The Silicone Additives Market is projected to reach USD 2.68 billion by 2028, at a CAGR of 7.8% between 2018 and 2028. According to Quince Market Insights, the global silicone additives market is witnessing significant growth, owing to the increasing demand for its use in cosmetics, and paints & coatings applications. Silicone additives are used in paints & coating, which helps in attaining properties such as leveling, foam control, etc. Numerous other developments, such as non-postcuring liquid silicone rubber by Wacker Chemie AG can be determinants in the growth of the global silicone additives market.
Rising customer preferences towards cosmetics products are driving the silicone additives market due to the extensive use of silicone additives as emulsifying and wetting agents in cosmetics. Silicone is also used as fillers in plastics and composites to reduce its material costs. Various industries, such as automotive, construction & building, etc., use composites, as it is cheaper than plastic material and does not change the properties of the end product. The 3D printing technology is also gaining massive popularity wherein silicone additives are widely used in additive manufacturing using 3D printing as a filler material. These factors strongly support the growth of the silicone additives market.
The Asia Pacific is emerging as the most promising market for silicone additives
The silicone additives market in the Asia Pacific is witnessing high growth due to the changing lifestyle and purchasing pattern of consumers. The easy availability of raw materials and manpower is one of the reasons for the strong growth of this market in the Asia Pacific.
Major companies operating in the global silicone additives market, such as Shin-Etsu, Evonik Industries, Dow DuPont, Wacker Chemie AG, Elkem, BYK Additives, Momentive Performance Materials, KCC Corporation, and BRB International, have been profiled in the study to provide a competitive view about the market.
Silicone Additives Market Scope:
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