Yahoo Finance Silicone Coating Market - USD 8.65 Bn Opportunity by 2030 with 6.7% CAGR Growth, Says Reports Insights
The high demand for silicone coating-based paints and coatings in the consumer electronics and construction industries, coupled with rising urbanization and industrialization activities, is expected to drive the growth of the global silicone coating market during the forecast period.
New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- As per the research report Silicone Coatings Market published by Reports Insights, the market was worth USD 5.15 Billion in 2022 and is projected to reach over USD 8.65 Billion by the year 2030, growing at a CAGR of 6.7%.
Silicone Coating Market Size, Share & Trends Analysis, By Type (Resins, Additives, Surface Modifiers for Pigments & Fillers, and Polymers), By Technology (Solvent-Based, Solvent-Less), By Viscosity Level (Low Viscosity and High Viscosity), By Application (Industrial Coating (Industrial Roller Coatings, Belt Coatings, and Industrial Textile Coatings), Paints, Hard Coatings, Films, Inks, Paper & Film Release, Adhesives, and Others), By Region and Segment, Forecast Period 2022 – 2030. Silicone coating is a thin layer of silicone material applied to a surface to provide protection, enhancement, or decoration. It is a durable and versatile material that is resistant to heat, water, and many chemicals. It is often used in a variety of industries, including construction, electronics, and automotive, due to its ability to improve the performance and longevity of products. The coating can be applied by spraying, brushing, or dipping, and it can be customized in terms of thickness and properties to meet specific needs.
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Moreover, silicone coatings are widely used in various industries due to their unique properties and benefits. One of the main advantages of silicone coatings is their durability and resistance to weather and other harsh environmental conditions. This makes them ideal for use in outdoor applications such as construction and automotive, where the coating must be able to withstand exposure to extreme environmental elements. Another advantage of silicone coatings is their high-temperature resistance. They are able to withstand extreme temperatures, which aids in favorable use in a variety of industrial and commercial applications, including electronics and consumer goods. Moreover, silicone coatings are also considered safe and non-toxic along with their functional benefits. They do not emit harmful fumes or substances, making them suitable for use in environments where human health and safety are a major concern.
The current market for silicone coatings is anticipated to witness sudden growth due to increasing demand from multiple industries. The rising demand for consumer electronics in the construction industry and the need for advanced and protective coatings in the medical industry are major aspects that drive the growth of the silicone coating market. Moreover, technological advancements and the development of new silicone coating products with improved properties are expected to contribute to the market's growth during the forecast period.
Silicone Coating Market Research Analysis Coverage are:-
Report Attributes | Report Details |
Market Size By 2030 | USD 8.65 Billion |
Forecast Period | 2022-2030 |
CAGR (2022-2030) | 6.7% |
Base Year | 2021 |
Study Timeline | 2016-2030 |
Key Players | Silicone Solutions, Shin-Etsu Silicone, CHT Germany GmbH, The Dow Chemical Company, Elkem Silicones, Specialty Coating Systems Inc., Supreme Silicones India Pvt. Ltd., Wacker Chemie AG, Tokyo Kobunshi Co., Ltd., KCC Silicone, Dongguan City Betterly New Materials Co., Ltd., Walter Wurdack, Inc., Master Bond, Inc., Techsil Ltd., Evonik, Humiseal, Sika AG |
By Type | Resins, Additives, Surface Modifiers for Pigments & Fillers, and Polymers |
By Technology | Solvent-Based, Solvent-Less |
By Viscosity Level | Low Viscosity and High Viscosity |
By Application | Industrial Coating (Industrial Roller Coatings, Belt Coatings, and Industrial Textile Coatings), Paints, Hard Coatings, Films, Inks, Paper & Film Release, Adhesives, and Others |
Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
By Geography | Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] |
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Key Market Highlights
The global silicone coating market size is estimated to surpass USD 8.65 billion by 2030 and grow at a CAGR of 6.7% during the forecast period (2022-2030).
Globally, silicone coatings are divided based on the type into resins, additives, surface modifiers for pigments & fillers, and polymers.
In the context of technology, the market is bifurcated into solvent-based and solvent-less.
The market is also categorized as per viscosity level: low viscosity and high viscosity.
In the context of the application, the market is separated into industrial coating (industrial roller coatings, belt coatings, and industrial textile coatings), paints, hard coatings, films, inks, paper & film release, adhesives, and others.
The market is geographically segregated into five regions: Europe, North America, the Asia-Pacific, South America, and the Middle East and Africa.
Asia Pacific and North America are expected to support the industry growth during the forecast period in terms of growing emphasis on research and development of innovative silicone coatings for multiple end-use industries.
Silicone Coatings Market Segmentation Details:
Based on type, the resins are anticipated to account for the largest shares of the market growth in terms of value. These resins are used in three forms namely, liquid silicone rubber (LSR), room-temperature vulcanizing silicone rubber (RTV), and high-temperature vulcanizing silicone rubber (HTV). Each silicone resin is made of elastomers such as butyl, neoprene, fluorocarbon, polysulfide, nitrile, and natural rubber that offer high resistance to heat along with flexibility in terms of various cross-sectional shapes. Thus, these resins are primarily opted by manufacturers as coatings for numerous applications such as industrial grills and ovens, exhaust systems, combustion chambers, and others.
Based on technology, the solvent-less segment is expected to contribute the largest shares to the market growth in terms of volume. Solvent-less silicone coatings are gaining popularity due to their numerous benefits over conventional solvent-based silicone coatings. The biggest advantage is the lack of volatile organic compounds (VOCs), which makes them safe to use without having any negative impacts on the environment. These solvent-less coatings also produce reduced amounts of emissions which allows them suitable for usage in areas with sensitive air quality standards or enclosed areas. Further, solvent-less silicone coatings are more efficient due to fast curing time and low requirement of energy for drying. Furthermore, the absence of solvents means there is no risk of fire or explosion, making solvent-less silicone coatings safer for the consumer and the environment.
Based on grade type, the bleached segment is projected to contribute substantial shares to the market growth in terms of value. This bleached Silicone Coating is made out of softwood pulp and bleached agro residue free of any optical brightener additives (OBAs). This white or bleached Silicone Coating, similar to virgin natural Silicone Coating, is known for its strength and durability. However, it also offers an additional benefit in terms of a clean and polished appearance. This makes it a preferred option for applications where a neat look is important, such as in restaurants as an alternative to linen tablecloths. Moreover, it is suitable for wrapping and can withstand typical handling and transportation wear and tear of a package. For instance, bleached Silicone Coating is primarily used as food-safe and grease-resistant paper that finds multiple applications as interleaving paper for pizza boxes, fast food wrapping, sugar, salt and spice sachets, machine-glazed (MG) colored posters, and others.
Based on the viscosity level, the low-viscosity segment is anticipated to support the market growth in terms of the largest share contribution. Low-viscosity silicone coatings are easy to apply and offer more uniform coverage. This is due to the offered thinner and more fluid consistency, which makes them convenient as a spray or brush-on. This uniformity in application also results in improved surface appearance and an improved and smooth finish. Moreover, low-viscosity silicone coatings pose lower risks of causing runs, drips, or sagging during application. As a result, a more consistent and professional-looking finish is attained throughout multiple applications. Such polymers also have improved wetting properties, allowing for better adhesion and more complete coverage of the surface. This improved adhesion and coverage results in longer-lasting protection and improved performance.
Based on application, the adhesives segment is projected to contribute substantial shares to the market growth in terms of volume. Adhesives based on silicone coatings offer multiple properties such as biocompatibility and soft adherence which help in sealing the gaps between two materials and surfaces. These adhesives are also primarily based on the feature of elasticity with high tolerance to extreme fluctuations in temperature. Thus, such adhesives witness favorable adoption among manufacturers due to easy repair in case of future requirements.
Based on region, Asia Pacific is projected to provide lucrative opportunities for market growth in terms of volume and revenue. The large presence of established consumer goods manufacturing facilities along with growing construction activities in this region increases the demand for silicone coating in several applications. Further, economies such as China, Indonesia, and India are expected to witness a sudden rise in their industrial and construction activities, which supports the high market demand.
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Recent Developments
In May 2021, WACKER designed an eco-friendly form of its DEHESIVE® silicone release agents called DEHESIVE® eco.
In November 2021, Dow announced a solvent-free alternative called SYL-OFF™ SL 184 Coating, which reduces misting at high speeds of production lines while also saving energy.
In December 2021, Evonik launched the latest silicone release coating called TEGO RC 1442 which is specifically designed for multiple pressure-sensitive and quick-drying adhesive applications.
List of Major Silicone Coatings Market Players
The market research report examines several market parameters to identify the major market drivers, restraints, and opportunities currently being considered by market players. Further, other factors such as SWOT analysis, regional evaluation, and segmental estimation provide a detailed overview of market circumstances. Thus, such evaluation helps in identifying several growth opportunities across several adoptions of technologies, product applications, business strategies, and new product launches. Listed are key players currently functioning in the market—
Silicone Solutions
Shin-Etsu Silicone
CHT Germany GmbH
The Dow Chemical Company
Elkem Silicones
Specialty Coating Systems Inc.
Supreme Silicones India Pvt. Ltd.
Wacker Chemie AG
Tokyo Kobunshi Co., Ltd.
KCC Silicone
Dongguan City Betterly New Materials Co., Ltd.
Walter Wurdack, Inc.
Master Bond, Inc.
Techsil Ltd.
Evonik
Humiseal
Sika AG
Global Silicone Coatings Market Segmentation:
By Type
Resins
Additives
Surface Modifiers for Pigments & Fillers
Polymers
By Technology
Solvent-Based
Solvent-Less
By Viscosity Level
Low Viscosity
High Viscosity
By Application
Industrial Coating
Industrial Roller Coatings
Belt Coatings
Industrial Textile Coatings
Paints
Hard Coatings
Films
Inks
Paper & Film Release
Adhesives
Others
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