The global silicone sealants market size was estimated at over 550 kilo tonnes in 2015 and is likely to exceed 820 kilo tonnes by 2023 and is expected to grow at over 4.5% from 2016 to 2023, according to a new report by Global Market Insights Inc.
Properties such as excellent thermal & weather stability, oxidation & ozone resistance, physiological inertness, high gas permeability and extremely low-temperature flexibility favour silicone sealants to cater end-use industries such as construction, automotive and packaging.
Construction sector represents the dominant segment for silicone sealants demand. Increasing in construction spending over the last few years particularly in Asia Pacific and MEA is likely to drive silicone sealants market growth over the forecast period. Countries such as China, India, Indonesia, Saudi Arabia and UAE have witnessed an increase in investments and government sanctions to construct residential and commercial buildings.
China silicone sealants market follows its construction industry, which dominated Asia Pacific with an estimated spending of approximately USD 1.78 trillion in 2013, making it the largest. Also, India and Indonesia construction spending were estimated at USD 427 billion & USD 267 billion respectively in 2013. Total Asia Pacific construction spending amounted to approximately USD 3.59 trillion and accounted for close to 44% of the total revenue share in 2013.
They primarily as one-part room temperature vulcanisable (RTV) products are used in construction applications such as weatherproofing of nonporous & porous substrates, sealing expansion joints, sanitary joints in the bathroom & kitchen fixtures, electrical conduicts, fire-rated joints on pipes, ducts and electrical wiring in ceilings & within buildings.
The global silicone sealants market size was estimated at over 550 kilo tonnes in 2015 and is likely to exceed 820 kilo tonnes by 2023 and is expected to grow at over 4.5% from 2016 to 2023, according to a new report by Global Market Insights Inc.
Properties such as excellent thermal & weather stability, oxidation & ozone resistance, physiological inertness, high gas permeability and extremely low-temperature flexibility favour silicone sealants to cater end-use industries such as construction, automotive and packaging.
Construction sector represents the dominant segment for silicone sealants demand. Increasing in construction spending over the last few years particularly in Asia Pacific and MEA is likely to drive silicone sealants market growth over the forecast period. Countries such as China, India, Indonesia, Saudi Arabia and UAE have witnessed an increase in investments and government sanctions to construct residential and commercial buildings.
China silicone sealants market follows its construction industry, which dominated Asia Pacific with an estimated spending of approximately USD 1.78 trillion in 2013, making it the largest. Also, India and Indonesia construction spending were estimated at USD 427 billion & USD 267 billion respectively in 2013. Total Asia Pacific construction spending amounted to approximately USD 3.59 trillion and accounted for close to 44% of the total revenue share in 2013.
They primarily as one-part room temperature vulcanisable (RTV) products are used in construction applications such as weatherproofing of nonporous & porous substrates, sealing expansion joints, sanitary joints in the bathroom & kitchen fixtures, electrical conduicts, fire-rated joints on pipes, ducts and electrical wiring in ceilings & within buildings.
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