China silicone sealants market follows its construction industry, which dominated Asia Pacific with an estimated spending of approximately USD 1.78 trillion in 2013, making it the largest. Also, India and Indonesia construction spending was estimated at USD 427 billion & USD 267 billion respectively in 2013. Total Asia Pacific construction spending amounted to approximately USD 3.59 trillion and accounted for close to 44% of the total revenue share in 2013.
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Construction sector represents the dominant segment for silicone sealants demand. Increasing in construction spending over the last few years particularly in Asia Pacific and MEA is likely to drive silicone sealants market growth over the forecast period. Countries such as China, India, Indonesia, Saudi Arabia and UAE have witnessed an increase in investments and government sanctions to construct residential and commercial buildings.
Increasing automobile production coupled and growth witness in automobile aftermarket are factors expected to drive automotive silicone sealants market growth over the forecast period. Shift of automobile manufacturing bases to emerging countries such as China, India, Indonesia and Thailand owing government incentives & cheap labor wages is expected to make Asia Pacific an important market for industry participants.
These products are used for numerous automobile bonding applications such as sealing joints, gaps & cracks, low temperature gasket and replacing windscreens. They are also used for bonding headlamps, fog lamps, tail lamps, lamp covers & cap and bulb mounting sockets.
Growth in end-use industries such as pharmaceuticals, cosmetics and food & beverages is expected to drive silicone sealants demand for packaging applications. However, stringent government regulations over environmental concerns are likely to hamper industry profitability. Investments in research to develop the product for niche applications are likely to open new avenues of growth for industry participants.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the silicone sealants market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the silicone surfactants market
- Demographics and statistical data
Asia Pacific has been the dominant region over the past few years and is also likely to witness significant gains over the forecast period. Growth in end-used industries such as automobiles and construction is likely to favor regional demand. North America silicone sealants market is likely to witness moderate growth over the forecast period. Post recession recovery in the U.S. has prompted an increase in consumer spending coupled with government initiatives to increase infrastructure spending.
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Europe is likely to witness below average gains over the forecast period. This region is expected to witness an increase in demand owing to growth observed in end-use industries such as food & beverages and cosmetics particularly in Germany, France and UK silicone sealants market. This end-use industry growth is expected to boost packaging applications in the region. MEA is likely to witness significant gains over the forecast period owing to increase in construction spending in countries such as Saudi Arabia, UAE, Qatar and Bahrain.
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