Silicone Adhesives Market
Silicone Adhesives Market - Based on Type, Based on Technology, Based on End-use Industry & Global Region - Market Size, Trends, Opportunity, Historical Review and Forecast 2020-2025Request Sample Request Discount
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In the year 2019, the silicone adhesives market was valued at 2.7 billion USD and is projected to reach 3.55 billion USD by the year 2025 at a growth rate of 6.3%. The demand for silicone adhesives is driven by the increased use of silicone adhesives in different end-use industries such as building and construction, transportation, and medical industry etc. There is a high demand for the silicone adhesives market in the Asia Pacific region.
The market for silicone adhesives consists of one component and two components. The one component has a larger market share due to its high flexibility and strong adhesion to a wide range of substrates such as glass, plastics, metals, and rubbers. As a result of this, it finds its application in the building and construction, and transportation industries. Many end-use industries use silicone adhesive; the primary ones are building and construction, transportation, medical, electrical, and electronics. The medical sector has the highest potential for growth in the Asia Pacific region in terms of value and volume. It is driven by many factors, including rising incidences of wound infections and increasing awareness of advanced technologies in the market. New products are being launched due to government initiatives in the form of grants and funds. Thus, these are the major driving factors for the silicon adhesives market. The Asia Pacific holds the major share of the overall silicone adhesives market among regional segments in terms of both, value and volume. Due to the growth in the end use industries, the silicone adhesives market has witnessed high growth. Such end use industries include building and construction, transportation and medical. Many research institutions take many initiatives and they are heavily investing in technological developments of silicone adhesives. This is to improve the properties and their use in different applications. The silicone adhesives are widely used in end-use industries along with high demand for these adhesives from the Asia Pacific region is the factors driving the growth of this market. Some of the critical factors driving the silicone adhesives market's growth are its high-temperature resistance, excellent UV stability, long durability, and excellent gap filling properties. But the increase in the prices of raw materials is hindering the growth of this market across the globe drastically. The key factors that determine the product's cost structure are the price and availability of raw materials. There are many strategies adopted by key players, including new product launches, investments and expansions, mergers and acquisitions, and partnerships. This is to expand their global footprint and increase the market share. The largest end-users in the silicone adhesives market is the automotive segment, and there is a need to improve the efficiency of automotive components, increasing their performance. An automotive assembly consists of key components such a pneumatic mounts, bushes etc. Due to the use of silicone adhesives, the efficiency of automotive components has increased drastically. As a result of these factors, the silicone adhesive market will grow rapidly in the coming years. A material that holds two surfaces together is known as adhesive, and it should lubricate as cause adhesion between surfaces by developing bonds after application and should remain stable without reacting to the substrates or emissions. Polymeric materials, which are both naturally occurring, and synthetic are the raw materials for adhesives. Silicone adhesives are primarily used as a part of commercial and home construction. The silicone glue uses an adhesive or as a sealant on materials exposed to extraordinary climate conditions such as direct sunlight, rain, strong wind, and low temperatures. In terms of market share, Europe and North America are captured major portion of the market. However, the highest market share in 2020 was held by the Asia Pacific, and it is expected to be the fastest-growing market due to its high growth rate, increasing demand from growing industries, and future opportunities in developing countries such as Japan, India, and China. There are many features of silicones and the conductive ones for electrical applications are projected to create opportunities for the market in the near future.
Key Market Players
The key market players are:
- Dow Corning (USA),
- Wacker Chemie (Germany),
- Shin-Etsu (Japan),
- The 3M Company (USA),
- Henkel AG (Germany) and
- Avery Dennison (USA)
Based on Type
Based on Technology
Based on End-use Industry
- Building & Construction
- Electrical & Electronics
Based on Region
- North America (The U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, Turkey, Switzerland, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, South Korea, Vietnam, Philippines, Malaysia, Indonesia, Thailand, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Columbia, Argentina, Chile, and Rest of Latin America)
- Middle East & Africa (South Africa, Saudi Arabia, UAE, Oman, Egypt, and Rest of Middle East & Africa)
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