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

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

Silicone Sealants Market Growth & Trends

The global silicone sealants market size is expected to reach USD 6.07 billion by 2030, registering at a 6.0%, as per the new report by Grand View Research, Inc. The increasing construction activities across the globe, along with the growing demand for insulated glass due to rising concerns over energy consumption, are anticipated to drive market growth.

The construction industry was the major end-user of silicone sealants in 2018 and this trend is expected to continue over the forecast period. The various benefits of the product such as the ability to withstand high & low temperatures, insulation, durability, aesthetic finish, water and chemical resistance, etc., increase their preference over other adhesives & sealants. Growing infrastructural developments across the world, especially in developing economies are anticipated to drive market growth.

The market is segmented based on four technologies, out of which room temperature vulcanizing (RTV) held the largest share in 2022. RTV silicone sealants are extensively used in a wide range of applications and are gaining popularity in electronics. For instance, their usage in the assembly process of the automotive industry helps in removing the need for pre-cut fixed gaskets, reduces the use of screws, protects against vibrations, and prevents water penetration.

Furthermore, automotive applications are expected to witness sluggish growth owing to the growing use of adhesives. However, the penetration of pressure-sensitive sealants in the automotive industry is expected to grow substantially on account of the less pressure required to bind to the substrate and their improved adhesion properties. Industrial application is expected to witness steady growth owing to initiatives undertaken by the governments of emerging economies to promote manufacturing in the countries. The use of silicone sealants is expected to grow in other applications such as cosmetics, home appliances, electronic devices, and others over the forecast period.

Silicone Sealants Market Report Highlights

• Thermoset or heat cured is estimated to be the fastest growing application, in terms of volume, with a CAGR of 5.8% from 2023 to 2030
• In terms of volume, the automotive application segment is expected to grow at a CAGR of 5.4% during the forecast period, owing to the increasing use of silicone sealants in automotive electronics
• Construction application segment accounted for a revenue share of 60.2% in 2022, considering the increasing global construction output
• The room temperature vulcanizing (RTV) segment held a revenue share of 65.1% in 2022. The share is attributable to its increasing demand in applications where high heat resistance is required
• The players in the silicone sealants industry are integrated across various stages of the value chain. For instance, Wacker Chemie AG is a raw material supplier, manufacturer, and distributor of various silicone sealant products

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