High temperature adhesives and sealants market size is forecast to reach $10.2 billion by 2025, after growing at a CAGR of 5% during 2020-2025. The ability to adhere and withstand high temperature, increase its use in various end use industries and drives the growth of high temperature adhesives and sealants market globally. Increase in use of high temperature adhesives and sealants in electronic industries for sealing and encapsulating heating elements is fueling the growth of high temperature adhesives and sealant market. Surging demand of high temperature adhesive and sealants from aviation industries in order to maintain the bondage even at extreme temperature range also aids the growth of market.
Type of Resin- Segment Analysis
On the basis of resin, silicon segment holds the largest share of more than 30% in high temperature adhesives and sealants market in 2019. High temperature silicone sealants can bear extreme temperature and are resistant to aging, abrasion and solvents. High temperature silicone sealants are widely used in the sealing of high-rise building and bridge joints. After silicon, high temperature epoxy adhesive and sealants has shown significant growth. Epoxy sealants are extensively used in automotive, aerospace and marine industries as they provide good structural integrity.
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End Use – Segment Analysis
Electrical and electronics segment holds the largest share of more than 30% in high temperature adhesives and sealants market. High temperature sealants are used in electrical industry for joining electrical components due to their ability to conduct electricity, maintain bondage at elevated temperature and absorb shocks and vibrations. Apart from electrical, automotive segment has also shown significant growth. In automotive sector weight of vehicle plays an important role in increasing the efficiency of engine, thus high temperature adhesives and sealants are used to join parts instead of welding or soldering owing to decrease the weight of vehicle.
COVID-19 has impacted the growth of high temperature adhesives and sealants market. The outbreak of coronavirus has disrupted the global supply chain and transportation. Industries are being shuttered all around the world. The decrease in purchasing capital badly impacted the automotive and aviation sector, which in turn lowered the demand for high temperature adhesives and sealants. According to the Society of India Automobile Manufacturers (SIAM), passenger vehicle sales declined by 51% to 143,014 units in March 2020 whereas the sales of commercial vehicles crashed by 88%, further declining the demand of high temperature and sealants market from automotive industry.
Geography- Segment Analysis
APAC dominated the high temperature adhesives and sealants market with a share of more than 35% in 2019, followed by North America and Europe. Increasing population and rise in disposal income have increased the demand of automobiles and electronic gadgets subsequently propelling the growth of high temperature adhesives and sealants. According to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012-2018, with South East Asian countries having huge potential to grow. High temperature sealants are not only limited to bond plastics but also used in several areas of engines, radiators, batteries and transmission parts. Moreover, rapid industrialization and urbanization is also accelerating the growth of high temperature adhesives and sealants market.
Drivers – High temperature Adhesives and sealants Market
Growing demand in various end use industries
Rising demands in automotive and electrical appliances has augmented the growth of high temperature adhesives and sealants market. High temperature adhesives and sealants are used for dressing or making gaskets in production industries making the joints strong and leak-proof. Their ability to adhere on almost all metal and non-metal surfaces like glass, aluminium, plastics, iron etc. is likely to aid their market growth.
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Challenges – High Temperature Adhesives and Sealants Market
Volatile prices of raw material
Although high temperature silicone sealants are extremely used and find wide range of applications in end use industries, silicone-based adhesives and sealants are more expensive as compared to acrylic and epoxy based sealants. For instance, In February, 2018, Momentive has increased the prices on certain silicone sealants products due to the escalating raw material, energy and other costs. Volatility in prices of silicone acts as a restraint for the growth of high temperature adhesives and sealants market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the high temperature adhesives and sealants market. Major players in the high temperature adhesives and sealants market are Dow Corning Corporation, Wacker Chemie AG, Henkel AG & Co. , Sika AG, 3M Company, Bostik SA, H.B. Fuller, PPG Industries Inc. , CSW Industrials Inc. and Nitto Denko Corporation, among others.
In February 2020, Permabond Europe has launched a New Thermally Conductive, High Temperature Resistant Epoxy- Permabond ET5441. It offers high performance even at 180 degree Celsius and 5-6 MPa pressure.
In September 2019, 3M has launched a new scotch high tack box sealing tape 375+ for box sealing, splicing, recouperage and other packaging applications.
In June 2019, Henkel, has launched Loctite NS 5540 and NS 5550. They are thermally activated sealing compounds, designed for use in extreme temperature and pressure environments.
In October2018, Bostik, has launched Kizen HEAT, which latest in the Kizen product line for case and carton sealing applications. It offers fast set speed, a broad processing window, good thermal stability and adhesion to difficult substrates.
China has shown significant growth in the high temperature adhesives and sealants market owing to increasing demand from applications such as automotive and electrical industries.
Properties such as light weight, strong adhesion, durability and temperature resistance are the major factors contributing the growth of high temperature adhesives and sealants market.
High temperature silicone adhesives and sealants have less or no impact on environment, giving them advantage over other adhesives and fueling its market growth.
A. Structural Adhesive Market
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