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Silicone Coating Market Report by Product (Silicone Additives, Silicone Water Repellents, Silicone Polymers, 100% Silicone), Technology (Solvent-Based, Solventless, Water-Based, Powder-Based), Application (Building and Construction, Consumer Goods, Automotive and Transportation, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A4131
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Global Silicone Coating Market:
The global silicone coating market size reached USD 6.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 9.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032. The increasing product requirement across various industries, such as automotive, chemical, and construction, is stimulating the market growth. Besides this, the growing environmental consciousness is also propelling the market demand.
|
Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
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2018-2023
|
|
Market Size in 2023
|
USD 6.7 Billion |
|
Market Forecast in 2032
|
USD 9.8 Billion |
| Market Growth Rate 2024-2032 | 4.2% |
Silicone Coating Market Analysis:
- Major Market Drivers: The widespread usage of high-performance water-based acrylate-silicone coatings on the roofs and walls of commercial and residential buildings to protect them from damage caused by corrosion and dust is propelling the market.
- Key Market Trends: The rising utilization of silicon coatings in cars and maritime is acting as a significant growth-inducing factor.
- Competitive Landscape: Some of the major market companies include 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., and Wacker Chemie AG, among many others.
- Geographical Trends: North America is currently dominating the market due to the elevating requirements for materials with high-temperature resistance and protective qualities in the aerospace and electronics sectors.
- Challenges and Opportunities: The high cost of raw materials is hampering the market. However, improving production efficiencies and creating cost-effective alternatives to preserve product quality and performance will continue to catalyze the market over the forecast period.
Silicone Coating Market Trends:
Expanding Application in Electronics
Silicone coatings are rapidly being utilized in the electronics sector for insulation and protection, owing to the growing demand for high-performance materials that protect sensitive components from moisture, heat, and corrosion. In July 2024, Dow launched DOWSIL CC-8000 series UV and dual moisture cure conformal coatings, a range of solventless silicone coatings that provide strong protection for electronic components in renewable energy applications. This is expanding the silicone coating market share.
Increased Demand for High-Performance Coatings
As per the silicone coating market analysis report, the need for high-performance coatings in critical infrastructure industries is being driven by the requirement for materials that can withstand extreme climatic conditions, such as high temperatures, corrosive environments, and mechanical stress. In August 2024, PPG announced the launch of PPG PITT-THERM 909 spray-on insulation (SOI) coating. This silicone-based coating is designed for high-heat environments in the oil and gas, chemical, petrochemical, and other critical infrastructure industries.
Rising Focus on Sustainability and Recycling Initiatives
The industry's sustainability and recycling initiatives are geared toward lowering environmental impact by providing recycling solutions for silicone-coated items. This assists industries in meeting regulatory criteria and encourages environmentally friendly practices by reducing waste and increasing resource efficiency. In August 2024, the Tag and Label Manufacturers Institute (TLMI) and CELAB North America merged their efforts to research and identify recycling solutions for silicone-coated label release liners through a unified TLMI project called the Liner Recycling Initiative (LRI).
Global Silicone Coating Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with the silicone coating market forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, technology, and application.
Breakup by Product:
- Silicone Additives
- Silicone Water Repellents
- Silicone Polymers
- 100% Silicone
Currently, 100% silicone holds the largest silicone coating market share
The report has provided a detailed breakup and analysis of the market based on the product. This includes silicone additives, silicone water repellents, silicone polymers, and 100% silicone. According to the report, 100% silicone represented the largest market segmentation.
100% silicone products are popular due to their better weather resistance, durability, and flexibility. These coatings are frequently utilized in roofing and industrial applications, providing long-term protection against extreme climatic conditions.
Breakup by Technology:
- Solvent-Based
- Solventless
- Water-Based
- Powder-Based
Among these, water-based currently holds the largest silicone coating market demand
The report has provided a detailed breakup and analysis of the market based on the technology. This includes solvent-based, solventless, water-based, and powder-based. According to the report, water-based represented the largest market segmentation.
Water-based silicone coatings are driving market expansion due to their ecologically favorable characteristics and low volatile organic compound (VOC) emissions. This technique is generally chosen for environmentally friendly applications in the building, automotive, and industrial sectors.
Breakup by Application:
- Building and Construction
- Consumer Goods
- Automotive and Transportation
- Others
Currently, consumer goods lead the silicone coating market growth
The report has provided a detailed breakup and analysis of the market based on the application. This includes building and construction, consumer goods, automotive and transportation, and others. According to the report, consumer goods represented the largest market segmentation.
The industry is growing in consumer goods applications, providing increased durability, heat resistance, and water repellency for items such as kitchenware, electronics, and personal care products. These coatings offer long-term protection, enhancing product performance and customer pleasure. This represents the silicone coating market outlook.
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
North America currently dominates the market
The silicone coating market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
North America exhibits a clear dominance in the market, as the construction sector is increasingly adopting silicone coatings for roofing and building protection due to their weather-resistant and waterproofing properties, while the region's automotive industry is increasing their use of automotive parts, which provides benefits such as heat resistance and durability.
Competitive Landscape:
The silicone coating market outlook report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:
- 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
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Silicone Coating Market Recent Developments:
- August 2024: The Tag and Label Manufacturers Institute (TLMI) and CELAB North America merged their efforts to research and identify recycling solutions for silicone-coated label release liners through a unified TLMI project called the Liner Recycling Initiative (LRI).
- August 2024: PPG announced the launch of PPG PITT-THERM 909 spray-on insulation (SOI) coating. This silicone-based coating is designed for high-heat environments in the oil and gas, chemical, petrochemical, and other critical infrastructure industries.
- July 2024: Dow launched DOWSIL CC-8000 series UV and dual moisture cure conformal coatings, a range of solventless silicone coatings that provide strong protection for electronic components in renewable energy applications.
Silicone Coating Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion USD |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Products Covered | Silicone Additives, Silicone Water Repellents, Silicone Polymers, 100% Silicone |
| Technologies Covered | Solvent-Based, Solventless, Water-Based, Powder-Based |
| Applications Covered | Building and Construction, Consumer Goods, Automotive and Transportation, Others |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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, etc. |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the silicone coating market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global silicone coating market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the silicone coating industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
The global silicone coating market was valued at USD 6.7 Billion in 2023.
We expect the global silicone coating market to exhibit a CAGR of 4.2% during 2024-2032.
The rising demand for silicone coating across various industries, such as automotive, chemical, construction, etc., owing to its beneficial properties, such as high thermal stability, structural strength, corrosion and scratch resistance, etc., is primarily driving the global silicone coating market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for silicone coatings.
Based on the product, the global silicone coating market can be segmented into silicone additives, silicone water repellents, silicone polymers, and 100% silicone. Currently, 100% silicone holds the majority of the total market share.
Based on the technology, the global silicone coating market has been divided into solvent-based, solventless, water-based, and powder-based. Among these, water-based currently exhibits a clear dominance in the market.
Based on the application, the global silicone coating market can be categorized into building and construction, consumer goods, automotive and transportation, and others. Currently, consumer goods account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global silicone coating market include 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., and Wacker Chemie AG.
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