Global Silicone Sealants Market Size, Share & Trend Report

Global Silicone Sealants Market Size, Share & Trend Analysis Report By Technology, By Application (Insulating Glass, Construction, Automotive), By Region, And Segment Forecasts, 2016 - 2024

  • Published Date: Aug, 2016
  • Base Year for Estimate: 2015
  • Report ID: GVR-1-68038-029-3
  • Format: Electronic (PDF)
  • Historical Data: 2013-2015
  • Number of Pages: 115

Industry Insights

Silicone sealants market size was USD 2.20 billion in 2015. Growing demand for silicone sealants in multiple end-use industries, on account of superior characteristics including high bonding qualities, thermal and chemical resistance and non-corrosion is expected to propel market growth. Technological advancements in the silicone sealants industry have significantly improved the performance efficiency of the product across various applications, which in turn is likely to drive demand. Furthermore, the low viscosity of the product through radiation curing enables the application of the product on uneven substrates is expected to augment demand.

The industry is likely to witness significant growth owing to its growing demand in the applications including construction, automotive, insulating glass and others. The growing construction and automotive industry across the world owing to the growing emphasis on infrastructure development and rising consumer standard of living are expected to drive the demand over the projected period. Furthermore, increasing demand for dual glass insulation coupled with utilization of product as the second layer of insulation is expected to augment the demand in insulating glass industry.

U.S. silicone sealants market

The emission of volatile organic compounds (VOCs) and growing environmental concerns among consumers is expected to restrain market growth over the forecast period. Unavailability of alternatives to the chemicals responsible for the emission of VOCs is expected to pose a challenge for the manufacturers and in addition, may pose a challenge to new market entrants.

Technological advancements in manufacturing silicone sealants and increasing utilization of sealants in end-use industries are expected to drive the market over the forecast period. The elongation, thermal resistance, and non-corrosive properties of the product are expected to bolster the growth of the market substantially.

The product is suitable for application on the surfaces or substrates that are sensitive to stress and pressure. However, the product does not possess high-adhesive properties as compared to the silicone adhesives owing to its chemical composition, owing to which adhesives market is growing at a higher rate than the product.

Application Insights

Construction segment dominated the market accounting for over 66.4% of the global market in terms of volume in 2015. Infrastructural development in the emerging economies and extensive use of the product in the construction industry are the demand drivers in countries including India, Indonesia, Brazil, and Argentina.

The automotive application is likely to grow at a CAGR of over 4.3% from 2016 to 2024. Growing automotive sector in developed & emerging economies, owing to the increasing global population and rising consumer disposable income are also anticipated to boost product demand in this application.

The properties of silicone sealants such as thermal and chemical resistance along with its ability to hinder heat transfer from one substrate to other is likely to fuel its demand in glass insulation industry. In addition, the growing global demand for dual-glass insulation in window frames is expected to augment the market demand over the next eight years. A thin layer of silicone sealant is applied between the two glass pieces while insulating the window frames.

Silicone-based sealants are more versatile and last longer than organic polymer sealants that are manufactured from polyurethane, acrylic, and others. Silicone is a tough rubbery substance with exceptional performance characteristics and meets a wide variety of industrial applications such as bonding and sealing requirements. Silicone sealants have high resistance against extremely high & low temperatures and weatherization. These properties are expected to drive the demand for the product in industrial applications.

Technology Insights

The product is manufactured with the utilization of four technologies namely, pressure sensitive, room temperature vulcanizing, radiation curing and thermoset or heat curing. Room temperature vulcanizing (RTV) technique dominated the global market. This can be attributed to the extensive consumption of RTV silicone sealants in the construction industry.

Manufacturing of the product by pressure sensitive technology is expected to witness substantial in the automotive industry as the technology enables the ease in application and adhesion of silicone sealants. Heat curing or thermoset silicone sealants are cross-linked polymers that cure using heat or heat and pressure. Cured thermoset polymers do not melt or flow when heated which increases the adhesion of the sealants to the substrate.

Global silicone sealants market

In terms of volume, the global market demand by pressure sensitive technology growing at a CAGR of 3.9% from 2016 to 2024. Pressure sensitive silicone sealants have excellent heat & cold resistance, superior dielectric properties & removability, and offer good adhesion over a variety of substrates.

These are widely used in the automotive industry. They require very slight pressure to adhere to the substrate and dry quickly owing to their chemical composition. They have high water and chemical resistance. They also offer wide operating temperature range, conformability, and adhesion to low energy surfaces.

Regional Insights

Asia Pacific emerged as the largest & fastest growing market in recent years, owing to high demand for the chemical and physical characteristics of the product in several applications. The region accounted for over 50% of the global silicone sealants market in 2015. The rapid expansion of application industries and rising consumer disposable income are other factors driving growth in this region.

Numerous old buildings and infrastructural projects are being refurbished and renovated in UK and Germany using advanced materials such as silicone sealants and industrial adhesives, which in turn is expected to drive the market demand over the forecast period.

In North America, the automotive industry in the region has been witnessing a substantial growth since the past few years and the trend is expected to continue over the next eight years. Ascending consumer demand and growing population are the key driving factors for the growth in the automotive industry. Rising demand for the product in multiple industries, including the automotive industry, is expected to boost the demand over the forecast period. Furthermore, the high consumption of silicone sealants in consumer goods is expected to aid their demand over the forecast period.

Growing utilization of the product in buildings in U.S. to install firestop openings in the fire-resistance-rated wall and floor assemblies to reduce the impact of flames and smoke is expected to aid the demand over the forecast period.

Global Silicone Sealants Market Share Insights

The industry is highly competitive owing to the presence of a large number of established manufacturers and suppliers and new entrants in the market. Major players such as Dow Corning Corp., Shin-Etsu Chemical Company, and Wacker Chemie AG are actively involved in the market, with numerous strategic alliances and product innovations, which are being emulated by other players as well. Wacker Chemie AG and Dow Corning AG signed a joint venture contract to establish the largest manufacturing facility of silicone in China to meet the growing demand in Asia Pacific.

Key players in the industry include Dow Corning Corp., Shin-Etsu Chemical Company and Wacker Chemie AG, Tremco Incorporated, 3M Company, H.B. Fuller, Bostik Company, Sika Group, Henkel AG & Co. KGaA, Huntsman International LLC, Mapei U.K. Ltd., Dow Automotive Systems, Royal Adhesives & Sealants, Gardner-Gibson Inc., American Sealants, Inc.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2014

Forecast period

2016 - 2024

Market representation                                                  

Volume in Kilo tons

Revenue in USD Million

CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Germany, UK, China, Japan, and India

Report coverage              

Revenue forecast, company share, competitive landscape, growth factors and trends

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