Silicone Coating Market: Global Industry Analysis and Forecast (2023-2029)

Silicone Coating Market was valued at US$ 6.51 Bn. in 2022. Global Silicone Coating Market size is expected to grow at a CAGR of 5.7 % through the forecast period.
Silicone Coating Market Overview:
Silicon is one of the most used preservatives and protective in the coating industry. The Silicone coatings are made up of resins and polymers. Silicone coatings are highly used by automotive and construction companies. Silicone coatings are also used in maintaining the ageing of products such as paints. Many Segments in the silicone coating market are experiencing high growth, as silicone coating is scratch resistance and chemical resistance. Thus a wide range of users continuously increases the expansion rate of the market. Further, the automotive sector and construction sectors are supporting the market growth through the forecast period. Corrosion resistance and regulating temperature are one of the major features of silicone coating. As a result of these factors the silicone market value is increased by 9.90 Bn.

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The impact COVID 19 has on many major industries including the silicone coating market. Many major industries stopped their operations during this period including silicone coating industries. Thus, market faced many challenges during this period. As automotive and construction industries were facing losses due to the shutdown of the world market. Thus in recent years, there is a decrease in the production of coating products. Due to lockdown and government restrictions, the market was facing a downfall. But Post COVID 19, due to the easing of restrictions the construction sites are reopening and the new range of automotive are coming and market operations are regaining and resuming their work. Thus the silicone coating market is expected to grow through the forecast period.

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022 market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Silicone Coating Market Dynamics:
The consumer electronics market is one of the important drivers of the silicone coating market, as majorly silicone is used for coating any consumer electronics product. Due to its good appearance, enhanced quality and exceptional finish the products coated with silicone attracts the consumer. The high need for consumer goods increasing the demand for the market through the forecast period. Further, the silicone coating for waterproofing is showing exceptional demand and an increase in demand from the construction industry is supporting the silicone coating market growth through the forecast period. The key end-users such as the automotive and transportation sectors are also assisting the market growth, as the automotive sector has high investments in silicone coatings. Which lead to expanding the market through the forecast period.

The advancements in product quality and innovations in these products are rising demand for the silicone coating market. Consumers are focused on quality rather than the pricing of the product, thus the key players are focused towards raising the quality of products and features of silicone coating. Quality, better appearance, thermal stability, low reactivity and toxicity are the advancements in silicone coating products. All these factors are expected to increase the market size. Moreover, the surge in urbanization is also one of the key factors that are expected to contribute to market growth as urbanization is expected to be high in upcoming years. Also due to the increase in the purchasing power of consumers the adaptation of silicon coating is increasing thus due to these opportunities the silicon coating market is expected to grow through the forecast period.

Silicon coating is higher in price as compared to its substitutes, due to the high cost of silicon materials. This is one of the restraining factors that are hindering the silicone coating market. Developing nations are expected to lower the adaptation of silicone coating. These factors are expected to downgrade the growth rate of the market through the forecast period. Government regulations and restrictions are one of the main challenges in the silicone coating manufacturing process. As materials like silicone and coating are toxic. Companies need to obey the rules and government policies during production. As these rules are strict, which affects the production rate. Also, a decrease in production may cause a low sales rate for the market.

Silicone coatings are used in the automotive industry in interiors and exteriors, as silicone coating has multiple advantages such as moisture resistance, flexibility and softness and resistance to heat. The increase in the automotive industry is accelerating demand for the silicone coating market. The total vehicle production in North America is increased by 32% in recent years and in Europe it is increased by 26% thus it is expected that the growth of the automotive industry fuel the demand for the market through the forecast period.
Silicone Coating Market Segment Analysis:
By Type, The silicone coating market is segmented into additives, Polymers, Water repellents, and 100% silicone. The additive segment is growing at the highest CAGR through the forecast period. All types of silicones including resins, pH modifiers, and Foam control products, aminopolysiloxanes are used as additives in paints and coatings. Also, they provide flexibility to create custom products. Silicon additives also help in levelling and antifoaming properties. DOWSIL 904H coating additive is used for architectural façade coatings and supports building exteriors by reducing the snail trail effect. It also improves water repellence, resistance and beading.

By End User, the silicone coating market is segmented into Automotive and transportation, building and construction, and electronics. The electronics segment held the largest share in the market in 2022 and it is expected to grow at a 7.3% CAGR through the forecast period. As silicon coating is widely used in semiconductors and to enhance the crucial surface of computers. However, computer production is further increasing the market growth. According to MMR research, the production of computers is expected to increase by 4.7%. Thus the growing consumer base in the electronics segment is expected to fuel the market growth through the forecast period.
Regional Insights:
Based on regional analysis, the market is classified into North America, Asia Pacific, Europe, South America, Middle East and Africa. The North American region dominated the market with xx % share in 2022. The North American region is expected to witness significant growth at a CAGR of xx% through the forecast period. It is a region with many growth opportunities in the market. Also, Canada and United States are key contributors to the market. New market players are present in the market, leading to new developments in forecast years. Also, advanced silicon coating products are expected to be available in the market. Moreover, lesser cost barriers create a free flow of demand. All these factors are expected to assist the silicon coating market in North America.

Asia Pacific region is expected to show significant demand through the forecast period. As it is the fastest-growing market due to increased demand from the construction and electronics sectors. The electronics market is expected to account for a revenue of around 480 Bn out of 260 Bn is expected from china alone. As a result, it is expected to affect the silicone coating market through the forecast period. As Indian government has planned to build smart cities thereby creating scope for the application of the silicon coating market.

The objective of the report is to present a comprehensive analysis of the Global Silicone Coating Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Silicone Coating Market dynamic, structure by analyzing the market segments and projecting the Silicone Coating Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Silicone Coating Market make the report investor’s guide.
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 Silicone Coating Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $6.51 Bn.


Forecast Period 2023 to 2029 CAGR:
5.7%
Market Size in 2029:
US $ 9.61 Bn.


 Segments Covered:
by Type
Additives
Polymers
Water repellents
100% silicone


by End-User
Automotive and transportation
building and construction
Electronics


by Product Type
Liquid
Powder



Silicone Coating Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are :
1. Henry Company
2. Shin-Etsu Chemical Co. Ltd.
3. Milliken & Company
4. HumiSeal
5. CHT UK Bridgwater Ltd
6. Dow
7. Elkem Silicones
8. KCC Silicone
9. BASF SE
10.Evonik Industries AG
11.KIKUSUI
12.Momentive
13.Dampney Company
14.Wacker Chemie AG
15.THE GRIFF NETWORK,
16.KM COATINGS

Frequently Asked Questions:

1] What segments are covered in the Global Silicone Coating Market report?
Ans. The segments covered in the Silicone Coating Market report are based on Type and End User.

2] Which region is expected to hold the highest share in the Global Silicone Coating Market?
Ans. The North America region is expected to hold the highest share in the Silicone Coating Market.

3] What is the market size of the Global Silicone Coating Market by 2029?
Ans. The market size of the Silicone Coating Market by 2029 is expected to reach US$ 9.61 Bn.

4] What is the forecast period for the Global Silicone Coating Market?
Ans. The forecast period for the Silicone Coating Market is 2023-2029.

5] What was the market size of the Global Silicone Coating Market in 2022?
Ans. The market size of the Silicone Coating Market in 2022 was valued at US$ 6.51 Bn.