The Latest Silicone Coating Industry Statistics Explained
The silicone market size was estimated at USD 4.17 billion in 2019.
The statistic that “the silicone market size was estimated at USD 4.17 billion in 2019” indicates the total value of the silicone market based on industry data and market analysis for the given year. This figure represents the combined value of all transactions and sales within the silicone market, including products like silicone elastomers, fluids, resins, and gels. The estimated market size serves as a key indicator of the industry’s overall health and growth potential, providing insights into the demand, production, and consumption trends within the silicone market for a specific time period. This information is valuable for stakeholders, investors, and decision-makers to understand the market landscape and make informed strategic decisions.
Silicone coatings market is projected to reach USD 6.60 Billion by 2021.
The statistic suggests that the silicone coatings market is expected to grow significantly, with a projected value of USD 6.60 billion by the year 2021. This forecast indicates a positive outlook for the silicone coatings industry, reflecting increasing demand for such products in various applications such as automotive, construction, and electronics. Factors contributing to this projected growth may include advancements in technology, expanding industrial sectors, and rising awareness about the benefits of silicone coatings. Overall, the statistic highlights a promising trend for the market, indicating potential opportunities for companies operating in the silicone coatings sector.
The silicone additives segment contributed approximately 60% of sales in the Silicone coating industry in 2015.
The statistic that the silicone additives segment contributed approximately 60% of sales in the Silicone coating industry in 2015 indicates that a significant portion of the industry’s revenue came from the sales of silicone additives specifically. This suggests that silicone additives play a crucial role in the sector, potentially highlighting their importance in enhancing the performance and characteristics of silicone coatings. Companies operating in the industry may have a strong focus on developing and marketing silicone additives to meet the demand and preferences of customers, thereby driving a substantial portion of the overall sales within the industry during the specified period.
Asia Pacific led the silicone coatings market making up 40.7% of its total volume in 2015.
The statistic ‘Asia Pacific led the silicone coatings market making up 40.7% of its total volume in 2015’ indicates that the Asia Pacific region had the largest share in the silicone coatings market in terms of volume in 2015. Specifically, Asia Pacific accounted for 40.7% of the total volume of silicone coatings sold globally that year. This suggests that the demand for silicone coatings was particularly high in the Asia Pacific region compared to other regions, showcasing a strong market presence and potentially reflecting the region’s economic growth, industrial activities, and technological advancements driving the demand for such products.
Construction was the largest end-use sector for silicone coatings in 2015, accounting for 34.5% of its total volume.
This statistic indicates that in 2015, the construction industry was the primary end-use sector for silicone coatings, representing 34.5% of the total volume of silicone coatings consumed. This suggests that silicone coatings are widely utilized in various construction applications such as sealing, protection, and insulation due to their properties like durability, weather resistance, and thermal stability. The significant share of silicone coatings in the construction sector highlights their importance in enhancing the performance and lifespan of various structures and building materials.
The consumer goods industry is forecast to grow at a CAGR of 4.2% in the silicone coatings market from 2016 to 2024.
This statistic indicates that the consumer goods industry is predicted to experience a Compound Annual Growth Rate (CAGR) of 4.2% in the silicone coatings market between the years 2016 and 2024. A CAGR provides a smooth rate of growth over a specified period by assuming that growth happens steadily over time, unlike a simple annual growth rate. The forecast suggests that the demand for silicone coatings within the consumer goods industry is expected to exhibit consistent growth at this percentage annually over the specified time frame. This information can be used by companies operating in this market to make strategic decisions, plan for future investments, and capitalize on potential growth opportunities.
In 2015, the marine sector accounted for 11.9% of total silicone coatings market volume.
The statistic indicates that in 2015, the marine sector contributed 11.9% of the total volume within the silicone coatings market. This suggests that a significant portion of the silicone coatings produced and consumed during that year was specifically used within the marine sector, which includes applications such as coatings for ships, boats, offshore platforms, and marine equipment. Understanding this market share can help businesses and policymakers make informed decisions regarding resource allocation, product development, and marketing strategies within the silicone coatings industry to better serve the needs of the marine sector.
Poly silicone coating technologies had a market share of over 50% in 2020.
The statistic, “Poly silicone coating technologies had a market share of over 50% in 2020,” indicates that among all the different types of coating technologies available in the market in 2020, poly silicone coating technologies accounted for more than half of the total market share. This suggests that poly silicone coatings were widely adopted and preferred by consumers or industries for their coating needs during that year. The high market share could be attributed to factors such as superior performance, durability, cost-effectiveness, or eco-friendliness compared to other coating technologies available in the market. Overall, the statistic highlights the dominance and popularity of poly silicone coatings within the industry in 2020.
By 2024, water repellent coatings are projected to reach a 32.1% share of the silicone coatings market in terms of volume.
This statistic indicates that by the year 2024, water repellent coatings are expected to account for 32.1% of the total volume within the silicone coatings market. This projection suggests a significant growth in the demand and adoption of water repellent coatings, reflecting an increasing preference for products that offer water resistance properties. This shift may be driven by various factors such as growing awareness of the benefits of water repellent coatings, including protection against moisture damage and improved durability. Overall, the statistic highlights a promising market opportunity and trend within the silicone coatings industry towards the use of water repellent products.
Automotive & Transportation applications are expected to grow at a CAGR of 5.8% in the silicone coatings market from 2016 to 2024.
This statistic indicates that the use of silicone coatings in Automotive & Transportation applications is projected to experience a Compound Annual Growth Rate (CAGR) of 5.8% between the years 2016 and 2024. A CAGR is a measure used to describe the average annual growth rate of an investment over a specified period of time. In this context, it suggests that the demand for silicone coatings in automotive and transportation sectors is anticipated to steadily increase at a rate of 5.8% per year during the specified time frame. This growth trend could be attributed to factors such as the increasing adoption of silicone coatings for corrosion protection, durability enhancement, and aesthetics in vehicles, as well as advancements in automotive technologies that promote the use of such coatings.
The architecture segment is predicted to be the fastest-growing end-use sector in the silicone coatings industry at a CAGR of 5.6% from 2017 to 2025.
The statistic indicates that within the silicone coatings industry, the architecture segment is expected to experience the highest rate of growth over the specified period. Specifically, the compound annual growth rate (CAGR) for this segment is projected to be 5.6% from 2017 to 2025. This suggests that demand for silicone coatings within the architecture sector is anticipated to increase steadily over the next few years, likely driven by factors such as expanding construction activities, technological advancements in coating materials, and a growing emphasis on sustainable and high-performance building solutions. This forecast highlights a promising opportunity for businesses involved in the production and distribution of silicone coatings aimed at the architecture industry.
The South American silicone coatings market grew by 3.4% in 2019.
The statistic indicates that the South American silicone coatings market experienced a 3.4% growth in 2019 as compared to the previous year. This growth suggests an increase in demand for silicone coatings in the region, which could be influenced by factors such as a growing construction industry, increased infrastructure projects, or advancements in technology driving the use of silicone coatings for various applications. The growth rate of 3.4% demonstrates a positive trend in the market for silicone coatings, indicating potential opportunities for manufacturers, suppliers, and other stakeholders in the industry to capitalize on the expanding market in South America.
In the Asia Pacific region, the silicone coatings market is expected to reach USD 2.4 Billion by 2024.
The statistic indicates that the silicone coatings market in the Asia Pacific region is projected to grow and reach a total value of USD 2.4 billion by the year 2024. This suggests a significant increase in market size and demand for silicone coatings within the region over the next few years. The growth of the market is likely driven by factors such as increasing industrialization, infrastructure development, and growing demand for high-performance coatings across various industries. This statistic provides valuable insights for businesses operating in the silicone coatings industry, highlighting potential opportunities for expansion and investment in the Asia Pacific market.
Conclusion
The statistics presented clearly indicate a promising future for the silicone coating industry. With increasing demand across various sectors, steady growth rates, and innovative advancements, the industry is set to expand further in the coming years. These statistics underscore the importance of silicone coatings and their widespread applications in different industries, highlighting opportunities for growth and development in this dynamic market.
References
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