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Silicone adhesives are a type of glue that contains silicone and oxygen atoms together, while silicon sealants are gel-like substances in liquid form. The product offers resistance to moisture & weathering and can withstand highly acidic, primary chemical, or organic solvents. Thus, it is used in various applications, including building & construction, automotive & transportation, medical, electrical & electronics, consumer goods, and others. Home repair, maintenance, and glass sealing are the additional supporting applications for the silicone adhesives & sealants market.
Rapid growth in electric automobiles is driving the silicone adhesives & sealants market, as the product can be used for bonding and sealing. Electric vehicles have control units, safety systems, connectivity controllers, and aluminum, steel, or plastic parts. Manufacturers often use cure-in-place liquid adhesives or sealants to protect these electronics and automotive parts. The product also remains elastic and flexible under extreme environmental stress, including temperature extremes and cyclic changes in humidity. All these factors further lead to an increase in the demand for the product.
Silicone adhesives & sealants emit toxic chemical gases that can harm human health and the environment. The product causes cancer and impacts the reproductive & developmental tendencies of the human. Additionally, some adhesives react with the substrate and are unsuitable for inhaling. Thus, the environmental protection agencies such as the U.S. Environmental Protection Agency are making more hurdles and restrictions on manufacturers. But there is more restraint for the market, such as the product having a high curing time, low resistance to temperature, and early aging. Thus, all these factors are anticipated to hinder the product's market growth.
The outbreak of Covid-19 has disrupted most of the global supply chain. There has been a transportation and logistics issue as the government imposed a lockdown. This deeply impacted the supply-demand side of the economy, and the closure affected many business financial and operational challenges. All these factors together impacted industries such as building & construction, automotive & transportation, medical, electrical & electronics, consumer goods, and others, leading to the lower demand for silicone adhesives & sealants.
The report will cover the following key insights:
Based on type, the silicone adhesives & sealants market can be segmented into one component two components. One-component silicone adhesives & sealants refer to the condition where mixing two different components is not required. Thus, this type of product is easier to use, making them more adaptable compared to two-component silicone adhesives & sealants. While two components of adhesives require mixing and it has thicker curing. Thus, one component is expected to dominate a higher market share during the forecasted timeframe.
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Asia Pacific's silicone adhesives & sealants market is expected to grow the fastest during the forecast period owing to the rapid growth in the building, construction, automotive & transportation industries. These industries are driven by the population in the region, which further will surge the market demand for the product.
The product demand in North America is increasing as the U.S holds a moderate number of key players, and the changing trend in consumer behavior has benefited the silicone adhesives & sealants market
Europe is a moderate consumer of automotive & transportation products. European countries such as the U.K. and Germany have the potential to create lubricate market growth. Additionally, Europe is expected to show moderate market growth during the forecast period. At the same time, Latin America and the Middle East are expected to grow moderately.
The report will include key players such as 3M, Wacker Chemie, Momentive Performance, Materials, DOW Corning, Shin-Etsu, Henkel, H.B. Fuller, Sika, Illinois Tool Works (ITW), Avery Dennison and Others
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