San
Francisco, 08 April , Silicone Sealants Market Analysis By Technology
(Pressure Sensitive, Radiation Curing, Room Temperature Vulcanizing,
Thermoset), By Application (Insulating Glass, Construction, Automotive,
Industrial) And Segment Forecasts To 2024
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.
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Research Report On Silicone Sealants Market Analysis:
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: https://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
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Press Release of this Report: https://www.grandviewresearch.com/industry-analysis/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.
For more
information: www.grandviewresearch.com/
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