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Allied Market Research

Silicone Coatings Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 179 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Silicone coatings are synthetic compounds that are majorly used for protective and preservative purposes. Silicone is a polymer that is generally colorless having oil or rubber-like consistency. This coating has high thermal & chemical stability, low toxicity, and water repellant properties. Therefore, silicone coatings are widely used in paints and coatings to improve the durability of paints. It also offers resistance from scratch and different corrosive chemicals to the surface on which it is applied. Attributed to these superior properties, silicone coatings are extensively used in different end-user industries, including automobile, construction, electrical, and electronics.

Market scope and structure analysis :

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast units

Value (USD)

Segments covered

Type, Technology, End-use Industry, and Region

Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

Companies covered

BASF SE, Evonik Industries AG,KIKUSUI, Momentive, Dampney Company, Wacker Chemie AG, THE GRIFF NETWORK, CHT UK Bridgwater Ltd., KM COATINGS, Henry Company, American WeatherStar TRUE WATERPROOFING POWER, Shin-Etsu Chemical Co. Ltd., and Karnak

 

COVID-19 scenarioanalysis:

The outbreak of the COVID-19 pandemic has severely affected the global silicone coatings market.

Since the advent of the global pandemic, the construction sector has been impacted drastically as most of the projects came to a halt due to lack of workforce. As a result, the demand for silicone coatings decreased in the construction industry.

Moreover, due to the global economic slowdown caused by the pandemic, demand for automobiles as well as electronic gadgets decreased steeply across the world. This has caused a significant reduction of usage of silicone coatings in the automobile and electronics industries, thereby affecting the market.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

One of the major contributing factors responsible for the growth of the silicone coating market is its extensive use in the construction sector. Silicone coatings are used in buildings and structures to protect them from extreme weather conditions. These coatings also provide waterproofing solutions and resistance against UV rays to buildings, thus the product is gaining popularity in the market. Moreover, silicone coatings also have a wide range of applications in electronics industries. These coatings are used in different gadgets and electrical appliances to protect them against dust and moisture. On the other hand, silicone coatings are also used in the automobile sector and even in the marine industry to protect the body of the vehicles and naval vessels from corrosion. A wide range of applications of silicone coatings is expected to drive the demand of these compounds in the market. For instance, KIKUSUIin Japan collaborated with BASF in 2019 to develop more efficient water-based silicone coatings for its application in the construction sector. Such developments of new products are likely to boost the silicone coatings market over the forecast period. However, the high production cost of silicone coatings and fluctuating prices of raw materials might hamper the growth of the market. Nonetheless, advantages related to silicone coatings and growing innovations done by several major companies, including Duro-Last Inc. are expected to boost the market in near future.

The North America region accounts for a significant fraction of the global silicone coatings market due to the high demand for silicone coatings in different end-user industries in the region such as automotive, construction, and others. The market in the Asia Pacific region is also expected to witness lucrative growth, owing to increasing investments for infrastructure development in emerging economies such as India and China.

Key segments covered:

Segments

Sub-segments

Type

•             Silicone Additives

•             Silicone Polymers

•             100% Silicone

•             Silicone Water Repellents

Technology

•             Solvent-based

•             Solventless

•             Water-based

•             Powder-based

End-Use Industry

•             Construction

•             Automotive

•             Electrical & Electronics

•             Paints & Coatings

•             Marine

•             Others

Key benefits of the report:

  • This study presents the analytical depiction of the global silicone coatingsmarket along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global silicone coatings market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global silicone coatings market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the silicone coatings market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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