Analysis of Potential Impact of COVID-19 on Latex Caulk Market
The global latex caulk market is predicted to witness steady growth trajectory during 2018-2026. Asia Pacific market is expected to retain its dominant share during the forecast period.
Caulk is a commonly used material in constructions and house repairs for fixing and sealing gaps in structures. It can be applied on doors, pipers, during plumbing, roofing and a wide range of other applications. Caulk is easily available and provides insulation to various structures.
Latex caulks apart from being easy to use, can also be smoothened as per different requirements. Users can simply trim it with a tool or a finger. Additionally, latex caulk can last for as long as ten years, making it an ideal durable choice. Moreover, latex caulk can also be polished with a sandpaper to give a better polish to a surface.
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Latex caulk is quickly gaining ground against silicone caulk due to its ease of handling. Latex caulk can be applied easily in porous as well as non-porous materials to fill various gaps. Growing infrastructural as well as residential constructional activity across the globe is fuelling demand for latex caulk.
Global Latex Caulk Market: Key Trends
Global latex caulk market is predicted to gain a significant boost by growing private and public investments in infrastructure development projects. The global construction industry is expected to witness major growth during this period. Along with major economies of Asia, several developing economies of the rest of the world are witnessing increased investments in infrastructure developments.
Additionally, DIY (Do It Yourself) trends witnessed in repairing activities are also likely to boost the market. Due to high costs and low availability of repairmen and other technician, many consumers increasingly prefer DIY methods. DIY methods require consumers to purchase latex caulk tubes and other forms in advance to keep handy.
The latex caulk market also faces certain challenges during the forecast period. The market is expected to witness price fluctuations due to instability in the raw material market. The prices of resins are expected to witness fluctuations as these are dependent on crude oil.
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Global Latex Caulk Market: Regional Outlook
Asia Pacific is expected to keep its largest share of the global latex caulk market in the near future. North America and Europe will be a close second. Construction sector in North America is one of the largest in the world. Additionally, DIY methods of repairing and procuring supplies ahead of time are a common trend in the market. There is also a growing scope for innovation in the North American market as recent trends of smart homes are likely to lead to renovations, up gradation and repairing for many. Asia Pacific will also be boosted by the trends of smart homes, however to a much smaller extent.
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Global Latex Caulk Market: Competitive Dynamics
Major players operating in the global latex caulk market include Franklin International, Chemence, The 3M Company, Sherwin Williams, The DoW Chemical Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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