Global Silicone Coating Market was valued at USD xx Mn in 2019 and is expected to reach USD xx Mn by 2027 at a CAGR of 5.8% over the forecast period 2020-2027.
Global Silicone Coating Market
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The report covers an in-depth analysis of COVID 19 pandemic impact on Global Silicone Coating Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Silicone Coating Market overview
Growing demand for consumer products and construction coatings is likely to propel growth in the silicon coating market. Silicon resin is a combination of silicone resin and pigments. It is majorly used for the coating of aluminized steel pipes. Silicon coating is resistant to temperature, good insulations for heat, electrical insulation apparatus. Silicon coating is majorly used in coating and construction industries as it is excellent resistance to weathering, aesthetics, and good for adhesion to the steel surface. It is expected that the rising use of environmentally friendly and energy-saving products would further boost demand development. Major companies are taking keen inclination towards silicon coating products and hosting various promotional activities to attract the consumers and this has made a positive impact on the silicon coating market.
Global Silicone Coating Market Dynamics
The increasing applications of silicon coating in various sectors such as in automotive, building & construction, the defense is expected to fuel the market. The manufacturers are pushing themselves to improve the quality of their existing product and expansion of their business footprints globally. Major companies are carrying out research and development activities to developed new products. Also, focusing on promotional activities and providing various E-commerce platforms to attract consumers to build a strong sales footprint globally and this has made a positive impact on the global market. Besides, manufacturer inclination’s towards backward integrations of the value chain and increasing investment by the number of key players is to expect robust growth in the silicon coating market. These value chain components have built a strong foothold for companies and helped in manufacturing of product portfolio from gaining cost advantages to transforming raw material into finished goods.
Thanks to its pertinence across various and applications surfaces, the silicone water repellent coating is the fastest growing product category. Trapped moisture adversely affects longevity in building facades behind or inside the substrates, increases the degrades living comfort and cost of heating and hence the emission of carbon dioxide drives the market for silicone coating demand.
However, consumer’s awareness of these products may restrain the silicon coating market over the years. Besides, government stringent policies towards toxic chemicals and environmental concerns are also a major concern that may hamper the market.
However, consumer’s awareness of these products may restrain the silicon coating market over the increasing number of manufacturers in the silicon coating industry and major market players are striving to offer good premium range quality of products with the efficient cost for various applications are driving the silicone coating market. Also, technological improvements such as the state-of-art facility for innovations and the new production line have made a positive impact on the silicon coating market. Companies are focusing on the availability of their product through inbound logistics and after-sales services are expected to become the new trends in the silicon market. These variables assist manufacturers to increase the product’s consistency & expense, which also provides the maximum time value and ensures optimum efficiency of the product. Besides, government stringent policies towards toxic chemicals and environmental concerns are also a major concern that may hamper the market. Owing to increasing market demand, silicon coating manufacturers are concentrating on expanding production infrastructure and capacity. Besides, the key players depend on alliances and acquisitions to ensure an uninterrupted supply of raw materials. To develop a broad product portfolio to improve market position, joint ventures and acquisitions are an important part of the industry; thus, key players are adopting these strategies and this has created many opportunities for the silicon coating market.
Global Silicone Coating Market: Market Segmentation
Global Silicone Coating Market is segmented by Application (Construction, Paper & Film Release & Transportation, Consumer Goods, Industrial, Paper & Film Release and Other (medical, aerospace, marine & defense)), by Technology (Solvent-based, Solventless, Water-Based, Powder-based), by Composition Type (Silicone Additives, Silicone Polymers, 100% Silicone, Silicone Water Repellents) by Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).
Global Silicone Coating Market: Regional Analysis