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(IT-NEWSWIRE.COM, October 18, 2019 ) Market Overview
• Silicone adhesives are particularly formulated for premium performance. Silicone bonds well to Silicone and other relevant surfaces, and is suitable for longer-term critical applications. It is also having a widest temperature range from -51 C to 232 C (450F) among PSA materials and has good resistance to chemicals, moisture, and UV rays. It is used as an adhesive to bond materials that have dissimilar coefficients of thermal expansion (CTE). Silicone adhesives are substances composed of silica and oxygen atoms. Silicone has been used as a coating in some space applications to protect various polymer substrates.
Market Dynamics
• Rising demand for construction globally and increasing demand for the automotive industry are the major drivers impacting factors for market growth. High heat resistance and great flexibility permit Silicone adhesives to be used in different end-use industries like aerospace & defense, electronics, medical, construction and automotive among others. Rising attentiveness regarding the advanced medical technologies associated with the market has additionally acted as other key drivers for this market. Government initiatives in the form of funds & grants and application of innovative products in the healthcare industry are some other major driving factors for the Silicone adhesive market worldwide. For instance, DOW CORNING™ medical and pharmaceutical Silicone adhesives can be used for a wide range of applications, including wearable monitoring devices, wound care products, medical device attachments, external prosthetic devices, and specialty cosmetic applications.
• The availability of alternate adhesives in the market is the major hampering factor for market growth.
Market Segmentation
• By application, the silicone adhesives market is segmented into automotive, construction, electrical & electronics, aerospace & defense and medical. The Silicone adhesives market size by application segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Silicone adhesives are currently being used in a variety of space applications. For instance, Electronics for a satellite constructed by the Johns Hopkins University Applied Physics Laboratory for the NASA Goddard Space Flight Center required a Silicone adhesive suitable for extremely cold temperatures in order to bond heat sinks to PCBs. Furthermore, further example is the use of a Silicone adhesive to bond a radiation conduction bar to the mount plate of a charged coupling device (CCD) of a telescope.
• By technology, the Silicone adhesives market is segmented into pressure-sensitive adhesives and non-pressure sensitive adhesives.
By product type, the Silicone adhesives market is segmented into single-component Silicone adhesives and two-component Silicone adhesives.
Download free sample: https://www.datamintelligence.com/download-sample/silicone-adhesives-market
Geographical Analysis
• The Asia Pacific silicone adhesives market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Asia Pacific is expected to grow with a high CAGR rate in the forecast period. Numerous manufacturers and research institutions are focusing on new initiatives and investing deeply in technological developments of Silicone adhesives to increase the properties and enhance their use in many applications. Investments in Automotive is expected to increase the growth of the market. For instance, India’s automobile sector, which attracted USD 16.5 billion in FDI between April 2000 and December 2016, is expected to attract USD 8-10 billion more in local and foreign investments by 2023.
• The Europe Silicone adhesives market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The European market has established a notable growth in the past couple of years owing to the increasing technological advancement to manufacturing solvent-based materials in various industries like medical, transportation, buildings, construction, and others. Furthermore, the increasing acquisitions & mergers of the topmost companies is the major factor for the growth of the market in Europe especially in U.K, Italy, Germany, and France over the forecast period.
Competitive Landscape
• The Silicone Adhesives market is competitive with existing and new players entering the market. Some of the major players include Dow Corning, 3M, Delo Industrial Adhesives LLC, Adhesives Research, Inc., Momentive Performance Materials, Quantum Silicones, ThreeBond Holdings Co., Ltd., ACC Silicone Ltd, Sika, and, Shin-Etsu Chemical Co., Ltd.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Silicone Adhesives Market.
• For instance, in June 2018, 3M announced that it has expanded its lineup of advanced adhesives for medical devices with the addition of 3M™ Single Coated Medical Extended Wear Adhesive Nonwoven Tape.
• On September 1, 2017, DowDuPont™ announced the completion of the merger of equals between The Dow Chemical Co. and E.I. du Pont de Nemours & Co.
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