Press release
Silicone Resins Market Size, Competition Analysis, Growth Trends, and Share Analysis By 2024-2031 | Wacker Chemie AGThe Dow Chemical Company
Silicone Resins Market
Market Overview:
Silicone resins are insoluble polymers made by polycondensation or copolymerization reactions of organosilicon precursors or co-precursors. They are used as coatings, including clear or pigmented coatings for glass, stone, metal and wood. They provide excellent adhesion, flexibility, weatherability and heat resistance.
Market Dynamics:
The silicone resins market is witnessing significant growth due to rising demand from various end use industries such as building & construction, automotive & transportation, industrial application and others. The growing construction activities especially in emerging economies of Asia Pacific is expected to boost the demand for silicone resins during the forecast period. Additionally, increasing usage of silicone resins in various industrial applications such as 3D printing, aerospace, electronics etc. owing to their heat resistance and weatherability properties is further estimated to propel the market growth over the forecast period from 2024 to 2031.
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Top Key Players are Covered in this Report:
★ 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
★ Siltech Corportion.
Market Segmentation:
By Product Type:
★ Pure Silicone
★ Polyester Resin
★ Methyl-Silicone
★ Methyl/Phenyl-Silicone
★ Alkyd Resins
★ Epoxy Resins
★ Others (Polyacrylate Resins and Waterborne Silicone)
By End-Use Industry:
★ Building & Construction
★ Chemical
★ Paints and Coating
★ Personal Care
★ Electrical and Electronics
★ Automotive
★ Others (Healthcare, etc.)
Key Region/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Growing Demand of Silicone Resins from Construction Industry
The construction industry is the major end-use industry driving the growth of the global silicone resins market. Silicone resins find wide application in various construction materials such as sealants, caulks, coatings, and elastomers owing to their excellent properties such as water-repellency, thermal stability, and UV resistance. According to reports, the global construction industry contributed over $13 trillion to the global GDP in 2021 and is expected to grow further in the coming years. This growing construction sector worldwide is expected to boost the demand for silicone resins and their downstream products like construction sealants and coatings.
Increasing Usage of Silicone Resins in Personal Care Products
The personal care industry is another key end-use sector augmenting the demand for silicone resins. Silicone resins offer advantages like smoothness, spreadability, and water repellency in personal care products such as sunscreens, foundations, lipsticks, moisturizers, and serums. With the rising health and beauty consciousness among consumers, the personal care industry has been witnessing steady growth. The global personal care market size was valued at around $500 billion in 2020 and is estimated to reach over $800 billion by 2026. This thriving personal care industry is likely to fuel the consumption of silicone resins in the upcoming years.
Volatility in Prices of Raw Materials
Fluctuating prices of key raw materials used in the production of silicone resins pose a major challenge for market players. Crude oil and natural gas are the primary feedstocks required for synthesizing various silicone materials, and their prices exhibit volatility depending on global supply and demand forces. Any rise in crude oil prices ultimately increases the prices of silicone resins as well. Additionally, frequent changes in import and export duties by various governments further distort the raw material prices in the international marketplace. Unstable raw material costs make operations difficult for manufacturers and compel them to regularly revise the prices of silicone resin products. This volatility in input prices can negatively impact the overall demand-supply scenario of the silicone resins market.
Growing Application Opportunities in Coatings Industry
The coatings industry is providing enormous opportunities for the silicone resins market expansion. Silicone resins find extensive usage in various coating formulations like architectural, industrial, automotive, wood, marine, and other specialized coatings owing to their excellent properties. Silicone resins enhance the performance characteristics of coatings by imparting attributes like water repellency, thermal stability, corrosion protection, flexibility, and UV resistance. Furthermore, recent developments towards environment-friendly and sustainable coating technologies are favoring the use of 100% solid silicone resins over solvent-based counterparts. Strengthening coatings industry and the shift towards green coating technologies are projected to drive the demand for silicone resins from this application segment.
Rising Trend of Hybrid Resins Development
Material scientists are continuously working on developing novel hybrid silicone resin systems with enhanced properties. Hybrid resins incorporate the advantages of silicone and other polymeric materials. For example, silicone-acrylic hybrids combine the characteristics of silicone like thermal resistance with acrylic like weatherability and durability. Similarly, silicone-epoxy and silicone-polyurethane hybrids are gaining attention. These hybrid resins demonstrate superior chemical, physical and mechanical properties. They find wider application scope in protective coatings, adhesives, sealants, and composite matrices. Leading companies invest heavily in R&D activities for hybrid resin formulation and commercialization. The rising trend of hybrid resins signifies new revenue streams for silicone resin producers in the future.
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The report answers a number of crucial questions, including:
➥ Which companies dominate the global Silicone Resins market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Silicone Resins market economy globally?
Some of the Major Points of TOC cover:
Chapter 1: Techniques & Scope
1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources
Chapter 2: Latest Trends Summary
2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends
Chapter 3: Industry Insights
3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape
Chapter 4: Silicone Resins Market, By Region
Chapter 5: Company Profiles
5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook
Chapter 6: Assumptions and Acronyms
Chapter 7: Research Methodology
Chapter 8: Contact (Continue . . .)
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About Us
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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