High manufacturing costs of silicon resin is expected to hamper the global market growth. Moreover, due to high raw material and refining costs, the silicon resin market is estimated to impede the growth of the silicon resin market.

Description

Silicone Resin Market: by End-Use Industry (Building and Construction, Chemical, Personal Care and Pharmaceuticals, Electrical and Electronics, Automotive, Coating, Transportation and Textiles), by Product Type (Silicone Modified Polyester Resins, Silicone Modifies Alkyd Resins, Silicone Modifies Epoxy Resins, Water Based Silicone Resins, Methyl Silicone Resins, and Phenyl Methyl Silicone Resins) – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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The silicon resin market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analysis of the market, capturing all the aspects of the silicon resin industry.

Silicon Resin: Market Introduction

Silicone resins are silicone materials shaped from cage-like oligo siloxanes and branched with the RnSiXmOy formula. The silicone resins develop films with heat resistance, water repellence, resilience, anti-corrosion, dielectric properties, surface hardness, and electrical insulation properties. Silicone resins are commonly used in several industries, including the building and construction industry, paintings and coating industry, personal care and pharmaceuticals industry, electrical and electronics industry, automotive industry, and chemical industry. Based on the functional groups found in the siloxane chain resins, silicone resins can be of varying forms.

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Silicon Resin: Market Dynamics

Growing demand for silicon resin in various end-user industries due to its lightweight and negligible impurities are some important factors associated with it. Coating based silicon resin provides superior thermal resilience and water repellence that is expected to boost the global demand for silicon resin. The overall industry growth is being fuelled by technological developments such as 4k Ultra HD and smart home technologies. Moreover, lightweight materials are being used to minimize the weight of the automobile, resulting in a decrease in total fuel consumption. This will result in overall growth of the market.

High manufacturing costs of silicon resin is expected to hamper the global market growth. Moreover, due to high raw material and refining costs, the silicon resin market is estimated to impede the growth of the market. Further, silicon resins' adverse health effects are a key challenge for the growth of the silicon resin market.

Continuous research and development activities to manufacture cost-effective silicon resin is projected to boost the silicon resin market. Leading companies are estimated to implement advanced technologies through the introduction of fillers to give the industry new growth opportunities over the forecast period. Silicone resin industries are developing a partnership with healthcare companies for the development of silicone resin based products. Moreover, it is expected that the growing benefits of e-commerce to ensure the availability of finished goods by providing advantages, such as discounts and timely delivery, will encourage the buying of silicone resin-based products.

Impact of COVID-19 on the Silicon Resin Market

The global COVID-19 pandemic has forced industrial operations to abruptly halt around the globe and impacting the market for plastics and their development and processing operations, including silicon resin. To prevent the spread of coronavirus, workers have either returned to their hometowns or were quarantined. The upstream supply chain has disturbed significantly in the construction, automobile, pharmaceutical, textile & coatings industries. The most seriously affected end-use markets include automotive & transportation, consumer goods, manufacturing machinery. Due to disturbance in these end-use industries, the silicon resin market also affected significantly.

Silicon Resin Market: Scope of the Report

The report outlines the study of the silicon resin market on the basis of product type and end-use industry.

Based on the product type, the silicon resin market is segmented into-

• Silicone Modified Polyester Resins
• Silicone Modifies Alkyd Resins
• Silicone Modifies Epoxy Resins
• Water-Based Silicone Resins
• Methyl Silicone Resins
• Phenyl Methyl Silicone Resins.

Based on the end-use industry, the silicon resin market is segmented into-

• Building and Construction Industry
• Chemical Industry
• Personal Care and Pharmaceuticals Industry
• Electrical and Electronics Industry
• Automotive Industry
• Coating Application Industry
• Transportation Industry
• Textile Industry

Silicon Resin Market: Competitive Landscape

The key players of silicon resin market are Wacker Chemie AG, Dow Corning Limited, Shin-etsu Chemical Corporate Limited, Evonik Tego Chemie GmbH, Bluestar Silicones.

The other companies of silicon resin market are Kaneka Corporations, Momentive Performance Materials Holdings Incorporated, Adhis S.A.S, BRB International BV and Siltech Corportion, PCC Group, KANTO, Ashland, Kemira.

• In September 2018, the Dow Chemical Company announced the construction of new silicon resin plant to increase its global capabilities and satisfy the rising demand for the silicone in end-use industries globally

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