The global Silicone Sealants Market size is expected to reach USD 6.07 billion by 2030, registering at a 6.0%, as per the new report by Grand View Research, Inc. The increasing construction activities across the globe, along with the growing demand for insulated glass due to rising concerns over energy consumption, are anticipated to drive market growth.
The
construction industry was the major end-user of silicone sealants in 2018 and
this trend is expected to continue over the forecast period. The various
benefits of the product such as the ability to withstand high & low
temperatures, insulation, durability, aesthetic finish, water and chemical resistance,
etc., increase their preference over other adhesives & sealants.
Growing infrastructural developments across the world, especially in developing
economies are anticipated to drive market growth.
The
market is segmented based on four technologies, out of which room temperature
vulcanizing (RTV) held the largest share in 2022. RTV silicone sealants are
extensively used in a wide range of applications and are gaining popularity in
electronics. For instance, their usage in the assembly process of the
automotive industry helps in removing the need for pre-cut fixed gaskets,
reduces the use of screws, protects against vibrations, and prevents water
penetration.
Furthermore,
automotive applications are expected to witness sluggish growth owing to the
growing use of adhesives. However, the penetration of pressure-sensitive
sealants in the automotive industry is expected to grow substantially on account
of the less pressure required to bind to the substrate and their improved
adhesion properties. Industrial application is expected to witness steady
growth owing to initiatives undertaken by the governments of emerging economies
to promote manufacturing in the countries. The use of silicone sealants is
expected to grow in other applications such as cosmetics, home appliances,
electronic devices, and others over the forecast period.
Related Press
Release@ Silicone Sealants Market Report
Silicone Sealants Market Report Highlights
- Thermoset or
heat cured is estimated to be the fastest growing application, in terms of
volume, with a CAGR of 5.8% from 2023 to 2030
- In terms of
volume, the automotive application segment is expected to grow at a CAGR
of 5.4% during the forecast period, owing to the increasing use of
silicone sealants in automotive electronics
- Construction
application segment accounted for a revenue share of 60.2% in 2022,
considering the increasing global construction output
- The room
temperature vulcanizing (RTV) segment held a revenue share of 65.1% in
2022. The share is attributable to its increasing demand in applications
where high heat resistance is required
- The players
in the silicone sealants industry are integrated across various stages of
the value chain. For instance, Wacker Chemie AG is a raw material
supplier, manufacturer, and distributor of various silicone sealant
products
Silicone Sealants Market Report
Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 4.03 billion |
|
Revenue forecast in 2030 |
USD 6.07 billion |
|
Growth rate |
CAGR of 6.0% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Silicone Sealants Market Segmentation
Grand
View Research has segmented the global silicone sealants market based on
technology, application, and region:
Silicone Sealants Technology Outlook (Revenue, USD
Million; Volume, Kilotons, 2018 - 2030)
- Room
Temperature Vulcanizing (RTV)
- Thermoset Or
Heat Cured
- Radiation
Cured
- Pressure
Sensitive
Silicone Sealants Application Outlook (Revenue, USD
Million; Volume, Kilotons, 2018 - 2030)
- Construction
- Insulating
Glass
- Automotive
- Industrial
- Others
Silicone Sealants Regional Outlook (Revenue, USD Million;
Volume, Kilotons, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle East
& Africa
List of Key Players in the Silicone Sealants Market
- Dow
- Shin-Etsu
Chemical Company
- Wacker
Chemie AG
- 3M
- Tremco
Incorporated
- Bostik
- Sika AG
- Henkel
Corporation
- Huntsman
International LLC
- H.B. Fuller
- Mapei
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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