Overview and Scope
Silicone resins are inorganic polymers capable of being molded into fixed shapes, sheets, or fibers, such as covering layers over metal surfaces to prevent corrosion. Silicone resins are used predominantly in the production of heat-resistant paint, coil coatings, and mixed resin systems, due to their flexibility and heat-resistant property.
Sizing and Forecast
The silicone resins market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growing construction and infrastructure development, expansion of the electronics industry, automotive sector growth, rising demand for high-performance coatings, development of high-performance rubbers, increased application in healthcare and medical devices, utility in solar panels and photovoltaics, focus on fire safety and flame retardancy..
The silicone resins market size is expected to see strong growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to proliferation of electric vehicles, emergence of advanced materials in aerospace, growing demand for green building materials, advancements in electronic devices, expansion of renewable energy, focus on lightweighting in automotive sector.. Major trends in the forecast period include silicone resins in 3d printing, silicone resins in personal care, silicone resins for led encapsulation, collaborations and partnerships, silicone resins in aerospace applications, stringent regulatory compliance..
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Segmentation & Regional Insights
The silicone resins market covered in this report is segmented –
1) By Type: Methyl Silicone Resins, Methylphenyl Silicone Resins, Other Types
2) By Function: Binding Agents, Impregnating Agents, Hydrophobic Agents, Release Agents, Modifiers
3) By Application: Paints And Coatings, Adhesives And Sealants, Elastomers, Other Applications
4) By End User: Automotive And Transportation, Building And Construction, Electrical And Electronics, Healthcare, Industrial, Other End Users
Asia-Pacific was the largest region in the silicon resins market in 2023. North America was the second largest region in the silicon resins market. The regions covered in the silicone resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in the number of projects related to construction activities is expected to propel the silicone resins market. Due to the quick industrialization and urbanization, there has been an increase in construction activities. Construction materials like silicone resin are in high demand due to these construction activities. In architecture and construction, silicone resins hold important structural components in connections for expansion, building, connection, and movement. For instance, according to a report released in June 2021 by Statistics Canada’s national statistical office, investments in building development climbed to $19,273 million in 2020 from $14,294 million in the previous year. Therefore, increasing construction activities will drive the silicone resins market.
Key Industry Players
Major companies operating in the silicone resins market report are Wacker Chemie AG, Dow Corning Limited, Shin-Etsu Chemical Corporation Limited, Evonik Tego Chemie GmbH, Bluestar Silicones Co. Ltd., Kaneka Corporation, PCC SE, Kanto Chemical Co. Inc., Primasil Silicones Limited, Alchemie Ltd., KCC Corporation, Innospec Inc., Iota Silicone Oil (Anhui) Co. Ltd., Genesee Polymers Corporation, Supreme Silicones India Pvt. Ltd., Momentive Performance Materials Inc., Elkem Silicones AS, Siltech Corporation, ICM Products Inc., BRB International BV, Reiss Manufacturing Company Inc., Siltech LLC, Silteq Limited, Gelest Incorporated, Jiangsu Hongda New Material Co. Ltd., Guangzhou Tinci Materials Technology Co. Ltd., Zhejiang Xinan Chemical Industrial Group Co. Ltd., Shandong Dayi Chemical Co. Ltd., Hubei Xinsihai Chemical Engineering Co. Ltd., Jiangsu Maysta Chemical Co. Ltd.
The silicone resins market report table of contents includes:
1. Executive Summary
2. Silicone Resins Market Characteristics
3. Silicone Resins Market Trends And Strategies
4. Silicone Resins Market – Macro Economic Scenario
5. Global Silicone Resins Market Size and Growth
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31. Global Silicone Resins Market Competitive Benchmarking
32. Global Silicone Resins Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Silicone Resins Market
34. Silicone Resins Market Future Outlook and Potential Analysis
35. Appendix
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