Rising demand from wide application areas and extreme temperature resistance properties drive the high temperature sealants market
The high temperature sealants market was USD 2.71 billion in 2016 and is projected to reach USD 3.56 billion by 2022, at a CAGR of 4.6% from 2017 to 2022. The growth of the market is primarily led by the requirement of extreme temperature resistant sealants, rapid industrialization, and increasing automobile production.
Electrical & electronics segment is expected to grow at the highest CAGR in the high temperature sealants market
The high temperature sealants market is segmented on the basis of application into, electrical & electronics, industrial, transportation, construction, and others. Amongst these, the electrical & electronics segment is projected to grow at the highest rate over the forecast period owing to the rising need for performance stability from electrical & electronics products. Exposure of electronic components to high temperature, heat and moisture has driven the demand for high temperature sealants in the electrical & electronics industry. The high temperature sealants application protects electrical equipment from heat, shock, and moisture and further ensures durability.
Asia Pacific expected to lead the market during the forecast period
The growth in end-use industries such as electrical & electronics, automotive, and construction is driving the demand for high temperature sealants in the Asia Pacific. Countries such as China, India, Malaysia, Indonesia, and Thailand are investing in residential and commercial buildings, which acts as an opportunity in the high temperature sealants market. China leads the regional market owing to the presence of an established electrical & electronics industry, and growing construction and automobile industries.
In the process of determining and verifying the market size for the several segments gathered through secondary research, extensive primary interviews were conducted as follows:
• By Company Type: Tier 1 (55%), Tier 2 (35%), and Tier 3 (10%)
• By Designation: C-level (25%), Manager Level (40%), and Others (35%)
• By Region: Asia Pacific (45%), North America (15%), Europe (20%), Middle East & Africa (10%) and South America (10%)
The key players profiled in the report include Dow Corning Corporation (US), Henkel AG & Co. KGaA (Germany), Wacker Chemie AG (Germany), Sika AG (Switzerland), H.B. Fuller (US), 3M Company (US), PPG Industries Inc. (US), Bostik SA (France), Illinois Tool Works Company (US), CSW Industrials Inc. (US), and Soudal N.V. (Belgium).
The report segments the high temperature sealants market on the basis of chemistries, applications, and regions. The major chemistries covered in the report are, silicone, epoxy, and others. The applications include, electrical & electronics, industrial, transportation, construction, and others. The market is also segmented on the basis of regions, namely Asia Pacific, Europe, North America, Middle East & Africa, and South America.
Reasons to buy this report:
This research report is focused on various levels of analyses—industry analysis (industry trends), market strategies analysis of top players, Porter’s analysis, company profiles, and competitive benchmarking, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the high temperature sealants market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on high temperature sealants offered by the top players in the global market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for high temperature sealants across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global high temperature sealants market
• Competitive Assessment: In-depth assessment of market strategies, products, and recent developments of the leading players in the high temperature sealants market