Global Silicone Adhesives and Sealants Market Growing On With Rising Construction Activities In Urban Areas and Growing Demand for Silicone Adhesives and Sealants in Automotive Industry
Silicone adhesives and sealants are gel type polymer-based adhesives. The silicone used in polymer-based adhesives offers elasticity and stability at a wide range of temperatures. Silicone adhesives remain elastic till the temperature of -75°C and have temperature stability till the temperature up to 200°C. Silicone adhesives and sealants offer strong resistance against weathering as well as moisture. Silicone adhesives are primarily used in situations where low bond strength is required along with flexibility as well as stability at low temperatures.
The global silicone adhesives and sealants industry was valued at around USD 2,497 million in the year 2019 and is anticipated to reach a value of USD 4,218 million by the end of 2026.
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Construction companies around the world are looking for adhesives and sealants that offer better scratch resistance, flexibility, and stability at low temperatures. Construction companies are opting for new types of sealants that help them to maintain the durability of paints & coatings at a wide temperature range and offer strength to existing reinforcement. Further, silicone adhesives and sealants are also used in automotive applications for bonding automotive components made from plastic, metal, glass, etc. Vehicle manufacturers are looking for reducing the overall vehicle weight to reduce the fuel consumption of the vehicle. Further, car manufacturers are also looking for sealants that are applicable to a wide range of materials and offer low bonding viscosity. The use of silicone adhesives and sealants enhance the weather resistance as well as the mechanical properties of sealed components.
Various companies operating in the global market and analysts estimate the global silicone adhesives and sealants market CAGR of nearly 6% over the period 2020-2026. In years ahead, significant growth in the residential as well as non-residential real estate industry in developing countries is expected to create new opportunities for the global silicone adhesives and sealants market. Moreover, an increase in passenger cars, as well as commercial vehicle sales, has also been a key growth driving factor. However, stringent government and federal regulations regarding the release of harmful substances into the environment has been a barrier to the growth of the global silicone adhesives and sealants market.
Some of the major players operating oi the global silicone adhesives and sealants market are DowCorning Corporation, 3M, Aerol Formulations Pvt. Ltd., Master Bond Inc., Bostik, Henkel AG, McCoy Soudal, Wacker Chemie AG, American Sealants, Inc., ACC Silicones Ltd., C.R. Laurence Co., Inc., Momentive Performance Materials Inc., H.B. Fuller, Sika AG, Wacker Chemie Ag, Nitto Denko Corporation, Aerol Formulations Private Limited, Novagard Solutions, Masterbond, CSL Silicones Inc., Selena Group, and Pecora Corporation. The major five companies operating in the global market like DowCorning Corporation, 3M, Henkel AG, Mc Coy Soudal, Nitto Denko Corporation, account for a market share of around 20% of the global silicone adhesives and sealants market in 2019.
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Based on type, the global silicone adhesives, and sealants market is segmented into UV cured, one component, and two components. The one-component segment dominated the global silicone adhesives and sealants market in 2019. In terms of composition, the global silicone adhesives and sealants market is segmented into Acetic Silicones, Amino Silicones, Alkoxy Silicones, and Oximinics Silicones. Based on the end-use of silicone adhesives and sealants, the market is bifurcated into construction, marine & aerospace, packaging, electrical & electronics, healthcare, and automotive. In terms of applications, the construction segment dominated the global market in 20119 and the automotive segment is expected to record the highest CAGR between the period 2020 and 2026. Based on geography, the global silicone adhesives and sealants market is segmented into North America, Europe, Latin America, and Middle East & Africa, with the Asia Pacific region dominating and recording the highest CAGR over the projected period. Rapid industrial development in the Asia Pacific region has brought economic prosperity in the region, which has led to an increase in living standards. This trend has been vital for the growth of the real estate and automotive sector in the region. The rapid growth of industries like real estate, housing, automotive, etc. has driven the Asia Pacificsilicon adhesives and sealants market.
Frequently Asked Questions
What are Silicone Adhesives and Sealants?
Adhesives and sealants are widely used for bonding two components together. Silicone adhesives and sealants offer high bonding strength when compared to other types of adhesives and sealants. These adhesives and sealants are also able to withstand over a wide temperature and pressure range.
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What are the key factors driving Silicone Adhesives and Sealants Market expansion?
The steady growth of the housing and real estate market as well as the rising automotive industry has been a key growth driving factor for the global silicone adhesives and sealants market in the last few years. The rise of electric vehicles and emission norms is anticipated to create lucrative opportunities for the global silicone adhesives and sealants market.
Which region will make notable contributions towards global Silicone Adhesives and Sealants Market revenue?
Asia Pacificsilicon adhesives and sealants market is estimated to record the fastest growth over the projected period and is predicted to dominate the global silicone adhesives and sealants market in the coming years. Currently, the Asia Pacific region accounted for nearly 40% share of the global silicone adhesives and sealants market.
Which are the key players leveraging Silicone Adhesives and Sealants Market growth?
Some of the leading companies in the global silicone adhesives and sealants market are Dow Corning Corporation, 3M, Aerol Formulations Pvt. Ltd., Master Bond Inc., Bostik, Henkel AG, McCoy Soudal, Wacker Chemie AG, American Sealants, Inc., ACC Silicones Ltd., C.R. Laurence Co., Inc., Momentive Performance Materials Inc., H.B. Fuller, Sika AG, Wacker Chemie Ag, Nitto Denko Corporation, Aerol Formulations Private Limited, Novagard Solutions, Masterbond, CSL Silicones Inc., Selena Group, and Pecora Corporation.