Global Silicone Sealants Market By Geography
The Global Silicone Sealants market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific accounted for the largest market share in the Global Silicone Sealants Market in 2022.
With the rise in the construction industry, the thermoset and RTV sealants market segments in the region are expected to rise significantly. Growth in the market is predicted to be aided by the expanding construction sector in the area and RTV’s capacity to seal joints in structures across a range of substrates without causing construction components to lock.
Additionally, these sealants possess low maintenance, reduce long-term expenses, and increase building stability and longevity, all of which contribute to the market’s expansion.
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Competition Scenario In Global Silicone Sealants Market
The global silicone sealants industry is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players. The market for silicone sealants has presence of several domestic manufacturers and a sizable number of Chinese manufacturers supplying low-cost goods.
To combat volatile raw material prices, prominent players in the silicone sealants market are focusing on the vertical integration of manufacturing capabilities and the expansion of manufacturing facilities.
Large global players control about 15% of the market presence, while regional players hold the largest presence in the market at 45%. Some of the major players in the market include 3M Company, BASF SE, Henkel AG & Co. KGaA, Bostik, TKK D. O. O, H.B.Fuller, PPG Industries, Pidilite, GCP Applied Technologies, Dupont, Wacker Chemie AG, Sika A.G., and others.
What Is The Expected Future Outlook For The Overall Global Silicone Sealants Market Across The Globe?
The Global Silicone Sealants market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Silicone Sealants market is driven by exceptional resistance capabilities of silicone to moisture, weathering, and other chemicals, and unlike other adhesive types, it can maintain its stability and elasticity at both low and high temperatures and is adopted by various end-user industries like building & construction, semiconductors & electronics, automotive, glass, and wood furniture. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Silicone Sealants market is changing rapidly. For instance, In January 2021, Momentive acquired the silicone division of KCC Corporation in South Korea and the UK. Additionally, the business purchased a Chinese sales organization. Momentive’s global expertise in advanced silicones and specific applications is expected to further enhance by this purchase.
In June 2020, RWC released two new moisture-resistant silicone fire sealant products called HydroFlame 300 caulk-grade and HydroFlame 300 self-leveling sealants. These are intended for applications that have UL-listed W ratings or that are exposed to high moisture levels. These silicone sealants that dry quickly can be applied to various flooring holes, pipe types, and wall penetrations.
Furthermore, Momentive Performance Materials, a well-known supplier of silicone and specialty chemical-based products, signed a deal with Henkel in August 2020 to sell its Consumer Sealants segment. With this agreement, Henkel strengthens its position as a top supplier of adhesives, sealants, and other materials for the construction industry.
The global silicone sealants market is forecasted to continue the positive growth that is being witnessed since 2021. One of the main trends driving market expansion is the rise in demand for construction silicone sealants in the infrastructure and residential housing sectors. The market for silicone sealants is highly competitive with ~200 companies including several domestic manufacturers and a sizable number of Chinese manufacturers supplying low-cost goods.
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Key Topics Covered in the Report
- Snapshot of Global Silicone Sealants Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Silicone Sealants Market
- Historic Growth of Overall Global Silicone Sealants Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Silicone Sealants Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall Global Silicone Sealants Market
- Future Market Forecast and Growth Rates of the Total Global Silicone Sealants Market and by Segments
- Market Size of Technology / Application Segments with Historical CAGR and Future Forecasts
- Analysis of Silicone Sealants Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Companies Profiled in the Report
- 3M Company
- BASF SE
- Henkel AG & Co. KGaA
- TKK D. O. O
- PPG Industries
- GCP Applied Technologies
- Wacker Chemie AG
- Sika A.G.
Notable Emerging Companies Mentioned in the Report
- Tengyu Chemical (Longkou)Co., Ltd.
- Jinwuhuan Neutral Silicone Sealant
- American Sealants Inc.
- Robert Mckeown Co., Inc.
- Anti-Seize Technology, A.S.T. Industries, Inc.
- Ravensberger Wachs-Chemie Bernhard Seidel GmbH & Co KG
- Nan Pao
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Construction Industry Personnel
- Electronics Manufacturers
- Vehicles Manufacturers
- Wood Furniture Manufacturers
- Wood Product Manufacturers
- Glass Furniture Manufacturers
- Glass Product Manufacturers
- Acetoxy Silicone Sealant Manufacturers
- Amino Silicone Sealant Manufacturers
- Oximinics Silicone Sealant Manufacturers
- Acetic Silicone Sealant Manufacturers
- Room Temperature Vulcanizing (RTV) Technology Providers
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022E-2030F
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Global Silicone Sealants market