Pune, India -- (SBWIRE) -- 04/09/2019 -- The report on Silicone Adhesives and Sealants Market by type (one-component, two-component, and UV cured), technology (PSA, and non-PSA),end-user (building & construction, packaging, healthcare, electrical & electronics, construction, and automotive) trends analysis and forecasts up to 2024 studies the market sizes, key trends, Industry Analysis, Trends, Size, Share and Forecasts to 2024 and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Silicone Adhesives and Sealants Market is projected to grow at a CAGR in terms of value over the period of 2018-2024. The growth in the world market is primarily driven by a significant contribution by North America (Leading region) region to this market. the global silicone adhesives and sealants market are projected to grow at a CAGR of 6.1% over the forecast period of 2018-2024.

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Silicone Adhesives and Sealants Market: Industry Insight

Silicone adhesives and sealants are used for bonding metals when the higher flexibility and resistance to low temperatures balances the low bond strength. They are also inert to chemicals and have excellent resistance to moisture and weathering. Silicone adhesives and sealants are used in sealing glass, in commercial and home construction and in the manufacturing of a wide variety of durable goods, from automobiles to appliances due to its ability to withstand extreme temperatures.

Silicone Adhesives and Sealants Market: Drivers and Opportunities

The growing applications of silicone adhesives and sealants in the manufacturing industry as well as for commercial and residential purposes primarily drives the growth of the market. Silicone adhesives and sealants are used in the manufacturing of automobiles and electronic goods. It has the ability to withstand extreme temperatures that make it an ideal bonding agent for manufacturing durable goods. In addition, it is also effective for numerous automobile engine applications such as in-car gaskets that have a high-temperature environment. Moreover, the growing demand for lightweight vehicles is anticipated to create further growth opportunities for the silicon adhesives and sealant market over the forecast period.

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Silicone Adhesives and Sealants Market: Segmentation

The report on global silicone adhesives and sealants market is segmented into type, technology, and end-user. Based on the type, the market is classified into one-component, two-component, and UV cured. Based on technology, the market is bifurcated into PSA and non-PSA. The end-user segment is further segmented into building & construction, packaging, healthcare, electrical & electronics, and automotive. Silicone adhesives possess excellent electrical properties and develop high dielectric strength and conductivity that increases its demand in the electronics industry. In addition, silicone adhesives and sealants are used in PCB modules and system assembly owing to its performance and flexible processing.

Silicone Adhesives and Sealants Market: Regional Insights

The Asia Pacific dominates the silicone adhesives and sealants market. The growth of Asia Pacific as a manufacturing hub mainly contributes to the growth of the silicone adhesives and sealants market. In addition, the major investments of the key Chinese e-commerce giants, Alibaba and Tencent, into South-East Asia over the recent months have brought the region into sharper focus and introduced cross-border payment solutions thus creating significant scope for growth of the silicone adhesives and sealants market.

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Silicone Adhesives and Sealants Market: Competitive Analysis

The silicone adhesives and sealants market are a highly fragmented market. The major players in the silicone adhesives and sealants market are DOW, H.B. Fuller Company, 3M, Delo Industrial Adhesives LLC, AVERY DENNISON CORPORATION, Henkel AG & Co. KGaA, Shin-Etsu Chemical Co., Ltd, Illinois Tool Works Inc. Momentive, Sika, and Wacker Chemie AG. The companies are focusing on product innovations to gain competitiveness in the market. For instance, Dow Corning Corporation, one of the prominent players in silicones adhesives market has developed weatherproofing silicone sealants of the high-end life cycle, resisting cracks or splits and extremely suitable for diverse applications industries like construction high-volume packaging operations have taken to using this Earth-friendly adhesive.