Dublin, June 17, 2021 (GLOBE NEWSWIRE) — The “Silicone Adhesives and Sealants Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The global silicone adhesives and sealants market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period. The major factor driving the growth of the market studied is rising demand from construction industry.
Stagnancy in growth of developed countries is likely to hinder the markets growth. Conductive properties of silicones for electrical applications are likely to create opportunities for the market in the coming years.
Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Usage in the Automotive Industry
- Automotive segment is one of the largest end users in the silicone adhesives market. There is a need to improve the efficiency of automotive components to increase performance.
- An automotive essentially consists of components, such as pneumatic mounts, bushes, etc. The efficiency of automotive components is increased significantly by the usage of silicone adhesives and sealants.
- In 2019, the automotive production witnessed a decline owing to trade war pf US-China and other political reasons. This is expected to continue in the first half of 2020, owing to the weak sales in second half of 2019. However, the automotive industry is likely to recover by the end of 2020.
- In addition, the development of electric vehicles may continue to gain momentum in the upcoming years especially in Europe, China. and United States, where many government programs are promoting a move away from fossil fuels owing to the various environmental concerns.
- Owing to all these factors, the market for silicone adhesives and sealants is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
- China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. “Automobile Mid and Long-Term Development Plan”, was released in 2017, with an objective to make China a strong auto power in the next ten years.
- China’s 13th Five Year Plan started in 2016, as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China’s construction industry developed rapidly in the recent past, due to the central government’s push for infrastructure investment, as a mean to sustain economic growth.
- Due to all such factors, the market for silicone adhesives and sealants in the region is expected to have a steady growth during the forecast period.
The silicone adhesives and sealants market is partially consolidated in nature. Some of the major players in the market include H.B. Fuller Company, Henkel AG & Co. KGaA, Momentive Performance Materials, Sika AG, and Wacker Chemie AG, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Rising Demand from Construction Industry
4.1.2 Other Drivers
4.2.1 Stagnancy in Growth of Developed Countries
4.2.2 Impact of COVID-19 Pandemic
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Analysis
5 MARKET SEGMENTATION
5.3 End-user Industry
5.3.2 Automotive and Other Transportation
5.3.4 Electrical and Electronics
5.3.5 Other End-user Industries
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Avery Dennison Corporation
6.4.3 Delo Industrial Adhesives LLC
6.4.5 H.B. Fuller Company
6.4.6 Henkel AG & Co. KGaA
6.4.7 Illinois Tool Works Inc.
6.4.8 Momentive Performance Materials
6.4.9 Shin-Etsu Chemical Co., Ltd.
6.4.10 Sika AG
6.4.11 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Conductive Properties of Silicones for Electrical Applications
For more information about this report visit https://www.researchandmarkets.com/r/42tlfn