Silicone Adhesives Market

Global Silicone Adhesives Market Size (2024 to 2032)

The Global Silicone Adhesives market was valued at USD 4.68 billion in 2023. The global market size is expected to grow at a CAGR of 8.3% from 2024 to 2032 and be worth USD 9.59 billion by 2032 from USD 5.07 billion in 2024. 

MARKET OVERVIEW

Silicone adhesives are substances composed of oxygen and silica atoms. They are of two types called two-component and one-component. The silicone adhesives and sealants market is rising at a faster pace, and this trend is likely to stay for the next decade. Asia-Pacific is the biggest market for silicone adhesives and sealants, which is the major contributor to the progression of this market. However, growing consumer awareness of environmental safety and volatile organic compounds in silicone adhesives and sealants is expected to hamper the growth of this market.

MARKET DRIVERS

The key factor driving the expansion of the industry is increasing calls from the construction industry. The increasing call from the automotive industry is driving the worldwide silicone adhesives industry.

Great flexibility, and also high resistance to heat, let silicone adhesives to be employed in different end-use businesses like electronics, aerospace & defense, and automotive among others. This drives the call for the global silicone adhesives market. Strong adhesion to a broad variety of substrates like plastics, metals, glass, rubbers, etc. acts as a significant factor to fuel the expansion of the silicone adhesive industry. Adhesive, mainly in the Asia-Pacific region. Increasing incidences of wound infections combined with escalating awareness relating to the advanced medical techniques related to the industry have furthermore acted as another key driver for this industry. The silicone adhesives are employed during the production procedure of wire wheels to the engine control modules and assist in decreasing the vehicle weight, hence enhancing fuel efficiency. Therefore, the increasing employment of silicone adhesives in the automotive industry is escalating its call and driving industry expansion. Also, the escalation in the call for customizing automobiles is greatly affecting the worldwide silicone adhesives industry. Silicones play a key role in initiating the adhesion of films and wrappings in vehicles and their high bonding features make sure that the films stick tightly to the substrate lets the car owners change the color of their vehicles quickly and customize them based on their needs.

Therefore, the increase in the call for customizing automobiles also escalates the call for silicone adhesives.

The increasing call from the automotive industry together with the escalation in the call for customizing automobiles is driving the silicone adhesives industry expansion. An increasing call for high-performance materials like silicone adhesives which can assist to prevent component failures, decrease expensive warranty repairs, and enhance customer satisfaction in the automotive segment. Government initiatives in the form of grants and & funds and technological developments in medical processes due to which the latest and innovative goods are being introduced are the other key driving factors for the industry. Rising calls for silicone adhesives in medical devices and surgeries owing to the call for offering patients better treatment in a safer environment. Increasing the employment of UV curing technology and thermosets in the making of the product is estimated to improve production pace, enhance scratch resistance, and offer high bonding that in turn is estimated to rise as the most major expansion driver for global silicone adhesives market in the foreseen period. Furthermore, rising call of adhesives in the construction industry due to their different physical and chemical properties when compared to other sealants involving polysulfide, acrylic, and polyurethane is estimated to boost the call of silicone adhesives and sealants and hence driving the worldwide silicone adhesives industry.

MARKET RESTRAINTS

Stagnancy in the expansion of advanced nations is probable to hamper the industry’s expansion. Vaporous organic composite in silicone adhesives and sealants and increasing customer awareness for environmental safety is estimated to restrain the expansion of silicone adhesives and sealants. This hampers the expansion of the global silicone adhesives market.

MARKET OPPORTUNITIES

Conductive features of silicones for electrical applications are probable to create opportunities for the industry in the near years. The rising focus on medical adhesives in wound treatment is also a key factor to propel the expansion of this industry in the years to come.

MARKET CHALLENGES

Increasing consumer awareness for environmental safety and vaporous organic composite in silicone adhesives and sealants is estimated to pose a challenge to the expansion of this industry in the coming years.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Silicone Adhesives Market By Type

Of the two varieties, the one-component adhesive sector makes most of the market revenue. High flexibility, strong adhesion, and a wide range of applications like glass, plastic, metals, rubbers, etc. are the reasons for one-component silicone adhesive to dominate the market.

Global Silicone Adhesives Market By End-user

The medical sector of the end-use industry has the highest growth rate in terms of both revenue and volume used in the aforementioned forecast period. The medical end-use industry is mainly driven by the increased incidents of major injuries and the need for harmless adhesives.

REGIONAL ANALYSIS

Asia Pacific had the highest market share in 2023 and is expected to be the fastest-growing market.

Attributed to its high CAGR, increasing demand from growing industries, and scope of future opportunities, mainly in developing countries like Japan, India, and China.

Europe and North America are nearly equal in terms of both market share and CAGR.

There is moderate growth in these regions of the world due to the domination of well-established industries in parts of Asia Pacific. The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Silicone Adhesives market in these regions is slow-growing in nature.

KEY PLAYERS IN THE GLOBAL SILICONE ADHESIVES MARKET

3M Company (US), Wacker Chemie AG (Germany), Dow Corning Corporation (US), Momentive Performance Materials Inc. (US), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), H.B. Fuller (U.S.), Bostik SA (France), Avery Dennison, Delo Industrial Adhesives LLC are some of the notable companies in the global Silicone Adhesives market.

RECENT HAPPENINGS IN THE MARKET

• US-based engineers, inspired by microstructures on a gecko’s toepad, have created a directional adhesive with a grip that is 100 times larger in one direction than in the opposite direction. The researchers at Stanford University, believe that this invention can provide artificial microstructures with advanced properties and help close the performance gap between synthetic and natural materials.
• Avantor, a life sciences materials provider, will be highlighting its latest technologies including its NuSil biocompatible silicone adhesives, at the MD&M West, in February 2019.

DETAILED SEGMENTATION OF THE GLOBAL SILICONE ADHESIVES MARKET INCLUDED IN THIS REPORT

This research report on the global silicone adhesives market has been segmented and sub-segmented based on type, technology, end-user, and region.

By Type

• One-Component
• Two-Component

By Technology

• PSA
• Non-PSA

By End-user

• Building & Construction
• Transportation
• Medical
• Electrical & Electronics

By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America
• Middle east and Africa