Market Size of Silicone Coating Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Silicone Coating Market Analysis
The silicone coatings market is expected to register a CAGR of over 4%, during the forecast period. The major factor driving the market studied is the utilization of silicone coatings on roofs and exterior walls, in the construction industry. A rise in the demand for silicone coatings is also expected, due to its water-resistant tendency being applied in industries like electrical and automotive. On the flip side, the high production cost of raw materials is anticipated to hinder the growth of the market.
- Owing to its properties of moisture, temperature, and corrosion resistance, silicone coating finds wide applications in the building and construction industry.
- Their ability to tolerate extreme temperatures and not break down even under the effect of UV radiation has led them to become a major choice for enhancing the life of roofs, especially those in plants belonging to the oil and gas industry.
- Asia-Pacific region is expected to be the fastest-growing market due to the high demand for silicone coating from various end-user industries.
