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Silicone Resins Global Market Report 2024 - By Share, Size, Trends, Demand, Forecast To 2033
Silicone Resins Market
As per the report, the silicone resins market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The silicone resins market size is expected to see strong growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
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Rise In Construction Activities To Drive Market Growth
An increase in the number of projects related to construction activities is expected to propel the silicone resins market. Due to the quick industrialization and urbanization, there has been an increase in construction activities. Construction materials like silicone resin are in high demand due to these construction activities. In architecture and construction, silicone resins hold important structural components in connections for expansion, building, connection, and movement. For instance, according to a report released in June 2021 by Statistics Canada's national statistical office, investments in building development climbed to $19,273 million in 2020 from $14,294 million in the previous year. Therefore, increasing construction activities will drive the silicone resins market.
Advancements In Silicone Resin Formulations Reshaping The Market
Developing new silicone resin formulations is a key trend gaining popularity in the silicon resins market. The development of new silicone resins refers to creating silicone resins functionalized with novel reactive groups and components that can offer formerly unattainable qualities. Major players in the silicone resin sector are focused on developing new silicone resin formulations to sustain their market position. For instance, in January 2022, B9Creations, a US-based company engaged in advanced manufacturing and 3D printing launched an innovative elastomeric resin known as BioRes - Silicone. BioRes - Silicone is a biocompatible 3D printing material that offers specialized medical and consumer technology applications for comforting skin contact items. B9Creations' medical-grade silicone is International Organization for Standardization (ISO) 90993-approved for extended skin contact and provides a special combination of biocompatibility, high accuracy, surface quality, and rip resistance.
The silicone resins market covered in this report is segmented -
1) By Type: Methyl Silicone Resins, Methylphenyl Silicone Resins, Other Types
2) By Function: Binding Agents, Impregnating Agents, Hydrophobic Agents, Release Agents, Modifiers
3) By Application: Paints And Coatings, Adhesives And Sealants, Elastomers, Other Applications
4) By End User: Automotive And Transportation, Building And Construction, Electrical And Electronics, Healthcare, Industrial, Other End Users
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Major companies operating in the silicone resins market report are Wacker Chemie AG, Dow Corning Limited, Shin-Etsu Chemical Corporation Limited, Evonik Tego Chemie GmbH, Bluestar Silicones Co. Ltd., Kaneka Corporation, PCC SE, Kanto Chemical Co. Inc., Primasil Silicones Limited, Alchemie Ltd., KCC Corporation, Innospec Inc., Iota Silicone Oil (Anhui) Co. Ltd., Genesee Polymers Corporation, Supreme Silicones India Pvt. Ltd., Momentive Performance Materials Inc., Elkem Silicones AS, Siltech Corporation, ICM Products Inc., BRB International BV, Reiss Manufacturing Company Inc., Siltech LLC, Silteq Limited, Gelest Incorporated, Jiangsu Hongda New Material Co. Ltd., Guangzhou Tinci Materials Technology Co. Ltd., Zhejiang Xinan Chemical Industrial Group Co. Ltd., Shandong Dayi Chemical Co. Ltd., Hubei Xinsihai Chemical Engineering Co. Ltd., Jiangsu Maysta Chemical Co. Ltd.
Contents of the report:
1. Executive Summary
2. Silicone Resins Market Report Structure
3. Silicone Resins Market Trends And Strategies
4. Silicone Resins Market - Macro Economic Scenario
5. Silicone Resins Market Size And Growth
…..
27. Silicone Resins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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