Silicone Adhesives Market by Type (One-Componant, Two-Componant), Technology (PSA, Non-PSA) End-Use Industry (Building & Construction, Transportation, Medical, Electrical & Electronics), and Region - Global Forecast to 2022
Two-component is the fastest-growing type of silicone adhesives
The market size of silicone adhesives was estimated at USD 2.18 billion in 2017 and is projected to reach USD 2.95 billion by 2022, at a CAGR of 6.24% from 2017 to 2022. Two-component is the fastest-growing type segment of silicone adhesives because of its high flexibility and strong adhesion to wide range substrates. These adhesives cure rapidly at room temperature, generally forming a skin within minutes while becoming tack-free within few minutes to hours and getting fully cured within 24 hours.
Medical is projected to be the largest end-use industry of silicone adhesives market by 2022
Silicone adhesives are used in various end-use industries such as transportation, building & construction, medical, electrical & electronics, and others. However, by 2022, medical is forecast to be the most dominant end-use industry, driven by the rising incidences of wound infections and the increasing awareness regarding the advanced technologies in the market. Government initiatives in the form of grants & funds and technological advancements in medical procedures are leading to new and innovative products being launched.
Rising demand from Asia Pacific is the major driver for silicone adhesives market
In 2016, Asia Pacific accounted for the largest market share, in terms of both volume and value. It is projected to register the highest CAGR of 7.40% between 2017 and 2022, in terms of value. The Asia Pacific silicone adhesives market is driven by the high economic growth and heavy investments in industries such as transportation, building & construction, and manufacturing. Growing industrialization, increasing middle-class population, increasing infrastructure development, and rise in purchasing power of consumers have led to the growth in the manufacturing of silicone adhesives in the region.
Extensive primary interviews have been conducted and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.
Breakup of primary interviews:
• By Company Type: Tier 1 – 50%, Tier 2 – 25%, and Tier 3 – 25%
• By Designation: D Level – 42%, C Level – 16%, and Others – 42%
• By Region: North America – 17%, Europe – 25%, Asia-Pacific – 50%, South America and Middle East & Africa – 8%
Key companies profiled in this report are 3M Company (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Henkel AG & Company (Germany), Avery Dennison Corporation (US), and Dow Corning Corporation (US).
The silicone adhesives market report covers segmentation by type (one-component and two-component), by end-use industry (transportation, building & construction, medical, electrical & electronics, and others), by technology (PSA and Non-PSA) and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America). The end-use industry segment is further analyzed for each country in the respective regions.
Reasons to buy the Report
From an insight perspective, this research report focuses on various levels of analyses—industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on silicone adhesives offered by top players in the silicone adhesives market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the silicone adhesives market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for silicone adhesives across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the silicone adhesives market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the silicone adhesives market