According to the latest report by IMARC Group “Silicone Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global silicone coating market size reached US$ 6.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
Silicone coating refers to the protective and preservative layer for structures that are manufactured through synthetic polymeric compounds. It is available as solvent less and solvent-based, water-based and powder-based coatings. It aids in protecting the building from damage, corrosion, ultraviolet (UV) rays, and dampness and provides high reliability and performance. It assists in improving adherence and waterproofing and is resistant to extreme environmental conditions. As a result, the silicone coating is widely employed in the construction, electronics, healthcare, automotive, and textile industries across the globe.
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Market Trends:
At present, the increasing utilization of silicone coatings for waterproofing of roofs in the construction industry represents one of the key factors contributing to the growth of the market. Besides this, the growing demand for silicone coating in the marine industry to eliminate fouling in naval vessels is offering a positive market outlook. Apart from this, the increasing adoption of silicone coating in the textile industry due to its superior gloss retention properties and advanced leveling and smoothing is bolstering the growth of the market. Moreover, various benefits offered by silicone coatings, such as thermal and electrical resistance and protection from moisture, dust, and water, are propelling the growth of the market. Furthermore, key players are introducing a new silicone coating that can be used for several applications, such as tapes, adhesives, graphic arts, and industrial release liners.
Breakup by Product:
- Silicone Additives
- Silicone Water Repellents
- Silicone Polymers
- 100% Silicone
Breakup by Technology:
- Solvent-Based
- Solventless
- Water-Based
- Powder-Based
Breakup by Application:
- Building and Construction
- Consumer Goods
- Automotive and Transportation
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AFCONA Chemicals Sdn Bhd
- BASF SE
- Borchers Inc. (Milliken & Company)
- Chase Corporation
- CHT Germany GmbH
- Dow Inc.
- Evonik Industries AG
- Lakma Group
- Momentive Performance Materials Inc.
- Shin-Etsu Chemical Co. Ltd.
- Wacker Chemie AG.
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