Silicone Sealants Market Overview
Silicone Sealants Market is projected to be worth USD 4,463.3 Million by 2030, registering a CAGR of 5% during the forecast period (2022 - 2030). The elements that are taking forward the construction silicone sealants market include increasing demand from residential housing, commercial offices, energy, rail, sewerage, and water, along with rising infrastructure output from key sub-sectors, like roads.
The major areas, where construction silicone sealants are used include glazing, flooring and joining, kitchen and sanitary, windows and door systems, decoration, insulating glass, and many more. These applications are increasing, which has subsequently spurred the growth of construction silicone sealants markets and the growing penetration of silicone sealants in new utilities, like weatherproofing, decoration, ductwork, structural bonding, and structural glazing in the construction industry is taking forward the silicone sealants market. Under changing environments, they prevent cracking and provide stress-bearing capacity. Growing investments in construction activities, such as bridges, dams, metro stations, and airports are also driving the demand for silicone sealants for applications, like weatherproofing, panels, expansion joints, and many more.
Some of the key players in the global silicone sealants market are Wacker Chemie AG (Germany), 3M (US), Shin-Etsu Chemical Company (Japan), H.B. Fuller (US), Sika AG (Switzerland), Bostik (US), Henkel AG & Co. KGaA (Germany), Huntsman International LLC (US), Mapei (Italy), American Sealants, Inc. (US), Momentive (US), McCoy Soudal (India), ALSTONE (India), Pecora Corporation (US), and Adshead Ratcliffe & Co Ltd. (UK), among others.
Silicone Sealants Market Share, by End-Use, 2017 (%)
Source: MRFR analysis
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global Silicone Sealants market. Asia-Pacific dominated the global silicone sealants market in 2017 and is expected to grow at highest CAGR during the forecast period. The emerging economies in this region have undertaken the rapid expansion of their infrastructure projects. Additionally, the countries namely, India, China, South Kora, and Malaysia are the major electronics markets in the globe. Moreover, the rapid growth of both construction and automotive industry in this region is expected to drive the market growth for the silicone sealants in this region.
North America is closely following Asia-Pacific and held the second largest market share in 2017. Growing reconstruction activities and surging demand for the product in the automotive industry are driving the growth of regional Silicone Sealants market.
Europe is another substantial regional market, wherein the rapidly increasing demand for the product in automobile industry is a key driver for the growth of the regional market. The Middle East & African and Latin American markets held little pie of shares in 2017, yet these regions are estimated to grow at a considerable CAGR of owing to high investment and growth potential.
The global silicone sealants market has been segmented on the basis of technology, end-use, and region.
Based on technology, the global silicone sealants market has been segregated into pressure sensitive, radiation curing, ambient temperature vulcanizing, thermoset and others.
On the basis of end-use, the market is categorized into construction, automotive, electronics, aerospace, consumer goods, industrial assembly, and others.
The global silicone sealants market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The construction of silicone sealants is getting demand from the developing countries, such as India, China, Indonesia, Brazil, and others for their non-slum policy across their countries, and Vietnam is one of those countries, which is primarily due to the growth in population, urbanization, and rising income. This continuous increase in residential housing in these countries is driven by the construction silicone sealants market. The major regions for the marketing of construction silicone sealants include the USA, Germany, Norway, Japan, and others. These countries supply their manufacturing facilities to various countries across Asia Pacific, Europe, and the Rest of the world. The global market for construction silicone sealants is calculated to face a decrease in its growth rate in 2020-2021 due to covid-19.
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Basis of technology, end-use, and region.|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wacker Chemie AG (Germany), 3M (US), Shin-Etsu Chemical Company (Japan), H.B. Fuller (US), Sika AG (Switzerland), Bostik (US), Henkel AG & Co. KGaA (Germany), Huntsman International LLC (US), Mapei (Italy), American Sealants, Inc. (US), Momentive (US), McCoy Soudal (India), ALSTONE (India), Pecora Corporation (US), and Adshead Ratcliffe & Co Ltd. (UK), among others.|
|Key Market Opportunities||Growing demand for the high water, chemical, oil, and fuel resistant sealants.|
|Key Market Drivers||Expanding industries of electronics, automotive, and construction.|
The global silicone sealants market is set to expand at 5% CAGR from 2018 to 2023.
The global silicone sealants market stood at USD 3.5 billion in 2017.
Expanding industries of electronics, automotive, and construction is the major driver of the global silicone sealants market.
Concerns over the effects of volatile organic compounds can deter the global silicone sealants market.
The APAC region can dominate the global silicone sealants market owing to rising number of infrastructure projects.
Momentive, Wacker Chemie AG, McCoy Soudal, 3M, Bostik, American Sealants, Inc., Pecora Corporation, Henkel AG & Co. KGaA, Adshead Ratcliffe & Co Ltd., ALSTONE, Mapei, H.B. Fuller, Huntsman International LLC, Shin-Etsu Chemical Company, and Sika AG are major players of the global silicone sealants market.