The Silicone Resins Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Silicone Resins Global Market Report 2024, The silicone resins market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growing construction and infrastructure development, expansion of the electronics industry, automotive sector growth, rising demand for high-performance coatings, development of high-performance rubbers, increased application in healthcare and medical devices, utility in solar panels and photovoltaics, focus on fire safety and flame retardancy..
The silicone resins market size is expected to see strong growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to proliferation of electric vehicles, emergence of advanced materials in aerospace, growing demand for green building materials, advancements in electronic devices, expansion of renewable energy, focus on lightweighting in automotive sector.. Major trends in the forecast period include silicone resins in 3d printing, silicone resins in personal care, silicone resins for led encapsulation, collaborations and partnerships, silicone resins in aerospace applications, stringent regulatory compliance..
An increase in the number of projects related to construction activities is expected to propel the silicone resins market. Due to the quick industrialization and urbanization, there has been an increase in construction activities. Construction materials like silicone resin are in high demand due to these construction activities. In architecture and construction, silicone resins hold important structural components in connections for expansion, building, connection, and movement. For instance, according to a report released in June 2021 by Statistics Canada's national statistical office, investments in building development climbed to $19,273 million in 2020 from $14,294 million in the previous year. Therefore, increasing construction activities will drive the silicone resins market.
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The silicone resins market covered in this report is segmented –
1) Silicone Resins Market By Type: Methyl Silicone Resins, Methylphenyl Silicone Resins, Other Types
2) Silicone Resins Market By Function: Binding Agents, Impregnating Agents, Hydrophobic Agents, Release Agents, Modifiers
3) Silicone Resins Market By Application: Paints And Coatings, Adhesives And Sealants, Elastomers, Other Applications
4) Silicone Resins Market By End User: Automotive And Transportation, Building And Construction, Electrical And Electronics, Healthcare, Industrial, Other End Users
Developing new silicone resin formulations is a key trend gaining popularity in the silicon resins market. The development of
new silicone resins refers to creating silicone resins functionalized with novel reactive groups and components that can offer formerly unattainable qualities. Major players in the silicone resin sector are focused on developing new silicone resin formulations to sustain their market position. For instance, in January 2022, B9Creations, a US-based company engaged in advanced manufacturing and 3D printing launched an innovative elastomeric resin known as BioRes – Silicone. BioRes – Silicone is a biocompatible 3D printing material that offers specialized medical and consumer technology applications for comforting skin contact items. B9Creations' medical-grade silicone is International Organization for Standardization (ISO) 90993-approved for extended skin contact and provides a special combination of biocompatibility, high accuracy, surface quality, and rip resistance.
The silicone resins market report table of contents includes:
1. Executive Summary
2. Silicone Resins Market Characteristics
3. Silicone Resins Market Trends And Strategies
4. Silicone Resins Market - Macro Economic Scenario
5. Global Silicone Resins Market Size and Growth
.....
31. Global Silicone Resins Market Competitive Benchmarking
32. Global Silicone Resins Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Silicone Resins Market
34. Silicone Resins Market Future Outlook and Potential Analysis
35. Appendix
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