Market Overview
Silicone Additives Market are used in various industries such as plastic & composites, paints & coating and textile industries due to their superior properties such as low surface tension, chemical inertness, and enhanced softness. It is majorly used in plastics & composites industry owing to chemical resistance, mold release, and wear resistance. Increasing demand from the automotive, aerospace & defense and marine industries is driving the market growth due to growing use of lightweight components to impart efficiency. Growing use in the furniture and packaging industry is likely to fuel the product demand. Silicone additives usage is increasing in paints & coatings industry due to various properties such as leveling and dispersing properties. Since they offer high-temperature resistance, ultraviolet resistance, durability, and adhesion, construction, and architectural industry is the major end user of the products. These additives perform various functions such as anti-foaming, rheology modifiers, leveling, and lubricating agents. Due to its anti-foaming property, it is preferred in various industries including paints & coatings, food & beverages, and paper industry. Silicone additives are being increasingly used in the automotive industry as lubricant agents for polishing and dressing.
Market Segmentation
The global silicone additives market is segmented into a function, applications, and region.
On the basis of the function, the market is sub-segmented into defoamers, rheology modifiers, wetting & dispersing agent, a lubricating agent, and others.
Based on the end-use industry, the global silicone additives market is segmented into plastic & composites, paints & coatings, construction, food & beverages, paper &pulp, personal & home care, chemical and oil & gas, agriculture, and others.
Geographically, the market is divided into five key regions namely, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
The Asia Pacific region is dominating the global silicone based paint market on account of growing industrial base in the developing economies such as India, China, Thailand, and South Korea. Furthermore, the automobile industry is witness a rapid growth due to rising vehicle sale by the middle-income group people in India and China. Increasing use in the textile industry coupled with the prevalence of good demographic and supportive government policies is fuelling the product demand.
North American and European regions are witnessing a significant growth in the global silicone additives market. Increasing use in automotive, defense, and aerospace industry due to its lightweight.is propelling the market growth in this region. Furthermore, regulations laid down for environment protection from hazardous substances is stimulating the demand for fuel-efficient products.
Competitive Analysis
Some of the prominent players in the global silicone additives market are DowDuPont (U.S.), Evonik Industries AG (Germany), Shin-Etsu Chemical Co., Ltd (Japan), Elkem (Norway), Momentive (U.S.), KCC Corporation (South Korea), Wacker Chemie AG (Germany), BYK additives (Germany), Siltech Corporation (Canada), and BRB International (the Netherlands).
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