New York, United States , April 17, 2024 (GLOBE NEWSWIRE) -- The Global Silicone Coatings Market Size is to Grow from USD 5.64 Billion in 2023 to USD 10.29 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.20% during the projected period.
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Silicone coatings are preservative and protective coatings manufactured from synthetic polymeric materials. Silicone coatings are made from silicones, a synthetic polymer family that contains silicon, oxygen, carbon, and hydrogen atoms. They are created by mixing many polymers and resins as additives and binders. There are solventless and solvent-based silicone coatings, as well as water-based and powder-based coatings, all of which are widely available. These coatings have several advantages, including weathering, high structural strength, and resistance to water, corrosion, and scratches. They are widely used in several industries, including construction, electronics, automotive, chemical, maritime, and paper and pulp. Silicone coatings are crucial in building structures, automotive, electronics, and electronics due to their UV resistance, heat resistance, moisture resistance, and flexibility. The global silicone coating market is expanding due to construction activity, environmental regulations, and stringent VOC regulations. Modern technologies like water-based, solvent-less, solvent-based, and powder-based coatings are being used, with solvent-less technology being popular due to environmental concerns to propel the global silicon coating market during the forecast period. However, high initial investment in silicone coating development and installation, particularly in roof coatings, may limit market penetration and impact pricing, potentially affecting market competitiveness and adoption rates. Hence, these factors may impede the market growth of the global silicone coatings market during the forecast period.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Silicone Coatings Market Size, Share, and COVID-19 Impact Analysis, By Type (Silicone Additives, Silicone Polymers, 100% Silicone, Silicone Water Repellents), By Technology (Solvent-Based, Solvent-Less, Water-Based, Powder-Based), By End-Use (Construction, Electronics, Automotive, Consumer Goods, Textile, Marine), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 100% silicone segment is anticipated to hold the greatest share of the global silicone coatings market during the projected timeframe.
On the basis of type, the global silicone coatings market is divided into silicone additives, silicone polymers, 100% silicone, and silicone water repellents. Among these, the 100% silicone segment is anticipated to hold the greatest share of the global silicone coatings market during the projected timeframe. The growth can be attributed to the Silicone coatings being simply attached and providing a homogeneous and effective protective layer whether applied to roofs, walls, industrial equipment, or even electronic components.
The solvent-based segment is predicted to grow at the fastest pace in the global silicone coatings market during the estimated period.
On the basis of technology, the global silicone coatings market is divided into solvent-based, solvent-less, water-based, and powder-based. Among these, the solvent-based segment is predicted to grow at the fastest pace in the global silicone coatings market during the estimated period. The segmental growth can be attributed to solvent-based silicone coatings have excellent thermal stability, making them suitable for applications requiring temperature fluctuations.
The consumer goods segment is predicted to hold the greatest share of the global silicone coatings market during the estimated period.
On the basis of end-use, the global silicone coatings market is divided into construction, electronics, automotive, consumer goods, textile, and marine. Among these, the consumer goods segment is predicted to hold the greatest share of the Global Silicone Coatings Market during the estimated period. The segmental growth can be attributed to the silicone coatings are used in a variety of consumer goods products and applications, including airbags, technical fabrics, and leather goods.
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North America is expected to hold the largest share of the global silicone coatings market over the forecast period.
North America is expected to hold the largest share of the global silicone coatings market over the forecast period. The growth can be attributed to the due to stringent regulations, there is an increasing demand for eco-friendly and energy-efficient materials with low VOC content across a variety of end-use sectors, driving up demand for silicone coating. Silicone-based coatings are appropriate for outdoor applications because they can withstand extreme weather conditions such as UV radiation, high temperatures, and moisture. They are becoming more popular in North America's different climates and in the automobile industry due to their superior adhesion, flexibility, and corrosion resistance. These coatings are especially popular in North America, where they protect against daily wear and tear and exposure to the elements.
Asia-Pacific is predicted to grow at the fastest pace in the global silicone coatings market during the projected timeframe. The regional growth can be attributed to the Asia Pacific region's large population, rising disposable income, and government regulations attracting global formulators and distributors, with silicon makers giving an advantage in the marketplace.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global silicone coatings market include Carboline Company, Sika AG., Momentive Performance Materials Inc., BASF SE, Shin-Etsu Chemical Co., Ltd., Chase Corp, Evonik Industries AG., KCC Silicone, Dow Corning Corporation, OMG Borchers GmbH, Siltech Corporation, ACC Silicones Ltd., Brochers Inc., Wacker Chemie AG., Humiseal, Mapei Spain, Others.
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Recent Developments
- In March 2023, WACKER presented four new silicone products for the cosmetics and hair-care industries: the silicone elastomer gels BELSIL® EG 3000 and BELSIL® eco EG 3001 and the gum blends BELSIL® eco DM 3096 and BELSIL® GB 3010. Three of the four products include a new formulation concept. Their production uses organic solvents rather than silicone-based solvents.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global silicone coatings market based on the below-mentioned segments:
Global Silicone Coatings Market, By Type
- Silicone Additives
- Silicone Polymers
- 100% Silicone
- Silicone Water Repellents
Global Silicone Coatings Market, By Technology
- Solvent-Based
- Solvent-Less
- Water-Based
- Powder-Based
Global Silicone Coatings Market, By End-Use
- Construction
- Electronics
- Automotive
- Consumer Goods
- Textile
- Marine
Global Silicone Coatings Market, Regional Analysis
- North America
- US
- Canadas
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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