Silicone Sealants Market Size, Share & Trends Analysis Report By Technology, By Application (Construction, Insulating Glass, Automotive, Industrial, Others), By Region, And Segment Forecasts, 2020 - 2025

Industry Insights

The global silicone sealants market size was estimated at USD 3.57 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.7% from 2020 to 2025. The market 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 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. The 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 of 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.

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. According to the International Energy Agency, the number of electric vehicles on the road is expected to reach 125 million by 2030 from 3.1 million in 2017. This is a positive sign for the global silicone sealants market.

Silicone Sealants Market Trends

Growth in the silicone sealants market is driven by the construction industry. Its superior physical and chemical properties such as resistance to corrosion, extreme temperatures, and weathering make it an ideal product for use in exterior paints & coatings, façades, and joints & structures. It helps in reinforcing strength of a building structure and improves the energy efficiency. These benefits are anticipated to increase the demand of silicone sealants across the forecast period.

Silicone sealants are also used in the manufacturing of glass insulation in automobiles and industrial machinery. These industries have been witnessing constant growth over the years in developing economies, which, in turn, has positively influenced the sealants market. The need for electronic components and frame assembly in aviation & aerospace industry are served through RTV sealants, which can withstand stress and temperature extremes.

RTV sealants play a vital role in delivering material solutions to provide design flexibility, long-term component reliability, and protection under harsh operating conditions. As silicone sealants have high adhesion rate and elongation rate, they are widely utilized in for sealing cracks and gaps in construction, and in the automotive industry in doorframes applications.

Solvent-based silicone sealants emit higher amounts of Volatile Organic Compounds (VOCs) while drying. These compounds affect the health of those in constant exposure to these products. VOCs are also known to contribute towards global warming. Acetoxy sealants produce acetic acid as a byproduct, which is corrosive to some metals such as brass, lead, silver, and copper.

Solid silicone sealants enter the environment as a component of industrial or domestic waste and are either landfilled or incinerated for disposal. Transportation of the sealants to the construction site, and the installation process also emit VOCs.

The automotive manufacturing industry uses up to 88 lbs. (40 kg) of adhesives and sealants in each vehicle. At the end of the life of the car, the disposed components containing sealants affect the recycling process, which ultimately affects the environment. To protect air, water, and soil from adverse effects of sealants, they must be disposed of in accordance with government regulations. These factors are likely to restrain market growth.

Technology Insights

Based on technology, the market is segmented into room temperature vulcanizing (RTV), thermoset or heat cured, radiation cured, and pressure sensitive. RTV was the largest segment in 2019, accounting for a volume share of 65.4%. The demand for RTV is majorly driven by increasing penetration of acetoxy, alkoxy, and oxime silicone sealants in structural applications in the building & construction and automotive industries.

Thermoset or heat cured is anticipated to be the fastest growing segment, in terms of revenue. It is expected to register a growth rate of 6.2%, over the forecast period. Thermoset silicone sealants are cross-linked polymeric resins that are cured with the help of high temperature. Their ability to withstand high temperatures makes them applicable in machinery and assembly applications in various industries including aerospace and automotive.

In terms of revenue, radiation cured segment is anticipated to register a growth rate of 5.7%, during the forecast period. Radiation cured sealants are cured using UV light or electron beam. Utilization of UV light or electron beam technology for curing improves the quality of product and reduces manufacturing cost. Also, these sealants offer high cure speed at low temperatures. Such characteristics are anticipated to boost the segment growth over the forecast period.

Application insights

Based on application, the market is segmented in construction, insulating glass, automotive, industrial, and others. Construction segment is expected to grow at a CAGR of 6.0%, in terms of revenue, during 2012-2025. The product is used in construction industry 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 2018, 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.

Insulating glass is anticipated to be the fastest growing segment of the market. It is expected to grow at a CAGR of 5.8% during the forecast period, in terms of volume. 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 held the largest volume share of 55.51% in 2019. The region is likely to witness substantial growth in thermoset 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.

North America is anticipated to witness a CAGR of 4.7% in terms of volume 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.

Global Silicone Sealants Market Share Insights

The market is dominated by major players such as Dow, Wacker Chemie Ag, the 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.

For example, in March 2017, Dow Corning introduced new silicone technologies for the construction industry. Dow Corning 121 Structural Glazing Sealant is one of the products of the portfolio.

Silicone Sealants Market Report Scope

Global Silicone Sealants Market Segmentation

This report forecasts revenue and volume growth at country & regional levels, and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of 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; 2014 - 2025)

  • Room temperature vulcanizing (RTV)

  • Thermoset or Heat cured

  • Radiation cured

  • Pressure sensitive

• Application Outlook (Revenue, USD Million; Volume, Kilotons; 2014 - 2025)

  • Construction

  • Insulating glass

  • Automotive

  • Industrial

  • Others

• Regional Outlook (Revenue, USD Million; Volume, Kilotons; 2014 - 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa