- Demand in Construction Sector Will Drive Silicone Adhesives Sales in China and India
- The latest report by Fact.MR on global silicone adhesives market presents in-depth analysis of various factors such as drivers and restrains that are expected to determine the future of the market. The report also divulges into compelling insights about regional outlook and trends prevalent globally that will shape consumer demand through the assessment period.
NEW YORK, Sept. 16, 2021 /PRNewswire/ -- The global silicone adhesives market is expected to witness surge in demand in the coming years owing to rising production of electric vehicles in Europe, China, and the U.S. Glass bonding, exterior trim, interior trim, structural metal bonding, and structural fiber reinforced plastic bonding are a few applications of silicone adhesives in the automotive industry.
Construction industry also will continue exhibiting high demand for silicone adhesives through the assessment period, from 2021 to 2031. Silicone adhesives are popular due to their excellent conductive properties, which paves scope for increasing application in the electronics sector.
Despite consistently rising demand from diverse industries, sales of silicone adhesives plummeted amidst restrictions imposed to contain COVID-19 outbreak. Suspension of operation across construction and automotive industries, besides various manufacturing units had adverse impact on silicone adhesives market.
However, the market is expected to recover post COVID-19, driven by increasing production of electric vehicles. According to the International Energy Agency, sales of electric car reached 2.1 million in 2019, which showcased a 6% hike as compared to the year before.
China is expected to offer substantial growth opportunities for silicone adhesives market during the forecast period as home to one of the largest manufacturing sectors in the world. Also, surging vehicle production is expected to seal China's dominance in the East Asia silicone adhesives market.
The country also is investing significantly in construction activities to steer infrastructural expansion. This is another factor supporting sales of silicone adhesives in the country.
"Some developed markets are inching closer to saturation. Consequently, leading silicone adhesives manufacturers are focusing on uncovering growth prospects across emerging economies. The booming construction sector of these countries offer lucrative prospects for sales of silicone adhesives," says the Fact.MR analyst.
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The global silicone adhesive market is partially consolidated in nature. Companies operating in the market are focusing on expanding their geographic footprint by developing innovative products and penetrating into emerging economies.
For instance, H.B. Fuller added Advantra Warrior to its profile and turn its adhesive line versatile with its unique polymer technology that exhibits unparalleled resistance for extreme temperature. The company is aiming to offer Advantra Warrior as a solution for packaging industry.
Similarly, Dow launched a silicone adhesive solution named as DOWSIL EA-4700 CV that has the ability to cure in temperature room at a substantial speed. These adhesives are known to offer remarkable adhesion for metals and plastics in electronics assembly.
Some of the key layers operating in the global silicone adhesive market as profiled by Fact.MR are:
Avery Dennison Corporation
Delo Industrial Adhesives LLC
H.B. Fuller Company
Henkel AG & Co. KGaA
Illinois Tool Works Inc.
Momentive Performance Materials
Shin-Etsu Chemical Co., Ltd.
Wacker Chemie AG
More Insights on the Silicone Adhesive Market
Fact.MR provides an unbiased analysis of the silicone adhesive market presenting historical period demand data (2016-2020) and forecast period from 2021 to 2031. The study divulges into compelling insights on the silicone adhesive market with detailed segmentation on the basis of:
Automotive & Transportation
Electrical & Electronics
Oceania Middle East & Africa (MEA)
Key questions Covered in the Silicone Adhesive Market Report
The report offers detailed insights into silicone adhesive demand outlook for 2021-2031
The market study also highlights projected sales growth for silicone adhesive market between 2021 and 2031
Silicone adhesive market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
Silicone adhesive market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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