Global Silicone Coatings Market Information by formulation (water based, solvent based, powder and others) & by applications (automobiles, electronic, marine & aerospace, construction, infrastructure (residential & commercial) and others) - Forecast To 2027
Silicone Coatings Global Market - Overview
The Global Silicone Coatings Market is growing with the rapid pace; mainly due to the growing construction and automobile industry. According to a recent study report published by the Market Research Future, The Global Silicone Coatings Market is booming and expected to gain prominence over the forecast period growing rapidly .The global Silicone Coatings market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).
The Global Silicone Coating Market has seen a positive growth in the recent past years and it has been analyzed that the market will keep on growing during the forecasted period. Burgeoning construction and automobile industry are providing impetus to the market growth. The durability, heat resistance, stability and high strength are the major key point by which the demand has increased in the end use applications. Geographically, Asia-Pacific is the leading market as per the estimation due to the growing construction and automobile industry, rising population, government initiatives, and rising per capita income.
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Silicone Coatings are used in various end-user industries such as marine, building & construction, Industrial machineries, medical & healthcare devices, architectural and automotive among others. Silicone Coatings are used in marine industry as foul release coatings. These coatings offer better protection against algae, tubeworms, barnacles and other marine organisms. These factors increases drag on the hull thus increasing the fuel consumption of ships by up to 43%. Silicone Coatings prevent growth of microorganisms on the substrate and increases efficiency of the ship. One of the major applications of Silicone Coatings is in roofing. Silicone coatings provide excellent dirt, weathering and chemical resistance properties. Moreover, it increases life of roofing and enhances ponding water protection.
Silicones are commonly used for coating to improve protective and preservative attributes. Resins as binders or polymers as additives are two types of silicone products used to produce silicone coatings, which are primarily used for paint and coatings to enhance aging of the paint and wettability for easier application. With Silicone Coatings, manufacturers in the industries of automotive and construction achieve desirable scratch, water, and chemical resistance for their products. The current affluence of automotive and construction industries is influencing the Global Silicone Coatings Market.
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Silicone Coatings Global Market - Synopsis
Silicone is used in wide variety of products such as waxes, rubbers and oil. Silicon Coatings have excellent UV resistant characteristics. Silicone coatings provides low weathering and high gloss durability. Silicone Coatings can sustain high temperature levels with altering the properties of the coatings. Silicone Coatings are water repellent, and provide good resistance against chemicals and corrosion. Silicone Coatings are prepared through various formulations. They can be mixed with a wide range of chemicals such as phenyl, polyether and ethyl. Furthermore, silicone coatings are formed in compound formulations such as silicone alkyds, silicone acrylics, silicone polyesters, water-borne silicone and high solids silicone.
Silicone Coatings Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Silicone Coatings appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Vendors are focusing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets like India, China, Indonesia, Brazil, and South Africa. Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new technologies to meet the changing needs of consumer. The market is expected to witness the entry of several new players who are technologically advanced and will capture a major portion of fast moving market of Silicone Coatings in the coming years.
Silicone Coatings Global Market - Regional Analysis
Geographically, Asia Pacific holds the hegemony of the market for Silicone Coatings. This growth is mainly attributed to increasing demand from marine and electronics industry. China, Japan and South Korea led the demand for Silicone Coatings in this region. However, countries from South and Southeast Asia are likely to offer huge opportunities for silicone coatings over the forecast period. Asia Pacific is closely followed by North America. The U.S. had the highest demand for silicone coatings in North America region owing to the Cookware and roofing applications for silicone coatings in this region. Europe had the third largest share in the Global Silicone Coatings Market. Countries such as the UK, Germany and France led the demand for Silicone Coatings in this region. Central and East Europe is expected to show potential growth for the Silicone Coatings Market over the forecast period.
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