What Fueled The Previous Growth In The Silicone Adhesives Market?
The silicone adhesives market has seen considerable growth due to a variety of factors.
• In recent times, there has been robust growth in the market size of silicone adhesives. The prediction is that the market will escalate from $2.17 billion in 2024 to $2.33 billion in 2025, marking a compound annual growth rate (CAGR) of 7.3%.
The expansion in the preceding years is tied to factors such as the burgeoning demand for lightweight substances, a swell in electronics production, the escalating use of biocompatible silicone adhesives in the medical devices sector, and an increase in the demand for renewable energy as well as growth in the aerospace industry.
What Is The Expected Growth In The Silicone Adhesives Market Size Evolve over the Forecast Period?
The silicone adhesives market is expected to maintain its strong growth trajectory in upcoming years.
• The silicone adhesives market is projected to witness significant growth in the coming years, reaching $3.05 billion by 2029 with a compound annual growth rate of 6.9%.
Factors contributing to this growth in the predicted period include an increase in electric vehicles, a surge in the demand for sustainable construction materials, the expansion of 5g and electronics, technological enhancements in adhesive formulations, and rising industrial automation and robotic systems. Key trends anticipated during this forecast period encompass a move towards eco-friendly adhesives, advancements in high-temperature applications, the rising trend of miniaturized electronics, customization, and specialty adhesives, along with integration with intelligent materials.
What Main Forces Are Fueling Expansion In The Silicone Adhesives Market?
The growth of the silicone adhesives market is anticipated to be fueled by the burgeoning construction industry. The term construction industry encompasses the processes of planning, designing, building, and maintaining various kinds of structures, involving a myriad of trades and technologies to ensure safety and functionality. The boom in construction is propelled by factors such as urbanization, growing population needs, and governmental investments in infrastructure, leading to a surge in the requirements for new infrastructures such as buildings, roads, and facilities to back economic growth and elevate living conditions. Silicone adhesives are extensively utilized in the construction sector owing to their exceptional flexibility, resistance to weather, and powerful bonding abilities, making them perfect for sealing joints and bonding varying building materials. For instance, as per the Australian Bureau of Statistics, an Australia-based government department, the value of construction work in June 2024 amounted to $33,815.0 million, showing a hike from $32,443.2 million in June 2022. Consequently, the expanding construction industry is stimulating the growth of the silicone adhesives market.
What Are The Primary Segments In The Global Silicone Adhesives Market?
The silicone adhesivesmarket 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
Subsegments:
1) By Oil-Immersed Reactor: Single-Phase Oil-Immersed Reactor, Three-Phase Oil-Immersed Reactor
2) By Air Core Dry Reactor: Single-Phase Air Core Dry Reactor, Three-Phase Air Core Dry Reactor
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What Trends Are Reshaping The Future Of The Silicone Adhesives Market?
Leading firms in the silicone adhesives market are concentrating on creating innovative solutions, such as soft elastomeric silicone adhesives, for the purpose of attaching medical devices. Known for its flexibility, cushioning, and delicate yet robust bonding ability, soft elastomeric silicone adhesive is widely utilized in the fields of medicine, electronics, and wearable applications due to its gentle effect on the skin. For instance, in February 2023, DuPont de Nemours, Inc., an American chemical corporation, introduced the Liveo MG 7-9960 Soft Skin Adhesive. This is a silicone-based adhesive meant for use in the medical realm which provides soft adhesion suitable for sensitive skin, high degree of flexibility, and prolonged wearability, thereby proving to be perfect for wound care, wearable devices, and varied medical tapes. Additionally, this adhesive aids moisture control, thereby curtailing skin irritation.
Who Are the Key Players In The Silicone Adhesives Market?
Major companies operating in the silicone adhesives market are:
• 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.
What Is The Most Dominant Region In The Silicone Adhesives Market?
Asia-Pacific was the largest region in the silicone adhesives market in 2024. The regions covered in the silicone adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
