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Market Research Future (MRFR) studied the global Silicone Adhesives Market 2021 for the study period till 2027. As per MRFR data, the global silicone adhesive market is expected to surge at high CAGR and earn substantial turnover by 2027.
The surge in sales of silicone adhesives for medical and automobile applications can support expansion of the market in the near future. The increasing awareness about thermal stability, durable nature, and lightweight benefits offered by silicon adhesives to the final product can is observed to increase its demand, which, in turn, is expected to support expansion of the silicon adhesive market in the years ahead. Reliability and versatility advantages offered by silicon adhesive can also provide thrust to the market upsurge. The increasing scope of application of silicone adhesive in different sectors, such as; medical, buildings & construction, electrical & electronics, and transportation among others can improve the impetus of the market. On the contrary, high manufacturing price can hinder expansion of the market in the analysis period.
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The segment assessment of the global silicone adhesives market is based on application, type, and technology.
The type-based segments of the global market of silicon adhesive market are two-component segments and one-component. The one-component segment is expected to garner high revenue in the near future due to surge in the demand for one-component silicone adhesive for heavy end-use, such as; transportation, buildings & construction, and medical among other sectors.
The technology-based segments of the silicon adhesive market are non-pressure sensitive adhesives and pressure sensitive adhesives. The segment of pressure sensitive adhesives of the market is likely to expand at high pace in the years to come. The increasing consumption of pressure sensitive adhesives can be attributed to its growing consumption in sought-after commodities, such as; gaskets, tapes, and labels among others. These rise in cognizance about benefits of pressure sensitive silicone adhesives, such as; flexibility and mechanical strength to products can improve its sales, which, in turn, can support expansion of the market in the review period.
The application-based segments of the silicon adhesive market are medical, buildings & construction, transportation, and electrical & electronics among others. The medical sector segment is expected to leading the application segment with a high CAGR in the analysis period. The extensive utility of adhesives owing to its properties, such as; better UV stability, impart high temperature resistance, and weather-proof among other features can favor the market in the years ahead.
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In Asia Pacific, the expansion of the silicon adhesive market is likely to be attributed to the high sales. The regional market rise can be underpinned by increasing sales of products that offer better flexibility, and long shelf life advantages due to silicone adhesives. In addition, high consumption of silicon adhesive in major industries can also promote APAC market rise.
In North America, the rise of the silicone adhesives market can be attributed to the booming healthcare sector. The expansion of North America silicon adhesive is likely at a significant pace due to increasing demand for different multiple solutions offered by silicon adhesive in buildings & construction, and transportation sectors can promote expansion of its market in the study period.
In Europe, the presence of multiple investors and manufacturers those focusing on water-borne and solvent-based products for end-use applications can support expansion of the EU market. The growth of Europe silicon adhesive market can be attributed to rapid changes in medical and construction sectors.
In Latin America, the surge in constructional activities can promote the expansion of the market in the years to come. The silicon adhesive market in MEA is expected to earn a substantial revenue by end of the study tenure as the demand for silicone adhesives across automobile and building sector is observed to increase.
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Eastman Chemical Company (U.S.), H.B. Fuller Company (U.S.), Ellsworth Adhesives (U.S.), Henkel AG & Co. KGaA (Germany), Ashland (U.S.), 3M (Germany), AVERY DENNISON CORPORATION (U.S.), Beardow Adams (U.K.), The Dow Chemical Company (U.S.), and BOSTIK SA (France.) are some reputed companies in the global silicone adhesives market that are listed by MRFR.