The global silicone adhesives and sealants market attained a revenue growth of USD 4.52 billion in 2021 and is projected to expand with a compound annual growth rate (CAGR) of approximately 5.1 percent over the forecast period to reach around USD 5.89 billion by 2028.
Industry Prospective:
The global silicone adhesives and sealants market attained a revenue growth of USD 4.52 billion in 2021 and is projected to expand with a compound annual growth rate (CAGR) of approximately 5.1 percent over the forecast period to reach around USD 5.89 billion by 2028. The research examines in-depth parent market trends, macroeconomic factors & indicators, and controlling variables, as well as market attractiveness by segment. The qualitative influence of key market variables on market segments and regions is also mapped in the report.
Silicone Adhesives and Sealants Market: Overview
Silicone adhesives and sealants are adhesives with silicon and oxygen atoms that are used to seal or attach substrates in an assembly. Its chemical makeup differs from that of other organic polymer-based adhesives. Other chemicals, moisture, and weathering are all resistant to silicone sealants. Silicone sealants are frequently used to join surfaces including plastic, metal, and glass. Silicone adhesives, which are based on electrometric technology, provide unrivaled flexibility and exceptional heat resistance, making them superlative for several applications in the electronic, electrical, aerospace, automotive, and construction sectors.
COVID-19 Impact:
The COVID-19 pandemic has negatively affected the global silicone adhesives and sealants market growth. The automobile industry has faced several issues as a result of COVID-19. The United States, Germany, the United Kingdom, Italy, Spain, South Korea, and Japan are among the main industrialized economies that have been negatively affected. Sales in Europe and the United States are not expected to recover to pre-COVID levels until 2023 at the earliest. The construction industry has faced several obstacles as a result of COVID-19. The United States, Germany, the United Kingdom, Italy, South Korea, Spain, and Japan are among the nations most badly hit by the epidemic. Due to supply chain delays and manpower shortages, building operations in most nations have been halted due to social distancing measures, supply chain interruptions, and labor dispersion.
Silicone Adhesives and Sealants Market: Growth Drivers
Increased demand from the building and construction sector may boost market growth.
The residential building sector is being driven by population growth and urbanization in emerging nations such as India, China, Indonesia, Brazil, Vietnam, and Mexico. In these nations, there is a mounting want for lasting housing, which is fueling the requirement for silicone adhesives and sealants. Silicone sealants and adhesives are used in a variety of building applications, including carpet, wallpapers, tiling, and external insulation systems. Insulated glass modules and curtain wall panels are also held in place with adhesives and sealants.
Silicone Adhesives and Sealants Market: Restraints
Stringent regulations on the use of adhesives and sealants may hamper market growth.
The manufacture of chemical and crude oil-based goods is heavily regulated in North America and Europe by environmental legislation. The manufacture of solvent-based goods in these regions is regulated by organizations such as the Epoxy Resin Committee and the European Commission. Due to such regulations manufacturers in Europe and North America are suffering. Further, these environmental laws are forcing manufacturers to work on developing environmentally friendly adhesives which may also affect the market growth.
Silicone Adhesives and Sealants Market: Opportunities
Increasing demand for sustainable and eco-friendly adhesives is likely to offer better growth opportunities for market growth.
The United States Environmental Protection Agency, Registration, Evaluation, Authorization, and Restriction of Chemicals in Europe, Leadership in Energy and Environmental Design in the United States, and other regional regulatory bodies have forced manufacturers of adhesives and sealants to create sustainable and environmentally friendly products with no or low VOC levels. However, manufacturers have benefited greatly from the trend toward more environmentally friendly products. Henkel, a leading adhesives and sealants firm, provides solvent-free solutions including H4710, H4500, H4720, and H3151 that comply with environmental requirements. Sustainable and green adhesive solutions created from recycled, renewable, biodegradable, or remanufactured materials are becoming more popular as the demand for ecologically friendly or green buildings grows. All of these factors are projected to drive opportunities for the global silicone adhesives and sealants market in the coming period.
Silicone Adhesives and Sealants Market: Challenges.
A shift in standards and rules poses a major challenge to the market expansion.
In terms of norms and rules, the silicone adhesives and sealants sector is always changing. The Construction Products Regulation (CPR) imposed new regulations for the advertising of construction products in the EU, such as regulation (EU) No 305/2011. Manufacturers must carry an additional burden in terms of labeling and documentation, as well as additional external testing expenses, to verify conformity under the new standards. Additional material warnings concentrating on biocides and waste packaging are issued on a regular basis, causing regulatory requirements to shift. To market their products, adhesives and sealants producers must follow the norms and changing requirements. Manufacturers are facing hurdles as a result of this.
Silicone Adhesives and Sealants Market: Segmentation
The global silicone adhesives and sealants market is bifurcated into type, end-use, and region. Based on type, the market is categorized into one-component and two-component. The end-user segment of the market is segregated into building & construction, transportation, healthcare, electrical & electronics, packaging, and others.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Recent Developments
Silicone Adhesives and Sealants Market: Regional Landscape
Asia Pacific to dominate the global market over the forecast period.
Geographically, Asia Pacific led the global silicone adhesives and sealants market. The region holds over 45 percent share and is expected to keep its dominance during the forecast period. Due to expanding domestic demand, escalating income levels, and easy access to resources, Asia Pacific has emerged as one of the top manufacturers and consumers of adhesives and sealants. One of the largest users of adhesives and sealants in this region is the automobile and transportation industries. Asia Pacific region's economic growth, especially in emerging markets like India, Malaysia, Taiwan, Thailand, Indonesia, and Vietnam, is contributing to a rise in the number of infrastructure investments, which is anticipated to boost the demand for silicone adhesives and sealants in the building and construction industry. North America has also emerged as a major revenue contributor in the global market with a market share of 35 percent.
Silicone Adhesives and Sealants Market: Competitive Landscape.
Major players operating in the global silicone adhesives and sealants market include 3M, ALSTONE, Henkel Corporation, Mc Coy Soudal, Momentive, Dow Corning Corporation, Aerol Formulations Private Limited, MASTERBOND, Sika AG, AVERY DENNISON, ACC Silicones Ltd., Wacker Chemie AG, Novagard Solutions, American Sealants, Inc., and Nitto Denko Corporation.
Global silicone adhesives and sealants market is segmented as follows:
By Type
By Application
By Region
Adhesive and sealants are used to hold a substance together or block openings or joints. Sealants and adhesives are mostly grouped collectively, as both items are used on the surface of a material to seal and hold it together. Sealants and adhesives are usually available in liquid form and are viscous in nature, with no or slightly flowing characteristics.
The technological development of polymers and chemical industry has upgraded sealants and adhesive to the next level of industrial solutions. Silicone-based adhesives and sealants are becoming more popular in different end-user segments due to their versatility and durable adhesion to a wide range of substances. Moreover, the factors such as unparallel flexibility, durability, and exceptional performance offered by silicone adhesive and sealants are useful in several applications for various sectors, like construction, aerospace, electronics, healthcare, and automotive industries will drive the silicone adhesives and sealants market during the forecast period.
The silicone adhesives and sealants market are segmented based on type into UV cured, one component, and two component. The UV cured segment is anticipated to grow at a significant CAGR, owing to the rising use of UV light curing systems, as UV light curing silicones generally have a secondary moisture cure mechanism to ensure that any silicone that is not irradiated with UV light will still cure. Alternatively, the one component segment is projected to dominate the global silicone adhesives and sealants market in the upcoming years. Based on composition, the silicone adhesives and sealants market is classified into alkoxy silicones, acetic silicones, oximinics silicones, and amino silicones. Based on end-user, this market is fragmented into construction, marine and aerospace, automotive, packaging, electrical and electronics, healthcare, and others. Rising construction and industrialization will prominently fuel the construction segment over the forecast period.
Based on geographic regions, the silicone adhesives and sealants market are classified into five major regions: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. The Asia Pacific region is anticipated to dominate the global silicone adhesives and sealants market, as China is the largest consumer and manufacturer of silicone adhesives and sealants in the region. High demand from various end-user industries, such as constructions, automotive, and electronics, in developing economies, such as China and India, will accelerate this market’s growth in this region. Europe is projected to hold the second largest market share of the global silicone adhesives and sealants market, owing to the growing automotive industry in the region.
Some of the key players of this market include 3M, Aerol Formulations Private Limited, Henkel Corporation, Mccoy Soudal, Benson Polymers Limited, Dow Corning Corporation, Momentive, Wacker Chemie AG, and MasterBond.
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The residential building sector is being driven by population growth and urbanization in emerging nations such as India, China, Indonesia, Brazil, Vietnam, and Mexico. In these nations, there is a mounting want for lasting housing, which is fueling the requirement for silicone adhesives and sealants. Silicone sealants and adhesives are used in a variety of building applications, including carpet, wallpapers, tiling, and external insulation systems. Insulated glass modules and curtain wall panels are also held in place with adhesives and sealants.
According to the Zion Market Research report, the global silicone adhesives and sealants market was worth about 4.52 (USD billion) in 2021 and is predicted to grow to around 5.89 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.1 percent.
Asia Pacific led the global silicone adhesives and sealants market. The region holds over 45 percent share and is expected to keep its dominance during the forecast period. Due to expanding domestic demand, escalating income levels, and easy access to resources, Asia Pacific has emerged as one of the top manufacturers and consumers of adhesives and sealants. One of the largest users of adhesives and sealants in this region is the automobile and transportation industries. The Asia Pacific region's economic growth, especially in emerging markets like India, Malaysia, Taiwan, Thailand, Indonesia, and Vietnam
Major players operating in the global silicone adhesives and sealants market include 3M, ALSTONE, Henkel Corporation, Mc Coy Soudal, Momentive, Dow Corning Corporation, Aerol Formulations Private Limited, MASTERBOND, Sika AG, AVERY DENNISON, ACC Silicones Ltd., Wacker Chemie AG, Novagard Solutions, American Sealants, Inc., and Nitto Denko Corporation.
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