Silicone coatings products are available in the form of different types products like silicone water repellents, silicone additives, silicone polymers, and 100% silicone.
Material with Anti-corrosive and Electromechanical Properties
Applications are categorized into industrial application, consumer goods, building and construction, automotive and transportation, and others. In 2016, consumer goods sector estimated over 30% of total market share. Silicone provides exceptional gloss retaining property, therefore utilized for coating jewelry and household appliances. In addition, growing disposable income has increased the consumers buying capabilities, which is likely to drive the segment.
The product demand in industrial applications is likely to grow at an estimated CAGR of 6.1% from 2017 to 2025. Equipment and machinery operates at high temperatures that need heat barrier coatings to perform at optimum levels. The product offers outstanding anti-corrosive, thermal, and electromechanical properties that aid in maintaining the compactness of equipment and for better performance. Rising focus on improving thermal insulation for enhancing the operating proficiency is anticipated to boost product demand from industrial applications. The product is mostly used in heavy duty press, boilers, chimney, pipes and tanks used to carry high temperature solutions.
Building and construction is a most important application segment and is expected to grow at the fastest CAGR during the forecast period (2014 to 2025). This growth can be associated with rapid infrastructure development and rising focus on green buildings along with VOC regulations, which are generating high demand for ecofriendly coatings to avoid green gas emission due to absorption. Silicon coating can act as sealant on substrate and creates a coat that offers weather resistance and electromechanical benefits. Thus, these coating are extensively used to prevent moisture absorption in building.
Market Overview
According to Grand View Research, Inc., the worldwide silicon coating market is predicted to achieve USD 6.81 billion by 2025.
Factors such as increasing coating demand from industries like building and construction and consumer goods, rising use of energy saving and biodegradable products can propel the market over the forecast period.
Some of the leading venders operating in the market include Momentive Performance Materials Inc.; Shin-Etsu Chemical Co.Ltd.; DOW Corning Corporation; Wacker Chemie AG.
In-Depth Research Report On Silicone Coating Market:
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