Press Release

Widespread Use in Construction Industry to Drive the Global Silicone Adhesives Market

Growing end-use industries, increasing use due to versatile properties, rising demand of silicone adhesives for electrical applications and high demand in the emerging economies, to drive the Global Silicone Adhesives Market through 2023

According to TechSci Research report, Global Silicone Adhesives Market, By Type (One-Component and Two-Component), By Technology (PSA and Non-PSA), By End-Use Industry (Building & Construction, Electrical & Electronics, Transportation, Medical and Others), By Company and By Geography, Forecast & Opportunities, 2023, Global Silicone Adhesives Market is projected to reach USD 3.12 Billion by 2023, at a CAGR of over 6% between 2018 and 2023 owing to growing various industries like building, transportation, medical, and others. Further, the increasing use of silicone adhesives due to their versatile properties such like flexibility and strong adhesion to a variety of surfaces like metals, glass, rubbers, plastic are expected to drive the growth of the market during the forecast period. The rising demand of silicone adhesives for electrical applications coupled with high demand from emerging economies will ensure robust growth of the market by 2023.

Moreover, the increasing demand for silicone adhesives in the construction industry due to their superior chemical as well as physical properties over other adhesives is anticipated to drive the growth of the market in the next five years. Additionally, the rising need for innovations in design in the automotive industry will propel the demand of Silicone Adhesives by 2023.

Based on type, the market has been categorised into one-component and two-component segments. In 2017, the one-component segment dominated the market and is expected to maintain its dominance over the next five years as well owing to high flexibility and strong adhesion properties and its various applications in building & construction and transportation industries. Moreover, these adhesives are being widely used in various end-use industries like transportation, medical, electrical & electronics and building & construction among others

DOW Corning, Momentive Performance Materials, 3M, Illinois Tool Works (ITW), H.B. Fuller, Shin-Etsu etc, are major companies operating in the Global Silicone Adhesives Market.

Asia-Pacific region dominated the market in 2017 and is expected to maintain its position during the forecast period owing to flourishing end-use industries like construction and building, electronics etc where there is growing demand of silicone adhesives due to their versatile physical and chemical properties in constituent regions like India, Japan and china.

“The Silicone Adhesives Market is anticipated to witness robust growth in the coming years as a result of widespread adoption of due to the plethora of advantages offered by silicone adhesives over others. Moreover, the growing utilization of UV curing technology and thermosets in the manufacturing is likely to enhance the overall production speed, improve resistance to scratches and enhance the bonding, which in turn is projected to drive the Silicone Adhesives market through 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Silicone Adhesives Market, By Type (One-Component and Two-Component), By Technology (PSA and Non-PSA), By End-Use Industry (Building & Construction, Electrical & Electronics, Transportation, Medical and Others), By Company and By Geography, Forecast & Opportunities, 2023 has evaluated the future growth potential of Global Silicone Adhesives market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Silicone Adhesives Market.

 

 

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