Silicone Sealants Market To Reach USD 3.80 Billion By 2026 | Reports And Data

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Growing demand for the excellent properties of Silicone sealants from various industries globally is a major factor influencing market growth.

Market Size – USD 2.60 billion in 2018, Market Growth - CAGR of 4.7%, Market Trends –Rise in demand for Silicone sealants from the Construction Industry

NEW YORK, April 24, 2019 (GLOBE NEWSWIRE) -- The Silicone sealants Market is expected to reach USD 3.80 Billion by 2026, 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.

Key participants include 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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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.

The Asia Pacific region evolved as the largest & fastest growing market in recent years, owing to the high demand for the physical and chemical characteristics of the product in various applications. The region accounted for the largest share of 28.32% of the global silicone sealants market in 2018. The accelerated development of application industries and increasing consumer disposable income are other factors stimulating growth in this region.

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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 2018.
  • 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 2018.
  • 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.
  • The significant players in the HVAC Rental Equipment Market includes Aggreko (UK), Carrier (US), Johnson Controls (US), Trane (Ireland), Sunbelt Rentals (US), United Rentals (US), Cool Breeze Rentals (Australia), Hertz Equipment Rental (US), HVAC Rentals (Canada), Reliance Commercial Solutions (India), and Temp-Air (US).

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Segments covered in the report:

This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2019 to 2026. For the purpose of this study, Reports and Data have segmented the Silicone Sealants Market on the basis of Product, technology, application, cure type and region:

Product (Revenue, USD Million; 2016-2026)

  • Elastomeric silicone rubber
  • Free flowing
  • Cure in place gasketing
  • Lubricating greases

Technology (Revenue, USD Million; 2016-2026)

  • Room Temperature Vulcanizing
  • Pressure Sensitive
  • Radiation Curing
  • Thermoset

Application (Revenue, USD Million; 2016-2026)

  • Construction
  • Automotive
  • Insulating Glass
  • Industrial
  • Others

Cure Type (Revenue, USD Million; 2016-2026)

  • Acid Cure
  • Neutral Cure
  • Acetone Cure

Regional Outlook (Revenue, USD Million; 2016-2026)

  • North America
    • U.S.
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
  • Latin America
    • Brazil
  • Middle East & Africa

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