From GlobeNewswire: 2024-07-31 07:30:00

Exactitude Consultancy has completed a detailed research report on the Silicone Coating Market, which reached USD 7.8 Billion in 2023 and is expected to hit USD 13.22 Billion by 2033. Growing application in construction, automotive, and marine industries is fueling market expansion. The market is driven by product developments and environmental initiatives.
Silicone coatings are increasingly used in construction sectors for protection against environmental factors, contributing to the market growth. Technological advancements in the defense and aerospace industries are also boosting demand for advanced silicone coatings. The sector’s integration in various industries is expanding the market, along with growing environmental concerns and regulations on VOCs.
Opportunities in the silicone coating market include innovations in automotive and transportation industries and the expansion of manufacturing capacity. However, challenges like high manufacturing costs, COVID-19 supply chain disruptions, and technical limitations hinder market growth. North America leads the market, followed by rapid growth in Asia-Pacific, with opportunities emerging in the Middle East and Africa. Country-specific insights provide a nuanced outlook on regional dynamics. Key market players include Wacker Chemie AG, Dow, and Shin-Etsu Chemical Co., Ltd.
Recent developments in the silicone coating market include Momentive Performance Materials’ new production facility for advanced coatings, Dow Chemical’s investment in expanding production capabilities, Wacker Chemie AG’s launch of eco-friendly coatings, and Shin-Etsu Chemical Co., Ltd.’s opening of a new silicone facility. These developments aim to meet the growing demand for high-performance and sustainable silicone coatings in various industries.



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