PUBLISHER: Allied Market Research | PRODUCT CODE: 1179712
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179712
The silicone resins market attained $0.9 billion in 2021 and is projected to reach $1.5 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.
Silicone resins are a type of silicone material composed of cage-like oligosiloxanes and branching RnSiXmOy. They are used to manufacture films with weatherability, dielectric characteristics, and heat resistance. Silicone resins are utilized to improve dependability, longevity, and safety in a variety of end-use industries, such as paints, coatings, and construction.
Silicone resins provide a number of advantages, including superior performance and resistance to temperature, weather, chemicals, and heat. Their superior thermal stability makes them suitable for use in paints, varnishes, and other impregnating substances. In addition, they are utilized as release force promoters in release coatings, as water repellents in building and construction, and as adhesion promoters in sealing and bonding.
Extensive use of silicone-based coatings in the industry ensures quality through consistent release performance during the molding process. In the shipping industry, paints containing silicone compounds improve vessel efficiency (faster speed and lower fuel consumption) and eliminate the need for conventional antifouling paints containing hazardous substances. This stimulates the market for silicon resins. Expansion of the infrastructure, construction, and automotive industries; and the widespread implementation of innovative coating technologies are anticipated to generate attractive market opportunities during the forecast period,. The expansion of economic activity in Latin America and Asia-Pacific is expected to provide enormous opportunities for silicone resins during the forecast period. These regions are currently establishing stringent volatile organic compounds (VOC) emission regulations. Latin American and Asia-Pacific consumers are more conscious of the environmental impact of their purchases.
However, governments in developing countries have enacted rigorous regulations to reduce the impact of trash and its toxic byproducts on the environment, flora, and fauna. The European regulatory agency Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) ) demands the registration of manufacturers producing silicone-based end goods in accordance with specified requirements. CLP's (Classification, Labeling, and Packaging) "Regulation (EC) No 1272/2008 of the European Parliament and of the Council of December 16, 2008, on the labeling and packaging of substances and mixtures, amending and repealing Directives 67/548/EEC and 1999/45/EC, and amending Regulation (EC) No 1907/2006" classifies the safety requirements of chemical substances along with their legal implications. The use of any chemical substance, including silicone resins, must conform to the standards, which are closely connected to REACH. This can hinder the global demand for silicone resins.
The global silicone resins market is segmented into type, end-use industry, and region. Depending on the type, the market is classified into methyl silicone resins, methyl phenyl silicone resins, and others. On the basis of end-use industry, it is categorized into building & construction, electrical & electronics, paints & coatings, adhesives & sealants, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global silicone resins market BRB International, Dow Inc., Elkay Chemicals Private Limited, Elkem ASA, Evonik Industries AG, Genesee Polymers Corporation, Kaneka Corporation, Momentive, Primasil, Savitri Chemicals, Shin-Etsu Chemical Co., Ltd, Siltech Corporation, Sinicon Plastics Inc, Supreme Silicones India Pvt Ltd, and Wacker Chemie AG. Other players operating in the market are Adhis S.A.S, Bluestar Silicones, and Alchemie Ltd.
IMPACT OF COVID-19 ON THE GLOBAL SILICONE RESINS MARKET
Key Benefits For Stakeholders
By Type
By End-Use Industry
By Region