The silicone adhesives market size was USD 2.97 Bn in 2022 and is likely to reach USD 3.70 Bn by 2031, expanding at a CAGR of 5.2% during 2023–2031. The market growth is attributed to the developments made in the growing silicone adhesives market regarding advanced manufacturing processes.
Silicone adhesive is a versatile and waterproof polymer with a primary ingredient called silica. Silicone refers to a group of polymers with a siloxane bond with organic compounds such as oxygen. Silicone is water & temperature resistant along with resistance to chemicals and atmospheric moisture.
These factors help in the versatile use of silicone adhesives in various industries as a safe method for surface adhering. Regardless of the type of surface such as metal or even skin, silicone adhesives form a strong and durable bond.
The report finds that the COVID-19 pandemic has moderately hampered the overall revenue of the global silicone adhesives market, due to a sharp decline in the manufacturing of silicone adhesives worldwide. The prolonged shutdown of factories across industries had plummeted the overall demand of the market, as a part of preventive measures imposed by governments across countries to curb the virus spread.
The sudden disruption in the supply chain especially the lack of timely supply of raw materials forced the silicone adhesive manufacturers to either delay their production or reschedule their existing projects.
Silicone Adhesives Market Dynamics
The global silicone adhesive market report has up-to-date insights that help formulate a strategic roadmap about the estimated market scenario and performance during 2023 to 2031.
What are the Drivers of the Silicone Adhesive Market?
Increased usage of silicone adhesives in many industries such as buildings & construction, furniture, automotive, electronics, and medical is expected to boost the market share during the forecast period. Silicone adhesives are made of raw materials that are non-reactive to the surfaces that it is applied. Silicone adhesives are estimated to be weather-resistant and non-conductor in electricity.
This makes silicone adhesives safe to use in particular industries such as electronics and buildings & construction. These factors are estimated to contribute to the growth of the silicone adhesives market.
What Restraints the Silicone Adhesives Market?
The growing consumer awareness of environmental safety is estimated to hamper the silicone adhesives market growth share. Some silicone adhesives are toxic and flammable in nature and thus have stringent conditions for their shipping and transportation. There is an estimated fluctuation in the prices of raw materials used in the manufacturing of silicone adhesives. These factors are estimated to be the reasons to hamper the growth of the silicone adhesives market.
What are the Opportunities in the Silicone Adhesives Market?
Urbanization and changing consumer behavior of the end-users and consumers are projected to create lucrative opportunities for the silicone adhesives market growth. The increasing application methods of silicone adhesives bring new medical techniques & advancements to the growing number of hospitals across the globe.
Scope of the Silicone Adhesives Market Report
The global silicone adhesives market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Silicone Adhesives Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (One-Component, Two-Component, and Others), Technology (Pressure Sensitive Adhesives and Non-Pressure Sensitive Adhesives), and End-user (Construction, Furniture, Automotive, Electronics, Medical, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Dow; Wacker Chemie AG; Elkem ASA; MISUMI Corporation; 3M; Henkel AG & Co. KGaA; Momentive; H.B. Fuller Company; Sika AG; and Delo Industrial Adhesives LLC.
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Silicone Adhesives Market Segment Insights
What Are the Main Aspects of Boosting the One-Component Segment?
Based on type, the silicone adhesives market is divided into one-component, two-component, and others. The one-component segment is expected to expand at a significant growth rate during the projection period, as it is estimated to have strong adhesion and flexibility.
The one-component adhesives require no additional agents or additives, thus there is minimal use of raw materials with cost-effective application. The one-component segment is projected to have varied applications including metals, glass, plastic, and other surfaces.
What Key Factors Contribute to The Significant Expansion of Pressure Sensitive Adhesives Segment?
On the basis of technology, the global silicone adhesives market is bifurcated into pressure sensitive adhesives and non-pressure sensitive adhesives. The pressure sensitive adhesives segment is projected to register a considerable CAGR during the forecast period attributed to the safe application in power equipment. This factor is estimated to bring various applications in the pressure sensitive adhesives market, such as electronics, transportation, automotive, and others.
Which Major Factors influence the Substantial Growth of the Medical Segment?
On the basis of end-user, the silicone adhesives market is segmented into construction, furniture, automotive, electronics, medical, and others. The medical segment is expected to register a robust growth rate during the forecast period, attributed to the increased number of accidents, wound infections, and other medical emergency incidents. Some of the skin adhesives are projected to be used in surgical, outdoor medicals, first aid, and others.
Some silicone adhesives are commonly used in medical tapes and bandage adhesive that adheres to the skin and creates a secured seal to cure the infection and can be easily removed without leaving back a residue on the skin.
Why Is the Demand for Silicone Adhesives High in Asia Pacific?
In terms of region, the global silicone adhesives market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-pacific is expected to dominate the market during the forecast period, attributed to the growing number of producers and the growth in demand for silicone adhesive by the end-users.
Industries such as medicine, automobile, and electronics in developing countries of Asia Pacific are estimated to have a significant demand for silicone adhesives. Thus, many key players are anticipated to implement their production units in the countries in Asia Pacific for growth in the silicone adhesives market revenue.
Segments
The global silicone adhesive market has been segmented on the basis of
Type
- One-Component
- Two-Component
- Others
Technology
- Pressure Sensitive Adhesives
- Non-Pressure Sensitive Adhesives
End-user
- Construction
- Furniture
- Automotive
- Electronics
- Medical
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the market are Dow; Wacker Chemie AG; Elkem ASA; MISUMI Corporation; 3M; Henkel AG & Co. KGaA; Momentive; H.B. Fuller Company; Sika AG; and Delo Industrial Adhesives LLC.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance,
- In October, 2022-Elkem ASA introduced new technology for medical silicones named Silibione Biomedical Adhesives used for efficient long-term application for a longer duration of time on the body.
- In June, 2019-Dow announced its DOWSIL EA-4700 CV adhesive, a silicone adhesive solution for applications such as electronic control unit assembling, and gasket & connector sealing that is capable of curing at faster speeds.