High Temperature Sealants Market Analysis by Chemistry (Epoxy, Silicone, and Others); by Application (Transportation, Construction, Industrial, Automotive, Electrical & Electronics, Chemical & Pharmaceuticals, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4801 | Published Date: Apr 08, 2023
The global high temperature sealants market size is estimated to reach ~USD 10.98 Billion by the end of 2035 by growing at a CAGR of ~7.6% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of high temperature sealants was approximately USD 4.56 Billion. The growth of the market can be attributed to the increasing production and demand for automobiles. Owing to their suitability for a hot engine, high-temperature silicones are frequently utilized in automobiles. In 2023, the production of motor vehicles is likely to be over 15 million in the United States, an increase of over 1 million vehicles. In addition to this, retail sales of new cars likely increased by approximately 4% to nearly 1 million in December 2023 from a year earlier as inventories continued to rise.
In addition to these, factors that are believed to fuel the market growth of high temperature sealants drugs include the rising demand for high-temperature sealants in the pharmaceutical, industrial, and chemical industries. High-temperature sealants can be used as a gasket dressing to increase the lifespan of conventional gaskets and are made to allow easy removal during routine maintenance. These are thick, fibrous pastes that are thermally reactive and expand upon curing to fill huge gaps. Moreover, they may seal steam, hydrocarbons, gases, and other process fluids that are generally found in power plants, pulp and paper mills, and mines.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7.6% |
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Base Year Market Size (2022) |
~USD 4.56 Billion |
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Forecast Year Market Size (2035) |
~USD 10.98 Billion |
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Regional Scope |
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Growth Drivers
Rising Demand for Agriculture Tractors – High temperature sealants are an ideal material for making gaskets for the heavy-duty application, such as recreational vehicles, agriculture trucks & tractors, and others. Domestic sales in the Indian tractor industry reached roughly 678,869 units by the middle of 2022, and they first exceeded 900,000 units annually in that same year.
Growing Constructional Activities – High performance sealants can endure harsh temperatures, sunlight, and moisture. High temperature sealants are weather resistant and widely utilized in construction. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, as of February 2023, 1,524,000 building permits were issued, out of which 1,45,000 constructions of houses started and 1,557,000 house construction was completed.
Increasing Manufacturing of Medical Devices – High temperature sealants provide great reliability to medical devices and are able to resist exposure to UV light or at room temperature. In 2020, the Mercedes-Benz Formula 1 team collaborated with University College London to create a new design for ventilators that are produced in large quantities. The team is already producing around 1,000 units per day.
Growing Production of Semiconductor– For the production of semiconductors including automotive semiconductor, the high-purity sealing materials with metal ion concentrations are essential. Sales of semiconductors increased by 313 percent from USD 139 billion in 2001 to USD 573.5 billion in 2022 across the globe. The increased demand for semiconductors across the economy is reflected in the 290 percent growth in semiconductor unit sales over the same time period.
Rising Sales of Automobiles – High temperature sealants work well for sealing drive axles, exhaust systems, and engines and gearboxes. High temperature silicone ensures a quick and adaptable connection that is impervious to water, petrol, alkalis, acids, and oils as well as changing weather conditions. In the world, around 80 million automobiles were produced in 2021, which is approximately a 1% rise from 2020.
Challenges
The global high temperature sealants market is segmented and analyzed for demand and supply by application into transportation, construction, industrial, automotive, electrical & electronics, chemical & pharmaceuticals, and others. Out of the seven application of high temperature sealants, the electrical & electronics segment is estimated to gain the largest market share of in the year 2035. The growth of the segment can be attributed to the increasing demand for electronics. Heating elements in electrical appliances should be sealed and encased for continuous operation up to 500oF. Moreover, high temperature sealants are used in various electrical appliances, including ovens, boilers, stoves, clothing irons, electrical appliances, and other. In 2023, around 1 piece of consumer electronics is anticipated to be purchased on average per person across the globe. Moreover, over the next 30 years, the demand for household air conditioning in the United States is anticipated to rise by 59 percent. Additionally, around 88% of American houses had air conditioning in 2022.
The global high temperature sealants market is also segmented and analyzed for demand and supply by chemistry into epoxy, silicone, and others. Amongst these three segments, the silicone segment is expected to garner a significant share in the year 2035. The growth of the segment is primarily attributed to the high efficiency of high temperature silicone adhesives and sealants. High-temperature silicone sealants are resistant to age, shock, vibration, and temperatures as high as 600 degrees Fahrenheit. Silicone is more resistant to chemicals, moisture, and weathering than those other adhesives. Moreover, it maintains stability and elasticity at both high and low temperatures. They are specially designed to enclose and seal industrial seals and heating elements. Although having the appearance, feel, and behavior of a gel, silicone sealant is a liquid kind of glue. Moreover, compared to other, more organic polymer-based adhesives, it is manufactured with a different type of chemical composition.
Our in-depth analysis of the global high temperature sealants market includes the following segments:
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By Chemistry |
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By Application |
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The market share of high temperature sealants in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~30% by the end of 2035. The growth of the market can be attributed majorly to the rising production of semiconductors in the region. By the end of 2024, China is likely to have built 31 new chip plants, outpacing Taiwan's 19 and the United States. Furthermore, Gujarat is likely to become home to India's first semiconductor production facility owing to investments of USD 18,000 million from Vedanta and Taiwanese electronics manufacturing giant, Foxconn. The plant is expected to be built on a 1000-acre plot of land.
In semiconductor production operations, high temperature sealing performance is necessary. Even within the most sophisticated class of rubber compounds, perfluoro elastomers, there can be considerable performance variations. On the other hand, the rising demand for smartphones in the region is also expected to boost the market growth in the region.
The North American high temperature sealants market is estimated to be the second largest, registering a share of about ~28% by the end of 2035. The growth of the market can be attributed majorly to the rising demand for smartphones. Silicone encapsulants are utilized to reduce vibration surrounding the fingerprint sensor for improved PCB cushioning flexibility. Silicone sealants are also used in smartphone fingerprint sensor assemblies to help achieve an IP waterproof rating. With around 298 million smartphone users in the US as of 2021, the country has one of the largest smartphone markets in the world. Moreover, the smartphone penetration rate in the US has been steadily increasing over the previous few years, reaching approximately 85% in February 2021
Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the rising demand for microwaves and ovens in the region. Compared to mechanical fastening techniques, adhesives have numerous remarkable benefits. The outer and inner windows are adhered to the frame primarily using adhesive sealants in microwaves and ovens. Owing to their excellent solutions for making microwaves and ovens, silicone sealants and adhesives are excellent glass-bonding adhesives. Moreover, it can tolerate heat up to 250 degrees Celsius. The high temperature sealants have high flame retardancy and are environmentally friendly and sustainable.
Sika AG announced the opening of a new technology hub and manufacturing facility for premium adhesives and sealants in Pune, a city in the Maharashtra. The output at the new plant and the advancements made at the new R&D labs are intended to fulfill the expanding demand of the Indian market.
Agility PR Solutions LLC announced the launch of LOCTITE NS 5540 and 5550 formulated for use in high temperature and high-pressure environments, exclusively. It can seal flanges up to a 20 MPa pressure (2900 psi). LOCTITE NS 5550 is advised for pressure needs up to 34.5MPa (5000 psi).
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Increasing demand for automobiles, the rising need for medical devices, and the growing constructional activities are the major factors driving the market growth.
Ans: The market size of high temperature sealants is anticipated to attain a CAGR of ~7.6% over the forecast period, i.e., 2023 – 2035.
Ans: Indefinite price of raw materials, and ozone depletion caused by VOCs are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Hylomar Ltd., CSL Silicones Inc., NUCO Logistics Inc., Sashco, Inc., Mcgill Airseal LLC, 3M, Momentive Performance Materials Inc., H.B. Fuller Company, Sika AG, and Agility PR Solutions LLC
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by chemistry, application and by region.
Ans: The electricals and electronics segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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