Silicone Sealants Market Size is projected to reach USD 6.50 Billion by 2030, growing at a CAGR of 6.2%: Straits Research

The global silicone sealants market was valued at USD 3.78 billion in 2021 and is projected to reach USD 6.50 billion by 2030, registering a CAGR of 6.2% from 2022 to 2030. Asia Pacific region held the highest share of the silicone sealants market in 2020, up to 45 percent.

 | Source: Straits Research Straits Research

New York, United States, July 27, 2022 (GLOBE NEWSWIRE) -- Silicone sealants are liquid adhesives used in architecture and construction, cars, and electronic gadgets, among other applications. Silicone sealants retain their flexibility at both high and low temperatures and are resistant to other chemicals, water, and elements. It serves as a connecting agent for engine components. It is utilised as cable and sensor sealants in electronic devices. RTV is a silicone rubber compound that is commonly used for bonding, sealing, potting, encapsulating, coating, and casting. According to the Japan Electronics and Information Technology Sectors Association, the total global output of the electronics and IT industries would expand by 2 percent in 2020 to reach $2,972.7 billion. It is anticipated that a yearly output rise of 3 percent will enhance demand in 2021. Consequently, the increasing number of electronic gadgets will stimulate the Silicone Sealants Market throughout the forecast period.                                


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The growing trend of Lightweight Vehicle in the Automotive

The market for silicone sealants is driven by the growing need for lightweight and electric automobiles. The use of silicone sealants to reduce vehicle weight and enhance thermal and mechanical qualities is driving the silicone sealants industry. The International Energy Agency reports that the number of electric vehicles has increased during the past decade. Vehicle registrations climbed by 41% in 2020, with 10 million electric vehicles on the road by the end of the year. Europe overtook China as the world's largest market for electric vehicles in 2020, surpassing China's market share by 4.6 percent. The number of electric cars sold in 2020 was around 3 million, a sales rise of 4.6 percent. Consequently, the increasing demand for electric vehicles would propel the Silicone sealants market throughout the forecast period.

Growing Environmental Concern

Increasing environmental concerns resulting from the use of the eruptive organic component in silicone adhesives and sealants are impeding market expansion. Increasing need for eco-friendly sealants in many industries, including as construction, vehicle, Electrical & Electronics, and household appliances, restrains market expansion. The European Union, the United States, and others have enacted stringent rules for the use of silicone sealants due to safety concerns and to prevent health problems related with VOC emissions from chemical products. Consequently, increasing environmental awareness and the usage of biobased sealants will constrain demand for silicone sealants over the projection period.

Increasing Demand for HVAC

Due to its great durability, weather resistance, shrink & crack resistance for vehicle and indoor air quality, and thermal comfort, silicone rubber sealants are commonly used in HVAC. In residential and commercial buildings, the modern HVAC control system is utilised to offer healthy indoor air to breathe and a comfortable environment for the occupants. According to Worldwide Construction Perspectives and Oxford Economics, the global construction sector would exceed US$ 15,5 trillion and account for 57 percent of global growth by 2030, led by China, the United States, and India. During the projection period, the growth in building construction will contribute to a rise in demand for HVAC from residents of parched environments and the tropics.


Report Scope

Report MetricDetails
Market SizeUSD 6.50 Billion by 2030
CAGR6.2%
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredType, Technology , Application and End-use Industry
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors3M Company, BASF, B Fuller company, Dow Silicones Corporation, RPM International Inc., Henkel AG & Co, DuPont, Wacker Chemie AG, Shin-Etsu Silicones, I.du Pont de Nemours and Company
Key Market OpportunitiesIncreasing Demand for HVAC
Key Market DriversThe Growing Trend of Lightweight Vehicle in The Automotive

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Regional Analysis of the Global Silicone Sealants Market

The market is split into North America, Europe, Asia-Pacific, and LAMEA.

Due to the presence of massive Infrastructure projects in developing nations like as China, India, Indonesia, and others, the Asia-Pacific region held the highest share of the Silicone sealants market in 2020, up to 45 percent. Silicone sealants are in high demand in the architecture and construction industry because to their extensive use in the installation of glass indoors, windows, external and interior decorations. According to Invest India, 100 smart cities projects are now underway, 600 railway stations are slated for rehabilitation, the net office space absorption in 2020 was around 31.9 million square feet, and the construction industry is predicted to rise by 7.1% annually by 2025. Consequently, the expanding construction industry is boosting the Silicone sealants Market.


Key Highlights

  • The global silicone sealants market was valued at USD 3.78 billion in 2021 and is projected to reach USD 6.50 billion by 2030, registering a CAGR of 6.2% from 2022 to 2030.
  • The Acetoxy type segment accounted for around 32% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period.
  • The Room temperature vulcanizing (RTV) type segment accounted for approximately 28% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period.
  • The Construction segment accounted for more than 35% of the market share in 2020 and is estimated to grow significantly during the forecast period.
  • Asia Pacific region held the largest share in the Silicone sealants market in 2020


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Competitive Players in the Global Silicone Sealants Market

  • 3M Company
  • BASF
  • B Fuller company
  • Dow Silicones Corporation
  • RPM International, Inc.
  • Henkel AG & Co
  • DuPont
  • Wacker Chemie AG
  • Shin-Etsu Silicones
  • I. du Pont de Nemours and Company


The Global Silicone Sealants Market Segmentation

By Type

    • Acetoxy
    • Amino
    • Oximinics
    • Acetic
    • Others

     By Technology

    • Room temperature vulcanizing (RTV)
    • Thermoset or Heat cured
    • Radiation cured
    • Pressure-sensitive
    • UV Cured
    • Others

By Application

    • Glass
    • HVAC
    • Paperboard & Packaging
    • wood & Furniture
    • Plastic
    • Plumbing
    • Sound Damping
    • Gasketing
    • Others

By End-Use Industry

    • Transportation (Automotive, Aerospace, Marine, Railway and Others)
    • Building & Construction (Residential Construction, Commercial Construction, Infrastructure and Others)
    • Electrical & Electronics
    • Household Appliance
    • Textile Industry
    • Healthcare
    • Packaging
    • Industrial
    • Others


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Silicone Sealants Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Acetoxy
      1. Market Size & Forecast
    3. Amino
      1. Market Size & Forecast
  5. Technology Overview
    1. Introduction
      1. Market Size & Forecast
    2. Thermoset or Heat cured
      1. Market Size & Forecast
    3. Radiation cured
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Type
        2. By Technology
      3. Canada
        1. By Type
        2. By Technology
      4. Mexico
        1. By Type
        2. By Technology
      5. Latin America
        1. By Type
        2. By Technology
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Technology
      3. France
        1. By Type
        2. By Technology
      4. U.K.
        1. By Type
        2. By Technology
      5. Italy
        1. By Type
        2. By Technology
      6. Spain
        1. By Type
        2. By Technology
      7. Rest of Europe
        1. By Type
        2. By Technology
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Technology
      3. China
        1. By Type
        2. By Technology
      4. Australia
        1. By Type
        2. By Technology
      5. India
        1. By Type
        2. By Technology
      6. South Korea
        1. By Type
        2. By Technology
      7. Rest of Asia-Pacific
        1. By Type
        2. By Technology
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Technology
      3. South Africa
        1. By Type
        2. By Technology
      4. Kuwait
        1. By Type
        2. By Technology
      5. Rest of Middle East & Africa
        1. By Type
        2. By Technology
  7. Company Profile
    1. 3M Company
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. BASF
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. H.B Fuller company
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @  https://straitsresearch.com/report/silicone-sealants-market/toc


Recent Developments by Key Players

  • In October 2021, the chemical company Wacker, with headquarters in Munich, recently acquired a sixty percent stake in the specialty silane manufacturer (SICO) Performance Material company. This was done with the intention of bolstering the Silicone business by expanding the range of high-performance specialty products available in Asia.
  • In June 2020, RWC has introduced two new moisture-resistant silicone fire sealant solutions under the model numbers HF300SL and HF300CG. These products are intended for use in applications that are subjected to high amounts of moisture or that require UL-listed W ratings.

News Media
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Global Lithium-Ion Battery Recycling Market to Grow Spontaneously at a Healthy CAGR During Forecast Period
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Silicone Sealants Market Silicone Sealants Market Size Silicone Sealants Market Share Silicone Acetoxy Amino Oximinics HVAC RTV

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