Dow Corning Corporation (US), Henkel AG & Co. Kgaa (Germany), and Sika AG (Switzerland) are the Major Players in the High Temperature Sealants Market.
The high temperature sealants market is expected to reach 357.84 KT by 2022 at a CAGR of 4.2% from 2017 to 2022, in terms volume. The global high temperature sealants market is growing at a moderate rate, with the key market players playing a vital role in its development. Players such as Dow Corning Corporation (US), Henkel AG & Co. KGaA (Germany), Wacker Chemie AG (Germany), Sika AG (Switzerland), and H.B. Fuller (US) led the market in 2016.
The growth of the high temperature sealants market was largely influenced by expansions, mergers & acquisitions, and new product launches during the period, 2015-2017. Some of the companies who adopted these strategies are Dow Corning Corporation (US), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), H.B. Fuller (US), CSW Industrials Inc. (US), and PPG Industries Inc. (US). The years 2016 and 2017 have experienced a large number of expansions and mergers & acquisitions by top players in the market. Expansions also formed a vital part of their strategies, which has led to strengthening their shares in the emerging markets.
Dow Corning Corporation (US), Henkel AG & Co. KGaA (Germany), and Sika AG (Switzerland) are the major players in the high temperature sealants market. Dow Corning leads the global high temperature sealants market with a strong and broad product portfolio. Henkel and Sika mainly focus on both, organic and inorganic strategies to strengthen their market positions, meet customer requirements, and stay competitive in the market.
Henkel AG & Co. KGaA (Germany) is focusing on expanding its presence through expansions, mergers & acquisitions, and new product developments. In May 2017, the company entered into an agreement to acquire Germany based Sonderhoff Holding GmbH to strengthen its sealants competence. In 2016, the company launched an adhesive sealant, BERGQUIST TLB 400 SLT for automotive module applications. During the same period, Henkel Anand established a new production plant in Pune, India in order to increase its sealants and adhesives production capacity.
Sika AG (Switzerland) is a leading specialty chemicals company and has a broad high temperature sealants product portfolio which serves various applications such as automobile, industrial, construction, and marine. The company adopted strategies such as mergers & acquisitions and expansions to gain competitive advantage in the market. In 2017, the company acquired Texas based Rmax Operating, LLC for building envelope solutions. This strategic initiative works in tandem with the company’s growth strategy in North America. In 2016, the company expanded its presence in Africa and Asia by establishing subsidiaries in Cameroon, Djibouti, and Myanmar.
The major market players have adopted diversified strategies for the developed and emerging countries. The market in the Asia Pacific region is leading in terms of the demand for high temperature sealants. This is mainly due to the growing electrical & electronics industry, investments in construction activities, favorable government policies & initiatives, and increasing production of automobiles within the regional countries.
Related Reports:
High Temperature Sealants Market by Chemistry (Silicone, Epoxy), Application (Electrical & Electronics, Transportation, Industrial, Construction), and Region (Asia Pacific, Europe, North America, Middle East & Africa) - Global Forecast to 2022
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