Japan Sealants Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2028 |
|
Market Size (2024) | USD 625.48 Million |
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|
Market Size (2028) | USD 752.56 Million |
|
Largest Share by End User Industry | Building and Construction |
|
|
CAGR (2024 - 2028) | 4.73 % |
|
|
Fastest Growing by End User Industry | Aerospace |
Major Players |
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|
||
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*Disclaimer: Major Players sorted in alphabetical order. |
Japan Sealants Market Analysis
The Japan Sealants Market size is estimated at 625.48 million USD in 2024, and is expected to reach 752.56 million USD by 2028, growing at a CAGR of 4.73% during the forecast period (2024-2028).
625.48 Million
Market Size in 2024 (USD)
752.56 Million
Market Size in 2028 (USD)
3.81 %
CAGR (2017-2023)
4.73 %
CAGR (2024-2028)
Largest Market by End-user Industry
53.71 %
value share, Building and Construction, 2023
In Japan, building and construction is the dominant end-user industry owing to the wide range of sealant applications, including joint sealing, insulation, curtain wall, glazing, façade, and others.
Fastest Growing Market by End-user Industry
5.97 %
Projected CAGR, Aerospace, 2024-2028
The aerospace industry is expected to witness the fastest growth in the market owing to the rapid expansion of general aviation for the domestic market.
Largest Market by Resin
44.44 %
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
4.86 %
Projected CAGR, Silicone, 2024-2028
Due to sheer strength and high impact resistance abilities, silicone sealants are mostly used in construction applications, thus, expected to be the fastest-growing resin in the market.
Leading Market Player
10.48 %
market share, Sika AG, 2021
Sika AG has been witnessing increasing volume sales in Japan. This increase can be attributed to the popularity of its products, mostly in the building and construction industry.
Emerging automotive market and building & construction industry are expected to boost the consumption of sealants in Japan
- The construction industry holds the major share in the Japanese sealants market, 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 Japanese construction sector achieved about 5.3% of the nation’s GDP in 2019 and is likely to register considerable growth in the upcoming years. The Japanese government focuses on the quality of buildings and promotes sustainable development, which will likely proliferate sealants demand over the forecast period.
- A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables. The Japanese electronics market registered nearly 6% of revenue share in 2021 and is likely to have promising growth in the upcoming years owing to the rapid adoption of consumer electronics among the high and middle-income groups. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, Japan has well-established facilities to produce locomotive engines around the world will drive the demand for required sealants by 2028.
- Sealants are used in diverse applications in the automotive industry, mostly used for engines and car gaskets, and exhibit extensive bonding to various substrates. Japan has been marked as one of the leading producers in the automotive industry over the years due to extensive production facilities and the strong presence of major carmakers, which is likely to create demand for sealants in the coming years.
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Japan Sealants Market Trends
Rising commercial and infrastructure projects to lead the construction industry
- The construction sector in the country is expected to record moderate growth over the next five years, owing to the increasing investments in public and private infrastructure and commercial projects. The Japanese construction adhesives and sealants market is projected to record a CAGR of about 2.89% in volume and 5.35% in value during the forecast period 2022 to 2028.
- Japan is a major area in the field of skyscrapers and high-rise buildings, making it a significant market for consumption. The country hosts various high-rise buildings (nearly 290), with Tokyo being a major hub for such buildings. The planning and construction of such buildings are witnessing decent growth in Japan in the short term. Some construction projects include two high-rise towers for Tokyo Stations, a 37-story and 230 m tall office tower, and a 61-story and 390 m tall office tower, due for completion in 2027. One of the most significant redevelopment projects includes the Yaesu redevelopments project for old buildings to new offices, hotels, residential, retail, and educational facilities, which are due to be completed by 2023.
- In Japan, major construction companies, such as Shimizu, Kajima, Obayashi, Taisei, and Daiwa House, suspended construction work. Although the government has begun to ease its measures to combat the COVID-19 pandemic, it is difficult to predict to what extent work will return to normal. In recent years, before the COVID-19 pandemic, the number and volume of construction and infrastructure projects in Japan had been increasing. As Japan recovers from the pandemic, construction and infrastructure projects should also re-commence. These factors are expected to lead to an increase in the demand for adhesives and sealants.
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In addition to being home to renowned automotive manufacturers including Toyota, Honda, and Nissan, the demand for EVs is rising the automotive industry
- Japan is home to the world's largest automotive companies, such as Toyota, Honda, and Nissan, of which Toyota is the world's second-largest company in terms of market capitalization. Toyota's sales revenue showed a 15% Y-o-Y growth in the fiscal year ending March 2022, suggesting an increasing trend of automotive market growth in Japan. Passenger vehicle sales in Japan are expected to reach 3951.71 thousand units by 2027.
- Due to the impact of the COVID-19 pandemic, the sales of automobiles reduced drastically because of nationwide lockdowns, overall economic slowdown, decreased exports, supply chain disruptions, etc. These factors led to a decrease in the sales volume of automobiles in 2020 as passenger car sales fell from 3997 thousand in 2019 to 3841 thousand in 2020.
- Japan witnessed a decrease in automotive market revenue in 2021 compared to 2020 because of the increasing awareness of environmental concerns and increased use of public transport in the cities of Japan. The government is also supporting the cause by making public transport more efficient than before. The railways cover nearly 72% of the public transportation system in Japan.
- Japan witnessed peak sales of electric vehicles in 2017 because of the launch of new plug-in hybrid vehicles, which appealed to consumers. The electric vehicles segment of the automotive industry is expected to record a CAGR of 24.39% in 2022-2027. The number of electric vehicles sold in Japan is expected to be 165.5 thousand by 2027. This will lead to an increase in the overall revenue of the automotive industry in Japan.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Spacecraft and defense aircraft activities to boost the aerospace sector in Japan
Japan Sealants Industry Overview
The Japan Sealants Market is fragmented, with the top five companies occupying 26.31%. The major players in this market are 3M, Shin-Etsu Chemical Co., Ltd., Sika AG, THE YOKOHAMA RUBBER CO., LTD. and ThreeBond Holdings Co., Ltd. (sorted alphabetically).
Japan Sealants Market Leaders
3M
Shin-Etsu Chemical Co., Ltd.
Sika AG
THE YOKOHAMA RUBBER CO., LTD.
ThreeBond Holdings Co., Ltd.
Other important companies include Arkema Group, CEMEDINE Co.,Ltd., Henkel AG & Co. KGaA, SEKISUI FULLER, SHARP CHEMICAL IND. CO.,LTD..
*Disclaimer: Major Players sorted in alphabetical order.
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Japan Sealants Market News
- November 2021: The Yokohama Rubber Co. Ltd divested its Hamatite adhesives and sealants business, bought by Sika AG.
- April 2021: Sika AG signed an agreement to acquire The Yokohama Rubber Co. Ltd's adhesives division, Hamatite, based in Japan. Hamatite offers polyurethanes, hot melts, and modified silicones technology adhesives and sealants for the automotive and construction industries.
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.
Japan Sealants Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. End User Trends
2.1.1. Aerospace
2.1.2. Automotive
2.1.3. Building and Construction
2.2. Regulatory Framework
2.2.1. Japan
2.3. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
3.1. End User Industry
3.1.1. Aerospace
3.1.2. Automotive
3.1.3. Building and Construction
3.1.4. Healthcare
3.1.5. Other End-user Industries
3.2. Resin
3.2.1. Acrylic
3.2.2. Epoxy
3.2.3. Polyurethane
3.2.4. Silicone
3.2.5. Other Resins
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. 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).
4.4.1. 3M
4.4.2. Arkema Group
4.4.3. CEMEDINE Co.,Ltd.
4.4.4. Henkel AG & Co. KGaA
4.4.5. SEKISUI FULLER
4.4.6. SHARP CHEMICAL IND. CO.,LTD.
4.4.7. Shin-Etsu Chemical Co., Ltd.
4.4.8. Sika AG
4.4.9. THE YOKOHAMA RUBBER CO., LTD.
4.4.10. ThreeBond Holdings Co., Ltd.
5. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
6. APPENDIX
6.1. Global Adhesives and Sealants Industry Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework (Industry Attractiveness Analysis)
6.1.3. Global Value Chain Analysis
6.1.4. Drivers, Restraints, and Opportunities
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, JAPAN, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, JAPAN, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, JAPAN, 2017-2028
- Figure 4:
- VOLUME OF SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 5:
- VALUE OF SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 6:
- VOLUME OF SEALANTS CONSUMED BY END USER INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 7:
- VALUE OF SEALANTS CONSUMED BY END USER INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 8:
- VOLUME SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2016 VS 2022 VS 2028
- Figure 9:
- VALUE SHARE OF SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2016 VS 2022 VS 2028
- Figure 10:
- VOLUME OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 11:
- VALUE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 12:
- VALUE SHARE OF SEALANTS CONSUMED IN AEROSPACE INDUSTRY BY RESIN, %, JAPAN, 2021 VS 2028
- Figure 13:
- VOLUME OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 14:
- VALUE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 15:
- VALUE SHARE OF SEALANTS CONSUMED IN AUTOMOTIVE INDUSTRY BY RESIN, %, JAPAN, 2021 VS 2028
- Figure 16:
- VOLUME OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 17:
- VALUE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 18:
- VALUE SHARE OF SEALANTS CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY RESIN, %, JAPAN, 2021 VS 2028
- Figure 19:
- VOLUME OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 20:
- VALUE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 21:
- VALUE SHARE OF SEALANTS CONSUMED IN HEALTHCARE INDUSTRY BY RESIN, %, JAPAN, 2021 VS 2028
- Figure 22:
- VOLUME OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, JAPAN, 2017 - 2028
- Figure 23:
- VALUE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, JAPAN, 2017 - 2028
- Figure 24:
- VALUE SHARE OF SEALANTS CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY RESIN, %, JAPAN, 2021 VS 2028
- Figure 25:
- VOLUME OF SEALANTS CONSUMED BY RESIN, KILOGRAM, JAPAN, 2017 - 2028
- Figure 26:
- VALUE OF SEALANTS CONSUMED BY RESIN, USD, JAPAN, 2017 - 2028
- Figure 27:
- VOLUME SHARE OF SEALANTS CONSUMED BY RESIN, %, JAPAN, 2016 VS 2022 VS 2028
- Figure 28:
- VALUE SHARE OF SEALANTS CONSUMED BY RESIN, %, JAPAN, 2016 VS 2022 VS 2028
- Figure 29:
- VOLUME OF ACRYLIC SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 30:
- VALUE OF ACRYLIC SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 31:
- VALUE SHARE OF ACRYLIC SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 32:
- VOLUME OF EPOXY SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 33:
- VALUE OF EPOXY SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 34:
- VALUE SHARE OF EPOXY SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 35:
- VOLUME OF POLYURETHANE SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 36:
- VALUE OF POLYURETHANE SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 37:
- VALUE SHARE OF POLYURETHANE SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 38:
- VOLUME OF SILICONE SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 39:
- VALUE OF SILICONE SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 40:
- VALUE SHARE OF SILICONE SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 41:
- VOLUME OF OTHER RESINS SEALANTS CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 42:
- VALUE OF OTHER RESINS SEALANTS CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 43:
- VALUE SHARE OF OTHER RESINS SEALANTS CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 44:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, JAPAN, 2019 - 2021
- Figure 45:
- MOST ADOPTED STRATEGIES, COUNT, JAPAN, 2019 - 2021
- Figure 46:
- REVENUE SHARE OF SEALANTS BY MAJOR PLAYERS, %, JAPAN, 2021
Japan 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 construction industry holds the major share in the Japanese sealants market, 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 Japanese construction sector achieved about 5.3% of the nation’s GDP in 2019 and is likely to register considerable growth in the upcoming years. The Japanese government focuses on the quality of buildings and promotes sustainable development, which will likely proliferate sealants demand over the forecast period.
- A variety of sealants are used in electrical equipment manufacturing for potting and protecting applications. They are used for sealing sensors and cables. The Japanese electronics market registered nearly 6% of revenue share in 2021 and is likely to have promising growth in the upcoming years owing to the rapid adoption of consumer electronics among the high and middle-income groups. This, in terms, will foster the demand for sealants in the other end-user segment. Moreover, Japan has well-established facilities to produce locomotive engines around the world will drive the demand for required sealants by 2028.
- Sealants are used in diverse applications in the automotive industry, mostly used for engines and car gaskets, and exhibit extensive bonding to various substrates. Japan has been marked as one of the leading producers in the automotive industry over the years due to extensive production facilities and the strong presence of major carmakers, which is likely to create demand for sealants in 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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