The Silicone sealants Market is expected to reach USD 4.08 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with increasing demand from construction industries globally. Based on statistics, increasing demand for the product in the construction industry owing to the superior characteristics of silicone sealants as compared to organic sealants including polysulfide, polyurethane, and acrylic are expected to be the fundamental driver for the market growth during the forecast period. However, high volatile organic compounds (VOCs) emission correlated with silicone sealants and rising consumer awareness for environment safety is expected to restrain growth.
Silicone sealants are mainly used in the automotive transportation industry for the production of connector seals, turbocharger hoses, silicone wiper blades, gaskets, spark plug boots, and ignition cables. The use of these elastomers has changed the conception and production process in the automotive transportation industry.
Top Companies Operating in the Global Silicone Sealants Market:
Dow Corning Corp., Wacker Chemie AG, Shin-Etsu Chemical Company, Tremco Incorporated, 3M Company, Bostik Company, H.B. Fuller, Sika Group, KGaA, Huntsman International LLC, Henkel AG Co. , Mapei U.K. Ltd., Gardner-Gibson Inc., Royal Adhesives Sealants, Dow Automotive Systems, American Sealants
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Further key findings from the report suggest
- Silicone sealants are a type of viscous materials that find valuable application as sealants in several industry verticals. These sealants are not the same as conventional adhesives; they differ in strength and elasticity.
- The global silicone sealants Market is growing at a rapid speed owing to the growing demand from automotive industries.
- The application of silicon sealants as elastomeric rubber in product segment accounts for the largest share of 34.81% of the global market in 2020.
- The RTV technology is expected to grow at a CAGR of 4.8% during the forecast period.
- Room temperature vulcanize (RTV) is used mostly in low-temperature applications like sealing, bonding, over-molding, lens, and performing other molds in healthcare, medical, electrical electronics, construction industries.
- Construction application is anticipated to grow at a CAGR of 4.8% during the forecast period and is expected to continue owing to evolving infrastructure in the Asia Pacific and Latin America region.
- The growing automotive sector in advanced emerging economies, owing to the booming global population and growing consumer disposable income are also expected to promote product demand in this application.
- The automotive application segment accounts for a share of 23.80% of the overall market in 2020.
- Wacker Chemie AG and Dow Corning AG signed a joint investment contract to build the largest manufacturing facility of silicone in China to meet the increasing demand in the Asia Pacific region.
- APAC is estimated to register the highest CAGR of 4.9%, during the forecasted period.
- The majority of the market in APAC is due to the spontaneous availability of low labor and raw materials in the region.
- Also, the developing prosperity of countries such as Indonesia, Taiwan, China, and India is inviting new international ventures in these countries thereby leading to the growth of various industries in this region.
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Silicone Sealants Market Segmentation
Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028)
- Elastomeric silicone rubber
- Free flowing
- Cure in place gasketing
- Lubricating greases
Technology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028)
- Room Temperature Vulcanizing
- Pressure Sensitive
- Radiation Curing
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028)
- Insulating Glass
Cure Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028)
- Acid Cure
- Neutral Cure
- Acetone Cure
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Silicone Sealants market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Silicone Sealants market.
The global Silicone Sealants market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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