Industry News

High-temperature Sealants Market to Reach USD 3.56 Billion by 2022: MarketsandMarkets

Published on 2017-07-26. Author : SpecialChem

The report "High Temperature Sealants Market by Chemistry (Silicone, Epoxy), Application (Electrical & Electronics, Transportation, Industrial, Construction), and Region (Asia Pacific, Europe, North America, Middle East & Africa) - Global Forecast to 2022", The high temperature sealants market was valued at USD 2.71 Billion in 2016 and is projected to reach USD 3.56 Billion by 2022, at a CAGR of 4.6% from 2017 to 2022.

Factors to Drive Growth

  • The high temperature sealants market is driven by its wide applications across industries. 
  • The high temperature sealants market is witnessing moderate growth due to their extreme temperature resistant properties
  • The increasing production of automobiles
  • Increasing demand from emerging economies

Silicone Sealant

Market Segment Wise Growth

The electrical & electronics segment accounts for the largest share in the global high temperature sealants market, and is expected to be the fastest-growing segment for the forecast period. Increasing usage of electrical components in automobiles and growing usage of electronics in modern life drives the growth of electrical & electronics industry.

The various application areas served by high temperature sealants in electrical & electronics are printed circuit boards, pyrolitically deposited films, microelectronic substrates, electrical connectors, high power resistors, ceramic filled cartridge heaters, and conduit terminal boxes, among others.

The high temperature sealants market is segmented on the basis of chemistries into silicone, epoxy, and others. Silicone chemistry is projected to be the largest segment in the high temperature sealants market due to acceptability across industries and superior temperature resistance properties in comparison to other chemistries.

Electric Vehicles Drives Growth

The Asia Pacific led the high temperature sealants market in 2016. The presence of a high end-use industry base, growing construction & electrical & electronics industry, and favorable policies & initiatives are expected to drive the high temperature sealants market in the region. Moreover, the increasing production of automobiles, and rising demand for electric vehicles is expected to lead to a significant growth in the demand for high temperature sealants.

The global market for high temperature sealants is led by players such as, Dow Corning Corporation (US), Wacker Chemie AG (Germany), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), 3M Company (US), Bostik SA (France), H.B. Fuller (US), PPG Industries, Inc. (US), CSW Industrials Inc. (US), Illinois Tool Works Company. (US), and Soudal N.V. (Belgium), among others.

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Source: MarketsandMarkets
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