Global Silicone Coating Market to Grow at a CAGR of 6.1% in the Forecast Period of 2024-2032, Aided by the Increasing Application in the Construction Industry

The global silicone coating market is dominated by the Asia Pacific region, especially by emerging economies like China and India. Silicone coating protects the top layer of any surface, forming an impermeable membrane that can withstand wind-driven sand, oxidation, and extreme temperatures, amongst others. It is considered environmentally friendly as the coating is solvent-free and contains an extremely low volatile organic compound (VOC). Building and construction industry accounts for the largest share in the silicone coating market. A layer of protection offers lots of benefits to the user. It makes the surface water-resistant, which is one of the best benefits. Water does not affect the surface as silicone coating does not allow the surface to absorb water once cured. A silicone roof coating can reflect 80-90% of the sun's harmful UV rays. It does not degrade or crack when exposed to direct sunlight and decreases the room temperature, giving relief in the scorching heat. It makes the surface flexible, monolithic, and long-lasting, making it cost-effective in the long run. With technological advancements, less material is required to cover the area or achieve the desired thickness. Silicone is widely used in the electronic Industry to seal, link, coat, and abridge components, making them reliable in challenging situations. Silicone coating has wide application in the automotive industry. It offers a variety of benefits such as impact and shock absorption, the thermal resistance of more than 200 degrees Celsius, moisture resistance, corrosion, and ultraviolet (UV) light resistance quick curing time, among others.

The rising competition among the key players also provides an impetus to market growth. Evonik Industries AG (ETR: EVK), in August 2021, has developed three siloxane-based defoamer concentrates in its portfolio. It best suits their waterborne paint or overprint varnish. It has defoaming power and compatibility at a high level. This makes the new defoamer suitable for a wide range of applications in the printing inks industry. It can be used for food contact packaging as it contains no solvents, biocides, or mineral oils and meets the requirements of the many regulations. Food contact and non-food contact packaging, inkjet inks, tissue and décor, and wallpaper inks are the main applications of these defoamers.

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Market Analysis by Product, Application, and Regions:

• Based on product, the industry can be divided into silicone additives, silicone water repellents, silicone polymers, and 100% silicon.

• It finds wide applications in building and construction, consumer goods, automotive and transportation, and industrial application.

• The regional markets for silicone coating include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Wide application in critical industries is driving the growth of the silicone coating market.

• Factors like flexibility, monolithic, water-resistant, and long-lasting, boost the demand for silicone coating.

• Properties such as seal, link, coat, and abridge components, especially in the electronics industry, are fuelling the demand for silicone coating.

• Technological advancement leading to better and wide use is also propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global silicone coating industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the product, application, and regions of silicone coating.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global silicone coating industry are Evonik Industries AG, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd., Carboline Company, and The Dow Chemical Company, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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