Market Analysis and Size
Significant growth in the construction industry all over the globe is one of the main factors producing a positive outlook for the market. High-performance water-based acrylate-silicone coatings are broadly used on the walls and roofs of residential and commercial constructions to guard them from damage which has caused by ultraviolet (UV) exposure, corrosion, dust, and dampness due to regular changes in climatic conditions. Furthermore, the growing application of silicon coatings in marine and automobiles is driving market growth. Moreover, several product innovations, such as the expansion of organic silicon coatings, enhanced dust resistance, hydrophobicity, heat resistance, and moisture resistance, act as other growth factors. Other factors, including increasing ecological consciousness among the masses, and the application of favourable government policies stimulating sustainable development, are expected to drive the market toward growth.
Data Bridge Market Research analyses that the silicone coating market was valued at USD 5.51 billion in 2021 and is expected to reach USD 8.72 billion by 2029, registering a CAGR of 5.90 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
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Market Definition
Silicone coatings refer to preservative and protective coatings which has manufactured by using synthetic polymeric compounds. They are produces by using many polymers and resins as additive and binders. Some of the usually available silicone coatings include solvent less and solvent-based, water-based and powder-based coatings. These coatings show several beneficial properties, such as weathering, high structural strength and water, corrosion and scratch resistance. In comparison to the normally used coatings, silicon alternatives have a longer life and are more environment friendly. As a result, they find wide applications across several industries, including construction, electronics, automotive, chemical, marine and paper and pulp.
Silicone Coating Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
· Growing construction industry
The silicone coating is used as a layer of safeguard for the building structures to protect the buildings from harsh weather situations. Due to the growth in the construction industry the demand of the global silicone coating market is expected to the major driving factor for the growth of the market. Thus the need for effective coating products.
· Rise in government and private expenses toward defence and aerospace activities
Some of the modern technologies include water-based, solvent less, solvent-based, and powder-based coatings. Solvent less technology is in advance popularity due to the environmental regulations and stringent emission and awareness towards consuming energy-efficient solutions and products.
· Rise in number of application
Increasing application of conformal coatings in several areas such as industrial, defence, automotive, and building and construction is expected to drive the constructers towards backward integration in the value chain over the upcoming years.
· Increasing environmental concerns
The global silicone coating industry is being driven by the growing demand for ecological coating all over the globe. The increasing global demand for green buildings and increasing ecological concern combined with stringent VOC regulations are supporting the industries growth
Opportunities
· Technology advancement
Advancements in automobile technology together with growing standard of living and disposable income are anticipated to drive the transportation and automotive industry. With the increasing population in developing nations, infrastructure development is expected to produce a high growth potential for automotive manufacturers.
· Increased manufacturing capacity
Silicone manufacturers are increasing their manufacturing capacity and infrastructure with a goal to cater to the developing market requirements. Furthermore, the main coating industry players are indulged in partnerships and acquisitions to confirm uninterrupted raw material supply. Acquisitions and joint ventures are an essential part of this industry and help businesses to support their market position.
Restraints/ Challenges
High manufacturing cost of production will obstruct the growth of silicone coating market. Strict regulatory approvals and price perceptive market essential for production will challenge the growth of the silicone coating market in the forecast period. The negative impact of COVID-19 outbreak on supply chain and high cost of raw materials will act as market restraint and further challenge the market growth rate. Non-availability of handle support in silicone coating and inability to carry heavy goods are the major market restrains that will obstruct the market's growth rate.
This silicone coating market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the silicone coating market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Silicone Coating Market
The COVID-19 pandemic had impacted the growth of the global silicon coatings market. From a regional point of view, the outbreak of COVID-19 has caused a major setback to the export-oriented economy of countries due to the closing down of manufacturing plants in the country. The construction sector is harshly affected as self-isolation, social distancing, and city-wide lockdowns have forced many locations to stop construction overall the globe and construction sites, except those working on important projects like hospitals. All this has impacted the overall silicon coating consumption across all the countries.
Global Silicone Coating Market Scope
The silicone coating market is segmented on the basis of composition, application and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Composition
· Silicone Additives
· Silicone Polymers
· 100% Silicone
· Silicone Water Repellents
Application
· Construction
· Automotive and Transportation
· Consumer Goods, Marine
· Industrial, Paper and Film Release
· Others
Technology
· Solvent less
· Solvent-Based
· Powder-Based
Silicone Coating Market Regional Analysis/Insights
The silicone coating market is analysed and market size insights and trends are provided by country, composition, application and technology as referenced above.
The countries covered in the silicone coating market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
North America dominates the silicone coating market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising demand for silicone coating in this region. The Asia-Pacific region dominates the silicone coating market, due to rising demand for silicone coating is from developing economics such as India and China.
During the projected period, Asia-Pacific is expected to be the fastest developing due to the increasing application scope from automotive construction and transportation industries in this region. .
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Silicone Coating Market Share Analysis
The silicone coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to silicone coating market.
Some of the major players operating in the silicone coating market are:
· Wacker Chemie AG (Germany)
· Momentive (U.S.)
· Dow (U.S.)
· Shin-Etsu Chemical Co., Ltd. (Japan)
· KCC Silicone (South Korea)
· BASF SE (Germany)
· Evonik Industries (Germany)
· Humiseal (UK)
· Siltech Corporation (Canada)
· BYK-Chemie GmbH (Germany)
· Afcona Chemicals Sbn Bhd (Netherland)
· Brochers Inc. (France)
· Chase Corp, (US)
· CHT Germany GmbH (Germany)
· Carboline Company (India)
· Damprny Company (US)
· Henry Company (US)
· The Griff network (US)
· Mapei S.p.A. (Italy)
· Sika AG (Switzerland)
Research Methodology: Global Silicone Coating Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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