Construction silicone sealants Market Driver: Increased demand in residential housing and infrastructure sectors industry
The global construction silicone sealants market size is estimated to grow from USD 3.5 billion in 2021 to USD 4.5 billion by 2026, at a CAGR of 5.0% during the forecast period. Thedriving factors for the construction silicone sealants market is growing demand from residential housing and commercial offices, along with rising infrastructure output from key sub-sectors, such as roads, rail, energy, and water and sewerage, is boosting the demand for construction silicone sealants. industries. Increasing demand from APAC will further drive the growth of the global construction silicone sealants market.
The key application areas of construction silicone sealants include glazing, flooring & joining, sanitary & kitchen, insulating glass, decoration and windows & door systems among others. These applications are growing, which has subsequently spurred the growth of the construction silicone sealants market. The increasing penetration of silicone sealants in new applications, such as weatherproofing, decoration, structural bonding, ductwork, and structural glazing in the construction industry is driving the construction silicone sealants market. The major applications of construction silicone sealants are in window framing, sanitary & kitchen, expansion joints, floor systems, walls, and panels. Under changing atmospheric conditions, they provide stress-bearing capability and prevent cracking. they are also used in construction applications such as weatherproofing of nonporous & porous substrates, sealing expansion joints, sanitary joints in bathroom & kitchen fixtures, electrical conducts, fire-rated joints on pipes, ducts and electrical wiring in ceilings & within buildings. In addition to the silicon sealants optimized for the construction industry, processors also use these sealants to create strong adhesive bonds and are resistant to chemicals, moisture, and weathering. Water-resistant silicone sealants are ideal for repairing areas around sinks and other areas where water is frequently found.
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Increasing investments in construction activities, such as airports, bridges, dams, and metro stations are also increasing the demand for silicone sealants for weatherproofing, expansion joints, panels, and other applications.
Increasing demand for permanent, non-slum houses across India and other developing countries such as Brazil, China, Indonesia, and Vietnam is primarily driven by the growth in population, urbanization, and rising income. This rapid growth in residential housing in these countries is driving the construction sealants market.
Insulating glass is expected to be the fastest-growing application in the Construction silicone sealants market
Insulating Glass is the fastest-growing application segment in the Construction silicone sealants market. Rising number of energy-efficient construction projects in residential and commercial end-use industries will drive the demand for silicone sealants in the insulating glass application. It accounted for a share of about 14.4% of the construction silicone sealants market, in terms of value, in 2020.
APAC is expected to hold the largest market share in the global construction silicone sealants market
APAC accounted for the largest share of the Construction silicone sealants market in 2020. The market in the region is growing because of growing building & construction activities in emerging countries, increasing domestic demand, income levels, and easy access to resources. The market is also driven by foreign investments, supported by cheap labor and economical and accessible raw materials.
Dow (US), Wacker Chemie AG (Germany), Elkem ASA (Norway), Momentive (US), and Shin-Etsu Chemical Co. Ltd. (Japan), are the leading construction silicone sealants manufacturers, globally.
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