Silicone Caulk Market: Overview
- Caulk is an elastic material, which is primarily used for prevention of air leakage from cracks and joints in building components and materials, which are less than 0.25 inches in width. Caulk is employed for filling of cracks or gaps around kitchen tiles, doors, plumbing and pipes, windows, concrete, glass, gutter, and roofing. Furthermore, caulk also helps in preventing water or air from seeping into building materials.
Key Drivers of Global Silicone Caulk Market
- Silicone caulk is extensively used in various applications including automotive, industrial, building & construction, and electrical & electronics. Properties of silicone caulk such as toughness, waterproof nature, and ability to withstand temperatures ranging from −65°F to 300°F make it an ideal material for use in industrial and repair activities.
- Growth of the GDP and changes in economic conditions, rise in urbanization, and increase in investments in housing projects have led to increase in space requirements across the globe. This is likely to drive residential construction activities worldwide. These factors are projected to drive the demand for silicone caulk in the near future, led by its ability to prevent air leakage from cracks and joints and to prevent water seepage through construction joints. Furthermore, presently, the global building & construction sector is highly impacted by the rapid outbreak of coronavirus. However, the sector is expected to recover in the next few years. This, in turn, is expected to drive the demand for silicone caulk in the next few years.
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High Threat from Substitutes to Restrain Silicone Caulk Market
- Major substitutes of silicone caulk are siliconized acrylic, paintable silicone, butyl rubber, caulking chord, elastomeric sealant, adhesive caulk, and polyurethane. A major disadvantage of silicone caulk is lower adhesion in comparison to polyurethane caulk. High threat from substitutes is expected to hamper the global silicone caulk market in the next few years.
- Another prominent restraining factor for the global silicone caulk market is that silicone caulk is not used for holding structures of heavy weight, including beams.
Asia Pacific to Hold a Prominent Share of Global Silicone Caulk Market
- Based on region, the global market for silicone caulk can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Rise in the disposable income, rapid urbanization, increase in housing requirements, and favorable government initiatives are likely to boost the construction sector in Asia Pacific in the near future. For instance, government programs in India, such as Housing for All 2022, are expected to drive the construction sector in the country during the forecast period. Furthermore, developing economies in Asia Pacific are likely to provide lucrative opportunities to silicone caulk manufacturers in the near future, due to growth of the construction sector and rapid industrialization in these countries. All these factors are expected to drive the market for silicone caulk in Asia Pacific in the near future.
- The market in North America and Europe is expected to expand at a slower pace than that in Asia Pacific. The market in these regions is relatively mature than that in other regions. Furthermore, producers operating in North America and Europe are primarily launching new products to strengthen their market presence. In addition, providers of silicone caulk in both these regions are striving to develop bio-based silicone caulk, due to environment-related concerns and implementation of stringent regulations on the use of silicone caulk in these regions.
- The silicone caulk market in Latin America and Middle East & Africa is highly consolidated in nature, owing to presence of only a few manufacturers in these regions. Furthermore, both these regions rely on imports from developed nations in order to meet the domestic demand for silicone caulk.
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Key Players Operating in Global Silicone Caulk Market
The global silicone caulk market is highly fragmented. It is dominated by a large number of large-sized manufacturers and a few small-sized manufacturers. Key players operating across the globe are extensively engaged in research & development and merger & acquisition activities to gain higher market share. Some of the manufacturers operating in the global silicone caulk market are:
- Henkel AG & Company, KGaA
- Momentive Performance Materials Inc.
- Custom Building Products Technical Services
- H.B. Fuller Construction Products Inc.
Global Silicone Caulk Market: Research Scope
Global Silicone Caulk Market, by Bonding Substrate
Global Silicone Caulk Market, by End-use Industry
- Building & Construction
- Electrical & Electronics
Global Silicone Caulk Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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