Silicone Adhesives Sales to Pick Up as Investment in Electric Vehicle Manufacturing Likely to Hit All Time High in Next Ten Years

NEW YORK, Sept. 16, 2021 /PRNewswire/ -- The global silicone adhesives market is expected to witness surge in demand in the coming years owing to rising production of electric vehicles in Europe, China, and the U.S. Glass bonding, exterior trim, interior trim, structural metal bonding, and structural fiber reinforced plastic bonding are a few applications of silicone adhesives in the automotive industry.

Construction industry also will continue exhibiting high demand for silicone adhesives through the assessment period, from 2021 to 2031. Silicone adhesives are popular due to their excellent conductive properties, which paves scope for increasing application in the electronics sector.

Despite consistently rising demand from diverse industries, sales of silicone adhesives plummeted amidst restrictions imposed to contain COVID-19 outbreak. Suspension of operation across construction and automotive industries, besides various manufacturing units had adverse impact on silicone adhesives market.

However, the market is expected to recover post COVID-19, driven by increasing production of electric vehicles. According to the International Energy Agency, sales of electric car reached 2.1 million in 2019, which showcased a 6% hike as compared to the year before.

China is expected to offer substantial growth opportunities for silicone adhesives market during the forecast period as home to one of the largest manufacturing sectors in the world. Also, surging vehicle production is expected to seal China's dominance in the East Asia silicone adhesives market.

The country also is investing significantly in construction activities to steer infrastructural expansion. This is another factor supporting sales of silicone adhesives in the country.

 "Some developed markets are inching closer to saturation. Consequently, leading silicone adhesives manufacturers are focusing on uncovering growth prospects across emerging economies. The booming construction sector of these countries offer lucrative prospects for sales of silicone adhesives," says the Fact.MR analyst.

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Key Takeaways

• Government stimulus towards construction projects will spur silicone adhesives sales in the U.S.
• Sustainable Innovation Fund launched by the U.K. to support innovative small enterprises during pandemic crisis, also will steer growth prospects for silicone adhesives market.
• Germany is expected to lead the Europe market for silicone adhesives, backed by the presence of a mature automotive industry.
• China exhibit high demand for silicone adhesives, driven by consistently rising demand in the automotive manufacturing industry.
• Based on type, demand for one-component silicone adhesives is expected to remain considerably high through the forecast period.

Growth Drivers

• Focus on improving the efficiency of automotive components will create scope for application of silicone adhesives in the automotive sector.
• Efforts undertaken by various manufacturers to develop low-cost advanced silicone technologies is bolstering the sales in the global market.

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Competitive Landscape

The global silicone adhesive market is partially consolidated in nature. Companies operating in the market are focusing on expanding their geographic footprint by developing innovative products and penetrating into emerging economies.

For instance, H.B. Fuller added Advantra Warrior to its profile and turn its adhesive line versatile with its unique polymer technology that exhibits unparalleled resistance for extreme temperature. The company is aiming to offer Advantra Warrior as a solution for packaging industry.

Similarly, Dow launched a silicone adhesive solution named as DOWSIL EA-4700 CV that has the ability to cure in temperature room at a substantial speed. These adhesives are known to offer remarkable adhesion for metals and plastics in electronics assembly.

Some of the key layers operating in the global silicone adhesive market as profiled by Fact.MR are:

• 3M
• Avery Dennison Corporation
• Delo Industrial Adhesives LLC
• Dow
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• Illinois Tool Works Inc.
• Momentive Performance Materials
• Shin-Etsu Chemical Co., Ltd.
• Sika AG
• Wacker Chemie AG

More Insights on the Silicone Adhesive Market

Fact.MR provides an unbiased analysis of the silicone adhesive market presenting historical period demand data (2016-2020) and forecast period from 2021 to 2031. The study divulges into compelling insights on the silicone adhesive market with detailed segmentation on the basis of:

Type

• One-component
• Two-component

Technology

• PSA
• Non-PSA

End User

• Construction
• Automotive & Transportation
• Medical
• Electrical & Electronics
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania Middle East & Africa (MEA)

Key questions Covered in the Silicone Adhesive Market Report

• The report offers detailed insights into silicone adhesive demand outlook for 2021-2031
• The market study also highlights projected sales growth for silicone adhesive market between 2021 and 2031
• Silicone adhesive market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry 
• Silicone adhesive market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others 

Explore Fact.MR's Coverage on the Chemicals & Materials Domain

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Textile Adhesives Market - Textile adhesives are used in the textile industry to bond different fabric components instead of sewing garments, resulting in consistent dimension and performance. The diverse range of textile adhesives available for a wide range of applications meets almost all practical requirements and has global market access. As compared to hot melt textile Adhesives, water-based textile adhesives are an environment-friendly solution.

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SOURCE Fact.MR