The silicone sealant and adhesives industry is growing at a faster rate and the trend is predicted to continue over the next decade
The silicone adhesives industry size was $ 2.61 billion in 2020 and is predicted to reach $ 2.58 billion by 2025, with a CAGR of 6.64% between 2020 and 2025. The price and material availability Raw materials are the key factors for adhesive manufacturers to determine the cost structure of their products. Raw materials employed by the silicone adhesive industry include resins, tackifiers, and refined petroleum products. Most of these commodities are vulnerable to fluctuations in commodity prices. Adhesives and sealants have been known for centuries. They are mainly employed to join two different substrates. The advancement of polymer and chemical technology has brought adhesives and sealants to a higher level of industrial solutions. The unique chemical structure of silicone offers exceptional adhesion properties compared to other materials. Silicone joints can withstand great stresses and pressures and can be stable under extreme temperature conditions. Due to their versatility, silicone sealants and adhesives provide reliable and long-lasting adhesion to a variety of substrates ranging from glass, metals, and plastics. Sealants provide high cure speed at low temperatures. These features are predicted to drive expansion in the segment during the foreseen period.
Market drivers and restraints:
The escalating use of UV curing technology and thermosets in product manufacturing is predicted to improve production speed, improve scratch resistance, and provide superior bonding, which in turn is predicted to become the engine of further expansion. important to the worldwide silicone sealants and adhesives industry during the foreseen period. Furthermore, the escalating call for adhesives in the construction industry due to their various physical and chemical properties compared to other sealants, including polysulfide, acrylic and polyurethane, is predicted to fuel the call for silicone adhesives and sealants and thus stimulating the worldwide industry for silicone adhesives and sealants. The silicone sealant and adhesives industry is growing at a faster rate and the trend is predicted to continue over the next decade. Asia-Pacific, the largest industry for silicone sealants and adhesives, is the main contributor to the expansion of this industry. However, volatile organic compounds in silicone adhesives and sealants and growing consumer awareness of environmental safety are predicted to limit the expansion of silicone adhesives and sealants. This restricts the expansion of the worldwide silicone sealants and adhesives industry. However, along with the drivers, there are some restrictions that can cause a shortage in the worldwide industry for silicone adhesives and sealants. Environmental concerns raised due to the use of the volatile organic component in silicone adhesives and sealants may hamper industry expansion. However, the advancement of new products with improved properties will create new opportunities for the industry.
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Report segmented as:
By end use industry:
- Building & construction
- Electrical and electronics
Asia-Pacific has a significant share of the worldwide industry for silicone adhesives and sealants. This is due to an increase in call from end-use industries in Asia-Pacific. China is the largest consumer of silicone sealants and adhesives in the Asia-Pacific region. Asia-Pacific is followed by North America. The expansion in this region can be attributed to new technological innovations in the burgeoning auto industry. Asia-Pacific had the highest volume share (54.3%) in 2020. The region's large share is attributed to the expansion of end-use industries in developing economies. Government initiatives and programs in India, Vietnam, Thailand, Indonesia and other Southeast Asian countries are likely to drive expansion of the silicone sealant industry in several expanding industries. The expansion of the product in the region is attributable to its growing call in the construction and automotive sectors.
Important market players:
The major players covered in the silicone adhesives market are Henkel, H.B. Fuller Company, Sika, Illinois Tool Works Inc, AVERY DENNISON CORPORATION, Delo Industrial Adhesives LLC, Threebond Holdings Co., Ltd., Masterbond, Adhesives Research, Inc., Bluestar Silicones, Permabond LLC, ACC Silicone Ltd., Dymax Corporation, KCC Silicone, Panacol-Elosol GmbH, Quantum Silicones, HERNON MANUFACTURING INC., Benson Polymers Limited, among other domestic and global players.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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