Silicone in Construction Industry Market Expected to Reach $1.9 Billion by 2030

According to a new report published by Allied Market Research titled, “Silicone in Construction Industry Market by Form, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” The silicone in construction industry market size was valued at $1.0 billion in 2020, and is projected to reach $1.9 billion by 2030, growing at a CAGR of 6.2% from 2021 to 2030.

Silicones in construction industry are regarded as a large class of synthetic materials that consist of silicone sealants, adhesives, and coatings, which help make buildings durable, comfortable, and energy-efficient. Silicones as a building material are extremely durable and resist decay caused by severe weather conditions, moisture, or sunlight. Silicones also enable innovative architecture and engineering feats, such as dramatic glass facades or curved and suspended structures. Silicone coatings help paints for better adherence to surfaces, disperse color pigments, and resist damages from weather and staining. Moreover, sealants also add flexibility to building structures, allowing materials to absorb stress and movement caused by wind or earthquakes. In addition, silicone adhesives are deployed for preventing humidity and hot and cold air from coming inside buildings through joints and cracks. 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.  

The demand for silicone in construction industry has increased, especially in the structural types, such as factory and field glazing, owing to the sealing characteristics of silicone adhering to glass, reflective glass, anodized aluminum, granite, and paint.

For instance, silicones exhibit a medium modulus, which offers an extremely high tensile adhesion strength of 150 psi. In addition, silicone used as sealants in buildings is an excellent product for general weatherproofing types, including perimeter sealing of door and window framing. Moreover, the demand for silicone elastomeric coating for removal of failed sealants and revitalized appearance of buildings, acts as a promising opportunity for the growth of the global silicone in construction industry market.

Furthermore, increase in usage of silicone elastomers in sealants and structural glazing types, majorly drive the market growth. Thus, the silicone elastomers segment is expected to witness significant growth rate in the silicone in construction industry market during the forecast period.

The global silicone in construction industry market offers various opportunities to the market players, owing to rapid growth in the global economy and disposable incomes. Increase in use of silicone in construction industry as well as growth in the construction industry, especially in China and India are some prominent aspects that augment the growth of the silicone in construction industry market. 

By form, the silicone elastomer segment dominated the global market in 2020, and is anticipated to maintain its dominance during the forecast period. The silicone elastomer segment is projected to grow at a significant CAGR of 6.9% during the forecast period. Silicone elastomers are expected to witness rapid adoption in architectural types owing to its properties, such as ozone and UV resistance, high thermal conductivity, exceptional weather ability, easy to fabricate or process, high gas and drug permeability, outstanding electrical insulating properties, and lower flammability.

By type, the silicone sealant dominated the global market in 2020. Increased need for silicone sealants in the construction industry for its higher elongation and lower strength characteristics makes it ideal for sealing joints and assemblies. Moreover, increasing construction activities, particularly in the BRIC region (Brazil, Russia, India, and China) is another factor anticipated to fuel the demand for silicone sealants in the construction industry. 

The key players operating in the global silicone in construction industry market include, Silchem Inc., ICM Products, Inc., Speciality Silicone Products Incorporated, Wacker-Chemie GmbH, Evonik Industries AG, Hutchinson, Kemira Oyj, Quantum Silicones, Kaneka Corporation, and The Dow Corning Corporation. 

Other players in the value chain of the silicone in construction industry market (profiles not included in the report) include, Mesgo S.P.A., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Reiss Manufacturing Inc., KCC Corporation, Shin-Etsu Chemical Co., Ltd., Momentive Performance Materials Inc., Ashland Incorporated, CRI-SIL Silicone Technologies, LLC, CSL Silicones Incorporated, and Elkay Silicones.

Covid-19 Impact On Market

• The silicone in construction industry market was impacted by the COVID-19 pandemic in terms of distribution and logistics. Silicone production and distribution came to a halt because of the economic downturn due to the pandemic. 
• The COVID-19 pandemic also disrupted the building and construction industry, resulting in reduced usage of silicone in the construction industry. 
• The global COVID-19 pandemic hindered inter-country activity and import and export of silicones due to varied economic and legal limitations globally. As a result, the silicone demand in the building and construction industry suffered a significant downfall. However, by the end of 2021, the situation was expected to improve.

Key Findings Of Study

• The silicone in construction industry market size is provided in terms of $million.
• By form, the silicone elastomer segment emerged as the global leader by acquiring around 44.3% market share in 2020 in terms of revenue, and is anticipated to be the largest market during the forecast period.
• The silicone in construction industry market share is analyzed for all significant regions and countries. 
• On the basis of type, the sealant segment emerged as the global leader, registering 51.2% market share in 2020 in terms of revenue, and is anticipated to continue its dominance during the forecast period.
• On the basis of application, the sealing segment emerged as the global leader, registering 36.6% market share in 2020 in terms of revenue, and is anticipated to continue its dominance during the forecast period.
• Region wise, Asia-Pacific is the major consumer of silicone in construction industry among other regions. It accounted for around 47.8% of the global market share in 2020 as a result of rapid growth in the construction sector across the region.