According to the new market research 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″, 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. 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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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.
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.
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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. This growth can be attributed to the increased demand for silicone additives in the plastics & composites application. In addition, the demand for high-quality coating products in emerging economies is another significant factor contributing to the growth of the silicone additives market.
The strategy of new product launches was the most adopted strategy by companies in the Asia Pacific and European regions. Dow Corning (US), Evonik (Germany), Shin-Etsu (Japan), Momentive Performance Materials (US), and BYK Additives (Germany) are focused on expanding their customer base in various regions worldwide. These companies have adopted organic and inorganic growth strategies, such as expansions, mergers & acquisitions, and new product launches, to enhance their market positions.
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Dow Corning is a global manufacturer of silicone products. It is a leading company involved in silicon-based technology, offering more than 7,000 products. The company produces biocompatible silicone materials for the healthcare industry. These materials are used in surgical attachments and for component bonding & lubrication. The company emphasizes on undergoing R&D activities and launching new products to broaden its product portfolio and strengthen its presence in the silicone additives market. For instance, in 2017, the company introduced Dow Corning 904H Coating Additive for architectural facade coatings to enhance the aesthetics of building exteriors. This development strategy helped the company address the increasing demand for visually appealing, bright colored facades for buildings.
Momentive Performance Materials operates through 2 major business segments, namely, silicones and quartz. The company manufactures silicones and their derivative products. It is involved in the distribution of silanes, specialty silicones, and urethane additives. The company has well-recognized brands of silicone additives; it has a strong operational network in the US. The company focuses on the adoption of organic growth strategies such as new product launches to address the rising demand for silicone additives. For instance, in 2016, the company launched CoatOSil DRI waterborne silicone that is used as an additive in various plastics & coatings applications.
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