Global silicone sealants market is expected to witness significant growth over 2021-2027, given the proliferating investment interest in construction and infrastructure development activities. Silicone sealants are used widely in construction projects for expansion joints, panels, weatherproofing and various other applications. These compounds are a type of adhesive, found commonly in liquid or gel-like form, which are cured or dried to achieve optimum adhesion. Unlike other adhesive forms, silicone is able to remain stable and elastic at low as well as high temperatures, and demonstrates strong resistance to moisture, weathering and other chemicals.
One of the major trends driving silicone sealants market growth through 2027 is the growing number of ecological concerns associated with synthetic sealant and adhesive formulations. These concerns have led to a shift in focus towards more sustainable solutions, with manufacturers making targeted efforts to develop bio-based silicone sealant alternatives to conventional synthetic formulations. Bio-based sealants have strong chemical and mechanical properties, which make them highly efficient in many applications, as well as environmentally friendly.
In May 2021, Wacker launched its first sustainable silicone sealants range via the Elastosil eco product line, formulated with renewable raw materials, particularly methanol, which is the second most significant part of silicone. Bio-based methanol was used for formulation, derived from sustainable sources in compliance with the REDcert² standard, which verifies the traceability of sustainable raw materials, from upstream process to final sealant product before certification.
With regards to technology, the RTV (room temperature vulcanizing) silicone sealants segment is set to gain considerable traction up to 2027, owing to high product demand from a variety of industrial applications. RTV sealants demonstrate several beneficial properties, including adhesiveness, water-repellence and ability to hold shape, which makes the materials ideal for sealing applications in construction, particularly kitchens and bathrooms.
From a regional perspective, the Europe silicone sealants industry is poised to gain momentum over the forecast spell. This growth is attributed mainly to the increased product demand from the construction sector, as well as a growing focus on investments towards affordable housing in the region. Initiatives such as Eurocities, for instance, are emphasizing the need for affordable education, housing and healthcare infrastructure development, with cities like Florence, Berlin and Lyon taking up a Housing First approach in order to accelerate construction of social housing.
Key entities stimulating the silicone sealants market share dynamics include DuPont, BASF, Henkel, Dow Silicones Corporation (formerly Dow Corning), Sika AG, Shin-Etsu Silicones, RPM International Inc., Wacker Chemie AG, H.B. Fuller Company, Bostik, and 3M Company. Strategic initiatives, such as new product development, as well as mergers & acquisitions are being employed by these players, in order to boost their footprint across the global market.
For instance, in June 2020, RWC introduced two new moisture-resistant silicone fire sealant products, dubbed HydroFlame 300 caulk-grade and HydroFlame 300 self-leveling sealants, designed for applications with exposure to high moisture levels or that require UL-listed W ratings. These quick-curing silicone sealants can be utilized across a range of pipe types and flooring and wall penetrations.
During August 2020, prominent silicone and specialty chemical-based product supplier, Momentive Performance Materials inked an agreement with Henkel, for the sale of its Consumer Sealants division. This deal was aimed at elevating Henkel’s position as a leading provider of adhesives, sealants and other products for the construction sector.
Impact Of COVID-19-Related Shutdowns on Silicone Sealants Market Growth
The onset of the global health crisis caused by the outbreak of the novel coronavirus has asserted a devastating impact on the industrial sector worldwide. The construction industry, especially, has taken a massive hit, mainly due to the supply chain disruptions, raw material shortages and shutdowns of key facilities caused by the pandemic. According to the RICS 2020a (RICS Global Construction Monitor), which surveyed over 2000 industry professionals, nearly 25% of projects across the globe were put on hold due to COVID-19-related lockdowns. This decline in construction activities has also impacted peripheral industries, such as silicone sealants market, which is facing significant challenges to its growth.
However, gradual resumption of business activities, growing focus on construction and the subsequent rise in demand for materials such as silicone sealants may indicate prospects for recovery in the years ahead. Manufacturers are focusing on bolstering their capacity via takeovers and partnerships, in order to cater to the needs of an evolving market. For instance, in April 2021, Soudal acquired Momentive Performance Materials’ silicone manufacturing facility, in order to further boost its expansion in the high-quality sealants business.