Construction Silicone Sealants Market by Type (One component and Two-component), Curing Type (Acetoxy, Alkoxy, and Oxime), Application (Residential, Commercial, and Industrial): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 3.7 billion mark in 2022 and is expected to hit US$ 5.4 billion by 2030, recording a CAGR of 5.0% during the forecast period.
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Construction silicone sealants market has been significantly growing with the increasing their use in residential and commercial construction
The construction silicone sealants market is mainly driven by growing their demand from the residential and commercial construction activities. In addition, rising infrastructural activities and increasing construction of roads, rail, etc. is also boosting the demand for construction silicone sealants. The acetoxy segment is expected to pace up with the growing their use in different applications. Further, other segments such as alkoxy and oxime are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, curing type, application, and geography. By type, the market is further segmented into one component and two-component. On the basis of curing type, the market is segmented into acetoxy, alkoxy, and oxime. On the basis of application, the market is segmented into, residential, commercial, and industrial. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Strong growth of the market in Asia Pacific region
The strong growth of the market in Asia Pacific region is attributed to the growing construction activities in the region. Rising residential and commercial construction activities, increasing infrastructural development, etc., encourage the utilization of construction silicone sealants. Further, the increasing population and rapidly growing commercial sector across the region are driving the construction sector's growth in the region. This, in turn, is creating demand for construction silicone sealants.
Growing infrastructural and construction activities in developing countries
Silicone sealants are used in construction joints to ensure important structural materials stay in place. They also add flexibility to building structures, allowing materials to absorb stress and movement caused by wind or earthquakes. The use of silicone sealants in buildings also make buildings more energy efficient by preventing humidity and hot or cold air from coming inside through joints and cracks. Further, there are rising construction activities due to increasing population and rapidly growing commercial sector across different developing countries. This is driving the construction sector's growth. The construction sector in Indonesia has been a growth driver in the past few years. Further in India, the growth in the construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. Hence, the growing infrastructural and construction activities in developing countries drives the demand for construction silicone sealants
Recent strategic developments in construction silicone sealants market
The construction silicone sealants market has undergone several significant developments, and a few of these have been mentioned below:
- In 2019, SIKA AG acquired manufacturer of silicone sealants and adhesives in China. With this takeover, Sika AG has expanded its target markets industry and sealing & bonding presence in China and the Asia Pacific region.
- In 2020, WACKER launched renewables-based silicone sealants. With ELASTOSIL eco brand launched in Europe, the company is able to offer products manufactured using bio-based methanol to silicone sealant suppliers.
The construction silicone sealants market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Dow, Wacker Chemie AG, Elkem ASA, Momentive, and Shin-Etsu Chemical Co. Ltd. are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Construction silicone sealants related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Applications of construction silicone sealants
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type
- One component
- Two-component
- Curing Type
- Acetoxy
- Alkoxy
- Oxime
- Application
- Residential
- Commercial
- Industrial
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Dow
- Wacker Chemie AG
- Elkem ASA
- Momentive
- Shin-Etsu Chemical Co. Ltd.
The List of Companies
- Dow
- Wacker Chemie AG
- Elkem ASA
- Momentive
- Shin-Etsu Chemical Co. Ltd.