SILICONE RESINS MARKET ANALYSIS

Silicone Resins Market, by Product Type (Pure Silicone, Polyester Resin, Methyl-Silicone, Methyl/Phenyl-Silicone, Alkyd Resins, Epoxy Resins, and Others (Polyacrylate Resins and Waterborne Silicone)), by Application (Building & Construction, Chemical, Paint and Coating, Personal Care, Electrical and Electronics, Pharmaceutical, Automotive and Others (Healthcare, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Outlook

Among end-use industry, paint and coating segment held a significant market share in the global silicone resins market in 2017, owing to increasing demand for Silicone resins in coating industry. Physical properties of silicon resin such as heat resistance, flexibility, anti-corrosion, and electrical insulation propel demand for silicon resins in the paint and coating industry. For instance, according to the Coherent Market Insights’ analysis, the global paints and coatings market was valued at US$ 137.25 billion and 46,686.09 kilo tons in 2016, and is expected to expand at a CAGR of 5.6% in terms of revenue and 4.8% in terms of volume during 2017 – 2025.
North America held a significant position in the global silicone resins market in 2017 and this trend is expected to continue over the forecast period due to demand of silicon resin from end-use industry. In North America, demand for Silicone resins increased owing to benefits offered by silicone resins include heat resistance, thermal stability, increased weathering, electrical insulation binder driving the Silicone resins market in North America. Furthermore, key players are focusing on capacity expansion to build business in Silicone resins market at global level. For instance, In September 2018, The Dow Chemical Company announced the construction of new silicon resin plant to expand its global capacity and meet the increasing demand of the silicone in end use industries worldwide.