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Author(s): Global Silicone in Construction Industry Market Overview:
Global silicone in construction industry market was valued at $5,748 million in 2015, and is expected to reach $7,739 million by 2022, registering a CAGR of 4.3% during the forecast period. Silicones are also known as polysiloxanes consisting of a mixture of alternating silicon and oxygen atoms. Silicones are heat-resistant and rubber-like compounds, which are increasingly embraced in sealants, adhesives, lubricants, medicine, cooking utensils, and thermal & electrical insulation applications. Moreover, silicon rubbers are widely acknowledged in construction industry owing to its application of sealing joints, gaps, crevices, and buildings. In addition, silicone grease in buildings are deployed in O-rings in brass, taps, and valves, thereby preventing sticking of lime to the metal.
Market Segmentation
The global silicone in construction industry market is segmented based on type and application and end-use. On the basis of type, the market is segmented into fluids, elastomers, resins, and gels. By application, the market is categorized into sealants, adhesives, and coatings. By end-use the market is segmented into roofing, flooring, sealing, and others (plumbing and laminating).
The demand for silicone in construction industry has increased especially in the structural applications such as factory and field glazing owing to the sealing characteristics of silicone adhering to glass, reflective glass, anodized aluminum, granite, and paint. For instance, silicones exhibit a medium modulus, which offers an extremely high tensile adhesion strength of 150 psi. In addition, silicone used as sealants in buildings is an excellent product for general weatherproofing applications, including perimeter sealing of door and window framing. Moreover, its characteristics as a neutral, one-part adhesive/sealant for new construction and renovation applications drive the global silicone in construction industry market. Moreover, the demand for silicone elastomeric coating for removal of failed sealants and revitalized appearance of buildings, acts as a promising opportunity for the growth of the global silicone in construction industry market. Furthermore, increase in usage of silicone elastomers in sealants and structural glazing applications majorly drive the market growth. Thus, silicone elastomers segment is expected to witness significant growth rate in the market during the forecast period.
The global silicone in construction industry market offers various opportunities to the market players, owing to rapid growth in the global economy and disposable incomes. Increase in use of silicone in construction industry as well as growth in construction industry especially in China and India are some prominent aspects that augment the growth of the market. In addition, silicone elastomers are expected to witness rapid adoption in architectural applications owing to its properties such as ozone and UV resistance, high thermal conductivity, exceptional weatherability, easy to fabricate or process, high gas and drug permeability, outstanding electrical insulating properties, and lower flammability. However, undefined regulatory guidelines and fluctuating silicone prices across Middle East and African countries, are some of the key elements anticipated to hamper the growth of the market during the forecast period.
Growth in demand for silicone sealants majorly in North America and Europe in residential and industrial applications such as bonding glass to the structural frames of the building as well as surface deterioration by reducing dirt pickup and diffusions of fluids acts as emerging factors for market growth. Moreover, increase in per capita disposable incomes in developing countries such as China, India, and Korea has increased the use of silicone in construction industry, thereby leading to unprecedented increase in demand for the silicone products (adhesives and coatings) globally.
Top Investment Pockets
Silicone sealants in construction industry offers the maximum market potential in the global silicone in construction industry market, owing to rapid growth of construction industry. Increased need for silicone sealants in construction industry for its higher elongation and lower strength characteristics makes it ideal for sealing joints and assemblies. Moreover, increasing construction activities, particularly in the BRIC region (Brazil, Russia, India, and China) is another factor anticipated to fuel the demand for silicone sealants as well. India and China have witnessed major development in the construction industry, owing to constant growth in economy and rise in living standards. The construction industry application segment is expected to register a significant CAGR during the forecast period. Furthermore, cheap labor and increasing government initiatives and positive outlook on construction and housing is increasing globally, and are the potential markets for silicones in construction industry.
Top Investment Pockets
Segment Review
The global silicone in construction industry market is segmented based on type and application, and end-use. On the basis of type, market is segmented into fluids, elastomers, resins, and gels. By application, the market is categorized into sealants, adhesives, and coatings. By end-use the market is segmented into roofing, flooring, sealing, and others. Others include plumbing and laminating. The silicone fluids segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. The silicone fluids segment is projected to grow at a significant CAGR of 4.2% during the forecast period.
Silicone in Construction Industry Market Share, By Type, 2015 (%)
Geographical Review
The global silicone in construction industry market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a considerable share of the total revenue in 2015, followed by North America and Europe. Developing economies in Asia-Pacific region such as Korea, China, and India are anticipated to witness a significant growth rate owing to growth of construction industry.
UK Silicone in Construction Industry Market Value, 2014-2022 ($Million)
Prominent players have largely invested in R&D activities to develop advanced products to cater to the requirements of the market. The key players operating in the global silicone in construction industry market include Silchem Inc, ICM Products, Inc, Speciality Silicone Products Incorporated, Wacker-Chemie GmbH, Evonik Industries AG, Hutchinson, Kemira Oyj, Quantum Silicones, Kaneka Corporation, and The Dow Corning Corporation.
Other players in the value chain (profiles not included in the report) include Mesgo S.P.A., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Reiss Manufacturing Inc., KCC Corporation, Shin-Etsu Chemical Co., Ltd., Momentive Performance Materials Inc., Ashland Incorporated, CRI-SIL Silicone Technologies, LLC, CSL Silicones Incorporated, and Elkay Silicones.
Key Benefits
- The report provides an extensive analysis of the current trends and future projections of the global silicone in construction industry market.
- It offers comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to understand the regional trends.
- The report includes the qualitative and quantitative analysis of the current market from 2014 to 2022 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
- Extensive analysis is conducted by following key product positioning and by monitoring the top competitors.
- The report provides extensive qualitative insights on the potential and niche segments or regions.
- The report provides key insights on strategic analysis of various companies and the value chain analysis of silicone in construction industry.
Silicone in Construction Industry Market Key Segments
By Type
- Fluids
- Elastomers
- Resins
- Gels
By Application
- Sealants
- Adhesives
- Coatings
By End-Use
- Roofing
- Flooring
- Sealing
- Others (Plumbing and Laminating)
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Australia
- Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- KSA
- South Africa
- Rest of LAMEA
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