Silicone Sealants Market Size, Share & Trends Analysis Report By Technology, By Application (Construction, Insulating Glass, Automotive, Others), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global silicone sealants market size was valued at USD 3.81 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. The growth is majorly driven by the growing consumption of silicone sealants in the construction industry. The increasing demand is owing to the superior chemical & physical properties of the product such as resistance to chemicals, high & low temperatures, and weathering, along with durability and strength. Silicone sealants used in the construction sector are viscous and have the ability to tolerate shear force. The phenomenal properties of silicone are further enhanced by additives during the production of sealants. Additives help in improving thermal, electrical, and mechanical resistance, and add characteristics such as improved adhesion, UV resistance, and pigmentation.

Application of silicone sealants in the construction industry is beneficial in various ways. Their use helps in achieving durability of exterior paints & coatings, long-term maintenance and appearance of façade, reinforcement of natural strength and weather-ability of old joints and structures, and improved energy efficiency of the building. As a result, the growth of the building & construction industry is anticipated to have a positive influence on the demand for silicone sealants during the forecast period.

Certain favorable features of the product boost its consumption in various construction projects. For example, Cornish College of the Arts’ in Seattle utilized DOWSIL silicone sealant for unit sealing in the construction of their new residence and academic building. The product was chosen taking into consideration challenges such as improvement in thermal performance, Seattle Building Code, extreme weather conditions in the region, etc.

The growing popularity of lightweight automobiles and electric vehicles is further expected to drive market growth. Utilization of silicone sealants in the automotive industry helps in weight reduction of vehicles and in improving weather resistance and mechanical performance.

Technology Insights

Room temperature vulcanizing (RTV) dominated the market with a revenue share of more than 65% in 2022. This is attributed to the increasing penetration of acetoxy, alkoxy, and oxime silicone sealants in structural applications in the building & construction, and automotive industries.

Thermoset silicone sealants are cross-linked polymeric resins that are cured with the help of high temperatures. Their ability to withstand high temperatures makes them applicable in machinery and assembly applications in various industries including aerospace and automotive.

Radiation-cured sealants are cured using UV light or an electron beam. The utilization of UV light or electron beam technology for curing improves the quality of products and reduces manufacturing costs. Also, these sealants offer high cure speed at low temperatures. Such characteristics are anticipated to boost segment growth over the forecast period.

Application Insights

Construction application dominated the market with a revenue share of over 60 % in 2022. This is attributed to the rising utilization of the product in the construction sector for various purposes such as bathroom & kitchen fittings, floor gap sealing, fire rated joints around pipes, electrical conduits, ducts, and electrical wiring within building walls and ceilings.

The growing use of the product in the construction industry is propelling major manufacturers to increase their production capacity. For example, in April 2019, Wacker Chemie AG announced opening a new production site for silicones in South Korea, where silicone sealants for the construction industry and specialty silicone elastomers for electronic applications will be produced in different facilities.

The product is applied as a secondary seal in insulating glass. The demand for insulating glass is increasing due to factors such as energy efficiency, acoustic insulation, and growth in economic conditions of developing countries. This is anticipated to boost the consumption of silicone sealants in the application segment.

Regional Insights

Asia Pacific region dominated the market with a revenue share of more than 50.0% in 2022. This is attributed to the fact that the region is likely to witness substantial growth in thermosets as well as RTV technologies within the sealants market on account of their increased penetration in the construction industry. The growing construction industry in the region coupled with the ability of RTV to seal joints in structures across various substrates while preventing the locking of construction components is anticipated to aid market growth. In addition, these sealants facilitate easy maintenance and lower the costs in the long run, while improving the stability and durability of the buildings, thus resulting in driving the market growth

The end-user industries in India such as automotive, construction, electronics, and consumer goods are expected to witness high growth in the coming years. The Indian government is undertaking efforts to develop the country’s manufacturing sector, encouraging domestic production along with the existing infrastructure to support the expanding retail sector. These factors are anticipated to fuel the demand for silicone sealants in various end-user industries over the forecast period.

The consequent use of silicone sealants in buildings as an attempt to seal openings within fire-resistance rated wall and floor assemblies and prevent the spread of flames and smoke from one room to another is also expected to boost product consumption. The application of silicone sealants in various cosmetic products and food grade sealants in food packaging in the region is also expected to aid market growth over the projected period.

Silicone sealants market in the U.S. is expected to witness a substantial growth over the forecast period owing applications in insulating glass. The utilization of silicone sealants as the second layer for insulation is expected to propel their demand in the country. The growth of electronics and consumer goods industries is expected to fuel the demand for food grade and other silicone sealants in the U.S. Rising consumer awareness about fire safety is expected to propel the demand for silicone sealants in construction applications.

Key Companies & Market Share Insights

The market is dominated by major players such as Dow, 3M Company, H.B. Fuller, Bostik, Sika AG, and Henkel Corporation. Increasing production capacity and new product developments are amongst the key strategies adopted by most players of the industry.

The global players face intense competition from each other as well as from the regional players who have strong distribution networks and good knowledge about suppliers & regulations. In April 2022, Elkem Silicones, a producer of silicones, silicon, and alloys for the foundry sector, invested more than USD 14 million to develop its Flagship Asia-Pacific R&I Center in Shanghai. The company's most recent initiatives to increase its investment in China include this development. In addition, companies in the market compete on the basis of quality offered and the technology used for the manufacturing of the product. Some prominent players in the global silicone sealants market include:

• Dow

• Shin-Etsu Chemical Company

• Wacker Chemie AG

• 3M

• Tremco Incorporated

• Bostik

• Sika AG

• Henkel Corporation

• Huntsman International LLC

• H.B. Fuller

• Mapei

Recent Developments

• In November 2022, Wacker Chemie AG introducedELASTOSIL® LR 3078, a high-strength silicone adhesive and self-adhesive silicones for polycarbonate. This is an unusual liquid silicone rubber self-adhesive that has excellent adhesion to the transparent material polycarbonate and is frequently utilized in medical technology.

• In October 2022, Shin-Etsu Chemical Company developed a clear, water-repellent coating compound of silicon and oxygen called Sicle that will improve the recyclability of paper items. This novel material enables an additional separation step with a lower environmental impact.

• In March 2022, Shin-Etsu Chemical Company launched the KPC series, an innovative, superior-vulcanization, single-component liquid silicone rubber product. This product offers temperature, weather, and electric resistance for sealing and coating materials in electric vehicles, electronic devices, and semiconductors.

Silicone Sealants Market Report Scope

Global Silicone Sealants Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global silicone sealants market report on the basis of technology, application, and region:

• Technology Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • Room Temperature Vulcanizing (RTV)

  • Thermoset Or Heat Cured

  • Radiation Cured

  • Pressure Sensitive

• Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • Construction

  • Insulating Glass

  • Automotive

  • Industrial

  • Others

• Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa