San Francisco, 26
September 2018: The global silicone sealants market is expected to reach USD 3.50 billion by 2024,
according to a new report by Grand View Research, Inc. The product is
increasingly substituting various organic sealants and adhesives in
construction, insulating glass, automotive, and industrial applications owing to
their chemical characteristics including resistance to chemicals and corrosion
and physical properties such as water repelling and elongation.
Growing utilization of
thermoset and radiation curing technologies in the manufacturing of the product
is expected to enhance the elongation and curing capabilities, which in turn is
expected to propel demand over the forecast period. Additionally, the presence
of established raw material suppliers including BASF and Evonik with superior
additives as part of their product portfolio is expected to propel demand over
the forecast period.
Growing demand for the
product in the construction industry owing to the superior characteristics of
silicone sealants as compared to organic sealants including polyurethane,
polysulfide and acrylic are expected to be the key driver for the market over
the next eight years. However, high volatile organic compounds (VOCs) emission
associated with silicone sealants and growing consumer awareness for
environment safety is likely to restrain growth over the next eight years.
Access Research Report
of Silicone Sealants
Market@ www.grandviewresearch.com/industry-analysis/silicone-sealants-market
Further key findings from the report suggest:
· Room Temperature Vulcanizing (RTV) was the
largest technological segment, accounting for 65% revenue share in 2015.
Infrastructural development in emerging economies coupled with growing
application scope of the compound in the construction industry is expected to
drive the demand over the next eight years. However, the growth is limited by
the emergence of radiation curing technology providing enhanced characteristics
including elongation and low viscosity as compared to other manufacturing
techniques.
· Construction application accounted for the
largest revenue share in 2015 accounting for over 60% of the overall market
share, and this trend is expected to continue over the forecast period owing to
developing infrastructure in Asia Pacific and Latin America region. However,
growing automotive and insulating glass industry is likely to limit growth over
the forecast period.
· The insulating glass industry is expected
to witness significant growth, growing at a CAGR of over 5% from 2016 to 2024.
Growing demand for silicone sealants as a second layer in dual glass insulation
is expected to drive the growth over the projected period.
· Asia Pacific accounted for the largest
share, accounting for over 50% of the revenue share in 2015. In addition, the
region is expected to witness the highest growth owing to rising demand for the
product in construction and automotive industry.
· Key players in the industry include Dow
Corning Corp., Shin-Etsu Chemical Company and Wacker Chemie AG, Tremco
Incorporated, 3M Company, H.B. Fuller and Bostik Company.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the silicone sealants market on the basis of product, application and
region:
Silicone Sealants Market Product Outlook (Volume, Kilo
tons; Revenue, USD Million, 2013 - 2024)
·
Pressure Sensitive
·
Radiation Curing
·
Room Temperature Vulcanizing
·
Thermoset
Silicone Sealants Market Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Construction
·
Insulating Glass
·
Automotive
·
Industrial
·
Others
Silicone Sealants Market Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
·
Middle East & Africa
Access Press Release of
Silicone Sealants Market@ www.grandviewresearch.com/press-release/global-silicone-sealants-market
About
Grand View Research
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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