PUBLISHER: The Business Research Company | PRODUCT CODE: 1615037
PUBLISHER: The Business Research Company | PRODUCT CODE: 1615037
Silicone adhesives are versatile bonding agents derived from silicone polymers, recognized for their flexibility, durability, and resistance to extreme temperatures. These adhesives create strong seals and bonds on a wide variety of surfaces, including metal, plastic, glass, and ceramics. They are commonly utilized in the automotive, electronics, and construction industries due to their resistance to moisture, chemicals, and UV light.
The primary types of silicone adhesives are one-component and two-component. One-component silicone adhesives are ready to use without requiring any mixing. The technologies associated with these adhesives include pressure-sensitive adhesives (PSA) and non-pressure-sensitive adhesives (non-PSA). They cater to a diverse range of end-users, including those in building and construction, transportation, medical, electrical, electronics, and other sectors.
The silicone adhesives market research report is one of a series of new reports from The Business Research Company that provides silicone adhesives market statistics, including silicone adhesives industry global market size, regional shares, competitors with a silicone adhesives market share, detailed silicone adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the silicone adhesives industry. This silicone adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The silicone adhesives market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth during the historic period can be attributed to the rising demand for lightweight materials, the growth of electronics manufacturing, the increasing use of biocompatible silicone adhesives in medical devices, and the rising demand for renewable energy alongside the expansion of the aerospace industry.
The silicone adhesives market size is expected to see strong growth in the next few years. It will grow to $2.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The forecast period growth is expected to be driven by the increasing adoption of electric vehicles, a rising demand for sustainable building materials, the expansion of 5G and electronics, technological advancements in adhesive formulations, and the growth of industrial automation and robotic systems. Key trends in this period include a shift towards eco-friendly adhesives, advancements in high-temperature applications, the growing trend of miniaturized electronics, customization and specialty adhesives, and the integration of smart materials.
The expansion of the construction industry is anticipated to drive the growth of the silicone adhesives market in the future. The construction industry encompasses the planning, design, building, and maintenance of structures, including residential, commercial, and infrastructure projects. It employs various trades and technologies to create safe and functional environments. The growth of this industry is fueled by urbanization, rising population demands, and government investments in infrastructure projects, leading to a need for new buildings, roads, and facilities that support economic development and enhance living standards. Silicone adhesives are favored in construction for their excellent flexibility, weather resistance, and strong bonding capabilities, making them ideal for sealing joints and bonding different building materials. For instance, in August 2024, the Australian Bureau of Statistics reported that total building work amounted to $33,815.0 million in June 2024, an increase from $32,443.2 million in June 2022. Thus, the expansion of the construction industry is a key driver for the growth of the silicone adhesives market.
Companies in the silicone adhesives market are concentrating on developing innovative solutions, such as soft elastomeric silicone adhesives for medical device adhesion. Soft elastomeric silicone adhesive is a flexible, cushioning adhesive designed for gentle yet durable bonding, commonly used in medical, electronic, and wearable applications due to its soft, skin-friendly properties. For example, in February 2023, DuPont de Nemours, Inc., a US-based chemical company, introduced the Liveo MG 7-9960 Soft Skin Adhesive. This silicone-based adhesive is designed for medical applications, providing gentle adhesion for sensitive skin, high flexibility, and long wearability, making it suitable for wound care, wearable devices, and other medical tapes. Additionally, it offers moisture management to reduce skin irritation.
In June 2024, Wacker Chemie AG, a Germany-based company that develops, manufactures, and markets therapeutic drug monitoring (TDM) assays, acquired Bio Med Sciences Inc. for an undisclosed amount. This acquisition enhances Wacker Chemie AG's portfolio in the medical adhesives sector, enabling greater innovation and a wider range of product offerings. Bio Med Sciences Inc. is a US-based provider of silicone adhesives.
Major companies operating in the silicone adhesives market are BASF SE, Dow Corning Corporation, 3M Company, Henkel AG & Co. KGaA, Shin-Etsu Chemical Co. Ltd., Sika AG, Wacker Chemie AG, Avery Dennison Corporation, Nitto Denko Corporation, Elkem Silicones, H.B. Fuller Company, Momentive Performance Materials Inc., Tesa SE, Huntsman Corporation, CHT Group, Delo Industrial Adhesives LLC, Rogers Corporation, Novagard Solutions Inc., McCoy Soudal, Avioparts, American Sealants Inc., Silicone Solutions Inc., Master Bond Inc.
Asia-Pacific was the largest region in the silicone adhesives market in 2023. The regions covered in the silicone adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the silicone adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The silicone adhesives market consists of sales of one-part silicone adhesives, two-part silicone adhesives, and silicone sealants. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Silicone Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on silicone adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for silicone adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The silicone adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.