The global silicone coating market is anticipated to reach USD 6.81 billion by 2025, according to a new report by Grand View Research, Inc. Silicone coatings reduce the loss of heat in various equipment along with providing resistance from water, heat, moisture, and dust, thus improving their performance and reducing the overall maintenance cost.
Advancements in technology and manufacturing capabilities are expected to increase refined offerings for the industrial sector in the coming years. Manufacturing industries are using different types of high-performance equipment, which operate at severe temperatures. Silicone coatings provide excellent thermal, electromechanical and anti-corrosive properties that enable companies to maintain the compactness of a product with improved performance.
Along with wide applications in aircraft manufacturing industry, silicone coating is also used significantly in defense electronics equipment owing to its characteristics of providing high electrical & thermal resistance along with significant strength and protection from corrosion, moisture, dust and water. Countries are spending heavily towards arms, electronics, and defense related equipment to strengthen defense operations. In 2016, the U.S. defense budget was USD 611 billion and accounted for 36% of the global defense spending. Rise in global defense spending is anticipated to propel demand for this product in coming years.
Restructuring initiatives, acquisitions, cost-cutting programs, portfolio pruning and development in emerging economies will propel revenues and operating profit for consumer goods manufacturing companies. Products such as mobile phones, computers, textile, furniture and household appliances are attracting huge demand worldwide which is anticipated to drive this market.
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Further key findings from the report suggest:
The global silicone coating market was valued at USD 4.07 billion in 2016 and is expected to grow at a CAGR of 5.9% from 2017 to 2025
Chinese silicon coating market is expected to reach a market valuation of USD 859.6 million by 2025
100% silicone product segment occupied the largest market share in 2016 on account of its excellent properties such as high tensile strength, electromechanical resistanceand high heat resistance
Water repellent coating is the fastest growing product segment owing to its applicability over various surface and applications
The consumer goods segment emerged as the largest market with a share of 30.5% in the global silicone market in 2016
Silicon coating demand from the industrial applications is expected to grow at an estimated CAGR of 6.1% from 2017 to 2025
Key players operating in the global silicon coatings market include Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, DOW Corning Corporation, and Momentive Performance Materials Inc.
Grand View Research has segmented the global silicone coating market on the basis of product, application, and region:
Silicone Coating Product Outlook (Revenue, USD Million, 2014 - 2025)
Silicone Water Repellents
Silicone Coating Application Outlook (Revenue, USD Million, 2014 - 2025)
Building & Construction
Automotive & Transportation
Silicone Coating Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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