Silicone Additives Market by Function (Defoamer, Rheology Modifier, Surfactants, Wetting and Dispersing Agents), Application (Plastics & Composites, Paints & Coatings, Pulp & Paper, Food & Beverage), and Region - Global Forecast to 2022
“Increasing demand for silicone additives in plastics & composites and paints & coatings applications is fueling market growth”
The silicone additives market is estimated to be USD 1.20 billion in 2017 and is expected to reach USD 1.70 billion by 2022, at a CAGR of 7.2% between 2017 and 2022. Silicone additives improve plastic processing by increasing heat stability, melting point, and lubrication, which, in turn, enable plastic manufacturers to achieve high output rates, increased efficiency, and qualitative end products. The demand for silicone additives is growing in emerging economies, such as India, China, and Brazil. Increased demand for high-quality products with improved performance is another significant factor fueling the growth of the silicone additives market. However, the silicone additives market is subjected to stringent regulations, especially in the European and North American regions.
“Paints & coatings is the fastest-growing application segment of the silicone additives market”
Based on application, the paints & coatings segment is projected to grow at the highest CAGR from 2017 to 2022. Silicone additives are the most widely used type of additive in coatings. These additives help reduce the surface tension of liquid coatings and provide protection to substrates without increasing the cost of the overall formulation. Thus, the increasing demand for additives such as defoamers, surfactants, and rheology modifiers is expected to drive the growth of the silicone additives market in paints & coatings application.
“Rising demand for silicone additives in Asia Pacific is driving the growth of the silicone additives market”
The silicone additives market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the easy availability of raw materials used for manufacturing silicone additives. The expansion of the plastic industry in Asia Pacific countries provides lucrative growth opportunities to manufacturers of silicone additives. The rising demand for high-quality coating products in end-use industries is contributing to the growth of the silicone additives market. Key manufacturers of silicone additives are focused on expanding their base in the Asia Pacific region to increase their market share and enhance profit margins.
The breakdown of primary interviews is given below.
• By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
• By Designation: C-Level Executives - 54%, Directors - 31%, and Others - 15%
• By Region: North America - 23%, Europe - 31%, Asia Pacific - 38%, South America – 5%, and Middle East & Africa – 3%
The report provides company profiles and details of competitive strategies adopted by key market players, such as Dow Corning (US), Evonik (Germany), Shin-Etsu (Japan), Momentive Performance Materials (US), Elkem (Norway), and BYK Additives (Germany).
The silicone additives market has been segmented on the basis of function, application, and region. The report covers the silicone additives market, in terms of value and volume, and forecasts its market size till 2022. It also provides company profiles and details of competitive strategies adopted by key players operating in the silicone additives market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. The report segments the silicone additives market comprehensively and provides the closest approximations of the revenue for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, opportunities, and challenges.
3. The report helps stakeholders understand their competitors and gain additional insights into the business. The competitive landscape section includes expansions, new product launches, partnerships & collaborations, and mergers & acquisitions.