireless electronic devices and the rapid adoption of wearable gadgets. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, a range of applications of sealants in the locomotive and DIY industries will boost the demand for required sealants by 2028.
- Sealants have diverse applications in the healthcare and automotive industries. Sealants are used in healthcare applications, such as assembling and sealing medical device parts. The automotive industry exhibits significant applicability of sealants to various substrates, mostly used for engines and car gaskets. Spain has registered promising growth in these sectors in recent times and is likely to continue in the upcoming years. Thus, such a trend will augment the demand for sealants by 2028.
| 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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