High Temperature Sealants Market - Forecast 2022-2027
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<span lang="EN-US" times="" new="" roman";mso-hansi-font-family:calibri;="" mso-bidi-font-family:calibri;color:black;mso-fareast-language:en-in"="" style="box-sizing: border-box;">. <span lang="EN-US" times="" new="" roman";mso-hansi-font-family:calibri;="" mso-bidi-font-family:calibri;mso-fareast-language:en-in"="" style="box-sizing: border-box;">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)
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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<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">. 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.
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