Silicone in Construction Industry Market by Type (Fluids, Elastomers, Resins, Gels), Application (Sealants, Adhesives and Coatings), End-Use (Roofing, Flooring, Sealing, Others)
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The market for silicone in construction industry has considerably grown in the recent past due to rapid growth of construction industry as well as increase in usage of silicone products in end-use applications, such as flooring, tiling, and plumbing. The global silicone in construction industry market was valued at $5,748 million in 2015, and is projected to reach $7,739 million by 2022, growing at a CAGR of 4.3% from 2016 to 2022. This is due to rapid growth of applications, increase in demand for silicone in construction industry, and rapid consumption of silicone products.
At present, the global silicone in construction industry market witnesses a lot of opportunities due to the increase in demand for silicone products among consumers. Moreover, increase in the use of silicone sealants, adhesives, coatings in construction materials enhances the architecture such as dramatic glass facades or curved and suspended structures. Moreover, rise in expenditure toward improvement of architecture in emerging markets such as China, India, and Korea is another key factor that augments the growth of the use of silicone in the form of gaskets, sealants, and waterproofing materials in residential applications. Also, shear stability, low volatility, and lesser surface tension properties make silicone fluids and elastomers ideal for construction industry.
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In addition, increase in the demand for silicone sealants and adhesives in high performance protective window systems to increase personal safety from flying glass drives the demand for silicones in construction industry. However, the rise in cost associated with silicone production owing to massive expenditure in vulcanization and property improvement is expected to have an adverse impact on the industry. Furthermore, increase in usage of polymers such as fluoropolymers, polyesters, and conventional polyethylene products in construction industry is expected to pose a high substitutional threat to the market during the forecast period.
The global silicon in construction industry market is segmented based on type, application, end-use, and geography. Based on type, the market is classified into fluids, elastomers, resins, and gels. The fluids segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. Based on application, the market is divided into sealants, adhesives, and coatings. The sealants application segment is estimated to grow at a significant CAGR of 4.8% during the forecast period. By end-use, the market is segmented into roofing, flooring, sealing, and others (plumbing and laminating). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for nearly one-third share of the total revenue in 2015, followed by Europe and Asia-Pacific.
Leading market players have largely invested in R&D activities to develop advanced products to cater to the demand for end users. The major players in the silicon in construction industry market include:
ICM Products, Inc
Speciality Silicone Products Incorporated
Evonik Industries AG
The Dow Corning Corporation
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging market trends and opportunities in the global silicone in construction industry market.
The report includes a detailed qualitative and quantitative analysis of the current market estimations during the forecast period to determine the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
Comprehensive regional analysis of the market based on primary as well as secondary sources is provided.
Extensive analysis of the market is conducted by following key product positioning and by monitoring the top competitors.
The report provides extensive qualitative insights on the potential and niche segments or regions.
The report provides key insights on strategic analysis of various companies and analysis of the market.
KEY MARKET SEGMENTS
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