The sealers market in North America offered an opportunity worth US$ 467 Mn in 2019. Expanding at a CAGR of 5% between 2020 and 2027, the market is projected to reach US$ 716 Mn by the end of the forecast period.
The demand for sealers is significantly high in driveways and parking lots. In 2019, this segment acquired nearly 81% of the overall market and is anticipated to remain on the top over the forthcoming years. Bitumen and asphalt-based sealers have been registering the most prominent demand and are expected to continue doing so in the near future, states the research report.
U.S. to Lead North America Sealers Market
In this research report, the geographical presence of the North America market for sealers has also been studied thoroughly. The U.S., Canada, and Mexico have been considered as the key domestic markets for sealers in this study. Among these, the U.S. occupied the leading position in 2019 with a share of around 85%. The increasing ban on coal tar sealers, thanks to the rising awareness pertaining to PAH (poly-cyclic aromatic hydrocarbons) emissions from coal tar sealers, is likely to support the U.S. market for sealers, substantially, in the years to come, ensuring its dominance, reports the market study.
Rise in Automotive Industry to Support Growth of North America Sealers Market
The extensive usage of sealers in driveways and parking lots, as they provide a host of benefits, such as decreased water and fuel infiltration, enhanced lifecycle of the paved material, and added aesthetics, is the key factor that has been supporting the growth of the sealers market in North America. Another main factor, according to a VRR analyst is “the growth of the automotive industry in North America.” “The increasing number of vehicles in the region is fueling the demand for driveways, parking lots, and garages, leading to a high demand for sealers,” he added. With the need to maintain the high performance, efficiency, and appearance of these constructions, the demand for sealers in this region is expected to remain increasing over the next few years, notes the research study.
Growing Competition in North America Sealers Market
The North America sealers market is anticipated to observe substantial growth over the next few years, thanks to the considerably increasing competition between the leading market participants. With the continual entry of new players, the competition within this market is projected to intensify further, creating novel growth opportunities for this market in the years to come. Neyra Industries Inc., Fahrner Asphalt Sealers LLC, Bonsal American, Asphalt Coatings Engineering Inc., The Brewer Co., RaynGuard, SealMaster, GemSeal Pavement Pro, and Vance Brothers are some of the key players in this market, reviewed in this research report.
The North America Sealers Market has been segmented as presented below:
North America Sealers Market: Product
North America Sealers Market: Application
North America Sealers Market: Country Analysis
Scope of the Report
The recent report on the North America sealers market, with the help of a comprehensive outlook, provides readers with an assessment of the North America market landscape. This study on the North America sealers market analyzes the market scenario for the period from 2020 to 2027, wherein 2020 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This VRR study on the North America sealers market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the North America sealers market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the North America sealers market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in North America Sealers Market Report
This report answers these questions about the North America sealers market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
This VRR report on the North America sealers market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the North America sealers market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the North America sealers market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the North America sealers market, by using both bottom-up and top-down approaches
This detailed assessment of the North America sealers market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the North America sealers market is set to expand are based on carefully vetted primary and secondary sources.
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