The Business Research Company’s Silicone Resins Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Silicone Resins Global Market Report 2023 evaluates silicone resins market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global silicon resins market size is expected to grow from $3.81 billion in 2022 to $4.08 billion in 2023 at a compound annual growth rate (CAGR) of 6.90%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The silicon resins market is expected to reach $4.98 billion in 2027 at a CAGR of 5.15%.
An increase in the number of projects related to construction activities is expected to propel the silicon resins market. Due to the quick industrialization and urbanization, there has been an increase in construction activities. Construction materials like silicon 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 silicon resins market.
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The silicone resins market segments in the report are:
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
The table of contents in TBRC’s silicone resins market report includes:
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