Market Size of singapore sealants Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 30.92 Million |
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Market Size (2028) | USD 36.29 Million |
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Largest Share by End User Industry | Healthcare |
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CAGR (2024 - 2028) | 4.09 % |
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Fastest Growing by End User Industry | Aerospace |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Singapore Sealants Market Analysis
The Singapore Sealants Market size is estimated at 30.92 million USD in 2024, and is expected to reach 36.29 million USD by 2028, growing at a CAGR of 4.09% during the forecast period (2024-2028).
30.92 Million
Market Size in 2024 (USD)
36.29 Million
Market Size in 2028 (USD)
3.28 %
CAGR (2017-2023)
4.09 %
CAGR (2024-2028)
Largest Market by End-user Industry
24.16 %
value share, Healthcare, 2023
In Singapore, healthcare is the dominant end-user industry owing to the wide range of sealant applications for medical device production and assembly.
Fastest Growing Market by End-user Industry
5.99 %
Projected CAGR, Aerospace, 2024-2028
The aerospace industry is likely to witness the fastest growth owing to the increasing demand for civil and general aircraft in the country.
Largest Market by Resin
50.85 %
value share, Silicone, 2023
Silicone sealant accounts for the largest share owing to its wide applications in healthcare, electronics, building and construction, and other end-user industries.
Fastest Growing Market by Resin
4.42 %
Projected CAGR, Polyurethane, 2024-2028
Owing to their wide applications in building construction and automotive industries, specifically for exterior applications, polyurethane resin is expected to witness the fastest growth over the coming years.
Leading Market Player
20.03 %
market share, Shin-Etsu Chemical Co., Ltd., Ltd.
Shin-Etsu Chemical Co. Ltd has witnessed an increase in its sales volume in Singapore due to the popularity of its products, mostly in the building and construction industry.
The forecasted growth in the medical device manufacturing of Singapore to significantly influence the sealants demand in the country
- The Singaporean sealants market is dominated mainly by the other end-user industries segment, followed by the healthcare industry. The other end-user industries segment comprises electronics and electrical components, locomotive, marine, DIY, etc., of which the electronics industry holds the major share due to the diverse applications. They are used for sealing sensors and cables, etc. Moreover, the rapid growth of e-commerce activities and the strong market positioning of the consumer electronics segment are likely to propel the size of the Singaporean sealants market. However, the electronics industry's growth declined in 2020 due to the COVID-19 pandemic and resultant restrictions, which caused a scarcity of raw materials. However, the raw materials supply chain was restored in 2021, which led to a hike in demand for sealants across the country.
- DIY applications, such as waterproofing, weather-sealing, cracks-sealing, and joint-sealing, have also recently gained popularity. Sealants are designed to provide longevity and ease of application on different substrates. The DIY industry in Singapore is expected to grow at a rate of 14.31%, which will create scope for the sealants market over the coming years.
- The healthcare industry primarily uses sealants for assembling and sealing medical device parts. Medical-grade sealants have unique applicability to various substrates such as glass, metal, plastic, painted surfaces, etc., and their features, such as weather-proofing, heat resistance, and anti-aging, are likely to boost the sealants' demand. Singapore is expected to register significant growth in medical device manufacturing due to unprecedented demand from the domestic sector. Such developments are expected to boost sealant demand over the forecast period.
Understand The Key Trends Shaping This Market
