The global silicone additives market is poised to witness significant growth during the forecast period. Growing demand for the product in manufacturing of plastics & composites for electronics, appliances, automotive component, 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 application. Moreover, they protect 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 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 have the ability to impart properties such as UV resistance, water inhibition, and flame retardancy to resins. In addition, 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 market. However, companies have been making efforts to develop new and efficient products in order 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.
On the basis of 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 the one of the major applications of the product. Growing use of plastics & composites in order to reduce 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, skin care, personal care, sun care, deodorants, and antiperspirant products.
Asia Pacific is likely to witness noteworthy growth over the forecast period due to significant development in the end-use sectors. 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, flourishing cosmetics personal care industry in the region is estimated to facilitate 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 in order 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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