High Temperature Sealants Market - Forecast(2024 - 2030)
High Temperature Sealants Market Overview
The High
Temperature Sealants Market size is projected to reach US$4.7 billion by 2027,
after growing at a CAGR of 4.9% during the forecast period 2022-2027. High
temperature sealants are extensively used where high temperature seal or
adhesive bond is required. They provide superior adhesion to several surfaces
and resistance to thermal shock. The major applications of these sealants encompasss sealing of fireplaces, stoves, chimney, heat chambers, boilers and
thermostat oven. Further, these are used for fire protection, sealing for glass
in domestic oven and installation of ceramic flue liners. The materials used
for the production of High Temperature Sealants comprises of bitumen, silicate,
epoxy resin and silica gel including many others. These are majorly used for
sealing, impregnating and waterproofing in any high temperature applications.
Many industries
across the globe have faced several challenges due to the COVID-19 pandemic.
The numerous industries such as electrical and electronics, automotive,
construction, aerospace and petrochemical have experienced pitfalls due to the
unavailability of raw materials. The production and demand in these industries
have declined due to an interrupted supply chain and cessation in
transportation. For instance, according
to International Organization of Motor Vehicle Manufacturer, in 2020, passenger
vehicle production was 19.9 million units in comparison to 21.3 million
produced in 2019, showing 6.5% decrease. Further, according to
UK’s Office of National Statistics, in 2020, the total new work construction output
in UK decreased by 16.3% with 17.2% reduction seen in public construction and
16% in private construction. With the pause in industrial production and distribution, the demand and
consumption of High Temperature Sealants has hampered to an extent.
Report Coverage
The report: “High Temperature Sealants Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the High Temperature Sealants industry.
Key Takeaways
- The notable growth in industries such as electrical and electronics, construction and automotive is driving the growth of High Temperature Sealants Market.
- Silicone High Temperature Sealants plays an important role in several applications such as refractories, industrial wire and cable and industrial furnaces which is expected to provide significant growth opportunity to increase High Temperature Sealants Market size in coming years.
- Increase in residential, commercia and industrial construction projects are expected to provide substantial growth opportunities for the industry players in near future in High Temperature Sealants industry.
Figure: Asia-Pacific High Temperature Sealants Market Revenue, 2021-2027 (US$ Billion)
For more details on this report - Request for Sample
High Temperature Sealants Market Segment Analysis – By Resin Type
The silicone
segment held the largest High Temperature Sealants Market share in 2021, with a
share of over 62%. High temperature
sealants are manufactured using organic and inorganic formulations. The
materials used for the production of High Temperature Sealants comprises of
bitumen, silicate, epoxy resin and silica gel including many others. These are widely utilized in several
applications such as cartridge heaters, seal ceramics, thermocouples and end
seals. Silicone sealants primarily used for High Temperature Sealants and
offers weather resistance seal, long lasting and superior adhesion, durability
and better flexibility. This acid curing silicone sealant react with
atmospheric moisture to produce highly elastic silicone rubber. It acts as a
protective coating in several applications and utilized for sealing, bonding
and assembling. The benefits associated with the use of these sealants are high
temperature resistance, ease of application and superior adhesion to glass,
enamel, ceramics and plastics. Thus, several benefits associated with the use of silicone sealants is
boosting the growth and is expected to account for significant High Temperature Sealants Market share.
High Temperature Sealants Market Segment Analysis – By End Use Industry
The construction segment is expected to grow
at a fastest CAGR of 7.2% during the forecast period in the High Temperature
Sealants Market. High temperature sealants are employed in
range of end use industries such as construction, electrical and electronics,
automotive and petrochemical including many others. High temperature sealants provide
adhesion to glass, ceramics, plastics and metal surfaces. These are used to
seal pipes, stacks and flanges. The excellent spreading ability and electrical
insulation properties are useful for electrical isolation, potting and cable
splicing. In construction industry, these sealants are utilized in high
temperature insulation boards, plasterboards, construction boards, tiles,
glazed surfaces and sealing of porous construction materials. Increase in
urbanization and need to build more homes in increasing the demand for these
sealants in order to withstand hard environmental conditions. For instance, as per European Union,
in December 2021, construction of building increased by 4.6% and civil
engineering by 3.3% compared to 2020. Thus, the increase in construction is
boosting the growth of High Temperature Sealants Market.
High
Temperature Sealants Market Segment Analysis – By Geography
Asia-Pacific held the largest High Temperature Sealants Market share in 2021, with a share of 36%. This growth is mainly attributed to the increase in industrialization in this region. The major growth in construction, electrical and electronics, automotive and petrochemical industries is further boosting the market growth. The region consists of major economies such as China, India, Japan and Australia where level of Automotive output has rapidly increased. For instance, as per the State Council for the People’s Republic of China, in July 2021 China has approved projects related to the development of affordable rental homes. Also, as per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. The significant growth in several industries in this region also demands for High Temperature Sealants.
High Temperature Sealants Market Drivers
Surge in production of Automobile
During the past few years,
automotive industry is growing at a substantial rate owing the increased demand
for automobiles. These sealants are ideal for hot engines, axle housings, oil
pump seals and chain covers. The High Temperature Sealants perform better as
compared to other sealant formulations. In automotive industry, these sealants
are mainly useful in automotive assembly and automotive gasketing application
such as valve covers, water pumps and oil pans. Thus, the growth in demand for
automotive and increase in its products is further boosting the demand for High Temperature Sealants. For instance, According
to International Organization of Motor Vehicle Manufacturer, in 2021, global
production volume of passenger vehicles was 57 million units showing 2%
increase compared to 55.9 million units made in 2020. Also, as per the November
2021 report of the Europe Automobile Manufacturer Association, the new
passenger car registration in the first ten months of 2021 increased up to 2.2%
with an increase shown in European Union markets like Italy showed 12.7%, Spain
showed 5.6% and France showed 3.1%. Thus, increase in automotive production is
further propelling the demand and is expected to account for substantial High Temperature Sealants Market size.
Growing construction activities across the globe
The growing
residential, commercial and industrial construction on account of high demand
for projects from growing population and industrialization is increasing the
demand for novel products in construction industry. Moreover, rapid
technological advancements have led to increase in the spending towards
infrastructure developments in several countries across the globe. The
materials used for the production of High Temperature Sealants comprises of
bitumen, silicate, epoxy resin and silica gel including many others. These
sealants are ideal for bathrooms, kitchen, shower and bathtubs. These are also
employed on windows and doors. Increase in construction projects, demand for
durable products which withstand hard environmental conditions. For instance,
according to UK’s Ministry of Housing, Community and Local Government, in Q1 of
2021, there were 49,470 completed homes in the UK, showing a highest figure in
over 20 years and 4% increase compared to the last 3 months of 2020. Further,
according to Statistics Canada, in January 2022, investment in institutional
building increased by 0.6% to US$1.12 billion while industrial construction
investment increased by 2.1% US$691.4 million since mid-2020. Thus, high growth
in construction activities in further propelling the growth of renewable
materials and is expected to boost renewable materials in construction market
size.
High Temperature Sealants Market Challenges
Disadvantages associated with the use of High Temperature Sealants
High Temperature Sealants provides several benefits such as high
temperature resistance, ease of application and superior adhesion in several
industrial usage specifically electrical and electronics, automotive and construction.
However, there are few disadvantages associated with the use of these sealants
such as high cost and sensitive to some surfaces which inhibit curing of these
sealants. Epoxy based sealants facilitate slow curing and epoxy cured sealants
are brittle in nature. Silicone based sealants are unable to handle heavy
loads, offers poor chemical resistance and less resistance to aggressive
fluids. Thus, the availability of substitutes may hamper the market growth.
High Temperature Sealants Industry Outlook
The top 10 companies in the High Temperature Sealants Market are -
- Henkel AG & Co. KGaA
- Wacker Chemie AG
- 3M
- Sika AG
- Bostik SA (Arkema)
- H.B. Fuller
- Ellsworth Adhesives
- PPG Industries Inc.
- Soudal N.V.
- CSW Industrials, Inc.
Recent Development
- In December 2021, Sika Ag has planned to expand its adhesive and sealants production in India with an opening of technology center in Pune. This center focuses on the production of high-quality adhesive and sealants for construction and transportation applications.
Relevant Reports
LIST OF TABLES
LIST OF FIGURES
1.US High Temperature Sealants Market Revenue, 2023-2030 ($M)2.Canada High Temperature Sealants Market Revenue, 2023-2030 ($M)
3.Mexico High Temperature Sealants Market Revenue, 2023-2030 ($M)
4.Brazil High Temperature Sealants Market Revenue, 2023-2030 ($M)
5.Argentina High Temperature Sealants Market Revenue, 2023-2030 ($M)
6.Peru High Temperature Sealants Market Revenue, 2023-2030 ($M)
7.Colombia High Temperature Sealants Market Revenue, 2023-2030 ($M)
8.Chile High Temperature Sealants Market Revenue, 2023-2030 ($M)
9.Rest of South America High Temperature Sealants Market Revenue, 2023-2030 ($M)
10.UK High Temperature Sealants Market Revenue, 2023-2030 ($M)
11.Germany High Temperature Sealants Market Revenue, 2023-2030 ($M)
12.France High Temperature Sealants Market Revenue, 2023-2030 ($M)
13.Italy High Temperature Sealants Market Revenue, 2023-2030 ($M)
14.Spain High Temperature Sealants Market Revenue, 2023-2030 ($M)
15.Rest of Europe High Temperature Sealants Market Revenue, 2023-2030 ($M)
16.China High Temperature Sealants Market Revenue, 2023-2030 ($M)
17.India High Temperature Sealants Market Revenue, 2023-2030 ($M)
18.Japan High Temperature Sealants Market Revenue, 2023-2030 ($M)
19.South Korea High Temperature Sealants Market Revenue, 2023-2030 ($M)
20.South Africa High Temperature Sealants Market Revenue, 2023-2030 ($M)
21.North America High Temperature Sealants By Application
22.South America High Temperature Sealants By Application
23.Europe High Temperature Sealants By Application
24.APAC High Temperature Sealants By Application
25.MENA High Temperature Sealants By Application
26.DOW Corning Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Wacker Chemie AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Henkel AG & Co. KGaA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Sika AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.3M Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Bostik SA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.H.B. Fuller, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.PPG Industries Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.CSW Industrials Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Soudal N.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)