Silicone Coating Market Size to Boom USD 8.44 Bn in 2028 | Evonik Industries AG, Wacker Chemie AG, Carboline Company
Reports And Data
Silicone Coating Market Size-USD 5.43 Bn in 2020, Growth-at a CAGR of 5.7%. Launch of high-performance silicone water repellents and other advanced product
NEW YORK CITY, NEW YORK, UNITED STATES, April 20, 2022 /EINPresswire.com/ -- The global silicone coating market size is expected to reach USD 8.44 Billion in 2028 and register a revenue CAGR of 5.7% over the forecast period, according to a latest report by Reports and Data. Expansion of the manufacturing and end-use industries and increasing construction activities in developing countries are expected to drive market revenue growth during the forecast period.
Water soaked minerals reduces insulating action of masonry and affect energy-efficiency by reducing the positive effects of porosity and cause heat loss due to evaporation, which is further boosting demand for silicone coatings in order to prevent formation of mildew and moss. There is growing demand for silicone coatings in the construction industry as these offer greater water repellency and resistance to chemicals and extreme weather conditions. Silicones reinforce structural performance and can also be formulated to improve soundproofing or insulation. Manufacturers such as Elkem are investing in research & development activities for the manufacturing of high-performance coatings and water repellants. Elkem Silicones developed an extended BLUESIL product range of hydrophobic silicone construction products for all building materials and variable atmospheric conditions. Increasing demand for consumer goods, owing to rising disposable income of consumers is expected to boost revenue growth of the market during the forecast period. In the consumer goods sector, silicone coatings are utilized in a wide range of products and applications, from airbags to technical textiles and leather goods.
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Major companies profiled in the global market report include - Evonik Industries AG, Wacker Chemie AG, OMG Borchers GmbH, Momentive Performance Materials Inc., Carboline Company, Shin-Etsu Chemical Co., Ltd., Dow Silicones Corporation, Mapei S.p.A., Sika AG, and Elkem Silicones.
Further key findings from the report suggest
In February 2020, Elkem ASA entered into an agreement to acquire all of the shares in Polysil, a Chinese silicone elastomer and resins material manufacturer with strong positions in baby care and food grade silicone, as well as silicone products for the electronics and medical markets. Complementary product and market positions of Polysil and Elkem provide a solid platform for further specialization and growth in China and globally. Acquisition of Polysil is expected to strengthen the position of Elkem in selected specialized silicones segments in China. Presence and position of Elkem in other parts of China and internationally, would provide a solid platform for Polysil’s product.
Silicone water repellents segment is expected to account for significant revenue share in the global silicone coating market over the forecast period. Silicone-based water repellent products offer technical solutions for masonry protection of different materials as these create a highly durable and deep-seated water-proof barrier, while maintaining the breathability and porosity of surface materials.
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Consumer goods segment is expected to account for a steady revenue share in the global silicone coating market, owing to higher usage of these coatings in a wide range of products and applications, from airbags to technical textiles and leather goods. Growing purchasing power of consumers is further resulting in high demand for consumer goods and boosting the usage of silicone coatings.
Silicone coating market in Asia Pacific is expected to account for largest revenue share over the forecast period. Growing demand for smart and advanced consumer electronics in developing countries of the region, owing to rising disposable income of consumers is resulting in the increasing usage of silicone coatings.
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Segments covered in the report:
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Silicone Additives
Silicone Water Repellents
Silicone Polymers
100% Silicone
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Building & Construction
Consumer Goods
Automotive & Transportation
Industrial Application
Others
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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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