09-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Silicone Adhesives and Sealants Market By Type (One Component, UV Cured, and Two Component), By Composition (Alkoxy Silicones, Amino Silicones, Acetic Silicones, and Oximinics Silicones), and By End-Use(Construction, Packaging, Automotive, Marine & Aerospace, Healthcare, and Electrical & Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global silicone adhesives and sealants market was valued at approximately USD 2,497 million in 2018 and is expected to reach a value of around USD 4,218 million by 2027, at a CAGR of around 6% between 2019 and 2027.
Silicone adhesives and sealants find large-scale applications in the bonding of two different kinds of substrates. Moreover, technological breakthroughs in polymer and chemical industry have elevated the adhesive features of the product. Noticeable silicon chemical structure helps in significant bonding among the parts in comparison to the other materials. Silicon bonds are able to withstand extreme temperatures, pressure, and stress conditions without experiencing any change in its physical & chemical structure. Due to the versatility of silicone adhesives and sealants, they possess an elongated lifespan. Their reliable bonding of many components ranges from plastic, metal, and glass. The favorable product features like durability, flexibility, and resistance to high temperatures & pressures make silicone adhesives and sealants most preferred for different applications in construction, automotive, aerospace, healthcare, and electronics sectors.
Browse the full “Silicone Adhesives and Sealants Market By Type (One Component, UV Cured, and Two Component), By Composition (Alkoxy Silicones, Amino Silicones, Acetic Silicones, and Oximinics Silicones), and By End-Use(Construction, Packaging, Automotive, Marine & Aerospace, Healthcare, and Electrical & Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/silicone-adhesives-and-sealants-market-by-type-one-156
Massive product demand across the construction activities to drive the market growth by 2027
The rise in the number of home constructions along with massive industrialization will scale up the growth of the construction sector and this will result in the burgeoning growth of silicone adhesives and sealants market. In addition to this, population explosion has resulted in huge demand for construction activities, thereby culminating in huge product demand in the construction sector.
Furthermore, escalating usage of silicone adhesives & sealants in vehicles will promulgate the expansion of the silicone adhesives and sealants industry over the forecast period. Reportedly, the silicone adhesives & sealants help in raising the efficiency of the vehicle parts and help in reducing the overall weight of the vehicle, thereby minimizing the fuel emissions in the atmosphere. However, enforcement of strict government laws due to environmental concerns can act as the barrier to the growth of the market over the forecast period. Reports cite that the product contains volatile organic compounds that can cause environmental damage. The growing eco-friendly trends witnessed among end-users can deter them from using the product and this may pose a threat to the market progression.
One component to dominate the type segment over the forecast period
The growth of the segment is credited to the high performance of the one component silicone adhesive & sealant product imparting low bonding viscosity, sealing, strong adhesiveness, coating, and encapsulation to a myriad range of substrates.
Automotive sector to register highest CAGR over the forecast period
The automotive sector is predicted to register the highest growth rate of over 6% during the forecast period. The segmental growth is due to a prominent rise in the vehicle production witnessed in countries like India and China.
Report Scope
Report Attribute |
Details |
Market Size in 2018 |
USD 2,497 Million |
Projected Market Size in 2027 |
USD 4,218 Million |
CAGR Growth Rate |
6% |
Base Year |
2018 |
Forecast Years |
2019-2027 |
Key Market Players |
3M, Henkel AG & Co. KgaA, Master Bond Inc., Benson Polymers Limited, McCoy Soudal, Dow Corning Corporation, Wacker Chemie AG, Momentive Performance Materials Inc., and Aerol Formulations Pvt. Ltd. |
Key Segment |
By Type, By Composition, By End-Use, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The Asia Pacific is projected to dominate the overall market growth during the forecast period
The growth of the market in the region is due to thriving construction and vehicle manufacturing activities witnessed in countries like India and China due to a rise in the purchasing capacity of the customers.
The key players included in this market are 3M, Henkel AG & Co. KgaA, Master Bond Inc., Benson Polymers Limited, McCoy Soudal, Dow Corning Corporation, Wacker Chemie AG, Momentive Performance Materials Inc., and Aerol Formulations Pvt. Ltd.
This report segments the Silicone Adhesives and Sealants Market as follows:
Global Silicone Adhesives and Sealants Market: By Type Segment Analysis
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One Component
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UV Cured
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Two Component
Global Silicone Adhesives and Sealants Market: By Composition Segment Analysis
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Alkoxy Silicones
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Amino Silicones
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Acetic Silicones
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Oximinics Silicones
Global Silicone Adhesives and Sealants Market: By End-Use Segment Analysis
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Construction
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Packaging
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Automotive
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Marine & Aerospace
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Healthcare
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Electrical & Electronics
Global Silicone Adhesives and Sealants Market: Regional Segment Analysis
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North America
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Europe
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Asia Pacific
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Latin America
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Middle East and Africa
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