RTV Silicone Market size to Reach USD 1.61 Billion by 2028 | Global Analysis, Industry Statistics, Revenue, Demand and Trend Analysis Research Report by Emergen Research

Vancouver, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The global RTV silicone market size was USD 1.17 Billion in 2020  and is expected to reach a market size of USD 1.61 Billion by 2028 at a CAGR of 4.0%, over the forecast period, according to latest analysis by Emergen Research. Increasing demand for RTV silicone from construction and automotive industries is a major factor driving revenue growth of the global market. RTV silicone has various physical properties which include resistance to moisture and chemicals, electrical insulation, low coefficient of thermal expansion and high dielectric strength. Due to these properties, adoption of RTV silicone is increasing for sealing and bonding applications in automotive, aerospace, and construction industries.

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RTV silicones are available in two types, including RTV-1 and RTV-2, and these are produced in solid, paste, and liquid forms. The RTV-2 segment accounts for majority revenue share in the market as this type of silicone can be applied in a wide range of processes such as mold making, 3D printing, bonding, and protection of electronic components used in hybrid and electric vehicles. These silicones are also used in many craft projects such as creating models, stencils, and sculptures because it offers many unique advantages compared to other adhesives – for instance, it maintains its shape and translucency after drying; whereas, other adhesives tend to shrink after drying.

Further Key Findings in the Report:

• In February 2019, Pratley introduced a new RTV silicone gasket maker. This product is chemical-resistant and can function in temperatures ranging from -50°C to +300°C for short periods.
• The RTV-2 segment accounted for major revenue share and is expected to register a CAGR of 3.9% in the global market throughout the forecast period. This can be attributed to increasing adoption of RTV silicone in automotive and construction sectors.
• North America is projected to register a CAGR of 4.5% between 2021 and 2028. Increasing construction activities and constant advancements in the automotive industry are factors fueling revenue growth of the market in this region.

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For the purpose of this report, Emergen Research has segmented global RTV silicone market based on type, end-use, marketing channel, and regions as follows:

• Type Outlook (Revenue: USD Billion; 2020–2028)
  • RTV-1
  • RTV-2
•      End-use Outlook (Revenue: USD Billion; 2020–2028)

• Construction Industry
• Electrical & Electronics Industry
• Automotive Industry
• Aerospace Industry
• Others

•     Marketing Channel Outlook (Revenue: USD Billion; 2020–2028)
  • Online
  • Offline

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• Regional Outlook (Revenue: USD Billion; 2020–2028)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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