Silicone Adhesives and Sealants Market
Silicone Adhesives and Sealants Market Poised to Grow at 4% CAGR through 2029, Finds Persistence Market Research. Persistence Market Research conducted a study on the Silicone Adhesives and Sealants market for the historical period of 2014–2018 and forecast period of 2019–2029, which offers key inputs on the global Silicone Adhesives and Sealants market. The Silicone Adhesives and Sealants market is anticipated to register significant demand during the forecast period, due to growing investments in the construction industry, and the replacement of welding and mechanical fastening methods with adhesion. Increasing substitution of organic sealants by Silicone Adhesives and Sealants, miniaturization of electrical components, and rising trend towards the use of energy-efficient glass in construction are some of the factors that are expected to contribute toward the growth of the Silicone Adhesives and Sealants market over the estimated time period.
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Global Silicone Adhesives and Sealants Market: Dynamics
The global Silicone Adhesives and Sealants market is anticipated to be mainly driven by the construction, automobile, and electronics industries in the coming years. The construction industry is expected to create large volume sales of Silicone Adhesives and Sealants, owing to the large number of silicone sealant applications in the industry. Silicone Adhesives and Sealants account for almost 8% of the total global construction chemicals market. With the growing influx of investments in the construction industry, the market is projected to witness a healthy rise in the demand for Silicone Adhesives and Sealants in the coming years. The automotive industry is also experiencing an increased demand for Silicone Adhesives and Sealants. The use of Silicone Adhesives and Sealants instead of welding and mechanical fastening methods is expected to be one of the key factors driving its demand in automotive as well as other industries. The global sales of automobiles accounted for around 104 million units in 2017, and this is projected to grow at a steady pace in the coming years. This provides a significant growth opportunity to the Silicone Adhesives and Sealants market over the forecast years.
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Key Companies-
- 3M Company
- BASF SE
- Henkel AG & Co. KGaA
- RPM International Inc
- Bostik
- TKK D. O. O
- H.B.Fuller
- PPG Indiustries
- Pidilite
- GCP Applied technologies
- Mapei S.p.A
- DowDUpont
- Wacker Chemie AG
- Sika A.G.
Global Silicone Adhesives and Sealants Market: Segmentation Overview
- Segmentation on the basis of application: On the basis of application, the Silicone Adhesives and Sealants market is segmented into building & construction, semiconductors & electronics, automotive, glass, wood furniture, and HVAC. The building & construction segment is anticipated to hold a prominent position in the global Silicone Adhesives and Sealants market in terms of volume and value market share. The automotive segment is anticipated to register a robust growth rate, owing to the increasing demand from this industry to replace conventional welding and mechanical fastening with Silicone Adhesives and Sealants.
- Segmentation on the basis of product type: The general grade segment is projected to lead the Silicone Adhesives and Sealants market in terms of product type over the forecast period. Growing applications of general grade and curing period of general grade Silicone Adhesives and Sealants are considered to be the main factors contributing to the growth of this segment.
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Global Silicone Adhesives and Sealants Market: Regional Overview
China is projected to be one of the key countries in the global Silicone Adhesives and Sealants market, accounting for almost 15% of the total market share by the end of the forecast period. The South East Asia & Other Pacific (SEAP) market is anticipated to grow at a fast pace in the global Silicone Adhesives and Sealants market during the forecast period, owing to the growth in the automobile, construction, and electronics industries in these regions. Europe and North America are mature markets, owing to the maturity of the end-use industry growth, and are anticipated to grow at a significantly slow pace over the estimated period.
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