Construction Silicone Sealants Market worth $4.5 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 2, 2021 /PRNewswire/ -- According to the new market research report "Construction Silicone Sealants Market by Type (One Component, two Component), Curing Type (Acetoxy, Alkoxy, Oxime), Application, End-Use Industry (Residential, Commercial, Industrial) and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Construction Silicone Sealants Market size is expected to grow from USD 3.5 billion in 2021 to USD 4.5 billion by 2026, at a CAGR of 5.0% during the forecast period.
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The growth is due to the growing demand for windows & doors systems, weatherproofing and other applications throughout the world. The silicone sealants are widely used for glazing, bathroom, and kitchen applications. The increasing demand from residential housing and commercial offices, along with rising infrastructure output from key sub-sectors, such as roads, rail, energy, and water and sewerage, is boosting the demand for construction silicone sealants.
Insulating glass is expected to be the fastest-growing application in the Construction silicone sealants market during the forecast period.
Insulating Glass is the fastest-growing application segment in the Construction silicone sealants market. Rising number of energy-efficient construction projects in residential and commercial end-use industries will drive the demand for silicone sealants in the insulating glass application. It accounted for a share of about 14.4% of the construction silicone sealants market, in terms of value, in 2020.
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APAC is expected to hold the largest market share in the global construction silicone sealants market during the forecast period.
APAC accounted for the largest share of the Construction silicone sealants market in 2020. The market in the region is growing because of growing building & construction activities in emerging countries, increasing domestic demand, income levels, and easy access to resources. The market is also driven by foreign investments, supported by cheap labor and economical and accessible raw materials.
Dow (US), Wacker Chemie AG (Germany), Elkem ASA (Norway), Momentive (US), and Shin-Etsu Chemical Co. Ltd. (Japan), are the leading construction silicone sealants manufacturers, globally.
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CONSTRUCTION SEALANT MARKET - GLOBAL FORECAST TO 2022
By Resin Type (Silicone, Polyurethane, Polysulfide), Application (Glazing, Flooring & Joining, Sanitary & Kitchen), and Region (Asia-Pacific, Europe, North America, South America, Middle East & Africa)
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