Singapore Sealants Market Size

The Singapore sealants market is projected to experience growth, driven by various end-user industries, with a significant contribution from the electronics sector due to its diverse applications. The market's expansion is further supported by the resurgence of the DIY industry, which has gained traction for applications like waterproofing and weather-sealing. Additionally, the healthcare industry is expected to boost demand for medical-grade sealants, owing to their unique properties and increasing need in medical device manufacturing. Despite previous setbacks due to the COVID-19 pandemic, the restoration of the raw materials supply chain has revitalized the market, positioning it for continued growth.

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Market Size of singapore sealants Industry

Singapore Sealants Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 30.92 Million
svg icon Market Size (2028) USD 36.29 Million
svg icon Largest Share by End User Industry Healthcare
svg icon CAGR (2024 - 2028) 4.09 %
svg icon Fastest Growing by End User Industry Aerospace

Major Players

Singapore Sealants Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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.

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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.
Singapore Sealants Market

Singapore Sealants Industry Segmentation Singapore Sealants Industry Segmentation

Aerospace, Automotive, Building and Construction, Healthcare are covered as segments by End User Industry. Acrylic, Epoxy, Polyurethane, Silicone are covered as segments by Resin.

  • 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.
End User Industry
Aerospace
Automotive
Building and Construction
Healthcare
Other End-user Industries
Resin
Acrylic
Epoxy
Polyurethane
Silicone
Other Resins
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Singapore Sealants Market Size Summary

The Singapore sealants market is experiencing a steady expansion, driven by diverse end-user industries such as electronics, healthcare, and DIY applications. The electronics sector, in particular, holds a significant share due to its extensive use of sealants in sealing sensors and cables, bolstered by the rapid growth of e-commerce and consumer electronics. The DIY segment is also witnessing increased popularity for applications like waterproofing and weather-sealing, contributing to market growth. The healthcare industry further propels demand through the use of medical-grade sealants in device assembly, with Singapore's burgeoning medical device manufacturing sector enhancing this trend. Despite challenges posed by the COVID-19 pandemic, such as raw material shortages and construction project delays, the market is poised for recovery and growth.

The construction industry in Singapore, although impacted by the pandemic, is expected to recover, with public sector projects playing a crucial role in driving demand for sealants. The aerospace sector, a significant economic driver, continues to expand, with infrastructure developments like Changi Airport's Terminal 5 further stimulating the market. The civil aviation segment remains robust, with increasing aircraft deliveries and collaborations aimed at enhancing satellite capacity and space services. The market is moderately consolidated, with major players like 3M, Dow, Henkel AG & Co. KGaA, Shin-Etsu Chemical Co., Ltd., and Sika AG holding substantial market shares. These dynamics, coupled with strategic industry developments, are anticipated to shape the future landscape of the Singapore sealants market.

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Singapore Sealants Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Healthcare

      5. 1.1.5 Other End-user Industries

    2. 1.2 Resin

      1. 1.2.1 Acrylic

      2. 1.2.2 Epoxy

      3. 1.2.3 Polyurethane

      4. 1.2.4 Silicone

      5. 1.2.5 Other Resins

Singapore Sealants Market Size FAQs

The Singapore Sealants Market size is expected to reach USD 30.92 million in 2024 and grow at a CAGR of 4.09% to reach USD 36.29 million by 2028.

In 2024, the Singapore Sealants Market size is expected to reach USD 30.92 million.

Singapore Sealants Market Report Snapshots

Singapore Sealants Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2028