Global RTV Silicone Market Set to Reach $1.72 Billion by 2029 - Increasing Demand of RTV Silicones in the Automotive Segment Boasts Lucrative Opportunities
DUBLIN, Jan. 14, 2020 /PRNewswire/ -- The "Global RTV Silicone Market: Focus on Type (RTV-1 and RTV-2) and Application (Construction, Automotive, Electrical & Electronics, Aerospace, and Others) - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.
This analysis projects the market to grow at a significant CAGR of 4.13% on the basis of value during the forecast period 2019-2029, reaching $1.72 billion by 2029.
Asia-Pacific dominated the global RTV silicone market with a share of 41.82% in 2018. Asia-Pacific, including the major countries, such as China, is the most prominent region for the RTV silicone market. In North America, the U.S. acquired a major market share in 2019 due to a growing construction and aerospace sector in the country.
The global RTV silicone market has gained widespread importance owing to a gradually developing automotive and construction industry. However, the usage of other sealants such as epoxy and acrylic sealants for various applications may hamper the market growth of the RTV silicones during the forecast period.
Expert Quote
The increasing demand of RTV silicones in automotive segment due to its insulating, sealing, and bonding properties is boosting the overall growth RTV silicone. Moreover, the increased automotive electronics per vehicle and growth in sales of hybrid and electric vehicles is propagating the demand of RTV silicones.
Scope of the Global RTV Silicone Market
The report on global RTV silicone market research provides detailed market information for segmentation such as by type, applications, and regions. The purpose of this market analysis is to examine the RTV silicone market outlook in terms of factors driving the market trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contributions of the key players operating in the market.
Segment Highlights
The global RTV silicone market is further segmented by type, application, and region. The construction application dominated the global RTV silicone market in 2019 and is anticipated to maintain its dominance throughout the forecast period (2019-2029).
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes different types of RTV silicone that includes RTV-1 and RTV-2. In the application segment, the market is segmented into construction, automotive, electrical and electronics, aerospace, and others.
The RTV silicone market is segregated by region under four major regions, namely, North America, Europe, APAC, South America and Middle East and Africa. The report contains data for each of these regions (by country).
Key Companies in the Global RTV Silicone Market
The key market players in the global RTV silicone market include Elkem ASA, Acrabond Adhesives Private Limited, KCC CORPORATION, American Sealants, Inc., Anabond, Avantor, Inc., CHT Group, H.B. Fuller , Henkel AG & Co. KGaA, Illinois Tool Works Inc., Novagard Solutions, Shin-Etsu Chemical Co., Ltd, Sika AG , The Dow Chemical Company, and Wacker Chemie AG."
Key Topics Covered
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Adoption of Silicone Solutions for Bonding, Sealing and Protecting Sensitive Electronic Parts in H&EVs (Hybrid and Electric Vehicles)
1.1.2 Growing Number of Applications of RTV Silicone in Construction, Automotive, and Electrical & Electronics Propelling the RTV Silicone Market
1.1.3 Surging LED Lighting Market Propelling the Growth of RTV Silicone Market
1.2 Market Restraints
1.2.1 Strong Competition from Sealants such as Epoxy and Acrylic: A Restraint for RTV Silicone Market
1.3 Market Opportunities
1.3.1 Expected Growth of RTV Silicone in Medical Sector
2 Competitive Landscape
2.1 Key Market Development and Strategies
2.1.1 Business Expansions
2.1.2 Partnerships, Collaborations, and Contracts
2.1.3 Mergers, Acquisitions, and Joint Ventures
2.1.4 Others
2.2 Leading Players in RTV Silicone Market
3 The Industry Analysis
3.1 Industry Attractiveness
3.1.1 Global RTV Silicone Industry Attractiveness Analysis
3.1.2 Threat of New Entrants
3.1.3 Bargaining Power of Buyers
3.1.4 Bargaining Power of Suppliers
3.1.5 Threats of Substitutes
3.1.6 Intensity of Competitive Rivalry
3.2 Supply Chain
3.3 Opportunity Matrix Analysis
3.3.1 Opportunity Matrix Analysis (by Region)
4 Global RTV Silicone Market (by Type), Analysis and Forecast (2018-2029)
4.1 Market Overview
4.2 RTV 1 (One Component)
4.3 RTV-2 (2 component)
5 Global RTV Silicone Market (by Application), Analysis and Forecast (2018-2029)
5.1 Market Overview
5.2 Construction
5.3 Electrical & Electronics
5.4 Automotive
5.5 Aerospace
5.6 Others
6 Global RTV Silicone Market (by Region), Analysis and Forecast (2018-2029)
6.1 Market Overview
6.2 North America
6.3 Europe
6.4 Asia-Pacific
6.5 Middle East & Africa
6.6 South America
7 Company Profiles
7.1 Overview
7.2 Acrabond Adhesives Private Limited
7.2.1 Company Overview
7.2.2 Acrabond Adhesives Private Limited in RTV Silicone Market
7.2.3 Strengths of Acrabond Adhesives Private Limited
7.2.4 Weakness of Acrabond Adhesives Private Limited
7.3 American Sealants Inc.
7.4 Anabond
7.5 Avantor Inc.
7.6 CHT Group
7.7 Elkem ASA
7.8 H.B. Fuller
7.9 Henkel AG & Co. KGaA
7.10 Illinois Tool Works Inc.
7.11 KCC Corporation
7.12 Novagard Solutions
7.13 Shin-Etsu Chemical Co. Ltd.
7.14 Sika AG
7.15 The Dow Chemical Company
7.16 Wacker Chemie AG
For more information about this report visit https://www.researchandmarkets.com/r/ndecyk
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article