Press release
Silicone Resins Market Witness Steady Expansion During 2020 – 2027
Silicone Resins Market
North America held a significant position in the global silicone resins market in 2017 and this trend is expected to continue over the forecast period due to demand of silicon resin from end-use industry. In North America, demand for Silicone resins increased owing to benefits offered by silicone resins include heat resistance, thermal stability, increased weathering, electrical insulation binder driving the Silicone resins market in North America.
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Among end-use industry, paint and coating segment held a significant market share in the global silicone resins market in 2017, owing to increasing demand for Silicone resins in coating industry. Physical properties of silicon resin such as heat resistance, flexibility, anti-corrosion, and electrical insulation propel demand for silicon resins in the paint and coating industry. For instance, according to the Coherent Market Insights’ analysis, the global paints and coatings market was valued at US$ 137.25 billion and 46,686.09 kilo tons in 2016, and is expected to expand at a CAGR of 5.6% in terms of revenue and 4.8% in terms of volume during 2017 – 2025.
Market Taxonomy
On the basis of product type the global silicone resins market is segmented into:
Pure Silicone
Polyester Resin
Methyl-Silicone
Methyl/Phenyl-Silicone
Alkyd Resins
Epoxy Resins
Others (Polyacrylate Resins and Waterborne Silicone)
On the basis of end-use industry, the global silicone resins market is segmented into:
Building & Construction
Chemical
Paints and Coating
Personal Care
Electrical and Electronics
Automotive
Others (Healthcare, etc.)
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Key players operating in the global silicone resins market include, Wacker Chemie AGThe Dow Chemical Company, Shin-etsu Chemical Co. Ltd., Evonik Tego Chemie, GmbH, Bluestar Silicones, Kaneka Corporations, Momentive performance materials holdings Inc., Adhis S.A.S, BRB International BV, and Siltech Corportion.
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