Silicone sealants offer excellent chemical and thermal stability while also providing energy savings, which helps in lowering greenhouse gas emissions. The global silicone sealants market is projected to register a CAGR of 4.2% from 2019-2027, according to a report from Trends Market Research.
The construction sector is one of the major drivers of the silicone sealants market. Strong economic growth and increasing per capita incomes among consumers in developing countries have resulted in increased demand for construction projects—and thus silicone sealants—in these regions. In addition, silicone sealants are reportedly seeing increasing demand in the construction industry due to their superior characteristics when compared to other sealant chemistries, such as polyurethane, polysulfide, and acrylic.
By curing method, alkoxy silicone sealants are dominating the silicone sealant market. The use of acetoxy sealants in glass insulation is also creating demand.
Advancements in technology and the growing concern over the use of non-eco-friendly products have added to the growth of the silicone sealants market. Large manufacturing bases in developed and developing countries, coupled with the booming construction sector, have further contributed to market demand. While premium prices can somewhat restrict the market for silicone sealants in countries with lower per capita incomes, the market is still expected to show a high growth rate through 2027 in both developing and under-developed countries.
Manufacturers of silicone sealants are experiencing intense competition due to the presence of many large multinational companies with broad product profiles. As a result, companies are focusing on R&D to develop new products with improved efficiency to attract more customers and thereby increase their market share.
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