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Currently valued at US$ 6.64 billion, the silicone coatings industry is anticipated to grow to US$ 11.8 billion by the end of 2032. Sales of silicone coatings are anticipated to increase significantly between 2022 and 2032, at a CAGR of 6%. Through 2032, the silicone coating suppliers market in Germany is projected to grow at a CAGR of 6.8% and reach a market size of US$ 419.3 million.
Trade associations, credible news websites, government records, business titans, and other sources were consulted to compile the analysis's data. The analysis focuses on the top Silicone Coatings market competitors and examines their market shares, market expansion, yearly revenue, and other aspects.
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Which Application Should Silicone Coating Manufacturers Focus On?
It is expected that during the foreseeable timeframe, global construction activity would continue to rise significantly. As more government investments are made and new construction projects are undertaken, there will be an increase in the demand for building supplies like tiles and mortar.
Silicone coatings are likely to expand in the next years since they are crucial to the building industry. The market for white silicone roof coatings, cool roof coatings, silicone roof waterproofing coatings, and silicone RV roof coatings are expected to be primarily driven by the building application sector.
The construction sector is anticipated to create a net value of US$ 5.21 billion by 2032 and to expand at a CAGR of 6.6% over that period.
Competitive Landscape:
Key silicone coating manufacturers are focusing on expanding their product portfolio by launching new products to increase their revenue generation capacity on a global scale.
In December 2021 , Evonik , a German specialty chemical manufacturer, announced the launch of its new silicone coating. The new TEGO RC 1442 silicone release coating can be used for several applications such as tapes, adhesives, graphic arts, industrial release liners, etc.
Key Companies Profiled
Wacker Chemie AG Shin-Etsu Chemical Co. Ltd Momentive Milliken & Company HumiSeal CHT UK Bridgwater Ltd Dow Elkem Silicones Evonik Industries AG KCC Silicone
Regional Analysis
Currently holding a commanding 32.3% of the market, the North American silicone coatings sector is anticipated to reach an estimated valuation of US$3.95 billion by the end of 2032. The demand for silicone coatings in this region is primarily driven by high industrial investment levels and an increase in the use of silicone coatings across a variety of industry verticals.
Asia Pacific is expected to have the greatest CAGR of all the regions throughout the projection period for silicone coating sales growth, at 6.8%. This region's rapid industrialization and urbanisation are anticipated to drive market expansion for silicone coatings.
Other variables that favourably affect the demand for silicone coatings in this region include rising disposable income, rising sales of consumer electronics, and cheap manufacturing costs. Due to the region's thriving automobile manufacturing sector, silicone coatings for metals, silicone elastomeric coatings, and flexible silicone coatings are projected to be in high demand.
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Key Highlights
The study analyses the state of the latest worldwide Silicone Coatings market. The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector. The paper examines in great detail how the world market for Silicone Coatings is changing. The research examines how the worldwide Silicone Coatings market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organisation. The report identifies prospects as well as the main obstacles you may face in the near future.
Silicone Coatings Market: Segmentation
Silicone Coatings Market by Type: Silicone Coating Additives Silicone Coating Polymers 100% Silicone Silicone Water Repellents Other Types
Silicone Coatings Market by Application: Construction Consumer Goods Industrial Other Applications
Silicone Coatings Market by Region: North America Latin America Europe APAC MEA
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The key business strategies discussed in this market research revolve around-
How key players in the Silicone Coatings market are maintaining their competitive advantage in the wake of globalization? What changing dynamics in the Silicone Coatings industry specify about the future opportunities for manufacturers? How Covid-19 pandemic affected sales in the Silicone Coatings market and what strategies are expected to recover from its impact? What business tactics are gaining attention and influencing Silicone Coatings market rivalry? What is the current Silicone Coatings market share?
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