Pune, India – The silicone coatings market size is expected to reach $8.6 billion by 2027 after growing at a CAGR of 5.8% between 2022 and 2027, according to Industry ARC. Due to the properties of silicone water repellants, silicone coatings are used in a variety of end-use industries such as building and construction, automotive, etc., which have a tendency to water repellency, thereby improving durability. Additionally, for coating applications, silicon-based polymers are excellent materials because these compounds have excellent properties such as high chemical, thermal and UV resistance, as well as strong adhesion to most surfaces. The silicone coatings market is primarily driven by growing demand from the consumer goods industry. Likewise, the expanding demand from the automotive industry is also driving the growth of the silicone coatings industry.

The Covid-19 pandemic in 2020 has prompted strict lockdown measures in countries around the world, resulting in a halt in the manufacture of consumer goods including air conditioners, refrigerators and other electrical appliances, which has negatively impacted the market growth. For example, according to the International Energy Agency (IEA), China produced 45 million air conditioners in 2019 and 42 million in 2020, a drop of 7.1%. However, in 2021, the market will grow further as governments around the world relax Covid-19 rules and regulations to support their economies. Furthermore, the impact of the Covid-19 pandemic is expected to end by the end of 2022, which will lead to a return to the pre-Covid-19 state of the silicone coatings market growth scenario.

The water-based segment holds the largest share in the silicone coatings market in 2021 and is expected to grow at a CAGR of 6.1% during 2022-2027. The water-based formulation provides excellent coating properties, durability, and resistance to the effects of high temperature and corrosive environments. Silicone water repellent-based formulations are used in silicone coatings because they are highly flexible, reduce moisture and solar radiation absorption, improve environmental resiliency and reduce solvent emissions. Furthermore, the VOC (Volatile Organic Compounds) content of waterborne is significantly lower compared to solventborne, which has led to greater adoption by manufacturers. Because of these factors, water-based formulations are used in silicone coatings,

The consumer products segment will hold the largest share of the silicone coatings market in 2021 and will grow at a CAGR of 7.3% during 2022-2027. The use of silicone coatings in computers enhances critical surfaces in the manufacture of computer systems; because of this advantage, silicone coatings are widely used in semiconductors. Moreover, increasing computer production is further propelling the market growth. For example, according to Japan Electronic Information Technology (JEITA), the total global computer production was $44.63 billion and $46.72 billion in 2020, an increase of 4.7%. Hence, the growing consumer goods industry will drive the growth of the silicone coatings market.

The Asia-Pacific region will account for as much as 38% of the silicone coatings market in 2021. The growing consumer goods industry in the region is accelerating market development. For example, according to Invest India, the consumer appliances and electronics industry in India is expected to reach $21.18 billion by 2025, growing at a CAGR of 11%. Furthermore, increasing construction activity in the region is driving the growth of the region. market. For example, India's construction industry is expected to reach $1.3 trillion by 2025, according to Invest India. In addition, ongoing infrastructure development projects in China, such as the US$44.23 billion expansion of Shanghai's urban rail transit, the South-to-North Water Diversion Project, Beijing Airport, and more will further drive the growth of the market.