Polysiloxane Coatings Market - Forecast(2024 - 2030)

Polysiloxane coatings market size is forecast to reach $4.04 billion by 2030, after growing at a CAGR of 6% during 2024-2030 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.

One trend in the polysiloxane coatings market is the growing demand for eco-friendly and sustainable coatings. As environmental concerns continue to rise, consumers and industries alike are seeking coatings that have minimal impact on the environment. Polysiloxane coatings offer low VOC (volatile organic compound) formulations, making them environmentally friendly compared to traditional coatings. This trend is driven by regulatory pressures, consumer preferences for green products, and the need for sustainable solutions across various industries.

There is an increase in adoption of advanced nanotechnology in polysiloxane coatings. Nanotechnology allows for the manipulation of materials at the nanoscale, resulting in coatings with enhanced properties such as improved durability, scratch resistance, and water repellency. Polysiloxane coatings infused with nanoparticles exhibit superior performance characteristics, making them ideal for demanding applications in sectors like automotive, aerospace, and marine. This trend is driven by the continuous innovation in nanomaterials and the need for high-performance coatings to meet the evolving requirements of modern industries.

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. Also, industries focused more on essential operations and projects during the pandemic, leading to a shift in priorities away from non-essential projects that might have used polysiloxane coatings. This further contributed to the decline in demand.

Demand for certain polysiloxane-based products, such as sealants and adhesives used in construction, may have declined due to reduced construction activity during lockdowns. Conversely, demand for silicone-based products used in healthcare, such as medical adhesives and elastomers for medical devices, may have increased due to the pandemic's strain on healthcare systems.

Despite short-term disruptions, the long-term outlook for the polysiloxane market remains positive. Silicones offer unique properties such as flexibility, durability, and heat resistance, making them indispensable in various industries. As economies recover and demand rebounds, the polysiloxane market is expected to regain momentum.

The report: “Polysiloxane Coatings Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Polysiloxane Coatings Industry.

By Product: Epoxy-Polysiloxane Coatings, Acrylic-Polysolixane coatings, and Others.

By End-Use Industry: Transportation {Automotive (Passenger Cars, Light Weight Commercial Vehicles, Heavy Duty Commercial Vehicles), Aerospace, Marine, Others}, Electrical & Electronics (LED, Computer, Smartphones, Others), Textile Industry, Power & Energy, Infrastructure, Pulp & Paper, Petrochemical Plants, Oil & Gas, Household, and Others.

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East and Africa).

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.

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The acrylic polysiloxane segment held the largest share in the polysiloxane coatings market in 2023. 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.

Transportation dominated the global polysiloxane (polydimethylsiloxane) market in 2023 and is growing at a CAGR of 6.2% during 2024-2030. 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. In 2022, 85 million motor vehicles were produced worldwide. 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.

Asia Pacific dominated the polysiloxane coatings market in 2023 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 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. 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.

According to India Brand Equity Foundation (IBEF), in India passenger vehicle sales were at around 4.1 million units in 2023, compared with 3.9 million units in 2022. Also, the Indian Government expected the automobile sector to attract US$ 8 to US$10 billion in local and foreign investments by 2023. In 2023, the Australian market sold 1.2 million new passenger cars, SUVs, and commercial vehicles. Furthermore, in 2022, it was estimated that about 37.5 million passenger cars were sold within the Asia-Pacific region. The sales volume for light commercial vehicles across India was around 600 thousand units in the year 2023. Hence such factors are increasing the demand for polysiloxane coatings. 

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 spent 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 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. 

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polysiloxane Coatings market. The key companies in the polysiloxane coatings market are:

3M

Evonik Industries AG

Merck KGaA

Akzo Nobel N.V.

Axalta Coating Systems, LLC

Jotun

Asian Paints

Hempel

PPG Industries, Inc.

The Sherwin-Williams Company

In February 2023, Evonik's Coating Additives Business Line has unveiled two novel wetting agents: TEGO® Wet 290 and TEGO® Wet 296. These versatile additives are suitable for diverse substrates such as wood, plastic, and metal, with primary applications found in waterborne automotive and wood coatings. Both agents enhance flow, leveling, and wetting properties, effectively mitigating craters.