The overall demand for weatherstrip seals faced a major fall in the pandemic as the government implemented lockdown which led to closing of production units. Closure of factories resulted in no production which resulted in the generation of low sales in the first half of 2020 whereas after the lifting of all barriers, manufacturing companies are giving constant efforts to compensate the losses suffered through effective research and development projects for ensuring upgraded products and services to their users in 2021.
What are Leading Weatherstrip Seal Manufacturers Doing?
Eminent market players such as Cooper Standard Corporation, Toyoda Gosei, Hutchinson Corporation, Nishikawa Corporation, Guihang Corporation, Magna International Corporation, Xiantong Limited, Hubei Zhengo Corporation and Qinghe Huifeng Corporation are focusing on increasing their production capabilities by setting up of new manufacturing centres in areas where skilled labour is available at an affordable cost and are contracting with known suppliers to improve their recognition among the users.
These leading players are adopting mergers & acquisitions, capacity utilizations, expansions, collaborations, joint ventures, partnership agrements, product diversifications and innovations, technological upgradations, sales agreements, hiring technical expertise etc to increase their market share throughout the world.
For instance, Toyoda Gosei Corporation entered into an agreement to divest its German production subsidiary Toyoda Gosei Meteor to Aeqph GmbH on 17th December, 2019. Under the terms of the agreement, TGM and its subsidiary Meteor Sealing Systems includes the U.S. unit’s stake in LMI Custom Mixing LLC.
The acquisition is aimed at increasing TG’s presence in the European market and develop new weatherstrip seals to meet the customer needs. In addition, it has launched weatherstrip seals for Elegant Lexus LC 500 Convertible. Elegant Lexus LC 500 Convertibleare customized to fit its unique, complex exterior shape and support an elegant look for the convertible model of the flagship coupe.
It has started supplying 34 weatherstrip seals of 20 different types for use on the doors, luggage compartments, hoods etc. Among them, the roof side rail weatherstrips have the functions of sealing the windows and the soft top roof as well as draining rainwater. It is continuously exploiting its expertise in rubber and plastics to contribute to more comfortable vehicle cabins and meet the diverse design needs of the customers globally.
In 2021, North America is dominating this market with one half of market share leaving all other regions far behind. Rising demands for weatherstrip seals from construction and automotive sectors in United States is encouraging the further progress of this market. Government efforts to encourage green buildings in Canada and United States is further adding its significant contribution.
Weatherstrip Seal Market: Snapshot
Weatherstripping is the way toward sealing the openings, for example, windows, doors, and trunks of the components. The term is also used for the materials used to complete such sealing procedures. The objective of weatherstripping is to keep rain and water from entering partially or completely achieves this by either rerouting or returning the water leakage. Another objective of weatherstripping is to keep inside air in, in this manner energy on air conditioning and heating.
Governments and construction firms all over the globe are including efforts for sustainability in their aim, in this manner fuelling growth of green buildings. Moreover, prefarication construction and mounting off-site ventures is a key pattern in the business that is increasing the demand among builders and contractors, since the on-site development is comparatively very much time consuming and costlier.
These elements have stimulated the demand for different development scope that incorporate, adhesives, sealing, and coatings. Commonly extracted from flexile and soft material, weatherstrip seals are thought to be fundamental parts of sealing windows and doors, which restrict the entry of moisture in the buildings. Owing to infrastructure-related and long-term construction related ventures coming back to the aim of developed nations, reception of weatherstrip seals o grow in forthcoming years.
A recent Fact.MR report offers marketers and strategists with the critical intelligence they require for assessing the supply demand for weatherstrip seals. The report imparts accurate forecasts on the market for the period between 2021-2031, along with industry-specific dynamics affecting the market expansion. By combining data analysis and integration with valuable research findings, the report offers in-depth insights and future estimations on demand for weatherstrip seals.
Robust Expansion of Construction Sector Worldwide to Spur Adoption of Weatherstrip Seals
Technological advancements such as integration of cloud and mobile applications are changing the way of operations in the construction sector. 3D printing and drone utilization are foreseen to flourish in the near future, thereby driving expansion of the augmented & virtual reality, and automation in this field.
Construction companies and governments across the globe are incorporating sustainability efforts in their agendas, thereby fuelling proliferation of green buildings. For example, the U.S. Green Building Council revealed its LEED-Neighborhood Development project in 2017. In addition, mounting off-site or prefabrication construction projects is a key trend in the industry that is gaining high traction among contractors and builders, as on-site construction is significantly more expensive and time-intensive.
These factors have rubbed off on demand for various construction components that include, coatings, sealing, and adhesives. Typically produced from soft, flexible material, weatherstrip seals are considered to be essential components of sealing doors and windows, which in turn prevent moisture infiltration. With long-term construction- and infrastructure-related investments returning to the agenda of developed countries, adoption of weatherstrip seals will increase in the forthcoming years. A prime example of such long-term investment is Long-Term Infrastructure Plan (LTIP) of Ontario, which includes construction of highways and roads, and modernizing transit for alleviating stresses off daily commute.
Product Innovation and Partnership Between Players to Remain a Key Trend
Manufacturers of weatherstrip seals are focusing on their portfolio extension by launching innovative weatherstripping solutions for application in construction as well as automotive sector. For example, RONA Home & Garden Golden Mile has introduced its U-shaped garage door bottom weatherstrip, called “Vinyl-9”, which the company claims to be perfect for insulating doors and windows of garages as well as homes. Backer rod included in this innovative weatherstrip exerts better sealing for filling gaps between irregular surfaces or floors and doors.
Another leading weatherstrip manufacturers, Magna International Inc., has recently launched an array of “Crimp on Flange (COF) Weatherstrip Tools”. Magna offers these tools in the form of various customized solutions such as crimping tools for weatherseals, and ergonomically-designed swivel attachments. Designed and engineered for every vehicle closure type, and compatible with forms of seals, COF tools offered by Magna are patented roller design for the variable flange thicknesses.
Key manufacturers of weatherstrip seal are concentrating on entering into partnerships in a bid to expand the scope of their offerings and gain a competitive edge over others. For instance, a partnership agreement was signed by Magna International Inc. with Michigan Department of Transportation and 3M in June 2017. This partnership aimed at the provision of high driver safety & security through innovative offerings, such as the COF tools, for reducing time required for door weatherstripping.
Optimistic Growth of Global Automotive Sector to Create Opportunities
With autonomous cars becoming a general concept, led by the tech-giant - Google and cab sharing giant – Uber, and robust sales of electric vehicles, such as that of Model 3 electric car (Tesla), the automotive industry is expected to perceive an upward expansion in the near future. Weatherstrip seals seek continuous and robust adoption in the automotive industry for preventing infiltration of air, water, dust, noise, and other natural elements. With promising outlook for the global automotive industry, demand for weatherstrip seals in the sector will increase in the upcoming years.
Fact.MR’s report evaluates the pricing structure and manufacturing cost of prominent product variants in the global weatherstrip seal market. Several other crucial parameters for determining the market size, such as demand & supply figures, gross profit margins and strategies implemented by the players operating in the market are also included in the report. Scope of this report is to offer actionable insights to its readers, so as to enable them in making better business decisions for growth in the upcoming years.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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