Polysiloxane Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 1.34 Billion |
| Market Size (2029) | USD 1.74 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Polysiloxane Market Analysis
The Polysiloxane Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 1.74 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
- The market was negatively impacted by the COVID-19 pandemic as there was a slowdown in production and mobility wherein industries, such as transportation, infrastructure, etc., were forced to delay their production due to containment measures and economic disruptions. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- The major factors driving the growth of the market studied are the growing usage of protective and industrial coatings and vast applications in the healthcare industry. Technological drawbacks and incompatibility with a few other materials or additives are likely to hinder the growth of the market.
- Continuous R&D of polysiloxane technologies for the development of newer applications is likely to create opportunities for the market in the coming years. Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Polysiloxane Market Trends
Increasing Demand from Electronics Sector
- Polysiloxanes, owing to their good solubility, film-forming ability, fair adhesion to various substrates, excellent heat radiation, non-toxic characteristics, low dielectric constants, and superior thermal & chemical resistivity, are widely used to manufacture electronic items such as organic light-emitting diodes (OLEDs), solar cells, electrical memories, and liquid crystalline materials, among other products.
- The increasing usage and wide areas of application in the electrical and electronics industry are expected to drive market growth across the globe.
- For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was estimated at USD 3,436.8 billion in 2022, registering a growth rate of 1% year on year, compared to USD 3,415.9 billion in 2021. Moreover, the industry was expected to reach USD 3,526.6 billion, with a growth rate of 3% year on year, at the end of 2023.
- Moreover, according to the Ministry of Electronics and Information Technology, the production value of consumer electronics (TV, accessories, and audio) across India was above INR 745 billion (USD 9.46 billion) in fiscal year 2022. Thus supporting the growth of the market.
- Such positive growth is expected to increase the consumption of polysiloxane in the electronics sector through the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the largest share of the market studied, mainly driven by countries such as China, India, Japan, and South Korea. Owing to its large production base of medical devices, adhesives and sealants, elastomers, electronics, etc.
- In June 2023, Henkel announced the addition of a New adhesive Manufacturing Facility in China. The new manufacturing facility of Henkel Adhesive Technologies in the Yantai chemical industry park in Shandong province, China. The new plant, 'Kunpeng,’ will cost approximately CNY 870 million (USD 119 million). The new plant will increase Henkel’s production capacity of high-impact adhesive products in China and further optimize the supply chain to meet the increasing demand from domestic and foreign markets, which in turn is expected to benefit the market growth.
- Moreover, in May 2023, Jowat, the adhesive manufacturer, announced to expand its presence in Asia-Pacific with the establishment of its own adhesive center in China. The new adhesive center in Asia will have a surface area of more than 11,000 sq meters and is planned to be finished by the end of 2023.
- Furthermore, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, and cables, recorded the highest growth in the electronics segment. The country not only serves the domestic demand for electronics but also exports electronic output to other countries. Owing to the increase in the disposable incomes of the middle-class population in China and the rising demand for electronic products in the countries that import electronic products from China, the production of electronics is estimated to grow further during the forecast period.
- The Chinese manufacturers are setting up overseas production bases in order to expand in the electronics international markets. For instance, TCL has broadened its presence in international markets by establishing factories abroad, producing televisions, modules, and photovoltaic cells in Vietnam, Malaysia, Mexico, and India. In addition, it has formed partnerships with local companies in Brazil to collaboratively develop production facilities, supply chains, and an R&D infrastructure.
- The factors above are expected to boost the demand for polysiloxane in the region during the forecast period.
Polysiloxane Industry Overview
The polysiloxane market is partially consolidated in nature. The major players in the studied market (not in any particular order) include 3M, Akzo Nobel N.V., Evonik Industries AG, Merck KGaA, The Sherwin-Williams Company, and Wacker Chemie AG, among others.
Polysiloxane Market Leaders
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3M
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Akzo Nobel N.V.
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Evonik Industries AG
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Merck KGaA
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Polysiloxane Market News
- June 2022: Nerolac unveiled the Neropoxy solvent-free coating designed specifically for water pipelines. Additionally, they introduced C5 Fluoro Polymer Coatings, IPNet, Polysiloxane, and anti-carbonation systems, enhancing their portfolio of High-Performance Coatings.
- May 2022: The Sherwin-Williams Company obtained a Limited Government Purpose License for the patented non-skid coating based on polysiloxane, which was developed at the US Naval Research Laboratory.
Polysiloxane Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Usage in Protective and Industrial Coatings
4.1.2 Vast Applications in the Healthcare Industry
4.1.3 Augmenting Usage in Optoelectronic Applications
4.2 Restraints
4.2.1 Technological Drawbacks and Incompatibility with Few Other Materials or Additives
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Application
5.1.1 Medical
5.1.2 Paints and Coatings
5.1.2.1 Inorganic Polysiloxane
5.1.2.2 Epoxy-Polysiloxane Hybrids
5.1.2.3 Acrylic-Polysiloxane Hybrids
5.1.3 Adhesives and Sealants
5.1.4 Elastomers
5.1.5 Organo Electronic Materials
5.1.6 Fabrics
5.1.7 Other Applications (Personal Care, Cosmetics, Etc.)
5.2 End-user Industry
5.2.1 Healthcare
5.2.2 Oil and Gas
5.2.3 Power
5.2.4 Infrastructure
5.2.5 Transportation
5.2.6 Electronics
5.2.7 Food and Beverage
5.2.8 Textile
5.2.9 Other End-user Industries (Membranes, Antifoaming Agents, Etc.)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Akzo Nobel N.V.
6.4.3 Asian Paints
6.4.4 Biro Technology Inc.
6.4.5 Dampney Company
6.4.6 Evonik Industries AG
6.4.7 Gelest Inc.
6.4.8 Huntsman Corporation LLC
6.4.9 Merck KGaA
6.4.10 Restek Corporation
6.4.11 The Sherwin-Williams Company
6.4.12 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Continuous R&D of Polysiloxane Technologies for Development of Newer Applications
7.2 Other Opportunities
Polysiloxane Industry Segmentation
Polysiloxanes are a general category of polymers consisting of a silicon-oxygen backbone with organic groups, generally methyl groups, that are attached to the silicon atoms. Polysiloxanes are chemically stable and unreactive and have good electrical insulation characteristics. They are significantly used in the healthcare sector, paints and coatings, and others.
The polysiloxanes market is segmented by application, end-user industry, and geography. By application, the market is segmented into medical, paints and coatings, adhesives and sealants, elastomers, organic electronic materials, fabrics, and other applications (membranes, anti-foaming agents, etc.). By end-user industry, the market is segmented into healthcare, oil and gas, power, infrastructure, transportation, electronics, food and beverage, textile, and other end-user industries (personal care, cosmetics, etc.). The report also covers the market size and forecasts for the market in 15 countries across the globe.
For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| Application | |||||
| Medical | |||||
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| Adhesives and Sealants | |||||
| Elastomers | |||||
| Organo Electronic Materials | |||||
| Fabrics | |||||
| Other Applications (Personal Care, Cosmetics, Etc.) |
| End-user Industry | |
| Healthcare | |
| Oil and Gas | |
| Power | |
| Infrastructure | |
| Transportation | |
| Electronics | |
| Food and Beverage | |
| Textile | |
| Other End-user Industries (Membranes, Antifoaming Agents, Etc.) |
| Geography | |||||||
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Polysiloxane Market Research FAQs
How big is the Polysiloxane Market?
The Polysiloxane Market size is expected to reach USD 1.34 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 1.74 billion by 2029.
What is the current Polysiloxane Market size?
In 2024, the Polysiloxane Market size is expected to reach USD 1.34 billion.
Who are the key players in Polysiloxane Market?
3M, Akzo Nobel N.V., Evonik Industries AG, Merck KGaA and The Sherwin-Williams Company are the major companies operating in the Polysiloxane Market.
Which is the fastest growing region in Polysiloxane Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polysiloxane Market?
In 2024, the Asia Pacific accounts for the largest market share in Polysiloxane Market.
What years does this Polysiloxane Market cover, and what was the market size in 2023?
In 2023, the Polysiloxane Market size was estimated at USD 1.27 billion. The report covers the Polysiloxane Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polysiloxane Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polysiloxane Industry Report
Statistics for the 2024 Polysiloxane market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polysiloxane analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Polysiloxane Market Report Snapshots
