Silicone Coatings Market
Silicone Coatings Market Analysis By Type (Additives, Polymers, 100% Silicone, Silicone Water Repellents), By Application (Construction, Consumer Goods, Industrial), By Region - Global Forecast 2022 to 2032
Silicone Coatings Market Outlook (2022-2032)
Currently, the global silicone coatings market stands at a valuation of US$ 6.64 billion and is projected to surge to US$ 11.8 billion by the end of 2032. Worldwide sales of silicone coatings are predicted to increase at a noteworthy CAGR of 6% from 2022 to 2032.
Germany is expected to be a highly lucrative market for silicone coating suppliers, projected to expand at a CAGR of 6.8% through 2032 and account for a valuation of US$ 419.3 million.
Silicone Coatings Market Size (2022)
US$ 6.64 Billion
Predicted Market Value (2032F)
US$ 11.8 Billion
Global Market Growth Rate (2022-2032)
North America Silicone Coatings Market Revenue (2022)
US$ 2.14 Billion
Key Companies Profiled
Silicone adhesives, solvent-based silicone coatings, solvent-less silicone coatings, water-based silicone coatings, and other silicone products are also anticipated to see an increase in sales across the world. Other types of silicone coatings are expected to account for a market share of 13% by the end of 2032.
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Silicone Coating Consumption Analysis (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)
Silicone coating shipments from 2017 to 2021 rose at a CAGR of 4.7% and accounted for a net worth of US$ 6.36 billion in 2021.
Silicone coating consumption is expected to rise as demand for enhanced quality products increases among consumers across the world. Increasing spending potential is also expected to favour sales of silicone coatings across the forecast period. Silicone-based powder coatings, silicone rubber coatings, silicon carbide coatings, silicone conformal coatings and other silicone-based coatings are expected to be highly popular in the global landscape through 2032.
Stringent mandates to conserve the environment in Europe have fuelled the adoption of silicone coatings in various industry verticals. Automotive manufacturers in this region are increasing their focus on sustainability and hence driving shipments of silicone coatings.
Increasing popularity of silicone coating features such as high chemical resistance, scratch resistance, and corrosion resistance have substantially driven their demand in the past few years and is expected to be a frequent trend over the years to come as well.
Urbanization has been a prominent trend across the world and this has led to a significant increase in construction activities as demand for infrastructure development bolsters. The rise in construction activities is anticipated to increase the consumption of silicone coatings.
Increasing use of silicone components in the automotive industry is also expected to favor silicone coatings market growth in the coming years. Rising sales of consumer electronics owing to increasing disposable income are also expected to drive silicone coating sales across the forecast period.
However, the high costs of silicone coatings are anticipated to have a restraining effect on overall market growth through 2032. The increasing availability of low-cost alternatives is also expected to slow down silicone coatings market growth across the forecast period.
The worldwide silicone coatings market is predicted to witness evolution at a CAGR of 6% from 2022 to 2032.
Which Factor Could Attract More Investments into the Silicone Coatings Market?
“Rising Use of Silicone Coatings for Waterproofing of Roofs in Construction Applications”
Residential as well as commercial construction activities are expected to witness a prominent rise over the coming years. Silicone water repellents have proven to be extremely hydrophobic and have safeguarded structures against moisture which could lead to major issues for any construction. The silicone water repellents segment is expected to account for a revenue total of US$ 2.16 billion by 2032.
Silicone roof coatings have gained an impressive scope of application and are widely used across the world in construction projects. As demand for infrastructure development bolsters across the world it will increase construction activities and subsequently provide new investment opportunities for silicone coating suppliers.
Which Region is at the Forefront of Silicone Coating Consumption?
“Asia Pacific Expected to Witness Fastest Rise in Silicone Coating Sales”
The North America silicone coatings industry accounts for a dominant market share of 32.3% at present and is expected to attain an estimated valuation of US$ 3.95 billion by the end of 2032. High investments in the industrial sector and increased adoption of silicone coatings in several industry verticals are prominent factors that drive silicone coating demand in this region.
Sales of silicone coatings in the Asia Pacific region are anticipated to rise at a CAGR of 6.8% which is the highest of all regions across the forecast period. Rapid urbanization and industrialization in this region are expected to spearhead silicone coatings market growth in this region.
Rising disposable income, increasing sales of consumer electronics, and low cost of manufacturing are other factors that positively influence demand for silicone coatings in this region. Silicone coatings for metals, silicone elastomeric coatings, and flexible silicone coatings are expected to see high demand in this region due to the flourishing automotive manufacturing industry.
China, India, and Japan are expected to be the most noteworthy markets in this region through 2032.
Consumption of silicone coatings in Europe is predicted to account for a net value of US$ 2.8 billion in 2032 and is expected to hold a significant market share of 23.7% in the global marketplace.
The presence of key silicone coating manufacturers in this region is anticipated to propel silicone coatings market growth. Increasing focus on sustainability in Europe has also boosted demand for silicone coatings among automotive manufacturers in this region.
Spain is expected to emerge as an important market in Europe and demand for silicone coatings in the country is projected to increase at a CAGR of 6.6%. The market currently stands at valuation of US$ 204.1 million in 2022.
Fact.MR, a market research and competitive intelligence provider has analyzed other major regions in this new silicone coatings market study to give you a complete overview of the market scenario on a global level.
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Why Should Silicone Coating Suppliers Channel their Investments towards China?
“Presence of Robust Manufacturing Industry to Provide Rewarding Opportunities”
China is known on a global scale for its highly efficient manufacturing industry and this is expected to drive demand for silicone coatings in this country. Moreover, supportive government initiatives and increasing investments in the industrial sector are projected to further bolster the silicone coatings market potential in China.
Presence of robust automotive manufacturing industry in the country will also boost sales of silicone coatings across the forecast period. Rising construction activity in the country is also expected to drive demand for silicone roof coatings.
The China silicone coatings market holds a market share of 27.8% in the APAC marketplace and is expected to attain an estimated valuation of US$ 1.08 billion by 2032.
Is India an Investment-worthy Market for Silicone Coating Manufacturers?
“Rapid Infrastructure Development to Generate Added Market Opportunities”
India is known as one of the foremost developing nations in the world and the government of the country has undertaken major initiatives to promote development. This has resulted in an increase in infrastructure development which has subsequently resulted in the rise in construction activities.
Silicone coatings are used extensively in the construction industry and rising construction activity in the country is projected to provide highly rewarding opportunities for silicone coating manufacturers and vendors over the coming years.
Sales of silicone coatings in India currently account for a revenue of US$ 453.9 million and are anticipated to increase at a CAGR of 7.5% through 2032.
What is the Outlook for the Silicone Polymers Market?
“Polymers to Lead Revenue Generation across Geographies”
Silicone coating polymers are expected to witness high demand across the forecast period as the segment is slated to rise at a CAGR of 7.1% and end up with a net valuation of US$ 3.68 billion by 2032. Rising focus on sustainability and decreasing use of plastics are major factors that could propel silicone polymers market growth throughout the forecast period.
Based on type, the silicone coatings market is segmented into silicone coating additives, silicone coating polymers, 100% silicone, silicone water repellents, and other types.
The 100% silicone segment currently accounts for a net value of US$ 1.64 billion and is expected to hold a prominent market share of 24.8% by the end of 2032.
Which Application Should Silicone Coating Manufacturers Focus On?
“Silicone Coatings Market Potential Driven by Construction Industry”
Construction activities across the world have increased substantially and are expected to rise across the forecast period as well. Increasing investments from governments and the initiation of several new construction projects will drive demand for construction products such as tiles, mortar, etc.
Silicone coatings are a crucial part of the construction industry and hence are predicted to witness an increase over the coming years. Silicone RV roof coatings, silicone coatings for the waterproofing of roofs, cool roof coatings, and white silicone roof coatings are anticipated to be driven by the construction application segment.
The construction segment is anticipated to account for a net value of US$ 5.21 billion by 2032 and is expected to expand at a CAGR of 6.6% throughout the forecast period.
On the basis of application, the market is also segmented into consumer goods, industrial, and other applications which have been discussed in detail in the research report.
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Competitive Landscape :
Key silicone coating manufacturers are focusing on expanding their product portfolio by launching new products to increase their revenue generation capacity on a global scale.
- In December 2021, Evonik, a German specialty chemical manufacturer, announced the launch of its new silicone coating. The new TEGO RC 1442 silicone release coating can be used for several applications such as tapes, adhesives, graphic arts, industrial release liners, etc.
Key Segments Covered in Silicone Coatings Industry Research
Silicone Coatings Market by Type :
- Silicone Coating Additives
- Silicone Coating Polymers
- 100% Silicone
- Silicone Water Repellents
- Other Types
Silicone Coatings Market by Application :
- Consumer Goods
- Other Applications
Silicone Coatings Market by Region :
- North America
- Latin America
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