“Resistance against corrosion & chemicals, safe coating, and easy-to-use are major drivers for the silicone coatings market”
The global silicone coatings market size is estimated to reach USD 6.60 billion by 2021, registering a CAGR of 6.90% between 2016 and 2021. Their ability to corrosion resistance, performance properties, safe coating in every application is fueling the overall demand of silicone coatings in the next five years.
“Construction, the fastest-growing application for silicone coatings”
Globally, construction is the fastest-growing application of silicone coatings, in terms of volume. Silicone coatings help protect, strengthen, and provide aesthetic features to buildings and architectural monuments. The advancement and innovation in infrastructure technologies and development of the construction industry are expected to increase significantly in the coming years. The key drivers are the increasing disposable income, changing consumer lifestyles, increased use of silicone coatings products, and growing consumer goods industries in countries such as China, India, Japan, the U.S., and Germany.
“Rising demand in Asia-Pacific is the major driver of silicone coatings market“
Asia-Pacific is the fastest-growing market of silicone coatings, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, increasing demand from end-use industries, and a global shift in production capacity from the developed markets to the emerging markets are major factors leading to the growth of the silicone coatings market in this region.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted. The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 46%, Tier 2 – 27%, and Others – 27%
- By Designation - C level – 36%, D level – 18%, and Others – 46%
- By Region - North America – 37%, Europe – 36%, Asia-Pacific – 18%, and RoW – 9%
The key companies profiled in this market research report are Wacker Chemie AG (Germany), Momentive Performance Material. Inc., (U.S.), Dow Corning Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), and KCC Silicone (South Korea).
The report will help market leaders/new entrants in the following ways:
- This report segments the silicone coatings market comprehensively and provides the closest approximations of the market sizes for the overall market and the sub segments across different verticals and regions.
- The report will help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand the major competitors and gain additional insights to improve their position in the business. The competitive landscape section includes new product developments, investments, partnerships, and mergers & acquisitions.