Global Silicone Sealants Market 2018-2022
About Silicone Sealants
Silicone sealants are chemical products that are mainly used to fill joints or gaps to provide a barrier between many types of materials flowing within the structures.
Technavio’s analysts forecast the global silicone sealants market to grow at a CAGR of 5.57% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global silicone sealants market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of silicone sealants.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Silicone Sealants Market 2018-2022
Technavio recognizes the following companies as the key players in the global silicone sealants market: 3M, Arkema, DowDuPont, H.B. Fuller, Shin-Etsu Chemical, and Wacker Chemie
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in R&D activities. The growing innovation and product development in silicone sealants are expected to foster the demand for silicone sealants during the forecast period. The vendors such as 3M, Henkel, and DowDuPont have increased their R&D activities for the production of silicone sealants. The growing innovation from the developed countries such as the US, Germany, France, and the UK is also expected to augment the market growth.”
According to the report, one of the major drivers for this market is Growing demand from construction industry. Silicone sealants are used in the construction industry for reliable, flexible, and waterproof joints in a broad range of applications. They are used for a wide range of applications in the construction industry ranging from small domestic renovations and skyscrapers to river-spanning bridges.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. The main raw material used for the production of silicone sealants are silicones. Silicon metal is the main raw material used for the production of silicones. The polymers of silicone class consist of siloxane and two or more organic compounds combined to exhibit desired physical and chemical properties. The fluctuations in the raw material cost of silicones are expected to hinder the growth in the global silicone sealants market during the forecast period.
3M, Arkema, DowDuPont, H.B. Fuller, Shin-Etsu Chemical, and Wacker Chemie