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Silicone Modified Polyester Resin Market Worldwide Industry Analysis and New Market Opportunities Explored 2017 - 2025
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Silicone modified polyester resins improve gloss retention and polyester’s chalk performance. They are widely used in commercial building paints and coatings for better abrasion/ scratch resistance, fade /chalk advantage over polyesters, outstanding color consistency, etc. Thus, the consumption of silicone modified polyester resins is expected to surge during the forecast period. Increasing use of silicone modified polyester (SMP) resin in various end use industries is expected to further aid the growth of the SMP resin market.
Silicone Modified Polyester Resin Market: Dynamics
Silicone modified polyester resin is used in various applications, such as in protective and decorative coatings for electrical and electronic equipment and in BM ink for touch panels. Attributing to the wide area of applications silicone modified polyester resins find, manufacturers are expected to increase the production of silicone modified polyester resins to cope with the demand, which is expected to fuel the growth of the silicone modified polyester resin market during the forecast period.
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Continuous investments in research & development along with strategic partnerships along the pre-coated metal production chain (paints, surface treatment, coater’s application and curing processes) are expected to lead the silicone modified polyester resin market during the forecast period.
Continuously rising demand for low cost and high performance coatings and implementation of modern technologies and aggressive environmental policies, such as REACH are expected to be the major factors restraining the growth of coil coatings and subsequently, that of silicone modified polyester coatings.
Asia Pacific is expected to witness robust growth in terms of consumption of silicone modified polyester resins during the forecast period, which can be attributed to the growing metal appliances and glass industries in China and India. Implementation of new technologies and consolidations is one of the key factors estimated to lead the silicone modified polyester resin market in North America. For instance, in December 2016, PPG Industries, introduced Durastar Ultra-Cool coatings, which combines infrared-reflective (IR-reflective) pigments with advanced silicone-modifies polyester coatings formulation to extend and enhance the service life and beauty of panels, building components etc.
Europe is expected to witness significant growth in the silicone modified polyester resin market, owing to the fact that pre-coated steel and aluminum can be recycled with few losses. These factors have contributed significantly to the growth of the silicone modified polyester resin market in the recent past and the trend is expected to continue over the next decade.
Latin America and Middle East & Africa (MEA) are expected to witness decent growth of in the silicone modified polyester market, attributing to the rising demand for appliances in countries, such as Turkey, Brazil, Mexico and GCC Countries.
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