The Silicone Additives Market Will Experience A CAGR Of 7.34% And A Value Of USD 2.5 Billion By 2021-2030.
Based on the Silicone Additives Market Forecast, It is expected that the Silicone Additives Market will experience a CAGR of 7.34% and a value of USD 2.5 billion by 2021-2030.The Silicone Additives are used to minimize the surface tension of the liquid coating. It is mostly used in the products of paintings and coatings. It manages the surface defects like poor wetting and cratering and improves the scratches on the surface. Hence, increasing the life span of the surface. They have superior properties such as flame retardancy, water inhibition, and many more to the products they are added to. Silicone additives are synthetic substances formed by the amalgamation of silicon and oxygen atoms. These are also applied in food and beverages, personal care and cosmetics, petroleum and chemical industries also use this to manufacture the products.
The covid 19 outbreak has brough the world into a terrible condition and has affected important operations in several industries. Many industries are trying to overcome the affected areas to get into the perfect market value. The pandemic has severely affected the Silicone Additives Market as many industries are going through a lot. Silicone additives are used in paints and coatings for automobiles, but due to the halt to limit the spread of the virus, the automobile demand dropped drastically; as a result, the automobile manufacturers had to lessen their production, which led to a decrease in demands for paints and coatings in the automobile industry and the need for the silicon additive got affected as there was a downfall in the economy during the pandemic period the usage and need for personal care and cosmetic declined to result in the decrease of the silicon additive. However, the global situation is getting better, and industries have started operating like before, which can positively impact the market.
Cumulative Evaluation Of The Market
The cumulative evaluation of the Silicone Additives Market shows the factors impacting the market. The market is gaining growth based on many driving factors. Several opportunities are also forming in the market segment, pushing the market to reach magnificent heights. The restrains of the market are impacting the market and due to which the market will face declination. Challenges of the markets must be reduced within time to regain the growth which decreased due to the pandemic challenges. Covid impacted many industries, including the Silicone Additives Market, the operation of the industries is improving again.
Global Silicone Additives Market Share, by End Use Industry, 2018 (%)
Source: MRFR analysis
The Market is studied in some major regions such as North America, Asia Pacific, Latin America, the Middle East, Africa, and Europe. North America dominates the Silicone Additives Market as the US is a growing use of additive manufacturing technology and a primary producer of the additive manufacturing system. In 2014, the US held 36.29% of production. The high use of silicon additives in plastics, oil and gas and personal care products boosts the market growth. Europe is in the second position in the Silicone Additives Market due to increasing demand in the electronic, aerospace, and automotive industries. The end-user industries are growing in countries like the UK, Germany, Spain, etc. Asia pacific also showcases a significant growth rate as the other regions like China and India are the prominent producers of the silicone additive. The region is showing growth due to other factors as well. Rising demand for the paints and coatings, construction requirements, automotive industries in the region increase the market Silicone Additives Market Size. Growing urbanization, industrialization are major factors of the market growth. The region's government is increasing the spending on economic development is a driving factor for the market.
The Silicone Additives Market analysis report provides valuable in-depth information, including the major market vendors. The competitive landscape shows the competitors of the industry who are improving the market condition. New strategies and ideas are used in the market for the market's growth. Present and future market investors compete in the market segments by forming a new growth plan of action. the major market players who are constantly improving the market value are
The Silicone Additives Market Analysis report presents information about the market situation. It depicts the current trends and future predictions to determine the investment in the market. The report provides drivers, restraints, opportunities and a detailed study of the Silicone Additives Market Share. The current Silicone Additives Market Trends are also mentioned in the report. The report's quantitative and qualitative information is based on in-depth research and analysis. In addition to it, it also highlights the growth scenario of the Market. It provides thorough information based on the competitive landscape and how the competitors will form new strategies in the coming years for market growth. Recent developments in the market are also mentioned in the report to provide current information regarding the development to the investors interested in investing in the market.
By End-Use Industry
|Market Size||USD 2.5 billion 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Function, end-use industry, and region|
|Geographies Covered||Asia-Pacific, North America, Middle East & Africa, Europe, and Latin America.|
|Key Vendors||Evonik Industries AG (Germany), KCC Corporation (South Korea), Wacker Chemie AG (Germany), Siltech (Canada), Dow (US), Akrochem Corporation (US), Shin-Etsu (Japan), BRB International (Netherlands), Momentive Performance Materials Inc. (US), Supreme Silicones (India), and BYK Additives (US).|
|Key Market Opportunities||Rising sales of smart and safe vehicles coupled with the shift towards electric vehicles owing to stringent environmental regulations|
|Key Market Drivers||Rising demand for paints and coatings in the automotive industry|
The global silicone additives market is expected to be valued at USD 2.5 billion by 2030.
The global silicone additives market is expected to exhibit a solid 7.34% CAGR over the forecast period from 2021-2030.
Paints and coatings, plastics, and construction are the leading end uses of silicone additives.
The major driver for the global silicone additives market is the growing demand for paints and coatings in the automotive industry.
Leading players in the silicone additives market include Evonik, KCC Corporation, Wacker Chemie AG, Siltech, Dow, Akrochem Corporation, Shin-Etsu, BRB International, and Supreme Silicones.