Market
Overview
Silicone
additives are used in various industries such as plastic & composites,
paints & coating and textile industries due to their superior properties
such as low surface tension, chemical inertness, and enhanced softness. It is
majorly used in plastics & composites industry owing to chemical
resistance, mold release, and wear resistance. Increasing demand from the
automotive, aerospace & defense and marine industries is driving the market
growth due to growing use of lightweight components to impart efficiency.
Growing use in the furniture and packaging industry is likely to fuel the
product demand.
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Silicone
additives usage is increasing in paints & coatings industry due to various
properties such as leveling and dispersing properties. Since they offer
high-temperature resistance, ultraviolet resistance, durability, and adhesion,
construction, and architectural industry is the major end user of the products.
These additives perform various functions such as anti-foaming, rheology
modifiers, leveling, and lubricating agents. Due to its anti-foaming property,
it is preferred in various industries including paints & coatings, food
& beverages, and paper industry. Silicone additives are being increasingly
used in the automotive industry as lubricant agents for polishing and dressing.
Competitive
Analysis
Some
of the prominent players in the global silicone additives market are DowDuPont
(U.S.), Evonik Industries AG (Germany), Shin-Etsu Chemical Co., Ltd (Japan),
Elkem (Norway), Momentive (U.S.), KCC Corporation (South Korea), Wacker Chemie
AG (Germany), BYK additives (Germany), Siltech Corporation (Canada), and BRB
International (the Netherlands).
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Market
Segmentation
The
global silicone additives market is segmented into a function, applications,
and region.
On
the basis of the function, the market is sub-segmented into defoamers, rheology
modifiers, wetting & dispersing agent, a lubricating agent, and others.
Based
on the end-use industry, the global silicone additives market is segmented into
plastic & composites, paints & coatings, construction, food &
beverages, paper &pulp, personal & home care, chemical and oil &
gas, agriculture, and others.
Geographically,
the market is divided into five key regions namely, Asia Pacific, North
America, Europe, Latin America, and the Middle East & Africa.
Regional
Analysis
The
Asia Pacific region is dominating the global silicone additives market on account of growing
industrial base in the developing economies such as India, China, Thailand, and
South Korea. Furthermore, the automobile industry is witness a rapid growth due
to rising vehicle sale by the middle-income group people in India and China.
Increasing use in the textile industry coupled with the prevalence of good
demographic and supportive government policies is fuelling the product demand.
North
American and European regions are witnessing a significant growth in the global
silicone additives market. Increasing use in automotive, defense, and aerospace
industry due to its lightweight.is propelling the market growth in this region.
Furthermore, regulations laid down for environment protection from hazardous
substances is stimulating the demand for fuel-efficient products.
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