The silicone additives market is estimated to be USD 1.20 Billion in 2017 and is projected to reach USD 1.70 Billion by 2022, at a CAGR of 7.2% during the forecast period. The growth of the silicone additives market is primarily driven by the increasing use of silicone additives in plastics & coatings application.
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The report "Silicone Additives Market by Function (Defoamer, Rheology Modifier, Surfactants, Wetting and Dispersing Agents), Application (Plastics & Composites, Paints & Coatings, Pulp & Paper, Food & Beverage), and Region - Global Forecast to 2022"
In addition, rise in disposable income and increase in demand for qualitative products in emerging economies are influencing the growth of the silicone additives market. New product launches and agreements & joint ventures undertaken by key market players are further fueling market growth.
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Browse 65 market data Tables and 30 Figures spread through 116 Pages and in-depth TOC on“Silicone Additives Market by Function (Defoamer, Rheology Modifier, Surfactants, Wetting and Dispersing Agents), Application (Plastics & Composites, Paints & Coatings, Pulp & Paper, Food & Beverage), and Region - Global Forecast to 2022”
Plastics & composites: The largest application segment of the silicone additives market
The plastics & composites segment is the largest application segment of the silicone additives market. Silicones are used in the plastics industry as additives to improve the processing and surface properties of plastics as well as thermoplastic materials.
Silicone additives help enhance the antifoaming, rheology modification, substrate wetting, and leveling properties of plastics and composites. These additives also help improve the quality and features of finished products.
The plastics & composites segment accounts for a major share of the silicone additives market. Silicone additives are often used to improve the wear or abrasion resistance property of products as well as to reduce noises generated by the motion of plastic parts.
These characteristics are achieved by reducing the friction coefficient of materials with the use of silicone additives.
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Defoamers: The largest function segment of the silicone additives market
The defoamers segment is the largest function segment of the silicone additives market. Defoamers are chemical additives that are used in various applications, such as paints & coatings and food & beverages.
They prevent the formation of foam during pigment milling, paint manufacturing, and plastic & composite manufacturing processes, and avoid any resultant defects that might occur due to an air void. The increasing demand for qualitative coatings is driving the growth of the defoamers segment.
North America: The largest market for silicone additives in 2016
North America is the largest market for silicone additives; this region is considered to be a leading exporter of silicone additives. North America accounts for the largest share of the silicone additives market, globally.
The silicone additives market in North America is projected to witness significant growth, owing to the increased demand for silicone additives in various applications, including plastics & composites, paints & coatings, paper & pulp, food & beverages, and chemical manufacturing. In addition, the expansion of the plastic manufacturing industry in North American countries is contributing to the growth of the silicone additives market in this region.
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Major players such as Dow Corning (US), Evonik (Germany), Shin-Etsu (Japan), Momentive Performance Materials (US), BYK Additives (Germany), and Elkem (Norway) have adopted key growth strategies such as expansions, agreements & collaborations, and new product launches to strengthen their foothold in the silicone additives market.
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