The India silicone sealants for facades market size is projected to reach US$ 102.06 million by 2031 from US$ 51.88 million in 2023; the market is expected to register a CAGR of 8.8% during 2023–2031. The development of renewable silicone sealants is expected to emerge as a significant future trend in the India silicone sealants for facades market
Silicone sealants are used in the expansion, construction, connection, and movement of joints to ensure the stability of structural materials. Silicone sealants improve the durability of building structures, allowing materials to absorb stress and movement caused by uncertain climatic conditions. They also offer energy efficiency to the buildings and provide a barrier against air, dust, and sound. Silicone sealants are used for several applications, such as glass bonding, ceramic bonding, and crack repair. The growing residential and commercial construction activities create demand for construction services, chemicals, and materials. According to Invest India, the construction industry was the leading recipient of Foreign Direct Investment (FDI) in the country. The FDI in the construction development (townships, housing, built-up infrastructure, and construction development projects) sector accounted for US$ 26.54 billion between April 2000 and December 2023, as per the India Brand Equity Foundation. Thus, growing residential and commercial construction drives the market.
Silicone sealants are an important material in the building & construction industry, offering numerous advantages for sealing and bonding applications. Various advantages of silicone sealants are excellent weather resistance, superior flexibility, exceptional adhesion to various substrates, and good resistance to moisture and chemicals, among others. Silicone sealants have excellent adhesion to a wide range of substrates, including glass, metal, concrete, wood, and plastics. This versatility allows silicone sealants to be used in sealing joints, bonding materials, and adhering components.
The Government of India has taken several initiatives and investments in the construction sector over the past few years. Under the Union Budget 2023, the government sanctioned an annual urban infrastructure development fund of ~US$ 1,200 million to create urban infrastructure in tier 2 and tier 3 cities. Moreover, in the Interim Budget 2024–2025, the government announced initiatives to boost the housing sector of India, enhancing its affordability. Under the Interim Budget 2024-25, the government announced US$ 9.3 billion to the Ministry of Housing and Urban Affairs. As part of the PM Awas Yojana (Grameen), the construction of an additional 20 million houses is to be taken up in the next five years. Thus, the rising number of government schemes and policies to foster the construction industry fuels the India silicone sealants for facades market growth.
Key manufacturers operating in the market invest significantly in strategic development initiatives such as product innovation, business expansion, and research and development to enhance their market position and attract a wide customer base. In March 2023, Dow expanded its product portfolio with silicone sealant products to offer photovoltaic (PV) module assembly materials, supporting the global movement toward renewable energy. The DOWSIL PV product line contains six silicone-based sealants and adhesives solutions that offer durability and enhanced performance for frame sealing, rail bonding, junction box bonding and potting, and building integrated photovoltaics (BIPV) installation materials. Thus, strategic initiatives by key market players are expected to create lucrative opportunities in the market during the forecast period.
A key segment that contributed to the derivation of the India silicone sealants for facades market analysis is the type.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 51.88 Million |
| Market Size by 2031 | US$ 102.06 Million |
| Global CAGR (2023 - 2031) | 8.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | India
|
| Market leaders and key company profiles |
The India silicone sealants for facades market is evaluated by gathering qualitative and quantitative data from post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the India silicone sealants for facades market are listed below:
The “India Silicone Sealants for Facades Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - India Silicone Sealants for Facades Market
The strategic initiatives by key market players are expected to create lucrative opportunities in the India silicone sealants for facades market.
The 1 component weather silicone segment held the largest share of the market in 2023. 1 component weather silicone sealants are widely preferred in various construction applications. These sealants cure upon exposure to moisture and air.
The market is expected to register a CAGR of 8.8% during 2023–2031.
A few of the key players in the India silicone sealants for facades market include Shin-Etsu Chemical Co Ltd, Dow Inc, Momentive Performance Materials Inc, Tremco CPG Inc, Sika AG, HB Fuller Co, Arkema SA, Elkem ASA, Mapei SpA, and Alstone Industries Pvt Ltd.
The development of renewable silicone sealants is emerging as a significant future trend in the India silicone sealants for facades market.
The growing residential and commercial construction and the government schemes to foster the construction industry in India are the key factors driving the India silicone sealants for facades market.