Countries in Asia Pacific such as China, Japan, and India are witnessing a significant demand for High Temperature Sealants Market due to the rise in Electronics and Automotive Industries
A high temperature sealant is a substance which is used to block the passage of fluids through a surface or joints in materials. High temperature sealants are emerging as a substitute to adhesives in several manufacturing industries, as they typically have lower strength and higher elongation as compared to adhesives. High temperature sealants are majorly utilized for a variety of metal surfaces such as aluminum, tin, steel, and iron. They are also employed for various applications such as fire protection equipment, installation of ceramic flue liners, jointing vermiculite, construction and high temperature plasterboards.
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Factors such as increase in demand for electrical components in industrial applications is a major driver of the market. Properties such as extreme temperature resistance, high durability, and excellent bond strength makes high temperature sealants suitable to be utilized in automotive and construction industries. This, in turn, is likely to boost the demand in these industries during the forecast period.
Additionally, increasing automobile production in countries such as China, India, and Japan is also attributed to drive the market. Rapid expansion of electrical and electronics and construction industries is also fueling the demand for high-temperature sealants across the globe. The global high temperature sealants market has witnessed numerous growth opportunities over the last few years and is estimated to expand at a significant pace during the forecast period.
Volatile raw material prices and availability of substitutes are major factors restraining the market. Furthermore, the need to paint twice after application of silicone is a major hindrance in the expansion of the high temperature sealants market.
Based on chemistry, the global high sealants market is segregated into silicone, epoxy, and others. It is widely employed in industrial construction, as it blocks dust, sound, and heat transmission.
In terms of application, the high temperature sealants market can be segmented into electrical and electronics products, industrial uses, automotive, transportation, construction, and others. High temperature sealants are largely utilized for dressing or manufacturing materials in electronics and electrical assemblies. They also help in easy maintenance of clamping loads and lends a leak-proof characteristics in electronics, automotive, and transportation industries.
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In terms of geography, the global high temperature sealants market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among these, The countries in Asia Pacific such as China, Japan, and India are witnessing a significant demand for high temperature sealants due to the rise in electronics and automotive industries base. These nations are focusing on market strategies such as mergers, acquisitions, and increasing partnerships. A major emphasis has been on technological advancements, innovations, and R&D activities to grab considerable market opportunities. They are also focusing on strengthening their market capabilities in terms of their manufacturing and industrial base.
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Key players operating in the high temperature sealants market are Dow Corning Corporation, HB Fuller, Bostik SA, CSW industries Inc., 3M Company, Henkel AG & Co., Wacker Chemie AG, Sika AG, and PPG Industries Inc.