Silicone Additives Market Share, Size, Analysis, Outlook (2018-2023) by DowDuPont (U.S.), Evonik Industries AG, Shin-Etsu Chemical Co., Ltd, Elkem, Momentive, KCC Corporation, Wacker Chemie AG, BYK Additives, Siltech Corporation, BRB International

Regional Analysis

Asia Pacific is the fastest growing silicone additives market in the globe due to growth of the construction industry along with wide availability of raw materials for Silicone Additives production. Increasing demand for packaged food and beverages as a result of hectic lifestyle along with significant increase in the number of working-class women is expected to augment market growth. Furthermore, growing aerospace and defense industry in India and China are fueling the demand for the Silicone Additives Market. The product used in the construction industry is increasing as a result of improving living standard coupled with rising purchasing power.

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North America is expected to grow at a staggering rate over the forecast period. Silicone Additives are being used increasingly in the automotive, marine and defense industries in this region. Moreover, Silicone Composites Ltd. introduced a new technique for ship manufacturing such as use of silicone vacuum bags.

Europe is witnessing a significant growth in the market as a result of growing flexible packaging market, especially in Italy, Poland, and Turkey. Furthermore, Europe based Constantia Flexibles has acquired India based Creative Polypack in 2017 to expand its base in the Indian subcontinent. Furthermore, the demand from automotive industry is growing due to emission targets set for the vehicle by the European Commission.

Market Overview

Silicone Additives are majorly used in plastics and composites for improving processing and surface properties of the plastic. These additives are used for improving the mold filling, surface lubricity, and wear resistance of plastic products. The product finds application in end-use industries including paints and coatings, paper and pulp, construction, personal care, and food & beverage. The second largest use of Silicone Additives is in paints and coatings industry to enhance the performance of the finished products and to reduce the surface tension of the liquid.

Thermoplastics manufacturers are increasingly using silicone additives due to its ideality in processing, modifying thermoplastics, and reducing the noise generated by the motion of plastic parts. For instance, new additive introduced by Wacker Chemie AG in 2016, one of the key players in the global silicone additives market, under the brand name GENIOPLAST, is widely used by the thermoplastic manufacturers. The product demand is increasing from the packaging industry because it enhances the lubricity and appearance of the product. Rising demand from automotive, renewable energy, and aerospace industries for materials and technically advanced equipment is driving the Silicone Additives Market.

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