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The growing trend of Lightweight Vehicle in the Automotive and growing demand for electric vehicles will be driving the Silicone Sealants Market

HYDERABAD, TELANGANA, INDIA, January 11, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Silicone Sealants Market size is forecast to reach US$4.5 billion by 2027, after growing at a CAGR of 4.7% during 2022-2027. Silicone sealants are an adhesive of the liquid form used as a bonding agent, in building and construction, automobiles, electronic appliances, and others. Silicone sealants keep their elasticity at both high and low temperatures and are also resistant to other chemicals, moisture, and any weather. It is used as a connecting agent for automotive parts in a car engine. It is used as sealants for cable and sensors in electronic devices. Room temperature vulcanizing (RTV) is a silicone rubber compound widely used in the fields of bonding, sealing, potting, encapsulation, coating, and casting. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Silicone-Sealants-Market-Research-503669

Key takeaways:

This IndustryARC report on the Silicone Sealants Market highlights the following areas -

1. The Asia Pacific is expected to register a CAGR of 5.9% during the forecast period (2022-2027). The increasing demand for silicone rubber sealants for building and construction in Asian countries such as China, India, Japan, and South Korea is driving the market demand for Silicone sealants.

2. Silicone sealants are used for home repairs and maintenance, construction sealing and adhesion, glass and plastic bonding, and manufacturing of products in electronics, appliances, and automobiles is helping in the growth during the forecast period.

3. In the automotive industry, these sealants are used in bonding car gaskets, engine applications providing gap or sealing joints on your vehicle, they even function under even the most extreme temperatures and are highly resistant to UV, alcohol, dilute acids, and other corrosive fluids.

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Segmental Analysis:

1. The Acetoxy type segment accounted for around 32% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The factor that is helping in the growth of Acetoxy type Silicone sealants is building and construction in windows and door frames, kitchens-backsplashes, countertop sealing, bathrooms & bathtubs, and others.

2. Asia Pacific region held the largest share in the Silicone sealants market in 2020 up to 45%, owing to the presence of large Infrastructure projects in developing countries like China, India, Indonesia, and others. The comprehensive use of Silicone sealants in fixing glass indoor, windows, exterior, and interior decors is growing the demand for silicone sealants in building and construction sector.

3. The Room temperature vulcanizing (RTV) type segment accounted for approximately 28% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The Room temperature vulcanizing (RTV) is used to assemble the engine, sealing all kinds of leaks in the automotive sector to drive smoothly even in extreme environments owing to several properties like adhesiveness, water-repellency, and bonding, which makes the materials ideal for sealing.

4. The glass segment accounted for more than 18% of the market share in 2020 and is estimated to grow significantly during the forecast period. The increase in demand for glass in building and construction, aerospace, automobile, and others are fueling the market for Silicone sealants. In buildings and the construction industry, these silicone sealants are used for sealing glass windows in buildings, sealing gaps or cracks around windows, door frames, baseboards, glass decorative walls, and molding, glazing joints, kitchen, and bathroom glazing applications.

5. The Construction segment accounted for more than 35% of the market share in 2020 and is estimated to grow significantly during the forecast period. The usage of silicone sealants in construction due to phenomenal properties like UV resistance, electric, thermal and mechanical properties are helping in the growth of the silicone sealants market during the forecast period.

Competitive Landscape:

The top 5 players in the Silicone Sealants Industry are -

1. 3M Company
2. BASF
3. H.B Fuller company
4. Dow Silicones Corporation
5. RPM International, Inc.

Click on the following link to buy the Silicone Sealants Market Report:
https://www.industryarc.com/reports/request-quote?id=503669

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Polyurethane Sealants Market
https://www.industryarc.com/Research/Polyurethane-Sealants-Market-Research-500272

B. High-Temperature Adhesive and Sealants Market
https://www.industryarc.com/Research/High-Temperature-Adhesives-Sealants-Market-Research-502948

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