Modified Silicone Market: Introduction
Modified silicone is silicone with additional functionality beyond the properties of common silicone fluid. Such properties are achieved through the introduction of numerous types of organic compounds or groups into common silicone fluid. Modification of silicone can add functional properties such as water solubility and repellency, paintability, lubricity, antistatic and softening, and compatibility or reactivity with organic substances, among many others. Modified silicone is widely used in the diversified range of applications such as resin modifiers, ingredients in cosmetics, textile treatment agents, water repellents for construction applications, additives for waxes, and release agents. Moreover, modified silicone is also used as a raw material in several industries to improve the function of existing polymeric materials and developing & formulating new materials. Modified silicone sold in the market as reactive and non-reactive modified silicone. Reactive silicone fluids contains various groups such as amino, epoxy, carboxyl, carbinol, phenol, among others. While non-reactive modified silicone contain groups such as polyether, alkyl, and fluorine, among many others.
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Modified Silicone Market: Dynamics
Modified silicone is extensively used across various industries such as construction, textiles, and additives, among many others. Sustainable growth of such end-use industries is a key driving factor for the modified silicone market across the globe. The additional functional properties of modified silicone which are lacking in conventional silicone are a key reason of its use in increasing number of product formulations.
Worldwide, the construction and building industry registered significant growth in the last couple of years, owing to urbanization along with population growth. Such factors are providing traction to housing and residential sector development, which in turn, rising demand for adhesives and sealants for various construction activities. And, modified silicone is used as raw material and additive in the formulation of adhesives and sealants. All such kinds of aspects are expected to lay the strong pave for robust market growth of modified silicone in the coming years. However, the presence of alternatives such as silicone and low awareness about modified silicone over conventional silicone are anticipated to hampering market growth during the forecast period.
Modified Silicone Market: Segmentation
Global modified silicone market can be segmented on the basis of product type, application, end-use, and region.
On the basis of product type, the modified silicone market is segmented into:
On the basis of application, the modified silicone market is segmented into:
- Resin Modifiers
- Chemical Ingredient
- Textile Treatment Agents
- Performance Additive
On the basis of end-use, the modified silicone market is segmented into:
- Construction and Building Industry
- Paints and Coatings
- Consumer Care
Modified Silicone Market: Regional outlook
In terms of regional demand trends, modified silicone consumption in North America is projected to increase at a robust pace in the coming years, owing to the intensifying growth of housing and residential sector development. In North America, the US remains to the prominent consumer in the modified silicone market, owing to the well-established end-use industries. Emerging economies of the Asia Pacific market is projected to register healthy growth in the global modified silicone market during the forecast period.
Construction and automotive industry in the emerging economies of the Asia Pacific region such as China and India are registered energetic growth in the last couple of years owing to increasing spending power as well as high traction of urbanization. Such factor is expected to act as a driving factor for the Asia Pacific modified silicone market growth in the near future. Europe modified silicone market is expected to register relatively moderate growth compared to the North America and Asia Pacific region, owing to the well- developed and established end-use industries. Moreover, automotive production and construction activities in Latin America and MEA region are expected to create significant growth opportunity for the modified silicone market in those regions during the forecast period
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Modified Silicone Market: Market participants
Some of the key market participants identified in the Modified Silicone market are as follows:
- Dow Coring
- BASF SE
- Wacker Chemie AG
- Momentive Performace Materials
- Shin-Etsu Chemical Co., Ltd.
- Evonik Industries
- Siltech Corporation
- KCC Basildon
- MBI Silicones, LLC
- BRB International BV