Market Research Report
Silicone Adhesives - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||614618|
|Published||Content info||148 Pages
Delivery time: 1-2 business days
|Silicone Adhesives - Global Market Outlook (2017-2026)|
|Published: February 1, 2018||Content info: 148 Pages||
According to Stratistics MRC, the global silicone adhesives market is accounted for $2.14 billion in 2017 and is expected to reach $3.75 billion by 2026 growing at a CAGR of 6.4% from 2017 to 2026. The growth of this market is mainly driven by increased demand for silicone adhesives in various end-use industries owing to their superior properties, such as high flexibility, gap filling capability, long durability, excellent UV stability and high temperature resistance. The major factors for market growth are growing usage of silicone adhesives in automotive, electronics and aerospace & defense sectors, technological developments of silicone adhesives, innovative products in the medical industry, and rising demand from emerging regions. However, volatile raw material prices and sluggish growth in developed countries hampers the growth of this market to some extent.
Silicones have special properties compared to other adhesives based on organic polymers because silicones have a different chemical backbone. The properties of silicones remain elastic at low temperatures along with being extremely stable even at continuous exposure in a shorter span of time. Bonds made with silicones using small mechanical loads allow it to be used as sealants. Due to their low surface tension they cannot be painted. They are used for bonding metal when the low bond strength is offset by the higher flexibility and resistance to low temperatures.
In 2017, one-component segment dominated the global silicone adhesives market due to increasing applications in transportation and construction industries. Typical one-component silicone adhesives applications include bonding glass and ceramics, metals, plastics, concrete, and brickwork. Special formulations are used in aircraft and aerospace applications. Two-component silicone adhesives are used extensively in the assembly of windows.
The building & construction segment contributed majority of share toward the silicone adhesives market during 2017, due to the rising adoption of silicone sealants for construction purposes. Automotive is expected to emerge as the fastest growing segment on account of increasing investment by major companies in countries such as China, India, Vietnam and Thailand that posses favourable market conditions such as inexpensive labour and governmental incentives.
Asia-Pacific leads the silicone adhesives market globally with the biggest market share and is expected to grow with a high CAGR among the other regions due to the high demand for silicone adhesives from the growing construction industry and the automotive industry in developing countries. Growing demand from end use industries, increased production from new players that are investing in developing new products and application areas for silicone adhesives are expected to augment market growth in coming years. China is likely to be the largest and India is projected to be the fastest growing markets in Asia Pacific Silicone Adhesives market.
Some of the key players profiled in global Silicone Adhesives market are 3M Company, ACC Silicone Ltd., Adhesives Research, Inc., Avery Dennison Corporation, Bluestar Silicones (Acquired By Elkem), Delo Industrial Adhesives LLC, Dow Corning Corporation, Dymax Corporation, H.B. Fuller, Henkel AG & Company, Hernon Manufacturing, Inc., KCC Silicone, Masterbond, Momentive Performance Materials Inc., Panacol-Elosol GmbH, Quantum Silicones, Sika, Threebond Holdings Co., Ltd. And Wacker Chemie AG.