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Global Silicone Resins Market (2021 to 2026) - Increasing Use of Hybrid Resins in Reinforcements Presents Opportunities - ResearchAndMarkets.com

July 9, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jul 9, 2021--

The “Global Silicone Resins Market by Type (Methyl, Methyl Phenyl), Application, End-use Industry (Automotive & Transportation, Building & Construction, Electrical & Electronics, Healthcare, Industrial) and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global silicone resins market is estimated to be USD 4.8 billion in 2021 and is projected to reach USD 6.3 billion by 2026, at a CAGR of 5.5% from 2021 to 2026.

The growth is due to the growing demand industrial, construction and automobile and other applications throughout the world. The silicone resins are widely used for paints & coatings, adhesives & sealants and elastomers applications. The increasing demand from industrial segments, automotive & transportation and building & construction is boosting the demand for silicone resins.

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Methyl Silicone Resins is expected to be the fastest-growing type in the silicone resins market during the forecast period

Methyl Silicone Resins is the fastest-growing type segment in the silicone resins market. Methyl Silicone Resins are widely used in topcoats to provide protection to the surface exposed to weather and high temperature. It accounted for a share of about 42.4% of the silicone resins market, in terms of value, in 2020.

Elastomers is expected to be the fastest-growing application in the silicone resins market during the forecast period

Elastomers is the fastest-growing application segment in the silicone resins market. Rising number of automotive & sealants, building & construction and industrial end-use industries will drive the demand for silicone resins in the insulating glass application. It accounted for a share of about 40.4% of the silicone resins market, in terms of value, in 2020.

Industrial is expected to be the fastest-growing end-use in the silicone resins market during the forecast period

Industrial is the fastest-growing curing type segment in the silicone resins market. The growth in this segment is attributed to increased use of silicone resins in various applications, such as paints & coatings, adhesives & sealants and elastomers, among others. It accounted for a share of about 20.4% of the silicone resins market, in terms of value, in 2020.

APAC is the largest market for silicone resins

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APAC is the largest and market of silicone resins, with China being the major emerging market. APAC accounted for the largest share of the silicone resins market in 2020. The market in the region is growing because of increased foreign investments because of cheap labor and availability of raw materials. The growing demand from automobile industry, government proposals to improve manufacturing and rising capital intensive construction, coupled with the increase in demand from industrial, automotive & transportation and building & construction end-uses. It accounted for a share of about 52.3% of the silicone resins market, in terms of value, in 2020.

Market Dynamics

Drivers

  • Range of Properties Catering to Specific End-uses
  • Increasing Demand in Paints & Coatings Industry
  • Wide Use in Electronics & Electrical Industry

Restraints

  • Stringent Government Regulations to Hinder Market Growth

Opportunities

  • Increasing Use of Hybrid Resins in Reinforcements
  • Technological Advancements Help Overcome Integration Challenges

Challenges

  • New Emission Goals of US and Canada to Affect Demand
  • Health and Safety Issues

Companies Mentioned

  • AB Specialty Silicones
  • Advanced Polymer, Inc.
  • Anhui Feidian Advanced Materials Co. Ltd.
  • CHT Group
  • Dow Corning
  • Elkay Chemicals Pvt. Ltd.
  • Elkem ASA
  • Evonik Industries AG
  • Genesee Polymers Corporation
  • Innospec Inc.
  • Iota Silicone Oil (Anhui) Co. Ltd
  • Kaneka Corporation
  • Kanto Chemical Co. Inc.
  • KCC Corporation
  • KIP Chemicals Co. Ltd.
  • Momentive
  • Nitto Denko Corp.
  • Power Chemical Corporation
  • Shenzhen Anpin Silicone Material Co. Ltd.
  • Shin-Etsu Chemical Co. Ltd.
  • Siltech Corporation
  • Sivance LLC
  • Supreme Silicones
  • Tangshan Sunfar New Materials Co. Ltd.
  • The Dow Chemical Company
  • Wacker Chemie AG
  • Zhejiang Runhe Silicone New Materials Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/xdr68x

View source version on businesswire.com:https://www.businesswire.com/news/home/20210709005368/en/

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KEYWORD:

INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 07/09/2021 12:20 PM/DISC: 07/09/2021 12:20 PM

http://www.businesswire.com/news/home/20210709005368/en