Albany, NY -- (SBWIRE) -- 01/05/2018 -- Silicones are commonly used by the coating industry to improve its protective and preservative attributes. Resins as binders or polymers as additives are two types of silicone products used to produce silicone coatings, which are primarily used for paint and coatings to enhance aging of the paint and wettability for easier application. With silicone coatings, manufacturers in the industries of automotive and construction achieve desirable scratch, water, and chemical resistance for their products. The current prosperity of automotive and construction industries is having a pied piper effect on the global silicone coatings market, which is projected to expand at a rapid growth rate during the forecast period of 2016 to 2024.
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This report on the global silicone coatings market provides qualitative and quantitative analysis of all the factors that are expected to influence the demand over the course of next eight years, and estimates the future scenario. The report has been developed to act as a credible business document for audiences such as silicone coatings manufacturers, raw material suppliers, suppliers and distributors of silicone coatings, government and regional agencies, research organizations, and investment research firms. The report also profiles a number of key players currently active in the global silicone coatings market, estimating their market share and exploring their product portfolio.
The global silicone coatings market can be segmented on the basis of composition type into silicone additives, silicone polymers, 100% silicone, and silicone water repellents. Application-wise, the market can be bifurcated into construction, automotive and transportation, consumer goods, industrial, paper and film release, and marine. By technology, the market can be categorized into solvent-based, solventless, water-based, and powder based. Geographically, the report studies the lucrativeness of several regions including Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
Rapid urbanization and increasing disposable income, with which the construction and automotive industry is thriving, is the primary factor behind the incrementing demand for silicone coatings. The awareness among the consumers is growing and they are willing to pay extra for enhanced quality and appearance that is brought to the products by silicone coatings. In construction industry, silicone coatings find application for tiles, wood and wood panel, concrete, perlite, and mortar. Their important attributes such as low chemical reactivity, thermal stability, low toxicity, and low thermal conductivity is highly useful as they enhance durability, strength, and stability of the end-product. Conversely, high production cost of silicone coatings is expected to obstruct the market from achieving its full potential during the forecast period.
Consumer goods is emerging as a highly profitable application segment of the silicone coatings market, with escalating demand for electronic products. Technology-wise, silicone water repellents is the segment with best growth rate, owing to its effective hydrophobic properties as well as robust water resistance properties.
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North America currently is the most lucrative market, serving maximum demand for silicone coatings both in terms of value and volume. However, emerging economies such as India and China, which houses vast population base, is quickly making Asia Pacific a highly important region for the players in this market.