Silicone Coating Market 2023 | Size, Growth, Share, Trends and Forecast 2028
According to the latest report by IMARC Group “Silicone Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global silicone coating market size reached US$ 6.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
Silicone coatings act as insulating barriers between adjacent surfaces of contacting materials. They are widely used in different areas of industrial processing. For instance, tire manufacturers utilize silicone-based coatings to assure quality through reliable release performance in the molding process. Moreover, as paints with silicone additives enhance the efficiency of vessels, waterproofing, and resistance to extreme conditions, they are gaining traction worldwide over antifouling paints in the shipping sector.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Revival of the construction industry represents one of the major factors catalyzing the demand for silicone coatings for extending life and enhancing the performance of buildings. Apart from this, silicone-based coatings are applied on car interiors and door panels to provide durability and resistance against aging, temperature variations, and ultraviolet (UV) exposure. In confluence with this, boosting sales of automobiles on account of rapid urbanization and increasing income levels is driving their adoption in the automotive industry across the globe.
Breakup by Product:
- Silicone Additives
- Silicone Water Repellents
- Silicone Polymers
- 100% Silicone
Breakup by Technology:
Breakup by Application:
- Building and Construction
- Consumer Goods
- Automotive and Transportation
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AFCONA Chemicals Sdn Bhd
- BASF SE
- Borchers Inc. (Milliken & Company)
- Chase Corporation
- CHT Germany GmbH
- Dow Inc.
- Evonik Industries AG
- Lakma Group
- Momentive Performance Materials Inc.
- Shin-Etsu Chemical Co. Ltd.
- Wacker Chemie AG.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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