High Temperature Sealants Market Share

APAC Market Forecasts

Asia Pacific industry is likely to dominate majority revenue share of 30% by 2037. This is due to its huge population, a rapid shift to cheap and skilled labor, and growing interest in the region by Western companies. China and India are major contributors to the growth of the market in the Asia-Pacific region. This growth is primarily due to the increasing industrialization, and the surging spending upon infrastructure developments in countries such as India, China, and Others. According to the data, the average infrastructure spending in China was around 9 times more than in the United States in the year 2021.

The growing agriculture sector is increasing the demand for agriculture machinery including tractors for heavy-duty applications. The domestic sales in the Indian tractor industry reached roughly 678,869 units by the middle of 2020, and they first exceeded 900,000 units annually in that same year.

North American Market Statistics

The high temperature sealants market in the North American region is expected to register 28% share by the end of the forecast period. Manufacturers in the North America region are constantly striving to improve the properties and performance of sealants, such as chemical resistance, thermal stability, adhesion, and others. Moreover, rising investment for advancements in material science and manufacturing technologies contributes to the development of innovative high-temperature sealant solutions in the region.

The rising demand for smartphones in the region requires silicone sealants for fingerprint sensor assemblies to help achieve an IP waterproofing rating. There have been 298 million smartphone users in the United States, as of 2021.