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Silicone Additives Market – Overview:
Silicone Additives are widely used in some of the end use application such as food & beverage, personal & homecare, paints & coatings, construction, plastic & composites, paper & pulp, and others. The silicone additives market is estimated to witness significant growth due to their unique properties along with excellent usage in numerous end use industries specifically in cosmetics & personal care, construction, and automotive. Among the application segment, in 2016, plastic & composites holds for the largest application segment and is projected to retain their dominance due to continuous growth of paints & coatings, and food & beverage industry in emerging economies.
The factors attributed to the silicone additives market growth are significant growth of personal & homecare in developing countries, increasing automotive production and sales, and expanding construction sector. Moreover, expanding population coupled with burgeoning demand for good quality cosmetics has raised the consumption of silicone additives based personal care products which is likely to propel the growth of the market over the assessment period.
Global Key Player:
- KCC Corporation
- Wacker Chemie AG
- BYK Additives
- Siltech Corporation
- BRB International
- DowDuPont, Evonik Industries AG
- Shin-Etsu Chemical Co., Ltd
- Elkem, and Momentive
Industry/ Innovation/ Related News:
November 2017- DowDupont, a leading manufacturer of specialty chemicals launched silicon additive named as Dow Corning 904H coating additive for architectural façade coatings which offers improved aesthetics for building exteriors. This product also enhance water resistance, repellency, and beading in coatings by rising their surface hydrophobicity. This product launch enhanced company’s status among the silicon additives providers.
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September 2017- Shin-Etsu Chemical Co., Ltd., announced to expand their manufacturing capacity of their Akron, Ohio plant which is already involved in the production and sales of silicones. The construction work is estimated to be complete by the end of 2019. With this expansion, the company will strengthen their position among the silicone additives manufacturer.
November 2017- Spherix Mineral Products signed an agreement with ChemSpec to distribute Dispersix brand of HCR silicone processing additives. This distribution agreement will help company to strengthen their presence in Mexico and U.S.
The Silicone Additives Market report has examined the level of competition amid the major manufacturers in silicone additives market as well as industry growth and market scenario. The global silicone additives market composed of wide range of producers operating in the market which involves medium level and large scale suppliers. Some of the key operating producers of silicone additives which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from the Philippines, Malaysia, Taiwan, Japan, Australia, China, South Korea, India, and Thailand. Moreover, the key manufacturers of silicone additives are observed to follow various strategic plans to enhance their product portfolio such as product launches, strategic acquisition, distribution agreements, joint ventures, and mergers, and exclusive agreements. Some of the key producers in this market are estimated to improve their production capacity of silicone additives to meet the rising demand for silicone additives across the globe.
Geographically, Asia Pacific is estimated to hold the largest silicone additives market share in 2016 which is followed by North America and further trailed by Europe. North American silicone additives market is anticipated to exhibit moderate growth during the review period due to growing awareness regarding the benefits associated with product along with raised consumption in end use application in this region. Asia Pacific is estimated to witness tremendous growth over the assessment period in silicone additives market due to increasing application of silicone additives in numerous end use application segment. In Asia Pacific, the demand for silicone additives is estimated to improve in numerous countries such as Japan, South Korea, Indonesia, the Philippines, Taiwan, India, and China owing to rising population along with shifting of production units for most of the key operating players in this region. In Europe, silicone additives market is predicted to register above average growth owing to shifting consumer preference towards the silicone additives along with high adoption rate in automotive, plastic & composites, and paper & pulp specifically in France, Italy, Belgium, Germany, Poland, Spain, UK, and Russia.
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Keywords: Silicone Additives Market , Silicone Additives Market Share, Silicone Additives Market | Share, Recent Trends, Competitive Landscape, Application Analysis and Growth by Forecast to 2023