A report of the global RTV silicon market size shows the market is expected to reach USD 1.61 Billion in 2028 at a CAGR of 4.0% during the forecast period. Growing demand for electric vehicles, innovation and advancements in electronic components, and increasing demand for medical devices are key factors boosting revenue growth of market. RTV silicone, also known as room-temperature-vulcanizing silicone, has physical properties such as high resistance to water, temperature, and chemicals. These remarkable physical properties of RTV silicone has boosted its demand and application in various end-use industries over the recent years. It is also widely used in molding and production casting of resins, plaster, and low melt metal alloys such as zinc, pewter, and tin, among others.
RTV silicones are also used in 3D printing and can be used in several craft projects such as creating sculptures, models, and stencils. It is non-toxic and odorless. It has superior properties as compared to other craft adhesives such as other adhesives are water-based and shrink after drying whereas RTV silicone retains its shape and translucency even after drying. Its remarkable properties such as temperature and water resistance and enhanced flexibility has boosted its adoption in other industries for sealing of water tanks and fuel systems. RTV silicone can absorb vibrations and this has increased its application in damaged parts of car engines to develop a seal. RTV silicone is also used in areas such as door frames, around windshields, and roof seams vinyl tops in the automotive sector. It is also used as sealant, particularly in construction of kitchens and bathrooms.
Some Key Highlights in the Report:
- The construction segment revenue is expected to expand significantly, registering a revenue CAGR of 4.7% during the forecast period. Increasing construction activities globally has been boosting the demand for RTV silicone.
- RTV-2 segment accounted for significant revenue share in global market in 2020 and is expected to register a steady revenue CAGR during the forecast period.
- Offline segment accounted for largest revenue share in 2020 amongst other marketing channel segments. The segment is expected to register a robust CAGR during the forecast period.
- Europe accounted for a 23.5% revenue share in the global market in 2020 and is expected to register significant revenue growth during the forecast period. The growth can be attributed to increasing expansion of electronic and automotive sectors.
- North America is expected to register a steady revenue CAGR during the forecast period attributable to rapid construction activities and increasing advancements in automotive and aerospace sectors in the region.
- Major companies operating in the market include Elkem ASA, Acrabond Adhesives Private Limited, KCC Corporation, American Sealants, Inc, Anabond, Avantor, Inc., CHT Group, H.B. Fuller, Henkel AG & Co. KGaA, and Illinois Tool Works Inc.
- In February 2019, Pratley launched a new RTV silicone gasket maker which is chemical resistant and can sustain extreme temperatures ranging from -50°C to +300°C for shorter duration.
For the purpose of this report, Emergen Research has segmented the global RTV silicone market on the basis of type, end-use, marketing channel, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Construction Industry
- Electrical & Electronics Industry
- Automotive Industry
- Aerospace Industry
Marketing Channel Outlook (Revenue, USD Billion; 2018–2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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