Market Forecast: Growth Prospects for Construction Silicone Sealants in Emerging Economies

 The construction silicone sealants market is witnessing significant growth due to the booming construction industry worldwide. Silicone sealants are widely used for various applications in the construction sector, such as sealing joints, filling gaps, and providing weatherproofing and thermal insulation. They offer excellent adhesion, flexibility, and durability, making them ideal for both interior and exterior applications.

The global construction silicone sealants market size is estimated to grow from USD 3.5 billion in 2021 to USD 4.5 billion by 2026, at a CAGR of 5.0% during the forecast period. The report Construction Silicone Sealants Market by Type (One Component, two Component), Curing Type (Acetoxy, Alkoxy, Oxime), Application, End-Use Industry (Residential, Commercial, Industrial) and Region - Global Forecast to 2026. The report is structured into various segments, each analyzing the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets in the upcoming years.

One of the key trends driving the market is the increasing demand for energy-efficient buildings. Silicone sealants play a crucial role in enhancing the energy efficiency of structures by sealing gaps and preventing air leakage. With the rising awareness of sustainable construction practices, the demand for silicone sealants with low VOC (volatile organic compound) content is on the rise.

Another trend in the industry is the development of innovative silicone sealants with enhanced properties. Manufacturers are focusing on introducing products with improved weather resistance, UV stability, and fire resistance. These advancements ensure long-lasting performance, even in harsh environmental conditions, making them suitable for various construction projects.

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Moreover, the growing adoption of silicone sealants in emerging economies is fueling market growth. Rapid urbanization, infrastructure development, and increased construction activities in countries like China, India, and Brazil are creating substantial opportunities for the market players. These regions also offer a vast consumer base and cost-effective manufacturing capabilities, further driving the market expansion.

Insulating glass is expected to be the fastest-growing application in the Construction silicone sealants market during the forecast period.

Insulating Glass is the fastest-growing application segment in the Construction silicone sealants market. Rising number of energy-efficient construction projects in residential and commercial end-use industries will drive the demand for silicone sealants in the insulating glass application.  It accounted for a share of about 14.4% of the construction silicone sealants market, in terms of value, in 2020.

APAC is expected to hold the largest market share in the global construction silicone sealants market during the forecast period.

APAC accounted for the largest share of the Construction silicone sealants market in 2020. The market in the region is growing because of growing building & construction activities in emerging countries, increasing domestic demand, income levels, and easy access to resources. The market is also driven by foreign investments, supported by cheap labor and economical and accessible raw materials.

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Dow (US), Wacker Chemie AG (Germany), Elkem ASA (Norway), Momentive (US), and Shin-Etsu Chemical Co. Ltd. (Japan), among others, are the leading construction silicone sealants manufacturers, globally. These companies adopted new product launch, expansion, agreements & contracts and merger & acquisition, as their key growth strategies between 2016 and 2021 to earn a competitive advantage in the construction silicone sealants market.

Dow is the largest player in the market. Dow is one of the leading names in chemical market and provides extensive range of products in Silicone sealant market for building and construction sector especially. The company has good financial backgrounds and geographical presence with 106 manufacturing sites in 31 countries.

Wacker Chemie AG is the second-largest player of the construction silicone sealants market, globally. The company is one of the leading chemical company and manufactures products in the field of Silicone, polymer, life sciences and polySilicone markets for all key global industries. In March 2018, the company opened a new laboratory in the Moscow Technical Center, for adhesives and sealants, in Russia to increase its research and development capacity as well as have more innovations in sealants market.