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Global Silicone Adhesives & Sealants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Silicone Adhesives & Sealants Market is projected to register a CAGR of 6.41%. Key Highlights. Largest Segment by End User Industry - Building and Construction : Building and construction is the dominant end-user industry because of the wide range of silicone sealant applications, including joint sealing and heat insulation.
New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Silicone Adhesives & Sealants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381337/?utm_source=GNW
Largest Segment by Technology - Sealants : Sealant is the largest technology type in the market owing to the rising use of silicone in sealant technology to improve UV stability, increased temperature resistance, high workability, and adhesion to a variety of construction surfaces.
Largest Segment by Region - Asia-Pacific : Asia-Pacific, driven mainly by India, China, South Korea, and Japan, is a major silicone adhesive and sealant consumer owing to the dominant usage of sealants from various end-user industries, including construction, medical, automotive, and aerospace.
Fastest-growing Segment by Region - Europe : Due to the rising adoption of silicone adhesives and sealants in its construction, automotive, and medical devices industries, Europe is projected to be the fastest-growing region during the forecast period.
Silicone Adhesives & Sealants Market Trends
Building and Construction is the largest segment by End User Industry.
Silicone adhesives are known for their unique properties, such as low-temperature resistance, good electrical properties and weather resistance, and chemical stability.
Silicone adhesives and sealants are used in various industries, but building and construction is the primary end-user consumer of these adhesives as they are used in several construction applications. These adhesives and sealants are highly advantageous for construction manufacturers in terms of UV stability, extreme temperature resistance, within the range of -65°C to 300°C, and a low curing time of up to 24 hours with three methods. Silicone sealants are mainly used as a bonding sealing agent, which can be used in windows and doors, building facades, kitchens & bathrooms, and other applications.
Silicone adhesives are also widely used in the packaging industry. These adhesives are highly flexible in nature, which is a particular requirement of the packaging industry. They are primarily used in food packaging with metal, plastic, and paper substrates. Water-borne silicone adhesives are the highest consumed adhesive technology and accounted for 70% of the total market in 2021. This technology is cheaper than other technologies used in this industry.
The rising demand for structural adhesives from the building and construction industry and flexible adhesives for the packaging industry is expected to drive the demand for silicone adhesives and sealants over the coming years. The construction industry is expected to record a CAGR of 3.5% up to 2030. The electronic industry’s usage of silicone sealants is expected to register a CAGR of 2.57% during the forecast period 2022-2028.
Asia-Pacific is the largest segment by Region.
Silicone adhesives and sealants accounted for a 9.25% share of the global adhesives and sealants demand in 2021. They are used in construction, packaging, automotive, aerospace, healthcare, and many other industries. These adhesives and sealants also provide building structures more flexibility, allowing materials to absorb stress and movement produced by wind or earthquakes. Silicone adhesives and sealants in buildings can also save energy by preventing damp and heat or cold air from entering through seams and gaps. The global silicone adhesives and sealants market is expected to record a CAGR of about 4.39% in terms of volume during the forecast period 2022-2028.
Asia-Pacific is the leading consumer of silicone adhesives and sealants globally. The rising construction activities in the region are generating demand for silicone adhesives and sealants. The new floor area in the region is expected to reach 24.6 billion square feet by 2028 from 17.9 billion square feet in 2021.
Silicone-based adhesives and sealants are majorly consumed in the construction and packaging industries across the globe. Nearly 715 thousand tons of silicone adhesives and sealants were consumed in the construction industry in 2021. Silicone sealants are used more in construction applications as they are highly advantageous for manufacturers in terms of UV stability, extreme temperature resistance ranging within -65°C and 300°C, and a short curing time of up to 24 hours with three methods. Silicone adhesives and sealants are mainly used as bonding and sealing agents, which can be used in windows and doors, building facades, kitchens and bathrooms, and other applications.
Silicone Adhesives & Sealants Market Competitive Analysis
The Global Silicone Adhesives & Sealants Market is fragmented, with the top five companies occupying 32.68%. The major players in this market are Chengdu Guibao Science and Technology Co., Ltd., Dow, Henkel AG & Co. KGaA, Sika AG and Soudal Holding N.V. (sorted alphabetically).
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