Silicone Coating Market Research Report - Global Forecast till 2030

Silicone Coating Market: Information by Type (Silicone Additives, Silicone Polymers, 100% Silicone, and Silicone Water Repellents), by Technology (Solvent-Based, Solvent-Less, Water-Based, and Powder-Based), End-Use Industry (Construction, Electronics, Automotive, Consumer Goods, Textile, Marine, and Others) and Region (Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa)—Forecast till 2030

ID: MRFR/CnM/0609-HCR | December 2022 | Region: Global | 108 Pages         

Silicone Coating Market

Silicone Coating Market is projected to be worth USD 8.6 billion by 2030, registering a CAGR of 6.6% during the forecast period (2021 - 2030).

Segmentation

By Type Silicone Additives Silicone Polymers 100% Silicone Silicone Water Repellents
By Technology Solvent-Based Solvent-Less Water-Based Powder-Based
By End-Use Industry Construction Electronics Automotive Consumer Goods Textile Marine

Key Players

  • Wacker Chemie AG
  • Shin-Etsu Chemical Co. Ltd
  • Momentive
  • Milliken & Company
  • HumiSeal
  • CHT UK Bridgwater Ltd
  • Dow Elkem Silicones
  • Evonik Industries AG
  • KCC Silicone

Drivers

  • Increasing demand for silicone coatings
  • Reliability and High performance
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Silicone Coating Market overview 


The silicone Coating Market size is expected to grow by 6.6%. Silicone is used as a protective and preservative in the coating industry. Resins and polymers are two types of silicone products that are used in the creation of silicone coatings. The silicone coating is used in paints and to manage ageing in paints. The construction and automotive companies have higher use of silicone coating.


There are many things that the coating can conceal. Chemical resistance and scratch resistance are some of the features of silicone coating. There are plenty of segments in the silicone market that is witnessing high growth. Also, a wide range of end-users continues to boost the expansion rate. Using the coating in exterior walls and roofs has visible benefits. Today, many homes find painting expensive. However, due to dust and pollution dirt on the building is higher.


To avoid frequent painting cost the silicone coating is used. These coatings can sustain the colour and prevent dust formation. With regular painting, the silicone coating is applied in many buildings. The construction and automotive sectors are booming this affects positively affects the silicone coating market. Regulating temperature, corrosion resistance, are some of the high-end features of these coatings. All these factors increase the overall silicone coating market value by 9.93 billion. 


Covid analysis 


The outbreak of covid 19 has had a dangerous impact on the global industries. The operations of many industries have come to a halt during this period. There are factors such as supply chain disruptions and low production affecting demand. There is declining demand from the user end that leads to revenue losses. The silicone coating market is facing a challenge in this period. There is low production of this coating in recent years. The construction industry and automotive sectors are facing losses.


Due to lockdowns and restrictions these industries are facing a downfall. Since 2020, there are shipment issues and low demand from the user end. Also, investments in the market are declining due to the economic crisis. By 2021, the market operations are regaining. The demand from the user end is gradually rising for the market. In upcoming years, constructions all over the regions are raising demand. Also, a new range of automotive will release in upcoming years. All these factors will contribute to the high demand of the market. 


Market dynamics 



  • Crucial market drivers 


Growing demand in the consumer electronics market is a crucial market driver. The silicone is a perfect coating for any consumer electronics product. Exceptional finish, good appearance and enhanced quality are some of the benefits of coating on electronics products. The demand for these products is massive. It is a booming industry in the Asia Pacific region. The high need for consumer goods is raising the demand for silicone coatings. The demand from this user end will lead to exceptional developments in the market.


 Further, demand from the construction industry is another driver of the silicone coating market. In merging economies need for effective coating is high. Due to this, silicone coating with water resistance has exceptional demand. The adoption rate of this coating is growing rapidly. The rising requirement for waterproofing in the construction industry will lead to high demand.


All these factors will contribute to the high profitability of the market. The automotive and transportations sectors are other key end-users of the market. The rising demand from these key players will play a crucial role in high demand. The automotive sector has a high investment in silicone coatings. This will lead to a high expansion of the market in the forecast period. 



  • The market growth opportunities 


Enhancements in silicone coating products will lead to exceptional market growth opportunities. The silicone coating products are facing new developments. Innovations in these products are constantly rising. Quality products have high demand. Most of the end-users of the market pay more attention to quality than the price. Due to this, the key players are raising the quality and features of silicone coating. In upcoming years, key players will launch many features of this product. Better appearance, quality, thermal stability, low reactivity and toxicity are advancements in the product. All these opportunities will expand silicone coating market size. 


 Further, rapid urbanisation is another factor that will contribute to market growth. In upcoming years, urbanization in many regions will be high. It will lead to construction and automotive purchases. All these factors are advantageous for the market. These factors will create a favourable impact.


Also, the disposable income of individuals is rising. Due to this, the rise in disposable income spending of customers is growing. Next few years, the adoption of silicone costing will be high due to these actors. These growth opportunities will make the demand vast. Also, supply rates will reach the highest for the market. 



  • The market restraints 


The high cost of silicone coating is a restraining factor of this market. Silicone materials are expansive. Due to this, the market is witnessing high manufacturing cost. This reflects on the overall cost of the market. Silicone coating is higher in price than its substitutes. Most of the end-users expect cost efficiency in the coatings.


However, high cost is a problem for emerging nations. The decline in demand is expected in upcoming years, especially, developing nations will have lower adoption for silicone coatings. These factors can affect the overall growth rate of the market in the forecast period. 



  • The market challenges 


The regulatory standards for producing these coatings are stringent. Materials like silicone and coatings have toxic. However, silicone costing is less harmful than its substitutes. Still, there are strict rules imposed on manufacturing units. The companies need to abide by environmental rules and governmental policies during production.


Also, these rules are stringent that it affects the production rate. The outbreak of pandemics is raising the intensity of these rules. The market witnessed very low production. All these factors can delay meeting consumer requirements. Also, low production may cause a low sales rate for the market. 



  • Cumulative growth analysis 


The silicone coating market trends are positive for the forecast period. The demand for the market is constantly surging due to many reasons. The construction segment of the market will witness high demand. The silicone polymers product type has more requirements among the end-users.


 Further, crucial drivers such as high demand from the consumer electronics market are raising demand. Also, the surging need for waterproofing in the construction industry sparks growth for the market. However, high costs and stringent rules on production are challenges in the market. These limitations can affect the demand. Still, overall growth is steady with future growth opportunities. 



  • Value chain analysis 


North America is a leading regional player in the silicone coating market. It is a region with lucrative growth opportunities for the product. Also, it is a region accountable for higher silicone coating market share. The early adopter of the product has high investments.


Also, US and Canada are key contributors to the market. The presence of market players leads to new developments. In upcoming years, newly enhanced silicone coating products will be available in this market. Further, fewer cost barriers create a free flow of demand. All these factors will contribute to exceptional silicone coating market growth in North America. 


Segment overview 


By type 



  • Additives 

  • Polymers 

  • Water repellants 

  • 100% silicone 


By end-user 



  • Automotive and transportation 

  • Building and construction 

  • Electronics 


By geography 



  • Asia pacific 

  • Europe 

  • North America 

  • South America 

  • Middle East Africa 


Competitive landscape 


Competition in the silicone coating market is severe. Price competitiveness among key players is high. Also, the new entrance will lead to new developments and launches in the market. The market has key strategies such as market expansions, mergers, collaborations, acquisitions and partnerships. The penetration of silicone coating products will be higher in emerging nations. 


Regional analysis 


The regional silicone coating market is fragmented into Asia Pacific, Europe and North America. North America is a surging region with high demand. It is an early adopter of the product due to high investments. The presence of top leaders leads to more launches and innovations in the market. Also, it is a region that will witness the highest growth rate.


The Asia Pacific is another key regional player with the highest silicone coating market shares. The demand from the construction industry is massive. In recent years, urbanisation has led to high constructions. All these factors create a positive impact on the silicone coating market. Europe is another key regional player with a high growth rate. 


The key players in Silicone Coating market are 



  1. Wacker Chemie AG

  2. Shin-Etsu Chemical Co. Ltd

  3. Momentive

  4. Milliken & Company

  5. HumiSeal

  6. CHT UK Bridgwater Ltd

  7. Dow

  8. Elkem Silicones

  9. Evonik Industries AG

  10. KCC Silicone


Recent developments 



  1. The key players of the market are launching industry-specific silicone coating products. This makes the product more suitable for every application. 

  2. The key players are widening the market in emerging nations. The Middle East and South America are prime targets for new developments. 

  3. The key players are increasing features of the product. The enhanced features will bring new end users to the market. 


Report overview 



  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   6.94% (2021-2030)
  Base Year   2021
  Forecast Period   2021 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Technology, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Evonik Industries AG (Germany), Momentive (US), Dampney Company (USA), Dow (US), Wacker Chemie AG, (US), THE GRIFF NETWORK, CHT UK Bridgwater Ltd (UK), KM COATINGS (US), Henry Company (US), American WeatherStar TRUE WATERPROOFING POWER (US), Shin-Etsu Chemical Co., Ltd (Japan), and Karnak (US).
  Key Market Opportunities   The demand for high-performance coatings
  Key Market Drivers

  • Increasing demand for silicone coatings
  • Reliability and High performance


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    Frequently Asked Questions (FAQ) :

    The silicone coatings market would have a CAGR of 6.94% during the forecast 2030.

    The Asia Pacific region has the maximum growth rate.

    The market segments are electronics, marine, automotive & transportation, construction, paper & film, consumer goods, and others.

    The silicone coatings market has types like 100% silicone, silicone polymers, silicone additives, and silicone water repellents.

    The technologies are water-based, solvent-less, solvent-based, and powder-based.