New York, United States , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Global Silicone Resins Market Size to Grow from USD 6.2 Billion in 2023 to USD 8.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.71% during the forecast period.
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Silicone resins are ideally suited for high-temperature applications because of their outstanding thermal resilience. Silicone resins are in high demand in industries that require materials to withstand high temperatures, such as electronics and automotive. Silicone resins are ideal for use in electrical and electronic applications because they are electrically insulating. They are frequently used in the manufacture of insulating materials for electronic components and electrical equipment. Because of the growing electronics industry, silicone resins are frequently used in the production of encapsulants, potting compounds, and adhesives for electronic components. Market growth is being driven by the demand for trustworthy and long-lasting materials in electronic applications. Silicone resins are utilised in a variety of construction products, including sealants, adhesives, and coatings.
Silicone Resins Market Value Chain Analysis
The value chain starts with suppliers of silicone resin raw materials. This comprises silicon metal, methyl chloride, and other chemicals used in the production of silicone resin. This industry is in charge of silicone resin synthesis and manufacture. To convert basic components into final silicone resin products, complex chemical procedures are employed. Silicone resin formulations are sold to coatings and paint manufacturers. Silicone resins are used in the products of these firms to manufacture high-performance coatings for a variety of industries, including automotive, construction, and electronics. Silicone resins are utilised in the manufacture of construction products such as sealants, adhesives, and paints. Silicone resins are utilised in the construction industry to increase the performance and longevity of their materials. Because they allow the supply of silicone resins and associated commodities from producers to end users, distributors play a key role in the value chain. End-users or final customers of silicone resin-containing products. Customers may be purchasing electronics, building materials, medical equipment, or other items where silicone resins improve performance and longevity.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Silicone Resins Market Size By Type (Methyl Silicone Resins, Methylphenyl Silicone Resins), By Application (Paints And Coatings, Adhesives And Sealants, Elastomers), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Type
The methyl silicone resins segment accounted for the largest market share over the forecast period 2023 to 2033. Because of their exceptional heat stability, methyl silicone resins are suitable for high-temperature applications. This capability is very valuable in industries such as aviation, automotive, and electronics. Methyl silicone resins provide electrical insulation. As a result, they are ideal for usage in the electronics and electrical industries, where effective insulating characteristics are required. Methyl silicone resins have excellent adhesion properties and may adhere to a variety of surfaces. They can be employed in a range of industries, including construction, automotive, and electronics, due to their versatility. Methyl silicone resins are usually developed to be easy to use and apply. This feature is especially useful in fields where application ease is critical, such as construction and manufacturing.
Insights by Application
The paints and coatings segment accounted for the largest market share over the forecast period 2023 to 2033. Silicone resins are exceptionally robust and resistant to weather. This endurance in paints and varnishes ensures long-lasting protection for surfaces exposed to adverse weather conditions, making them ideal for exterior applications. Silicone resins offer great UV resilience, which prevents coatings from breaking down when exposed to sunshine. This property is essential in exterior coatings, where UV radiation protection is essential for maintaining colour and integrity over time. When adhesion is crucial, silicone resins are used as release coatings. Mould release coatings are used in industrial processes such as rubber and plastics. Silicone resins may be easily applied and formed into films. This property advantages coating manufacturers by allowing for greater flexibility in application methods while yet keeping a smooth finish.
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Insights by Region
North America is anticipated to dominate the Silicone Resins Market from 2023 to 2033. The region has had consistent growth, driven by demand from industries such as construction, automotive, electronics, and coatings. Silicone resins are frequently employed in the building industry in North America. These resins are used in sealants, adhesives, and coatings for building materials, which contributes to market growth. Silicone resins are utilised in coatings, adhesives, and gaskets in the North American automotive sector. The automotive industry's search for high-performance materials has fueled the silicone resins market's growth. Silicone resins have also been employed for a variety of uses in the aerospace and defence industries in North America. Silicone resins are appropriate for aircraft applications due to their unique properties, such as temperature stability and endurance.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region is seeing rapid urbanisation and rapid development. As a result, there is a greater demand for Silicone Resins materials and solutions, particularly in densely populated urban regions. Silicone Resins demand has been boosted by the Asia-Pacific industrial sector, which comprises manufacturing units and power plants. As industries expand, so does the need to limit noise pollution and meet legal standards. The rising economies of the Asia-Pacific region offer opportunities for growth in the Silicone Resins market. As these economies develop, a greater focus is placed on creating sustainable and comfortable living and working conditions. Green building methods are gaining popularity in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players In the Global Silicone Resins Market include EVONIK INDUSTRIES AG, Primasil, Kaneka Corporation, Genesee Polymers Corporation, Elkay Chemicals Private Limited, Supreme Silicones India Pvt Ltd, Savitri Chemicals, Wacker Chemie AG, Siltech Corporation, Momentive, and Others.
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Recent Market Developments
- In May 2022, Wacker Chemie, a worldwide chemical company, has increased its silicone resin production capacity in China significantly.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Silicone Resins Market, Type Analysis
- Methyl Silicone Resins
- Methylphenyl Silicone Resins
Silicone Resins Market, Application Analysis
- Paints And Coatings
- Adhesives And Sealants
- Elastomers
Silicone Resins Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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