The global silicone coating market is projected to reach USD 6.60 Billion by 2021, registering a CAGR of 6.90% between 2016 and 2021. The growing manufacturing & end-use industries and increasing construction sector increasing the demand for silicone coatings in the Asia-Pacific region and continuous product development, expansion, and joint venture activities undertaken by companies are the key factors for the growth of the global silicone coatings market.
Seattle, United States -- (SBWIRE) -- 12/01/2016 -- The report "Silicone Coating Market by Type (Additives, Polymers, 100% Silicone, Water Repellents Silicone, and Others), Technology, by Application (Construction, Automotive, Consumer Goods, Marine, Industrial, Paper & Film Release, and Others) - Global Forecast to 2021", The silicone coating market size is estimated to grow from USD 4.73 Billion in 2016 to USD 6.60 Billion by 2021, registering a CAGR of 6.90% between 2016 and 2021.
Browse 159 market data tables with 53 figures spread through 191 pages and in-depth TOC on "Silicone Coating Market - Global Forecast to 2021"
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The market is driven by the rising demand of silicone coating in the growing construction and consumer goods industries. Rising awareness of high-quality silicone products and demand from Asia-Pacific which is experiencing substantial growth fuelled by their increasing population also drive the market.
Consumer goods is the largest application for silicone coating
Silicone coating are used in various applications such as construction, automotives & transportation, consumer goods, marine, paper & film release, and others. In 2015, the consumer goods application accounted for the largest market share, in terms of value. It is driven by the demand for electronics products from the growing population, especially in China, U.S., and India. The construction application is the second-largest application of silicone coating due to growing awareness about its uses in construction areas such as tiles, concrete, mortar, wood & wood panel, and perlite.
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Silicone water repellent is the fastest-growing composition type for silicone coating
Silicone water repellents are the fastest-growing composition type of silicone coatings globally. This is due to its effective hydrophobic properties with excellent weather resistance properties. The key driver for the growth is the increasing usage in of silicone water repellents in construction application and growing manufacturing & construction sector in Asia-Pacific.
Rising demand in Asia-Pacific is the major driver of the silicone coating market
In 2015, North America accounted for the largest market share, in terms of volume and value. However, the high demand in Asia-Pacific is expected to be the major driver of the global silicone coating market. This is due to the increasing demand for quality coating products, rising population in the region, and growing innovation and developments in end-use industries, making it a strong industry hub.
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The players profiled in the silicone coatings market report include Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive Performance Material Inc., (U.S.), Shin-Etsu Chemical Co ., Ltd. (Japan), KCC Silicone (South-Korea), and other regional players.
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