DUBLIN, Dec. 22, 2017 /PRNewswire/ --
The "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" report has been added to Research and Markets' offering.
The silicone adhesives market size is 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% between 2017 and 2022.
The market is driven by the widespread use of silicone adhesives in different end-use industries, namely, building & construction, transportation, medical, and others. The high demand for silicone adhesives in Asia Pacific also drives the market.
The silicone adhesives market, by type consists of one-component and two-component segments. The one-component segment has a larger market share due to its high flexibility and strong adhesion to wide range substrates such as glass, plastics, metals, rubbers, etc. Due to this, it finds applications in building & construction and transportation industries.
Silicone adhesives are used in various end-use industries, the major being building & construction, transportation, medical, and electrical & electronics. Among these, the medical end-use industry has a potential for growth in the Asia Pacific region. The medical end-use industry has the largest market size in Asia Pacific, in terms of both value and volume.
This end-use industry is driven by several factors, including the rising incidences of wound infections and the increasing awareness regarding the advanced technologies in the market. Government initiatives in the form of grants and & funds and technological advancements in medical procedures owing to which new and innovative products are being launched are the other major driving factors for the market.
Among regional segments, Asia Pacific accounts for the major share of the overall silicone adhesives market, in terms of both value as well as volume. The silicone adhesives market has been witnessing high growth, owing to the growth in end-use industries such as building & construction, transportation, and medical. Many research institutions and manufacturers are taking initiatives and investing heavily in technological developments of silicone adhesives to improve the properties and enhance their use in various applications.
Growing use of silicone adhesives in diverse end-use industries along with high demand for these adhesives in Asia Pacific are some of the factors driving the market. High temperature resistance, excellent UV stability, long durability, and excellent gap filling capabilities are the major factors driving the silicone adhesives market. However, rise in raw material prices is a major restraint for the growth of the market.
Price and availability of raw materials are the key factors for adhesive manufacturers for determining the cost structure of their products. Raw materials used by the silicone adhesives industry include resins, tackfiers, and refined petroleum products. Most of these raw materials are vulnerable to fluctuations in commodity prices.
Continuous development strategies adopted by major players, including new product launches, investments & expansions, mergers & acquisitions, and partnerships, to expand their global presence and increase their market shares are expected to drive the silicone adhesives market. 3M Company (US), Wacker Chemie AG (Germany), Dow Corning Corporation (US), and Momentive Performance Materials Inc. (US) are some of the major players in silicone adhesives market.
- Growing USE of Silicone Adhesives in Various Industries
- High Demand for Silicone Adhesives in APAC
- Stagnant Growth in Developed Countries
- Conductive Properties for Electrical Applications
- Surging Demand in Developing Countries
- Stringent Regulations Reshaping Silicone Adhesives Market
- ACC Silicone Ltd.
- Adhesives Research, Inc.
- Avery Dennison
- Benson Polymers
- Bluestar Silicones (Acquired By Elkem)
- Delo Industrial Adhesives LLC
- DOW Corning
- Dymax Corporation
- H.B. Fuller
- Hernon Manufacturing, Inc.
- Illinois Tool Works (ITW)
- KCC Silicone
- Momentive Performance Materials
- Panacol-Elosol GmbH
- Permabond LLC
- Quantum Silicones
- Threebond Holdings Co., Ltd.
- Wacker Chemie
For more information about this report visit https://www.researchandmarkets.com/research/2rkgjl/silicone?w=5
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