The silicone adhesives market has seen robust growth in recent years, projected to grow from $2.03 billion in 2023 to $2.17 billion in 2024, at a CAGR of 6.9%. This growth in the historical period is attributed to rising demand for lightweight materials, the expansion of electronics manufacturing, increasing use of biocompatible silicone adhesives in medical devices, and a growing demand for renewable energy and aerospace industry expansion. The silicone adhesives market is expected to further grow to $2.85 billion by 2028, with a CAGR of 7.0%. Factors contributing to growth in the forecast period include the rise of electric vehicles, increasing demand for sustainable building materials, the expansion of 5G and electronics, advancements in adhesive formulations, and a growing trend toward industrial automation and robotic systems. Major trends anticipated include a shift toward eco-friendly adhesives, advancements in high-temperature applications, the growing demand for miniaturized electronics, increased customization and specialty adhesives, and integration with smart materials.
Global Silicone Adhesives Market Key Driver
The expansion of the construction industry is projected to drive the silicone adhesives market. The construction industry involves the planning, design, and maintenance of various structures, responding to urbanization, population growth, and government infrastructure investments. Silicone adhesives are favored for their flexibility, weather resistance, and strong bonding properties. In August 2024, the Australian Bureau of Statistics reported that building work totaled $33,815 million in June 2024, up from $32,443.2 million in June 2022. Thus, the construction industry's growth is fueling the silicone adhesives market.
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Global Silicone Adhesives Market Segments
The silicone adhesives market covered in this report is segmented –
1) By Type: One Component, Two Component
2) By Technology: Pressure-sensitive Adhesives (PSA), Non-pressure Sensitive Adhesives (non-PSA)
3) By End-user: Building And Construction, Transportation, Medical, Electrical And Electronics, Other End Users
By Geography:The regions covered in the silicone adhesives market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the silicone adhesives market in 2023.
Major Silicone Adhesives Industry Players
BASF SE, Dow Corning Corporation, 3M Company, Henkel AG & Co. KGaA, Shin-Etsu Chemical Co. Ltd., Sika AG, Wacker Chemie AG, Avery Dennison Corporation, Nitto Denko Corporation, Elkem Silicones, H.B. Fuller Company, Momentive Performance Materials Inc., Tesa SE, Huntsman Corporation, CHT Group, Delo Industrial Adhesives LLC, Rogers Corporation, Novagard Solutions Inc., McCoy Soudal, Avioparts, American Sealants Inc., Silicone Solutions Inc., Master Bond Inc.
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Silicone Adhesives Market Overview
Silicone adhesives are versatile bonding agents made from silicone polymers, known for their flexibility, durability, and resistance to extreme temperatures. These adhesives provide strong seals and bonds across a wide range of surfaces, including metal, plastic, glass, and ceramics. They are often used in automotive, electronics, and construction industries due to their moisture, chemical, and UV resistance.
Silicone Adhesives Global Market Report 2023 provides data on the global silicone adhesives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The silicone adhesives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
