Silicone resins is a type of silicone material that is formed by cage-like oligosiloxanes and branched with the formula RnSiXmOy. The Silicone resins produce films which has properties include heat resistance, dielectric properties and weatherability. It is used in end use industry include paints and coatings, construction where Silicone resins is used to improve safety, reliability, and durability.
- 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.
Silicone Resins Market Key Players
Key players operating in the global silicone resins market include, Wacker Chemie AGThe Dow Chemical Company, Shin-etsu Chemical Co. Ltd., Evonik Tego Chemie, GmbH, Bluestar Silicones, Kaneka Corporations, Momentive performance materials holdings Inc., Adhis S.A.S, BRB International BV, and Siltech Corportion.
On the basis of product type the global silicone resins market is segmented into:
- Pure Silicone
- Polyester Resin
- Alkyd Resins
- Epoxy Resins
- Others (Polyacrylate Resins and Waterborne Silicone)
On the basis of end-use industry, the global silicone resins market is segmented into:
- Building & Construction
- Paints and Coating
- Personal Care
- Electrical and Electronics
- Others (Healthcare, etc.)
On the basis of region, the global silicone resins market is segmented into:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East
- Rest of Middle East
- Northern Africa
- Central Africa
- South Africa
- In October 2019, ALP Lighting Components expanded its injection molding facility at Niles, U.S. for optical silicone injection molding. Parts made from optical silicone are less susceptible to UV degradation and also provides high heat and impact resistance.
- In September 2019, Sinicon Plastics Inc, a U.S. based silicone products manufacturer acquired Advance Machine & Tool Inc. for expansion of its metal and plastic machining capibilities.
- In September 2019, U.S. based silicone products manufacturer - Specialty Manufacturing, Inc. (SMI) expanded its silicone business unit to meet the increasing demand for silicon products from its customers.
- In September 2019, Petronas Chemical Group acquired the Dutch silicone manufacturer – Da Vinci Group allowing Petronas to diversify and expand its existing product portfolio. Along with silicones, the Da Vinci Group manufactures lube oil additives and other specialty chemicals.