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The Current Demand in the Consumer Goods, Construction, and Paper & Film Release Industries is Driving the Silicone Coatings Market
The current demand in the consumer goods, construction, and paper & film release industries is driving the silicone coatings market. It has also been increasing rapidly in new applications such as medical products and packaging applications. The developments in the end-use industries have encouraged companies to adopt various growth strategies in the silicone coatings market. Investment & expansion was the key strategy adopted by industry players to achieve growth in the global silicone coatings market between 2011 and 2016 that accounted for the largest share.
Companies also adopted new product launches and partnership, agreements, contracts & joint venture to increase their market share and expand their distribution network. These strategies accounted for a significant share of the total number of growth strategies followed by players in the global silicone coatings market between 2011 and 2016. Some leading silicone coating manufacturers adopting these organic and inorganic growth strategies include Wacker Chemie AG (Germany), Momentive Performance Material Inc., (U.S.), Dow Corning Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), and KCC Silicone (South Korea).
Recently, in May 2016, Dow Corning launched a new silicone coatings product, Syl-Off EM 7978. This way the company strengthened its product portfolio for the textile and other industries. Similarly, Momentive Performance Material will launch CoatOSil DRI waterborne silicone product which will be used in various end-use industries such as electronics, automotive, and construction.
Similarly, in April 2016, Wacker Chemie invested USD 29 million to expand their production capacity for functional silicone fluids at its Burghausen site (Germany). This strategy is expected to meet the increasing demand of specialty fluids and silicone coatings to cater the demand from end-use industries for paper, textile, cosmetics, and other industrial applications. Another strategy adopted by Shin-Etsu Chemical in October 2015 invested USD 2 billion in Japan to expand its silicone coatings business operation in the region. This will expand its silicones facilities, from R&D and trial production to mass production.
Silicone Coating Market by Type (Additives, Polymers, 100% Silicone, Water Repellents Silicone, and Others), by Technology, by Application (Construction, Automotive, Consumer Goods, Marine, Industrial, Paper & Film Release, and Others) - Global Forecast to 2021
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