Silicone Coatings Market Size

Global Silicone Coating Market Overview

Silicone Coating Market Size was valued at USD 5.40 Billion in 2023. The Silicone Coating Market industry is projected to grow from USD 5.76 Billion in 2024 to USD 9.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.75% during the forecast period (2024 - 2032). Rapid growth in the automotive industry, as well as increased demand from the building and construction industries is the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Silicone Coating Market Trends

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  Growing Demand from the Building and Construction Industry fuels market growth

  
  

Building structures are shielded from the elements by the silicone coating, which adds another layer of defence. It is anticipated that the market would grow even more as silicone coating is used to waterproof roofs and improve UV resistance for longer durability. The market is expanding as a result of the rising construction activity worldwide.

For instance, the US Census Bureau reports that the number of privately owned housing units in the US was 15,94,000 in June 2021 and 16,35,000 in July 2021, a rise of 2.6%. Additionally, the residential and non-residential building and construction activities in the German area increased by 4.3% from 222,678 in 2019 to 232,208 in 2020, according to the German Federal Statistics Office. So, the market's growth is growing as building and construction activity increase ly.

Silicone coatings are used in the automotive industry for interiors and exteriors due to its numerous advantages such as resistance to heat above 200°C, moisture resistance, flexibility and softness, and more. The increasing automobile industry is driving up demand for silicone coating. According to the Organization Internationale des Constructeurs d'Automobiles (OICA), total motor vehicle manufacturing in North America in 2020 was 5,307,516 and in 2021 (until November 2021) was 6,999,932, a 32% increase.

Furthermore, total motor vehicle production in Europe in 2020 was 6,952,421 and in 2021 (until November 2021) was 8,807,069, a 27% increase. In addition, total motor vehicle manufacturing in North America was 17,818,598 in 2020 and 22,685,914 in 2021 (until November 2021), a 27% increase. Thus, it is expected that the rise of the automotive industry will drive market growth throughout the forecast period.

The increasing need for silicone coatings in the electronics industry is another factor driving the growth of the Silicone Coating Market. Because of their outstanding electrical insulating capabilities, thermal stability, and flexibility, silicone coatings are utilized in a wide range of electronic applications, including printed circuit boards, sensors, and connections.

As an example, Shin-Etsu Chemical, a prominent silicone coatings supplier, provides a variety of silicone-based solutions for the electronics sector, such as conformal coatings and encapsulants. These solutions are intended to provide improved resistance to moisture, dust, and other impurities, hence improving the reliability and performance of electronic components.

Silicone Coating Market Segment Insights

Silicone Coating Type Insights

The Silicone Coating Market segmentation, based on type includes Silicone Additives, Silicone Polymers, 100% Silicone, Silicone Water Repellents. In 2022, 100% silicone emerged as the market's most important product segment. Its qualities such as lightweight, high tensile strength, clarity for transparency, and electromechanical resistance make it suitable for a variety of high heat applications such as exhaust stacks, furnaces, wood - burning stoves, lighting fixtures, and barbeque grills. Aside from heat resistant coatings, it is also utilized for abrasion resistance and food contact release coatings.

Silicone Coating Technology Insights

The Silicone Coating Market segmentation, based on Technology, includes Solvent-Based, Solvent-Less, Water-Based, Powder-Based. In 2022, the water-based segment held the greatest share of the silicone coating market. The water-based formulation provides excellent coating qualities, durability, and resilience to high temperatures and corrosive conditions. Silicone water repellent formulations are used in silicone coatings because they are flexible and limit moisture and solar radiation absorption, resulting in improved environmental resilience and less solvent emissions.

Figure1:  Silicone Coating Market, by Technology, 2022&2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Silicone Coating End-Use Industry Insights

The Silicone Coating Market segmentation, based on end-use industry, includes Construction, Electronics, Automotive, Consumer Goods, Textile, and Marine. The consumer goods category is predicted to account for a consistent revenue share of the silicone coating market. Consumers' increasing spending power is driving up demand for consumer products, which is likely to drive up demand for silicone coatings even more. Silicone coatings are used in a wide variety of consumer goods items and applications, ranging from airbags to technical textiles and leather goods. Silicone's excellent gloss retention feature makes it a perfect choice for covering jewellery and household items. The growing demand for smart and advanced consumer electronics is increasing the use of silicone conformal coatings to protect electronic components and PCBs from harm.

Silicone Coating Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Silicone Coating Market area will dominate this market, because of severe government requirements, there is an increasing demand for eco-friendly and energy-efficient materials with low VOC content across various end-use industries, which is boosting demand for silicone coatings.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2:  SILICONE COATING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Silicone Coating Market accounts for the second-largest market share due to growing automobile production and investments in defence and aerospace are expected to boost demand for this commodity ly. Further, the German Silicone Coating Market held the largest market share, and the UK Silicone Coating Market was the fastest growing market in the European region

The Asia-Pacific Silicone Coating Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of the presence of a significant manufacturing base; demand for silicone coatings is expected to rise. Moreover, China’s Silicone Coating Market held the largest market share, and the Indian Silicone Coating Market was the fastest growing market in the Asia-Pacific region.

Silicone Coating Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Silicone Coating Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Silicone Coatingindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Silicone Coating industry to benefit clients and increase the market sector. In recent years, the Silicone Coating industry has offered some of the most significant advantages to medicine. Major players in the Silicone Coating Market, including CHT UK Bridgwater Ltd (UK), KM COATINGS (US), Henry Company (US), American WeatherStar TRUE WATERPROOFING POWER (US), Shin-Etsu Chemical Co., Ltd (Japan), and Karnak (US) and others, are attempting to increase market demand by investing in research and development operations.

Elkem is a manufacturer of silicones, silicon, foundry alloys, carbon and microsilica, and other materials. Elkem was formed in 1904 and now employs over 7,000 people across 30 production facilities worldwide. Elkem's operating profit is NOK 33.7 billion. In 2021, Elkem will be accountable for 2.52 million tonnes of scope 1 emissions. Elkem is traded on the Oslo Stock Exchange under the ticker symbol ELK. In 2020, Elkem Silicones has introduced BluesilTM TCS 7560, a novel silicone-based textile coating. This coating is intended to give fabrics and other textiles with exceptional water repellency and stain resistance.

Shin-Etsu Chemical Co., Ltd. is Japan's largest chemical corporation, ranking ninth in the Forbes 2000 for the chemical sector. Shin-Etsu dominates the polyvinyl chloride, semiconductor silicon, and photomask substrate markets. The name "Shin-Etsu" is derived from the Shin'etsu Region, where the firm founded the first chemical plant as Shin-Etsu Nitrogen Fertilizer in 1926, while the corporation is now based in Tokyo and has manufacturing facilities in 14 countries across the world.   In 2021, Shin-Etsu Chemical introduced KBE-903, a novel silicone-based coating for the aerospace industry. This coating is intended to give airplane components improved heat resistance and anti-icing qualities.

Key Companies in the Silicone Coating market include

• Wacker Chemie AG


• Shin-Etsu Chemical Co. Ltd


• Momentive


• Milliken & Company


• HumiSeal


• CHT UK Bridgwater Ltd


• Dow Elkem Silicones


• Evonik Industries AG


• KCC Silicone

Silicone Coating Industry Developments

March 2020, Wacker Chemie AG has introduced SILRES BS 6922, a new silicone-based coating for the building industry. This coating is intended for concrete and masonry surfaces to give improved water repellency and UV resistance.

 February 2021, DOWSILTM 2405 is a new silicone-based coating for automotive applications from Dow. This coating is intended to offer engine components and other vehicle parts with outstanding adherence and durability.

June 2020, Momentive has introduced TIA-1250, a new silicone-based coating for the electronics industry. This coating is intended to give good electrical insulation as well as thermal stability to printed circuit boards and other electronic components.

Silicone Coating Market Segmentation

Silicone Coating Market By Type Outlook

• Silicone Additives


• Silicone Polymers


• 100% Silicone


• Silicone Water Repellents

Silicone Coating Market By Technology Outlook

• Solvent-Based


• Solvent-Less


• Water-Based


• Powder-Based

Silicone Coating Market By End-Use Industry Outlook

• Construction


• Electronics


• Automotive


• Consumer Goods


• Textile


• Marine

Silicone Coating Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America