World News: 10:48 GMT Tuesday 14th January 2020. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Jan. 14, 2020 (GLOBE NEWSWIRE) -- The report has been added to offering.
This analysis projects the market to grow at a significant CAGR of 4.13% on the basis of value during the forecast period 2019-2029, reaching $1.72 billion by 2029.
Asia-Pacific dominated the global RTV silicone market with a share of 41.82% in 2018. Asia-Pacific, including the major countries, such as China, is the most prominent region for the RTV silicone market. In North America, the U.S. acquired a major market share in 2019 due to a growing construction and aerospace sector in the country.The global RTV silicone market has gained widespread importance owing to a gradually developing automotive and construction industry. However, the usage of other sealants such as epoxy and acrylic sealants for various applications may hamper the market growth of the RTV silicones during the forecast period.The increasing demand of RTV silicones in automotive segment due to its insulating, sealing, and bonding properties is boosting the overall growth RTV silicone. Moreover, the increased automotive electronics per vehicle and growth in sales of hybrid and electric vehicles is propagating the demand of RTV silicones.The report on global RTV silicone market research provides detailed market information for segmentation such as by type, applications, and regions. The purpose of this market analysis is to examine the RTV silicone market outlook in terms of factors driving the market trends, technological developments, and competitive benchmarking, among others. The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contributions of the key players operating in the market.The global RTV silicone market is further segmented by type, application, and region. The construction application dominated the global RTV silicone market in 2019 and is anticipated to maintain its dominance throughout the forecast period (2019-2029). While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes different types of RTV silicone that includes RTV-1 and RTV-2. In the application segment, the market is segmented into construction, automotive, electrical and electronics, aerospace, and others. The RTV silicone market is segregated by region under four major regions, namely, North America, Europe, APAC, South America and Middle East and Africa. The report contains data for each of these regions (by country). The key market players in the global RTV silicone 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, Illinois Tool Works Inc., Novagard Solutions, Shin-Etsu Chemical Co., Ltd, Sika AG , The Dow Chemical Company, and Wacker Chemie AG."
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Globe Newswire: 10:48 GMT Tuesday 14th January 2020
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