The global silicone additives market is poised to witness significant growth during the forecast period. Growing demand for the product in the manufacturing of plastics & composites for electronics, appliances, automotive components, medical equipment, among others is likely to propel the market over the forecast period.
Beneficial properties of silicone additives such as high slip, mar resistance, and leveling & foam control are expected to fuel its utilization in paints, coatings, and ink applications. Moreover, they protect the polymer surface in devices from scratches and improves the surface finish.
Silicone masterbatches used in polyolefins, such as polyethylene and polypropylene, help in enhancing the processability of resins while maintaining their mechanical properties. The product also helps in preventing exudation on the surface of household appliances and other devices.
Exudation is a process in which the dust gets attracted to the surface of the devices due to the accumulation of organic waxes. Prevention of exudation coupled with superior slip performance of the product is estimated to propel its utilization in home appliances and medical equipment over the forecast period.
Silicone additives can impart properties such as UV resistance, water inhibition, and flame retardancy to resins. Also, they are highly suitable for optical applications due to their ability to control light diffusion. These beneficial properties of the product are anticipated to fuel their demand in end-use industries.
High raw material cost and technical difficulties due to migration, when exposed to high temperatures, are the key restraints for the Silicone additives market. However, companies have been making efforts to develop new and efficient products to cope with these technical difficulties. In November 2017, Dow developed a silicone masterbatch that provides high performance without migrating.
Surfactants, rheology modifiers, wetting & dispersing agents, defoamers, and lubricating agents are some of the common applications of silicone additives. The product is available in numerous forms including fluids, powders, oils, and emulsions. Low surface tension and high heat & chemical resistance of silicones allow them to be used as effective defoaming agents.
Based on end-use, the global silicone additives market can be segmented as paints & coatings, pulp & paper, plastics & composites, food & beverage, personal & home care, chemical & petroleum, agriculture, and others. Plastics & composites are one of the major applications of the product. The growing use of plastics & composites to reduce the weight of components used in the automotive, aerospace, and energy sector is projected to augment product demand over the forecast period.
In the paint & coating industry, the product is used to increase adherence, waterproofing, and resistance of coatings to extreme conditions. It is also increasingly being adopted in other applications, namely, airbags, textiles, leather goods, and decorative labels, which is poised to stoke the growth of the market over the coming years.
In the personal care and cosmetics sector, silicone additives are used as wetting, conditioning, and emulsifying agents. These additives provide superior texture, appearance, durability, color, and moisture resistance to personal care products. They are used in the manufacturing of cosmetics, skincare, personal care, sun care, deodorants, and antiperspirant products.
The Asia Pacific is likely to witness noteworthy growth over the forecast period due to significant development in the end-use sectors. The growing use of plastic components as a replacement of metal in various industries is expected to be a key growth stimulant for the regional market. Moreover, the flourishing cosmetics personal care industry in the region is estimated to facilitate the utilization of silicone additives in skin and hair care products.
Some of the prominent companies operating in the silicone additives market are Evonik, DowDupont, Shin Etsu, Momentive Performance Materials, Elkem, KCC Corporation, and Wacker Chemie. Expansion and new product development are among the key strategies adopted by companies to stay ahead in the market.
In July 2017, Dow Corning developed an anti-slip silicone additive with superior mar and abrasion resistance for use in waterborne wood coatings. Similarly, in November 2017, Dow Performance Silicones, a business segment of DowDupont, introduced a new silicone additive for architectural façade coatings.
In September 2017, Evonik opened a new plant for specialty silicones in Shanghai to cater to rising demand from the Asia Pacific region. This step would allow the company to meet local demand in a faster and more efficient way.
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The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.