Silicone Sealants Market

Segmented By Technology (Room Temperature Vulcanizing (RTV), Thermoset or Heat cured, Radiation cured, and Pressure sensitive), By Application (Construction, Insulating glass, Automotive, Industrial, and Others), Region, and Competition.

New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Silicone Sealants Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" - https://www.reportlinker.com/p06435426/?utm_source=GNW Global Silicone Sealants Market is anticipated to witness a robust CAGR in the forecast period 2024-2028.Silicone sealants are liquid adhesives.Due to their water resistance, they provide strong adhesive bonds resistant to chemicals, moisture, and weathering. They are frequently used for basic household repairs, areas around the sink, or any pipework.The largest market segment for silicone sealants is the construction sector.For applications like sealing building and highway expansion joints, general weatherproofing of joints in porous and non-porous substrates, sanitary joints around the bathroom and kitchen fixtures, fire-rated joints around pipes, electrical conduits, ducts, electrical wiring within building walls and ceilings, and silicone sealants, primarily as one-part room temperature vulcanizable (RTV) products, are widely used by the construction industry.According to the European Construction Industry Federation, the European Union's total investment in construction increased by 5.2% in 2021 and amounted to €1.6 trillion, corresponding to 11.1% of the EU GDP. Moreover, 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. Thus, it increased the demand of the overall market in the region.It is also anticipated that rising consumer demand for electric and lightweight vehicles would fuel market expansion.Silicone sealants are used in the automobile industry to improve mechanical performance, weather resistance, and vehicle weight reduction.The International Energy Agency predicts that by 2030, there will be 125 million electric vehicles on the road, up from 3.1 million in 2017. This is promising for the market for silicone sealants globally.Apart from these, favorable government policies for Silicone Sealants and technological advancement for new applications will propel the Global Silicone Sealants Market in the forecasted period.Rising Demand For HVACDue to their excellent durability, weather resistance, shrink and crack resistance for vehicles, interior air quality, and thermal comfort, silicone rubber sealants are utilized explicitly for HVAC.To give suitable indoor air to people in residential and commercial buildings, modern HVAC control systems are used in these structures.Therefore, the increase in building construction will help increase the demand for HVAC and enable the market to prosper and expand.Increasing Expenditure on Construction ActivitySealants are used by the construction industry in a variety of applications, including wall covering, pre-finish panels, perimeters of doors, drywall, lamination, fixed window frames, flooring and carpets, tile insulation, garage doors, resilient flooring, and others.The government's encouragement of the sector is projected to cause the industry to expand steadily.In a renewed effort for the sector under the Atmanirbhar Bharat program, the Indian government has introduced several policies to support the National Infrastructure Pipeline (NIP) and the Affordable Rental Housing Complex (ARHC) scheme, along with Housing for all and other investment opportunities in the industrial segment.Mergers and Acquisitions• In 2019, Crevo-Hengxin, a Chinese producer of silicone sealants and adhesives used in industrial and construction applications, agreed to get acquired by Sika. With this acquisition, Sika gains additional silicone technology and a larger production footprint, boosting its Target Market segment industry along with sealing and adhesive operations in China and the Asia Pacific region.• In 2017, H.B. Fuller signed an agreement to purchase Royal Adhesives & Sealants, a manufacturer of high-value specialty adhesives and sealants. Royal is a highly respected supplier of industrial adhesives in various high-end markets, including aerospace, transportation, commercial roofing, insulating glass, solar, packaging, and flooring applications.• The acquisition of the Indian unit of the US-based Huntsman Group by Pidilite Industries, makers of the well-known adhesives under the Fevicol name, was finalized in 2020. Huntsman Advanced Materials Solutions manufactures adhesives, sealants, and other products in the country under the Araldite, Araldite Karpenter, and Araseal brands.Recent DevelopmentsWacker AG and its Indian joint venture, Wacker Metroark Chemicals (WMC), have announced the opening of a new silicone production facility in Panagarh, India, for 2022.The plant will produce silicone rubber and ready-to-use silicone compounds for use in electromobility, medical technology, and electrical distribution and transmission.The manufacture of silicone fluids and silicone emulsions will eventually enter a stage of expansion. Over the next five years, the company plans to invest a mid-double-digit million euro in Panagarh to meet the rising demand for silicone sealants in India and solidify its position as a top silicone producer.New Product LaunchesIn 2022, Bridgestone Americas and Dow collaborated to create B-SEALS, a recyclable silicone-based tyre sealant solution.The B-SEALS technology will provide superior sealant performance without compromising durability.The new silicone-based sealant can be removed after use, in contrast to previous sealants that were challenging to separate from the tyre following application. The solution is removable, which promotes end-of-life tyres recycling and material circularity.Market SegmentationGlobal Silicone Sealants Market is segmented based on Technology, and Application.Based on technology, the Global Silicone Sealants Market can be divided into Room Temperature Vulcanizing (RTV), Thermoset or Heat cured, Radiation cured, and Pressure sensitive.Based on Application, the market is divided into Construction, Insulating glass, Automotive, Industrial, and Others.Market playersDow Chemical Company, Jyoti Resins & Adhesives, Pidilite Industries Ltd, Wacker Chemie AG, Astral Adhesives, HP Adhesives Ltd, Huntsman International LLC, H.B. Fuller, Mapei S.p.A. and The 3M Company are some of the key players operating in the market.Report Scope:In this report, Global Silicone Sealants Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:• Silicone Sealants Market, By Technology:o Room Temperature Vulcanizing (RTV)o Thermoset or Heat curedo Radiation Curedo Pressure Sensitive• Silicone Sealants Market, By Application:o Constructiono Insulating Glasso Automotiveo Industrialo Others• Specialty Enzymes Market, By region:o Europe France Germany United Kingdom Italy Spain Russiao Asia-Pacific China India Japan Australia South Koreao North America United States Canada Mexicoo Middle East and Africa Saudi Arabia UAE Qatar Turkey Egypt South AfricaCompetitive LandscapeCompany Profiles: Detailed analysis of the major companies present in Global Silicone Sealants Market.Available Customizations:With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).Read the full report: https://www.reportlinker.com/p06435426/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________