Silicones are durable materials, which can resist decay caused due to several adverse conditions, such as rough weather, moisture, and sunlight. Silicones bond with multiple materials, such as aluminum, steel, and plastics. Moreover, they have effectively proven to prevent humidity as well as hot and cold air in joints and cracks of buildings. In addition, silicones in construction industry are essential in residential and office buildings, bridges, oil rigs, industrial plants, and pipelines. Furthermore, these coatings have resulted in preservation of monuments as well as in structural glazing (vast expanses of glass that are a feature of modern architecture).
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. 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:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
Other players in the value chain (profiles not included in the report) include: -
*The above list of companies is not profiled in the report, but can be added based on client interest.
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