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Silicone Coatings Market Outlook, Growth Potential, Industry Report 2024

Silicone Coatings Market

U.S. silicone coatings market size should witness steady gains owing to the rise in construction spending.

“Europe silicone coatings market size with growth in the automotive manufacturing industry should witness an increase in demand.”

Silicone Coatings Market Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE), Forecast, 2016 – 2024”
— Global Market Insights Inc.
OCEAN VIEW, DELAWARE, UNITED STATES, March 19, 2017 /EINPresswire.com/ -- Global Silicone Coatings Market size may grow significantly over the projected period owing to strong application scope in automotive and construction industries. It is widely used as primers, marine, industrial maintenance, hygienic architectural, anti-fouling, biocidal abrasion-resistant, and automotive clear coatings.

Asia Pacific, led by Japan, South Korea, India, and China silicone coatings market size should grow significantly over the foreseeable timeframe. Increasing application outlook in construction and automotive industries, mainly in China, India, Japan, and Malaysia, should drive the regional growth. Strong R&D spending in personal care products and healthcare sector, mainly in China, will influence industry growth.

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U.S. silicone coatings market size should witness steady gains owing to the rise in construction spending. Favorable government initiatives to increase infrastructural spending along with growth in automotive sales should drive regional product demand.

Global paint & coatings market was valued at USD 125 billion in 2015 and may surpass USD 180 billion by 2024 with gains at over 5.5%. Growing automobile and consumer goods industry may stimulate industry growth demand. They are usually applied on exterior and interior of house walls, vehicles body, and corporate buildings. They are formulated with silicones that improve product durability, resistant to corrosion, moisture, weathering, climatic dynamics, enhance gloss, and color retention.

In industrial processing, tire manufacturers use silicone coatings through the molding process, which ensures product quality. In the shipping industry, it increases vessel efficiency and avoid using antifouling paints, which are toxic in nature. Silicone coatings market size from consumer goods should witness significant gains as they are used in airbags, leather goods & textiles, and this coating provides aesthetic quality to products.

Global vehicle production exceeded 90 million units in 2015 and the statistics may surpass 130 million units by 2024 with gains at over 4%. Strong application scope in the automotive industry will drive silicone coatings market size and may grow significantly over the forecast timeframe. They are used on the interior upholstery of cars including door fabrics and seat. Silicone grease is insoluble in water and is stable at high temperatures, which make it a good lubricant for brake components, bicycle chains, and airsoft gun parts.

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Global construction spending was over USD 8 trillion in 2015 and may exceed USD 15 trillion by 2024. Strong government spending for infrastructure projects, mainly in India, China, and Brazil, should drive the industry growth. Silicone coatings are used in the construction industry due to their durability and reduce damages caused by external climatic conditions. They prevent cold or hot air and humidity passing through cracks and joints, thereby protecting and providing aesthetic features to architectural monuments and buildings.

Global silicone coatings market share is consolidated with key manufacturers including Momentive Performance Materials, BASF, Dow Corning, and Wacker Chemie AG. Other prominent companies include Shin-Etsu Chemical, China National Bluestar, Milliken, and Evonik Industries. Most of the manufacturing companies are focusing on enhancing the product portfolio and strengthening the regional presence.

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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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