Press release
Two-component Silicone Adhesives Market 2020: the number of electric vehicles on road to reach 125 million by the end of 2030
While growth in the near-term assessment period is likely to be hampered amid the COVID-19 crisis, Fact.MR maintains a positive outlook for the market for 2020 to 2030.
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According to the report, rising use of silicone adhesives for structural metal bonding, exterior interior trim, and glass bonding is expected to help the market gain momentum in the near future.
Silicones also offer excellent adhesion to wrappings and films in vehicles. Their excellent properties of adhesion ensure that films and wrappings adhere tightly to substrates, allowing car owners to change the color of their vehicles as per their requirement.
Against this backdrop, Fact.MR has projected sales in the silicone adhesives market to accelerate. The automotive research agency J.D. Power recently discussed about resurgence in car sales post COVID-19 in the U.S.
Tesla already has reported a spike in orders for new car registrations in China. Volkswagen has announced a cash incentive of 2000 Yuan for new vehicles in China.
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With operations in the automotive sector gradually reviving, sales of silicone adhesives in the industry are likely to pick up.
Key Takeaways from Silicone Adhesives Market Study
Demand for one-component adhesives is expected to surge considerably over the forecast period.
Medical grade silicone adhesives sales will continue surging over the assessment period. Demand in the automotive sector is forecast to rise over the coming years.
Pressure sensitive adhesives will gain traction in the electrical and electronics industry.
East Asia will exhibit high demand. Demand in the automotive sector will rise as sales recover in China.
“Demand for silicone adhesives is expected to rise in the aerospace, construction, and automotive sectors. Their rising use in manufacturing processes will continue aiding expansion of the market through the forecast period.
While sales have been disrupted due to slowdown in the aerospace and automotive sectors amid COVID-19, the market is likely to recover from 2021 onwards,” said a lead analyst at Fact MR.
Innovations Remain Crucial to Growth
From cellars to roofs, silicone adhesives are used for a plethora of applications by craftsmen and contractors around the world. Despite their applications, not all grades of silicone are harmless to health.
For instance, oxime silicones based on methyl ethyl ketoxime (MEKO) are considered carcinogenic.
Stringent regulations implemented across the globe are restricting application of such silicones, especially in the medical and healthcare sectors.
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To address this challenge, some of the leading names in the silicone adhesives market have launched innovative offerings. For instance, Henkel launched Pattex FUSIONXLT,
which is an innovative and oxime-free technology. The company is touting it as an all-in-one solution, covering both, interior and exterior applications.
Who is Winning?
Competition within the silicone adhesives market is likely to get fiercer over the coming years. In order to gain a competitive advantage, some of the leading names in the market are taking positive steps towards ensuring sustainability.
For instance
In 2019, Jowat launched Jowatherm® GROW, which is a bio-based hotmelt adhesive. According to the manufacturer, these adhesives are made from renewable materials.
Likewise, H.B. Fuller added Advantra Warrior™ to its Advantra® line. The manufacturer has promoted it as a versatile product suitable for various environments in case and carton sealing applications.
Some of the other leading companies operating in the silicone adhesives market are Momentive Performance Materials, Sika AG, and Wacker Chemie AG, among others.
More Valuable Insights on Silicone Adhesives Market
In its latest report, Fact.MR has provided a detailed analysis on the global silicone adhesives market, comprising data on historical statistics (2015-2019) and forecast of demand for the period between 2020 and 2030.
The report discusses critical insights on the silicone adhesives market in terms of type (one-component, two-component), technology (PSA and Non-PSA), end user (construction, automotive &
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transportation, medical, electrical and electronics), across key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Chemical Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade.
The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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