Silicone Sealants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

 Silicone sealants are the most used type because of their unique properties, such as curing between temperatures of 40 degrees F to 140 degrees F, with drying only, good adhesion to porous surfaces, etc. Silicone sealants are widely used in the construction industry because of their applications, such as waterproofing, weather sealing, and crack sealing. The global construction industry is expected to grow at 3.5% per annum up to 2030. China, India, the United States, and Indonesia are expected to account for about 58% of global construction. Silicone sealants are widely used in the automotive industry because they apply to glass, metal, plastic, and painted surfaces. Their features are helpful in the automotive industry, such as extreme weather resistance, durability, and long-lasting. They are used in engines and car gaskets. The electric vehicles segment of the automotive industry is expected to record a 17.75% CAGR during the forecast period because of the increase in demand for the same in growing economies. This is expected to boost demand for automotive silicone sealants in the forecast period. The Silicone Sealants Market is projected to register a CAGR of 6.47%

Silicone sealants are consumed across the globe due to their strong sealing properties. These sealants are used in more than ten industries, including building and construction, automotive, and electronics. Silicone sealants are consumed mainly in the building and construction industry. The new floor area, including residential and non-residential buildings, was expected to reach 41.7 billion square footage in 2022, 6.15% more than in 2021. As a result, the consumption of silicone sealants witnessed a growth of 8.33% in 2022 compared to 2021.

The demand for silicone sealants fell by 9.09% in 2020 compared to 2019 due to the COVID-19 pandemic's impact on many countries worldwide, including the United States, Germany, China, and Saudi Arabia. Production facilities were shut down during the period owing to lockdowns in many countries, which resulted in an irregular supply of raw materials for production.

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