Pune, India -- (SBWIRE) -- 05/24/2018 -- Silicone Adhesives Market–Market Overview
The market is segregated into one-component, and two-component type segments, wherein the one-component segment is estimated to lead the market and is most likely to retain its dominance over the forecast period. Silicone is extensively used in numerous end-use industries owing to the various characteristic features offered by the product such as excellent UV stability, solvent free, and other features to the final product. Moreover, growing consumption of Silicone Adhesives in buildings & construction and medical industry is set to boost growth of the market in coming years
Regionally, Asia Pacific accounts for the major share of the market on account of the growing demand for the product in buildings & construction, medical, and transportations sector.
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Industry/ Innovation/ Related News:
September 1, 2017- Shin-Etsu Chemical Co., Ltd., the largest chemical based in Japan has announced its plans to expand capacity of its Shin-Etsu Silicones of America (SESA) located at Akron, Ohio, the U.S. The expansion work is estimated to cost it around USD 21.43 million, and the expansion work is aimed for completion in the middle of 2019. The SESA's Akron Plant engages in manufacturing various silicone products that are used in variety of applications such as silicone rubber, liquid silicone rubber for adhesives and sealing materials, silicones for cosmetics and heat-dissipating, automotive.
May 9, 2017- The U.S. based leading industrial adhesives manufacturer H.B. Fuller, has entered into definitive agreement to acquire the U.S. based Royal Adhesives & Sealants L.L.C. The deal was finalized at USD 1.58 billion. This move by the H.B. Fuller fits their strategy to shift H.B. Fuller's portfolio towards engineering adhesives and other highly specified end markets.
March 17, 2017- Dow Corning Corporation, the U.S. based specialty chemical manufacturer launched Sealants and Silicone Adhesives exclusive for building and construction industry in Asia. The new range of these high performance materials are Dow Corning 121 Structural Glazing Sealant for structural glasses, Dow Corning® 896 PanelFix Silicone Adhesive, and Dow Corning® PanelFix system. This move is anticipated to fetch considerable revenue for the company on account of rapidly growing construction activities in this region.
Silicone Adhesives Market- Competitive Landscape
The Global Silicone Adhesives is a highly mature market with significant number of major players operating into the market. The market is driven by flourishing construction, automotive and sports equipment industry. The market is greatly concentrated by the presence of number large players yet, Wacker Chemie AG, Dow Corning Corporation, Shin-Etsu Chemical Co., Ltd, H.B. Fuller, and Momentive are the prominent manufacturers operating in this market. About all of these participants are mainly adopting the capacity expansion and product launch tactics to stiffen their market position and also meet growing demand for the product. Surging demand from automotive and construction industries and increasing events of the collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces driving growth of the market during the forecast period 2017-2023.
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