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                                  Home Press Releases

                                  Polysiloxane Coatings Market Size Forecast to Reach $3.2 Billion by 2026

                                  admin by admin
                                  January 28, 2022
                                  in Press Releases
                                  Phototherapy Equipment Market Size Forecast to Reach $1.2 Billion by 2026
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                                  (EMAILWIRE.COM, January 19, 2022 ) Polysiloxane coatings market size is forecast to reach $3.2 billion by 2026, after growing at a CAGR of 6% during 2021-2026 due to increasing demand for protective coatings from various end-use industries such as building & construction, automotive, aviation, personal care products, and others. Polysiloxane offers various properties such as excellent abrasion and corrosion resistance, anti-graffiti properties, and has low volatile organic compounds. Polysiloxane is linear polydimethylsiloxane (PDMS) that is used to improve the antifouling properties of the fouling release coatings based on polyurethane. Polydimethylsiloxane provides lubricating effects and offers excellent thermal stability, biocompatibility, and is easy to handle. Polysiloxane contains a high density of benzophenone which has excellent ultraviolet abrasion properties. Hence, increasing demand for nanotechnology for the improvement of UV protection from the end-use industry is estimated to grow the demand for polysiloxane coatings.

                                  Impact of COVID – 19

                                  Due to COVID-19, the construction activities have been shut down from the first a quarter of 2020 and also continue in Q2 of 2021, due to which new buildings, offices could not be commissioned. According to U.S. Census Bureau, construction spending in the US decreased 0.8% in January 2021 which limited the demand for polysiloxane coatings.

                                  Polysiloxane Coatings Market Segment Analysis – By Type

                                  The acrylic polysiloxane segment held the largest share in the polysiloxane coatings market in 2020. Acrylic polysiloxane coatings offer low volatile organic compounds, excellent flexibility, abrasion resistance, color retention, aesthetic behavior, durability, and others which makes them ideal for cosmetics and architectural coatings. Acrylic polysiloxane coating provides a superior gloss of personal care products. Also, it is designed to maintain finish coat in an onshore and offshore environment which is estimated to grow the consumption of acrylic polysiloxane coatings.

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                                  Report Price: $ 4500 (Single User License)

                                  Polysiloxane Coatings Market Segment Analysis – By End-Use Industry

                                  Transportation dominated the global polysiloxane (polydimethylsiloxane) market in 2020 and is growing at a CAGR of 6.2% during 2021-2026. Polysiloxane coatings offer excellent abrasion, corrosion resistance, anti-graffiti properties, and other properties thus are used in gaskets, planes, and others. Thus, increasing vehicle production and the aerospace industry are estimated to grow the consumption of polysiloxane coatings. According to the International Organization of Motor Vehicles Manufacturers (OICA), global vehicle production increased by 21.08 million in January-March 2021 as compared to 18.03 million in January-March 2020. Furthermore, according to the Federation of Automobile Dealers Associations (FADA), passenger vehicle sales in November 2020 stood at 2,91,001 units with 4.17 % growth, compared with 2,79,365 units in November 2019. Also, the Indian Government expects the automobile sector to draw in US$ 8-10 billion in native and foreign investments by 2023. Apart from this, according to the India Brand Equity Foundation (IBEF), The MRO (maintenance, repair, and overhaul) aerospace industry is likely to grow over US$ 2.4 billion by 2028 from US$ 800 million in 2018. Also, the number of airplanes is expected to reach 1,100 by 2027. Hence, increasing automotive and aerospace production activities is estimated to grow the demand for liner polydimethylsiloxane or polysiloxane coatings.

                                  Polysiloxane Coatings Market Segment Analysis – By Geography

                                  Asia Pacific dominated the polysiloxane coatings market in 2020 with more than 30%, due to increasing demand from the building & construction and automotive sector in Asian countries. Polysiloxane coatings can resist temperatures of approximately 1,400°F (760°C) and provide high UV resistance with coatings by nanotechnology. Thus, increasing investment in the construction sector and housing demand is creating opportunities for polysiloxane coatings. According to the The Indian government, an investment worth US$ 31,650 billion has been initiated by 99 cities under their smart city plans. Additionally, 100 smart cities and 500 cities are possible to invite investment worth INR 2 trillion in the upcoming 5 years. According to the Council on Tall Buildings and Urban Habitat (CTBUH), China constructed 11 supertalls buildings more than 300 meters in 2018. Apart from this, According to the International Trade Administration (ITA), the Chinese government expected to run the production of automobiles with 35 million units by 2025. Hence, the increasing automotive and construction sector is estimated to grow the demand for protective coating which, in turn, increasing the demand for polysiloxane coatings.

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                                  Polysiloxane Coatings Market Drivers

                                  Increasing Automotive Production

                                  According to India Brand Equity Foundation (IBEF), in India passenger vehicle sales were at 3,10,294 units in October 2020, compared with 2,71,737 units in October 2019, registering a 14.19% growth. Also, the Indian Government expects the automobile sector to attract US$ 8 to US$10 billion in local and foreign investments by 2023. In 2017, the Australian market sold 1.2 million new passenger cars, SUVs, and commercial vehicles, an increase of 0.9 % from 2016. Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), the production of light commercial vehicles has also increased in the APAC region by 10.2 % in 2018. Light commercial vehicle production has increased from 2,249,348 in 2018 to 2,254,153 in 2019, an increase of 0.2 % in Europe. Additionally, according to the International Organization of Motor Vehicle Manufacturers, in Malaysia, commercial and passenger car vehicle production increased by 1.2% to 571632 units in 2019 as compared to 564800 units in 2018. Hence such factors are increasing the demand for polysiloxane coatings.

                                  Growing Consumption from Infrastructure Sector

                                  Polysiloxane coatings provide corrosion protection, excessive temperature protection, fire resistance to ensure the durability, and aesthetics of the constructed structure. Polysiloxane coatings are applied for high UV protection as they contain benzophenone chemicals. It is formulated with low volatile organic compounds, thus; they provide protective coatings for infrastructure application. Hence, increasing infrastructure projects are estimated to grow the demand for nanotechnology coatings. According to India Brand Equity Foundation (IBEF), India plans to spend US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP) by 2023. Therefore, increasing such activities are estimated to grow the consumption of polysiloxane coatings.

                                  Polysiloxane Coatings Market Challenges

                                  Toxicity of Polysiloxane Poses Health Risk

                                  Polysiloxane highly is a flammable liquid and vapor that causes skin irritation, eye irritation, damaged respiratory system, and cause of dizziness. Polysiloxane contains benzophenone group compounds which are used in personal care and cosmetics. But benzophenone is a toxic compound that causes skin reactions and allergies. Hence, such a factor is limiting the market growth.

                                  Polysiloxane Coatings Market Landscape

                                  Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polysiloxane Coatings market. Major players in the polysiloxane coatings market are Akzo Nobel N.V., Axalta Coating Systems, LLC, Jotun, Cromology, Hempel, PPG Industries, Inc., and Sherwin-Williams Company, and among others.

                                  Key Takeaways

                                  Asia-Pacific dominates the polysiloxane coatings market due to growing investment in infrastructural development and production of vehicles in developing and emerging countries such as India, China, Malaysia, and others.

                                  According to India Brand Equity Foundation (IBEF), the automotive industry in India is expected to reach Rs 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026.

                                  Increasing adoption of polysiloxane coatings due to well performance against weather and ultraviolet light as they contain benzophenone is estimated to create an opportunity for the polysiloxane/(polydimethylsiloxane) market.

                                  Polysiloxane coatings provide excellent protection from harmful rays with nanotechnology and have low VOC which may increase the market size during the forecast period.

                                  Related Reports:

                                  A. Argentina Architectural Coatings Market

                                  https://www.industryarc.com/Report/18819/argentina-architectural-coatings-market

                                  B. Decorative Paints & Coatings Market

                                  https://www.industryarc.com/Research/Decorative-Paints-Coatings-Market-Research-500410

                                  For more Chemicals and Materials Market reports, please click here

                                  About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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