Exterior Silicone Caulk Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, India, Germany, UK - Size and Forecast 2024-2028

Exterior Silicone Caulk Market 2024-2028

 The exterior silicone caulk market size is forecast to increase by USD 399.66 million, at a CAGR of 4.91% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing residential and commercial construction activities, the rise in the number of smart cities, and the growing demand from developing economies. It also includes an in-depth analysis of drivers, trends, and challenges. 

The report offers extensive research analysis on the Exterior Silicone Caulk Market, with a categorization based on Type, including neutral cure silicone caulk and acid cure silicone caulk. It further segments the market by Application, encompassing commercial, residential, and industrial. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.

What will be the  Exterior Silicone Caulk Market Size During the Forecast Period?

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Exterior Silicone Caulk Market Definition 

Silicone caulk is a type of adhesive sealant that is used for construction and household applications. Most exterior silicone caulks are highly resistant to extreme weather, temperature, water, and chemicals, thus making them versatile for outdoor use. Given that silicone caulk is resistant to moisture or extreme temperatures, it is used around windows, doors, and gutters, along with filling gaps around pipes and other objects that penetrate through the exterior walls.

Exterior Silicone Caulk Market: Key Drivers, Trends, Challenges

Key Exterior Silicone Caulk Market Driver

One of the key factors driving the exterior silicone caulk market growth is the increasing residential and commercial construction activities. In developing economies, including India, the 100% foreign direct investment (FDI) for construction projects is likely to fuel the demand for construction solvents like exterior silicone caulk during the forecast period. In addition, in India, government initiatives such as the Smart Cities Mission, the Pradhan Mantri Awas Yojana (PMAY), and the Sardar Patel National Urban Housing Mission are estimated to increase the number of people living in urban areas, which will fuel the growth of the global exterior silicone caulk market.

Moreover, the rising demand for construction equipment is complemented by the increase in the number of renovation and modification projects across key countries such as China and India. In addition, the rise in the number of multinational companies, as well as technology and business parks due to favorable trade relations between countries and government policies, such as FDI relaxation is positively impacting the market. Hence, such factors are driving the market growth during the forecast period.

Significant Exterior Silicone Caulk Market Trends

A key factor shaping the exterior silicone caulk market growth is the expansion of manufacturing facilities by market players. Expansion of production and storage facilities is one of the positive trends in the global exterior silicone caulk market, which helps companies increase their market share. In addition, the growing industry has encouraged major vendors to opt for expansion of their manufacturing and storage facilities globally. For example, in February 2020, Henkel AG and Co. KGaA (Henkel) announced the expansion of a manufacturing facility in Pune, India.

Moreover, the expansion of the manufacturing facility aims to serve the growing demand of Indian industries for high-performance solutions in adhesives, sealants, and surface treatment products. Therefore, such developments are expected to strengthen the market presence of vendors by enabling them to offer a diverse portfolio of products in the global exterior silicone caulk market. Hence, such factors are driving the market growth during the forecast period.

Major Exterior Silicone Caulk Market Challenge

The availability of substitutes for exterior silicone caulk is one of the key challenges hindering the exterior silicone caulk market growth. The increasing demand for other types of sealants, including polyurethane, plastisol, butyl, polysulfide, emulsion, and others, is expected to hamper exterior silicone caulk market growth. In addition, the high cost of exterior silicone caulk, as compared to other sealants, is negatively impacting the market.

Moreover, the growing innovation and product development in other types of sealants are expected to impede market growth. For example, the ongoing research to develop soy-based polyurethane (PU) foam products augmented with carbon nanotubes is expected to drive the demand for polyurethane bio-based sealants. Furthermore, Bio-based polyols made with RENUVA Renewable Resource Technology built by Dow Polyurethanes can be used in lots of sealant applications. Hence, such factors are hindering the market growth during the forecast period.

Exterior Silicone Caulk Market Segmentation by Type, Application, and Geography

Exterior Silicone Caulk Market Type Analysis

The neutral cure silicone caulk segment is estimated to witness significant growth during the forecast period. The neutral cure silicone caulk segment of the global exterior silicone caulk market is expected to grow due to factors such as the growing adoption of sealants in the construction industry due to its various features, including non-corrosivity and subtler odor. In addition, such features ensure that natural cure silicone caulk does not damage metals or other materials over time, and it is more weather-resistant, thus making it an ideal choice for exterior areas where metal surfaces are present, such as around doors and windows.

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The neutral cure silicone caulk segment was the largest segment and was valued at USD 936.20 million in 2017Moreover, another advantage of neutral cure silicone caulk is that it has a longer shelf life. In addition, this type of caulk is made from a combination of latex and silicone and is a good choice for occasionally wet areas such as windows, doors, and trim. Furthermore, it is also suitable for applications where concrete, brick, and bare metals are used. Therefore, the growing construction sector, especially industrial and commercial, is expected to drive the adoption of neutral cure silicone caulk for sealant purposes. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Exterior Silicone Caulk Market Application Analysis 

Based on the application, the segment is classified into commercial, residential, and industrial. The commercial segment will account for the largest share of this segment. The commercial segment comprises commercial buildings, including shops, hotels, restaurants, office spaces, industrial buildings, schools, and hospitals. In addition, the commercial construction industry is expected to show robust growth fuelled by rapid industrialization and urbanization in emerging economies such as China, Thailand, Malaysia, and Indonesia. Furthermore, foreign investment in the commercial construction sector has significantly increased in India as major US, European, and Japanese companies see the country as a potential market. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Exterior Silicone Caulk Market Region Analysis

APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The tremendous growth of the exterior silicone caulk market in the region is fuelled by the growth of the construction industry. In addition, exterior silicone caulk manufacturers are targeting this region, as it continues to be the fastest-growing region. Moreover, China, India, Vietnam, South Korea, Indonesia, and Thailand are investing significantly in various construction projects, which is likely to influence the growth of the exterior silicone caulk market in the region. Furthermore, the construction investment share among residential, industrial, and infrastructural projects is almost evenly distributed, and all APAC countries are expected to increase their budgets for infrastructure. Hence, such factors are driving the market growth in APAC during the forecast period.

Key Exterior Silicone Caulk Market Companies

Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

3M Co: The company offers exterior silicone caulk namely 3M Marine Grade Silicone sealant.

The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including: 

ARDEX GmbH, Bostik Ltd., Dow Chemical Co., Franklin International, General Electric Co., Henkel AG and Co. KGaA, Illinois Tool Works Inc., Innovative Chemical Products, LATICRETE International Inc., McCormick Paints, Oatey Co., Oldcastle BuildingEnvelope, Red Devil Inc., RPM International Inc., Sashco Inc., Sika AG, Sumitomo Rubber Industries Ltd., The Sherwin Williams Co., and Wacker Chemie AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

•  Type Outlook 
  • Neutral cure silicone caulk
  • Acid cure silicone caulk
• Application Outlook
  • Commercial
  • Residential
  • Industrial
• Geography Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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What are the Key Data Covered in this Exterior Silicone Caulk Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of exterior silicone caulk market companies

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